Jan 27 2009
According to Lucintel, the Asian construction market for composite applications such as FRP doors, FRP windows, grating, fiberglass bath tubs, and others, is estimated to reach $4.9 billion in 2013.
Lucintel, a leading global management consulting and market research firm with over 700 clients worldwide, has recently concluded a detailed analysis of the Asian construction market and has just published a comprehensive research report entitled “Opportunities for Composites in Asian Construction Market 2008-2013: Trends, Forecast and Opportunity Analysis”. In the report, Lucintel identifies the highest, and lowest, potential growth applications in this market.
As the global economy continues to show weakness in 2009, it is important to know which sectors will continue to show strength despite the economic slowdown. According to Lucintel, applications such as doors, windows, rebar, cooling towers, gratings and utility poles will drive the growth for composites during the forecast period. For example, even though the market for general construction is down globally, demand for composite doors is estimated to be very strong over the period, as market penetration strengthens versus competitive products. Some market segments, such as bridge decks, bathtubs, and swimming pools, will show relatively slow rates of growth, but no segment is projected to show a five year decline during this period.
Ryan Lee, market analyst and author of the report says, “Once potential customers understand the advantage of composite products, the sale itself is not entirely difficult. The difficulty is getting the customers to see past the initial cost of the product and educate them as to the life cycle cost of composites as compared to conventional materials, which traditionally have less strength, more required maintenance, and more frequent replacements.”
This research report contains market size estimates for the top 12 composite applications in Asian construction market, a Porter’s five forces analysis for composites opportunities in the market, competitive analyses for various applications, trends and forecast for composites applications and raw materials, growth drivers, and many other elements, all of which can help you make confident business decisions in this globally competitive marketplace.