Results of the 18th Composites Market Survey now available
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Assessment of current business situation positive
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Future expectations subdued
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Investment climate friendly
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Varied expectations for application industries
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GRP is still a growth driver
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Composites Index is now positive
This is the 18th time that Composites Germany (www.composites-germany.org) has identified the latest KPIs for the fibre-reinforced plastics market. The survey covered all the member companies of the three major umbrella organisations of Composites Germany: AVK, Leichtbau Baden-Württemberg and the VDMA Working Group on Hybrid Lightweight Construction Technologies.
As before, to ensure a smooth comparison with the previous surveys, the questions in this half-yearly survey have been left unchanged. Once again, the data obtained in the survey is largely qualitative and relates to current and future market developments.
Assessment of current business situation is brightening up
Both the economy in general and industry in particular are currently struggling with numerous challenges. They include the ongoing challenges of the coronavirus pandemic, the currently apparent shortage of raw materials and the lack of semiconductors with its massive impact on production, especially in two markets: passenger cars and commercial vehicles. The situation is extremely tense in some segments, while others are only marginally affected.
The composites industry is highly heterogeneous, and areas of application can be found in nearly all its relevant segments. These have been and still are being impacted by the above-mentioned effects in very different ways. Unlike the rather gloomy picture that is often expressed, the respondents in this latest survey give a somewhat more positive assessment of today’s business situation. 70% of respondents describe the current general situation as positive or even highly positive. The relevant index has therefore risen significantly, with values that are clearly approaching the pre-crisis level.