Skip to main content
Sister Publication Links
  • Sustainable Plastics
  • Rubber News
Subscribe
  • Sign Up Free
  • Login
  • Subscribe
  • News
    • Processor News
    • Suppliers
    • More News
    • Digital Edition
    • End Markets
    • Special Reports
    • Newsletters
    • Resin pricing news
    • Videos
    • Injection Molding
    • Blow Molding
    • Film & Sheet
    • Pipe/Profile/Tubing
    • Rotomolding
    • Thermoforming
    • Recycling
    • Machinery
    • Materials
    • Molds/Tooling
    • Product news
    • Design
    • K Show
    • Mergers & Acquisitions
    • Sustainability
    • Public Policy
    • Material Insights Videos
    • Numbers that Matter
    • Automotive
    • Packaging
    • Medical
    • Consumer Products
    • Construction
    • Processor of the Year
    • Best Places to Work
    • Women Breaking the Mold
    • Rising Stars
    • Diversity
    • Most Interesting Social Media Accounts in Plastics
  • Opinion
    • The Plastics Blog
    • Kickstart
    • One Good Resin
    • Pellets and Politics
    • All Things Data
    • Viewpoint
    • From Pillar to Post
    • Perspective
    • Mailbag
    • Fake Plastic Trees
  • Shop Floor
    • Blending
    • Compounding
    • Drying
    • Injection Molding
    • Purging
    • Robotics
    • Size Reduction
    • Structural Foam
    • Tooling
    • Training
  • Events
    • K Show Livestream
    • Plastics News Events
    • Industry Events
    • Injection Molding & Design Expo
    • Livestreams/Webinars
    • Editorial Livestreams
    • Ask the Expert
    • Plastics News Events Library
    • Processor of the Year submissions
    • Plastics News Executive Forum
    • Injection Molding & Design Expo
    • Plastics News Caps & Closures
    • Women Breaking the Mold Networking Forum
    • Plastics in Automotive
    • PN Live: Mergers and Acquisitions
    • Polymer Points Live
    • Numbers that Matter Live
    • Plastics in Politics Live
    • Sustainable Plastics Live
    • Plastics Caps & Closures Library
    • Plastics in Healthcare Library
    • Women Breaking the Mold Networking Forum Library
  • Rankings & Data
    • Injection Molders
    • Blow Molders
    • Film Sheet
    • Thermoformers
    • Pipe Profile Tubing
    • Rotomolders
    • Mold/Toolmakers
    • LSR Processors
    • Recyclers
    • Compounders - List
    • Association - List
    • Plastic Lumber - List
    • All
  • Directory
  • Resin Prices
    • Commodity TPs
    • High Temp TPs
    • ETPs
    • Thermosets
    • Recycled Plastics
    • Historic Commodity Thermoplastics
    • Historic High Temp Thermoplastics
    • Historic Engineering Thermoplastics
    • Historic Thermosets
    • Historic Recycled Plastics
  • Custom
    • Sponsored Content
    • LS Mtron Sponsored Content
    • Conair Sponsored Content
    • KraussMaffei Sponsored Content
    • ENGEL Sponsored Content
    • White Papers
    • Classifieds
    • Place an Ad
    • Sign up for Early Classified
MENU
Breadcrumb
  1. Home
  2. News
February 06, 1995 01:00 AM

COMPOSITES MAKE DOUBLE-DIGIT GAIN IN '94

Bill Bregar
Senior Staff Reporter
  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print

    CINCINNATI - Composites shipments enjoyed an 11.6 percent spurt to hit a record 3 billion pounds in 1994, thanks to double-digit growth in transportation, construction and a boat industry that is buoyant once again, the Composites Institute reports. Other market segments also did well, reflecting a strong general economy and materials substitution. Appliance, electrical/electronic, corrosion-resistant products and consumer products all grew by more than 5 percent. Only the aircraft/aerospace/military segment lost ground, hit by continued defense cutbacks. The trade association predicts that market will bounce back in 1995 and reverse six straight years of decline.

    Overall composites growth should cool down in 1995 to 3.8 percent, as nearly all sectors are expected to grow 3-4 percent, predicts the New York-based Composites Institute, a division of the Society of the Plastics Industry Inc. of Washington. Institute leaders released the 1994 report, and their forecast for 1995, during their annual exposition in Cincinnati.

    The official total for 1994 - 3.04 billion pounds - tops 1993's record of 2.73 billion pounds. It also is the biggest one-year gain since at least 1985. The numbers include thermosets, thermoplastics, reinforcements and fillers.

    Composites' growth nearly tripled the 1994 gain in U.S. Gross Domestic Product, said Catherine A. Randazzo, executive director of the institute.

    Kevin Sullivan, the institute's chairman, said emerging markets, especially civil engineering, could double the size of the composites industry before this decade is over. ``Composites Rebuild America'' was the theme of the show, held Jan. 30-Feb. 1.

    Transportation, which used 945.6 million pounds, or nearly one-third of all composites, remained the largest and fastest-growing market, gaining 15 percent in 1994. The industry benefited from motor vehicle sales of more than 15 million units, the highest level since 1988, record light-truck sales of 6.1 million units and a record year for semi trucks.

    Randazzo said composites' growth in transportation should slow in 1995, to 4.2 percent.

    Here is a look at how other markets fared in 1994:

    Marine rebounded strongly, growing by 13.8 percent, to 363.5 million pounds. SPI cited pent-up demand, repeal of the luxury tax on boats, a strong economy, high consumer confidence and moderate interest rates. The rate of growth should slow, to 2.9 percent in 1995, but sales of personal, jet-powered crafts and other specialty products will become more of a factor.

