The latest analysis from Visiongain indicates the global carbon fibre reinforced plastic (CFRP) composites market will reach a value of $20.68bn in 2013, driven by growth in the wind energy market, and strong potential in the automotives market.
With continued growth forecast for the global wind energy market and other key subsectors, the global CFRP composites market will exhibit significant growth over the next decade, the firm says. This will also be driven by the increasing prominence of the emerging markets. “Stronger economic growth and clear immaturity in the CFRP markets means that growth rates are expected to be greatest in these regions,” it says. “The immaturity and cheaper labour costs of the emerging markets are also expected to attract a number of multinationals from the developed markets.”
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