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The market for automotive composites is progressing strongly in 2015. North America, Europe and Asia-Pacific dominated the aerospace composites market in 2013 and accounted for more than 85% of the market, by volume and value. These are just some of the key takeaways from the following list of market reports:

Global composites industry trends 

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The composites market size of end products in terms of value is projected to reach around $90 billion by 2020 and expected to grow at a CAGR of 7% to 9% between 2015 and 2020, according to “Composites Market by Type, by Manufacturing Technology, by Resin Type, by Application, and by Region - Global Trends and Forecasts to 2020," a new report from MarketsandMarkets (Dallas, TX, US).

Asia-Pacific held the largest share by volume in the composites market in 2014. Major growth in the Asia-Pacific region is expected from the growing construction, aerospace and electronics and semiconductor application. Presence of emerging economies such as India and China are helping the composites market to grow in the region. The freeing up and privatization of the industry, and massive foreign investment combined with low costs are other factors in this growth.

Automotive composites market strong in 2015

Visiongain (London, UK) states in its report "Automotive Composites Market Forecast 2015-2025" that the 2015 market for automotive composites is progressing strongly, boosted by increasingly advanced production techniques that are facilitating higher volume production of composite materials. The success of composite-rich models such as the BMW i3 provides further positive stimuli to the market, and indicates the beginning of a trend toward mid-price models featuring higher quantities of composite materials. The automotive composites market is currently characterized by a higher level of concentration in the premium vehicle segment, due to the current high costs of manufacturing composite materials. However, over the forecast period, Visiongain predicts more cost-efficient methods of production, observing a change in this trend as lightweighting and fuel efficiency are targeted more directly by OEMs.

Visiongain expects the automotive composites market will reach $11.03 billion in 2015. The market represents high potential and it is expected to record considerable growth in the forecast period. Significant partnerships between OEMs and composite manufacturers will help to boost investment and research, facilitating cost-efficient mass production. This is the biggest restraint the market faces. Additionally, the issues and difficulties associated with the recycling of composite materials are being targeted, and healthy progress is already being made in this regard, which will continue throughout 2015-2025.

The markets of China, U.S., Japan and Germany are expected by VisionGain to continue their strong growth. Within these markets, OEMs will introduce models with a greater emphasis on lightweighting, including hybrid and electric vehicles whose weight reduction is of paramount importance. India is another market forecast to grow steadfastly, and within Europe the national markets of Italy and the UK show considerable potential.

U.S. is the top consumer of aerospace materials

Another report from MarketsandMarkets looked at the aerospace composites sector. The report “Aerospace Materials Market Global Trends and Forecast to 2019” said that the aerospace materials market is projected to register a CAGR of 6.6% between 2014 and 2019 to reach $18.5 billion in terms of value.

North America, Europe and Asia-Pacific dominated the aerospace composite market in 2013 and accounted for more than 85% of the market, by volume and value. Country-wise, the U.S. is the top consumer of aerospace materials globally. Companies like Alcoa Inc. and Cytec Industries are two of the biggest player in the country. France is the second-largest aerospace composite consumer in the world.

Increasing demand for the various aircrafts from the Asia-Pacific and other emerging regions is the major growth driver of the aerospace materials industry. Future growth in the international market hinges heavily onto developing economies, especially in Asia-Pacific and other emerging economies. China and India, especially, stand out as noteworthy emerging markets along with Latin America. The future scenario in Asia-Pacific looks promising given the number of facility expansions, merger and acquisitions and strategic partnerships that took place in this region. The ensuing increase in foreign investments and rise in the number of new manufacturing establishments will witness Asia-Pacific emerge into a prime driver of growth for the aerospace composite market.

Asia-Pacific driving demand for bio-composites

Future Market Insights (London, UK) states that the increasing concerns for the environment is a major driver of the bio-composite market, according to the company's report, “Bio Composites Market: Asia Pacific Industry Analysis and Opportunity Assessment 2014 – 2020."

Natural fiber reinforced polypropylene (PP) composites have gained popularity for commercial use in the automotive industry. Bio-composites are also used in the construction and marine sectors, as it is easily moldable and rigid in nature.

In terms of revenue, the global polymer market was estimated to be $250 billion in 2013. Projections suggest that the market will reach $450 billion by 2025. On the other hand, the global market of bio-based polymer is expected to grow at a CAGR of 10%-11.5%. Increase in demand for bio-composites is expected from regions of Asia-Pacific, due to a demand from the construction, manufacturing and automotive sectors. Asia-Pacific is also estimated to be the largest automotive composite market with total share of around 43% globally. Asia-Pacific is turning into a hub for bio-composites and is expected to report a high demand for bio-composites over the coming years.