The recent study for the VDMA German Engineering Federations Composite Technology Forum concludes that the market for high-strength reinforced composites will experience solid growth until 2020. At a rate of 17% per cent per annum, demand for high strength components made from carbon fibre reinforced plastics (CFRP’s) will grow significantly stronger than demand for high strength glass-fibre reinforced plastics (GFRP’s).
However the report acknowledges that the market growth is contingent of cost reductions that will primarily be derived from process improvements (cost reduction of 40%) rather than lower raw materials.
"With the growing importance of lightweight construction across various industries, there will be strong growth in demand for these products going forward, assuming that production costs fall." The trend toward the industrialization of manufacturing processes by shifting to mass production puts the engineering industry in a strong position.
Download the report at this link...