North America has an established composites manufacturing capability that leads the world in terms of innovation and productivity. However, the demand for composites (automotive, marine and construction) has recently been on the decline, leaving industry with excess manufacturing capacity. Although different market segments have gone up and down over the years, composites recently have seen more growth than aluminum or milled steel products. The future of the North American composites industry looks prosperous through 2014 and beyond. Major market segments are forecast to recover during the next five years. Demand for raw materials used in North American composites industry is forecast to reach $7.1 billion by 2014. |