Lucintel Analysis: China Best Placed Among BRIC Countries in Terms of Composites Market Attractiveness

Irving, TX, October 26, 2013 --(PR.com)-- Composites are used as competitors to traditional materials such as iron and steel, aluminum, and wood. The BRIC composites market experienced good growth during the last decade and is anticipated to continue its growth momentum over the next five years.In terms of market attractiveness and growth rate, China is best placed amongst the BRIC countries. China has the most mature market for composite products as well as raw materials because of continuous government support, higher manufacturing capability, and large domestic market size.

Lucintel, a leading global management consulting and market research company, has conducted a competitive analysis on the growth opportunities for composite materials in the BRIC countries and presents its findings in “Growth Opportunities for Composites in BRIC Countries 2013-2018: Trends, Forecast and Opportunity Analysis.” The composites market of BRIC countries give tremendous opportunities to all kinds of players, from raw material suppliers to molders.

The report depicts that the usage of composites is mostly confined in the non-residential and industrial projects, which poses a challenge to the composites market. The market also suffers from short-term negative impact from global economic cues.

Lucintel also highlights the growth drivers. The construction industry in China is the third largest consumer of composite materials, and marked an increase in volume from the previous year’s level. Over the next five years, Chinese construction market is expected to depict a healthy growth rate. Brazilian construction industry is being spurred by strong government investment. Private sector interest in the construction segment has been increasing as is evident from the stock exchange.

The growth drivers for BRIC countries overshadow the challenges substantially and hence, all BRIC countries are likely to witness robust growth during the forecast period. Most BRIC countries were impacted moderately by global economic issues; however, the impact was minimal when compared to the developed countries. Consumption of composites in automobiles have also increased substantially in the BRIC countries, driven by fuel efficiency on account of lighter vehicles for mass produced models as well as performance benefits to high-end automotive models.
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