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About Sandeepan
Sandeepan Mondal
Industry Analyst – Chemicals, Materials & Foods
Frost & Sullivan
• Experience in tracking global markets related to polymers, composites,
lubricants, biomaterials in different application sectors such as automotive,
aviation, high speed rail, marine and building and construction
• Involvement in many high-value consulting assignments related to new
product potential, market size estimation and forecasting and competitor
benchmarking
• In my spare time I’m a leading cricket enthusiast, an award winning quizzer
and enjoy travelling, photography and reading.
Four Signs A Composite Manufacturer Might Need to Reinvent its Business Model
Demand fluctuation in
certain sectors
•The economic recession in 2008-2009 was a game-changer as it led to some of the end-user sectors being heavily affected.•Companies need to hedge risks by spreading their supply to varied sectors
Regional demand Dynamics
•10 years ago, it was US, Japan and Europe which were leading growth figures for composite demand across sectors•There is now a regional shift towards Asia in terms of both supply and demand when it comes to composites and its raw materials
Technology as a disruptor
•Technological advancements in terms of automation and fabrication methodology have resulted in lower cycle times and lower costs of manufactured parts.• Companies need to incorporate technology as a tool to expedite their expansion across industries using composites
High Level of consolidation in
End-user Industries
•The marine industry, for example, 2008-2009 saw the exit of many boat builders which were acquired by larger companies.•The aerospace industry now relies on a few suppliers (both Tier-I and composite suppliers) to manufacture parts and components•Maintaining client relationships is of paramount importance as bargaining power of buyers has increased substantially.
Three Big Predictions for 2013
2Closed molding and out-of-autoclave techniques are expected to be a
major enabler for high throughput rate of composite parts and components
1The automotive sector is expected to remain as the largest market for
composites globally, since fiber-reinforced thermoplastics are used on a
large-scale in this market
Source: Frost & Sullivan analysis.
2major enabler for high throughput rate of composite parts and components
3Asia-Pacific and China, in particular, is not only expected to be major
production hub for raw materials concerning composites, but also
substantial in terms of demand across sectors.
Sector-wise Composite Demand
$24.7 B Global Composites Market Sector Share
Total Composites Market: Segmentation by Sectors, Global,
2012
3.8%
0.1%14.2%
4.0%
0.1%
16.7%
Total Composites Market: Segmentation by Sectors, Global,
2018
Note: All figures are rounded. The base year is 2012. Source: Frost & Sullivan analysis.
80.8%
1.1%
3.8%
Automotive
Commercial Aviation
Marine
High Speed Rail
Building and Construction
78.0%
1.2%
4.0%
Automotive
Commercial Aviation
Marine
High Speed Rail
Building and Construction
Note: Other sectors like other aerospace, other transportation, sporting goods, wind
energy, oil, gas & offshore and civil engineering are not taken into account here.
Growth Opportunity Matrix for Composites
4.0%
6.0%
8.0%
10.0%
Automotive
Building and Construction
Commercial Aviation
Marine
Vo
lum
e C
AG
R (
20
12
-20
18)
Source: Frost & Sullivan analysis.
-4.0%
-2.0%
0.0%
2.0%
0.0 5,000.0 10,000.0 15,000.0 20,000.0 25,000.0 30,000.0 35,000.0
High Speed Rail
Revenues in 2018 ($ Million)
Vo
lum
e C
AG
R (
20
12
Consumption Patterns by Resin and Fiber Type
Resins and Fibres consumption patterns in composites across sectors
Automotive
Commercial
Aviation
Marine
Low Very Low Very Low Negligible Very High High Low Very Low
Low High Low Very Low Low Medium High Low
High Medium Low Low Very Low Very High Very Low Very LowMarine
High Speed Rail
Building and
Construction
UPRs &
Vinyl
Esters
Epoxies Phenolics Acrylics Thermo
plastics
Glass
Fibres
Carbon
Fibres
Others*
High Low Medium Low Medium High Very Low Negligible
High Medium Low Very Low Low Very High Very Low Very Low
Source: Frost & Sullivan analysis.*Others include aramid fibres, natural fibres and boron nitrides
Regional Trends in Global Composites Market
Composites in North America Europe ROW
Automotive 25% 24% 51%
Commercial Aviation 40% 45% 15%
Marine 50% 30% 20%
High Speed Rail 3% 17% 80%
Building and Construction 45% 30% 25%
Source: Frost & Sullivan analysis.Note : All figures are rounded. The base year is 2012.
The CEO’s Perspective
2Fabrication costs would come down
with process innovations
1
Reducing margins need to be taken
care of by either increasing prices
or/and shifting production base to low-
cost centers
3Advanced composites like CFRPs are
likely to be used on a large-scale only
in commercial aviation or aerospace
4GFRPs are likely to dominate for the
next 10 years in almost all sectors
5Competitors should focus on demand
emanating from Asia-pacific
Source: Frost & Sullivan analysis.
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If you would like to know more, do contact us.
Chiara Carella
Corporate Communications
Chemicals, Materials & Food
+44 (0) 207 343 8314 [email protected]
Sandeepan Mondal
Industry Analyst
Chemicals, Materials and Foods
(91)-80-6702-8070