Composites in the USA 2018
The Composite Materials Expert Mission travelled to Dallas, Tennessee and Alabama in October 2018. In this publication we share the information and insights gathered during the delegation’s time in the US.
Abstract from outcome report:
Focusing in on the US market initially, it can be seen that in 2016 the market was worth $24.8 billion and will grow to $32.9 billion by 2022, providing an overall compound annual growth rate of 4.8%. ACMA states that glass fibre is the reinforcement most commonly used, but they do not yet have all the data for the market broken down by material types.
Listing the industry sectors by order of size with the largest first gives: Transportation, Aerospace and defence, Construction, Electrical and electronic, Pipe and tank, Consumer goods, Marine, Wind energy. Although the wind sector has the largest compound annual growth rate (CAGR) of all the industry sectors, it can be seen that the value of the sector is tiny. The US dominates the global aerospace composites market and will also claim a large share of future growth. The US will also do well in the global marine market, although the size is relatively small. However, the transportation market is also of interest as this is large and the US will also capture a large share of global growth.
About Global Expert Missions
The Global Expert Missions (GEM) programme is funded by Innovate UK and designed to build international collaborations with governments, societies, enterprises, institutions, and people from every corner of the globe. With global challenges requiring international perspectives, the programme aims to support the UK government’s ambition to be the international partner of choice and a global hub for innovation by 2035.