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10-24-2014

AVK Publishes European GRP Market Report 2014

The AVK, the German professional association for fiber composite plastics/composites, has published its European GRP Market Report 2014, the term GRP referring to all glass fiber-reinforced plastics with a thermoset matrix as well as glass mat-reinforced thermoplastics (GMT) and long fiber-reinforced thermoplastics (LFT). Carbon fiber-reinforced plastics (CRP) are dealt with separately in the second section of the market report.

According to the report, the volume of glass fiber-reinforced plastics manufactured in Europe will grow by over 2% to an estimated 1.04 million t in 2014. Growth has therefore stabilized in this segment, which is by far the largest area of the fiber-reinforced plastics and composites industry. The composites market is extremely heterogeneous not only in terms of company size and the processing techniques used in GRP production but also in the types of components and products manufactured. The dynamics of the market vary widely depending on the industry for which the components are destined. In addition, there are significant regional differences.

Glass fiber-reinforced plastic profiles

Glass fiber-reinforced plastic profiles

European GRP production enjoyed an excellent start to the year in 2014. The first six months exceeded the expectations of most market participants. Although growth is expected to weaken slightly in the second half of the year, the overall trend is one of continuous growth. As Europe's gross domestic product (GDP) contracts as a share of global GDP, the volume of GRP it manufactures as a percentage of worldwide GRP production also continues to decline. Production and consumption are shifting perceptibly towards the BRIC countries (Brazil, Russia, India, China) whose share of global GDP is growing steadily. GRP production in Europe is expanding but failing to keep pace with the worldwide trend.

GRP Production in 2014 by Country

There is no uniform market trend throughout Europe. The key growth factors are the state of the national economy of the country in question and the trends for the major GRP applications used in that country. The continuous, above average growth in Germany, UK/Ireland as well as in Eastern European countries has stabilised. This trend is principally supported by the automotive industry in Germany and by the construction sector in the UK. According to the Turkish composites Association TCMA, the sector in Turkey once again experienced above average growth of nearly 5%.

The proportions of GRP used by the major application industries in Europe remain constant. The transport and construction sectors each consume one third of total production. Other application industries include the electro/electronics sector and the sport and leisure segment.

Company profile

AVK Industrievereinigung Verstärkte Kunststoffe e.V.

Am Hauptbahnhof 10
DE 60329 Frankfurt
Tel.: 069 271077-0
Fax: 069 271077-10

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