Composites are used in a variety of markets, such as transportation, construction, marine, wind energy, aerospace, electrical and electronics, and pipe and tank. China has been the top market among the BRIC countries in terms of total composites consumption, whereas India depicted the highest growth rate in 2013 due to rapidly increasing demand from the end user industries.

Growth in the natural gas vehicles has driven the composite CNG tanks in the automotive industry. Composite CNG tanks are lightweight which results into fuel efficiency of the vehicles which drive the market.

According to a new market report published by Lucintel, the future of the FRP pipe market looks good with opportunities in the oil and gas, retail fuel, water/wastewater, sewage, and chemical industries.