Asia is regarded as the last major growth area for composites despite the fact that at 1.5 million tonnes it represents 25% of the world market. Japan, with little growth, constitutes 60% of this mark…
Asia is regarded as the last major growth area for composites despite the fact that at 1.5 million tonnes it represents 25% of the world market. Japan, with little growth, constitutes 60% of this market, but outside Japan (with the exception of China and India) growth is 10%/year, with Taiwan at 17%/year and Korea at 12%/year. China and India are undeveloped but offer great potential, with the Chinese market forecast at 0.5 million tonnes/year by 2000. The growth of the Asian market has seen it take on greater importance for US and European producers. Vetrotex, the US glass fibre producer, saw Asia accounting for 3% of its sales in 1991, but this rose to 11% in 1996. Sales to the area doubled between 1993 and 1996 and are forecast to rise a further 50% by 2000, and the company now has three joint ventures in China, Korea and Thailand. Another large glass fibre producer, Owens Corning, is also following this trend. The company is increasing its presence in the area as part of its strategy to reach US$ 5 billion in sales by 1999. The company“s strategy in the area consists of establishing a strong direct channel to the marketplace, establishing local capacity to supply the market, and market development. The company is also setting up Application Development Centres as centres of excellence to transfer existing applications to the Asian marketplace.