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Composites market in BRIC countries to post good growth

01 Nov '13

2 min read

Composites are used in a variety of markets such as transportation, construction, marine, wind energy, aerospace, electrical and electronics, pipe and tank, and more. The composites market in the BRIC countries is expected to witness good growth over the next five years. Construction and pipe and tank sectors are expected to have the largest applications of composites in BRIC countries due to their widespread acceptance and excellent corrosion resistance properties.

Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on the various composites applications in the BRIC countries and presents its findings in “Growth Opportunities for Composites in BRIC Countries: 2013-2018 Trends, Forecast, and Opportunity Analysis.”

In this report, BRIC composites market is analyzed by seven major application segments: pipe and tank, transportation, wind energy, aerospace and defense, construction, electrical and electronics, and marine. This report provides market sizing by application of composite materials in volume basis.

The study describes the key drivers and challenges of the composite market in BRIC nations. The composites provide better corrosion-resistance, strength-to-weight ratio, and low maintenance and life-cycle cost of materials as compared to competing materials such as steel, plastics, and concrete. Another growth factor would be increased investment in urban and rural infrastructure for water transportation and rehabilitation of sewage lines. The piping industry is benefiting from all these activities.

Superior performance characteristics combined with weight reduction capabilities posted ample opportunities for growth of composite materials to bridge the performance gap which the traditional materials have. Report analyses development and growth of major composite applications area to understand the market dynamics for the purpose of formulating business strategies.

Lucintel