Global scenario

A new worldwide market survey dealing with the evolution and potential of the composite materials industry from 2008 to 2013 has been published by JEC Composites. According to the survey, the 60-year old industry continues to develop worldwide, growing in volume in correlation with the increase of GDP by country. In developed countries, the position of composites versus competing materials is now stable (based on an overall stable price difference) - except in aeronautics, where composites are still expected to replace competing materials. In emerging countries, the composites market is mainly driven by economic growth following a development curve (the more a country is economically developed, the bigger its composites market tends to be). Overall - with the exception of aeronautics - the worldwide industry therefore evolves globally in line with its underlying application fields. The global economy is currently undergoing a severe downturn in all regions and worldwide economic growth for 2009 is expected to be at around 0% worldwide (excluding inflation). This slowdown is forecast to end either in 2010 or 2011 - with nevertheless some uncertainty on when economic growth rates should go back up to structural levels.