“Global Composites Industry Set to Soar” says Sanjay Mazumdar at the CAMX 2016 Panel Discussion

“The global composites industry is set to soar. There are plenty of opportunities emerging in various industries,” said Dr. Sanjay Mazumdar, CEO of Lucintel at the CAMX session on the Global State of the Composites Industry in Anaheim, California on Sept. 27, 2016. “We have been on the runway for a long time, but now we’re ready to take off,” said Dr. Mazumdar. 

Speaking at the CAMX session, Dr. Mazumdar said that innovation and partnership will be necessary if the industry is going to achieve that growth potential. He stated that the demand for composites looks very promising in various sectors; growth is driven by light weighting, performance, and aesthetic trends. In the automotive market alone, the opportunity for lightweight materials is expected to reach $350 billion in 2025 and composites can play a significant role in that. Similarly, there is an influx of composites opportunities in consumer goods, such as in cell phone cases, purses, and luggage applications. These opportunities are worth about $200 billion. To tap into these prospects, we need leaders who can innovate by coming up with new materials, technologies, and products to address market needs, said Dr. Mazumdar. 

To learn more about the opportunities for the global composites industry, click http://www.lucintel.com/composites_market_2021.aspx

 

To learn more about Dr. Mazumdar and other speakers comment during CAMX session, click 
http://compositesmanufacturingmagazine.com/2016/09/global-composites-new-opportunities-disruptive-technologies-going-green/