    Construction grew by 12.6 percent, to nearly 600 million pounds, because of strong sales of new and existing homes, a big market for bathtubs, whirlpools and other composite products. Plant and equipment spending jumped 8 percent, boosting demand for interior partitions, glazing, sidewalls and ceiling panels.

    In 1995, Randazzo said, ``Commercial, industrial and institu-tional activity should remain strong and offset a slow year for housing.''

    Sullivan, general manager of reinforcements and fiberglass products at PPG Industries Inc. in Pittsburgh, said the institute continues its focus on civil engineering products such as docks, which began in 1992.

    Appliance/business equipment grew 9 percent, to 160.7 million pounds.

    With an 8.9 percent gain, electrical/electronic kept pace with construction.

    Corrosion-resistant equipment grew 6.9 percent.

    Consumer products, a broad category that includes toys, sports equipment, furniture and cookware, grew by 5.5 percent.

    Products for the aircraft/aerospace/military category declined 4.7 percent. The institute thinks this market will grow a modest 1.2 percent in 1995.

    An ``other'' category, in-cluding medical equipment and dental materials, shot up 14 percent.

    SPI also reported that U.S. shipments of cultured marble, solid-surface countertops and other nonreinforced composites grew 12.6 percent, to 849.9 million pounds, in 1994.

    RECOMMENDED FOR YOU
    Thermoformer Genpak closing Ohio facility, cutting 67 jobs
    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Plastics News would love to hear from you. Email your letter to Editor at [email protected]

    Most Popular
    1
    Asahi Kasei settles Michigan PFAS lawsuit, agrees to clean up pollution
    2
    Numbers That Matter Live January 2023: Expect short-term pain, strong rebound in 2024
    3
    Berry, Coca-Cola launch tethered caps in EU markets
    4
    Berry sees growing health care demand in India; new plant to open soon
    5
    Top-dollar deals, repeat buyers highlight 2022 M&A
    SIGN UP FOR OUR FREE NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Plastics News delivered straight to your inbox, free of charge.

    Subscribe today

    Subscribe to Plastics News

    Subscribe now
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter
    • Instagram

    Plastics News covers the business of the global plastics industry. We report news, gather data and deliver timely information that provides our readers with a competitive advantage.

    Contact Us

    1155 Gratiot Avenue
    Detroit MI 48207-2997

    Customer Service:
    877-320-1723

    Resources
    • About
    • Staff
    • Editorial Calendar
    • Media Kit
    • Data Store
    • Digital Edition
    • Custom Content
    • People
    • Contact
    • Careers
    • Sitemap
    Related Crain Publications
    • Sustainable Plastics
    • Rubber News
    • Tire Business
    • Urethanes Technology
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • News
      • Processor News
        • Injection Molding
        • Blow Molding
        • Film & Sheet
        • Pipe/Profile/Tubing
        • Rotomolding
        • Thermoforming
        • Recycling
      • Suppliers
        • Machinery
        • Materials
        • Molds/Tooling
        • Product news
        • Design
      • More News
        • K Show
        • Mergers & Acquisitions
        • Sustainability
        • Public Policy
        • Material Insights Videos
        • Numbers that Matter
      • Digital Edition
      • End Markets
        • Automotive
        • Packaging
        • Medical
        • Consumer Products
        • Construction
      • Special Reports
        • Processor of the Year
        • Best Places to Work
        • Women Breaking the Mold
        • Rising Stars
        • Diversity
        • Most Interesting Social Media Accounts in Plastics
      • Newsletters
      • Resin pricing news
      • Videos
    • Opinion
      • The Plastics Blog
      • Kickstart
      • One Good Resin
      • Pellets and Politics
      • All Things Data
      • Viewpoint
      • From Pillar to Post
      • Perspective
      • Mailbag
      • Fake Plastic Trees
    • Shop Floor
      • Blending
      • Compounding
      • Drying
      • Injection Molding
      • Purging
      • Robotics
      • Size Reduction
      • Structural Foam
      • Tooling
      • Training
    • Events
      • K Show Livestream
      • Plastics News Events
        • Plastics News Executive Forum
        • Injection Molding & Design Expo
        • Plastics News Caps & Closures
        • Women Breaking the Mold Networking Forum
        • Plastics in Automotive
      • Industry Events
      • Injection Molding & Design Expo
      • Livestreams/Webinars
        • PN Live: Mergers and Acquisitions
      • Editorial Livestreams
        • Polymer Points Live
        • Numbers that Matter Live
        • Plastics in Politics Live
        • Sustainable Plastics Live
      • Ask the Expert
      • Plastics News Events Library
        • Plastics Caps & Closures Library
        • Plastics in Healthcare Library
        • Women Breaking the Mold Networking Forum Library
      • Processor of the Year submissions
    • Rankings & Data
      • Injection Molders
      • Blow Molders
      • Film Sheet
      • Thermoformers
      • Pipe Profile Tubing
      • Rotomolders
      • Mold/Toolmakers
      • LSR Processors
      • Recyclers
      • Compounders - List
      • Association - List
      • Plastic Lumber - List
      • All
    • Directory
    • Resin Prices
      • Commodity TPs
        • Historic Commodity Thermoplastics
      • High Temp TPs
        • Historic High Temp Thermoplastics
      • ETPs
        • Historic Engineering Thermoplastics
      • Thermosets
        • Historic Thermosets
      • Recycled Plastics
        • Historic Recycled Plastics
    • Custom
      • Sponsored Content
      • LS Mtron Sponsored Content
      • Conair Sponsored Content
      • KraussMaffei Sponsored Content
      • ENGEL Sponsored Content
      • White Papers
      • Classifieds
        • Place an Ad
        • Sign up for Early Classified