18/10/10 – Future of Composite Materials Outlined in Keynote Speech
18 October 2010
At the JEC Composites Show Asia, Group president of the Owens Corning Composite Solutions Business, a leading global producer of glass fiber reinforcements and engineered materials, outlined his industry vision for the composite industry. The Composites Show, which took place from October 12-14 2010 in Singapore, included the keynote speech that outlined how the composites industry can compete against steel, wood and aluminium over the next ten years.
"The need has never been greater for the value composite materials to deliver," said Owens Corning president Chuck Dana. "Bridges, roads and pipes need composites to resist corrosion and last longer. Cars, trucks, trains and planes need to weigh less and be durable. And new, cleaner energy sources like wind energy need the light weight and strength that composite materials provide.” Despite this progress the composites materials market share currently stands at a measly 1.5%.
During his speech Dana highlighted four ‘macro trends’, which need to be developed in order for the use of composite materials to thrive in the future. These were cited as: energy efficiency, renewable energy, developing economies and sustainability. Dana said, "These trends can drive our industry, but to truly benefit from the opportunities they deliver, we will all need to keep an outside-in point of view on what our stakeholders are looking for, and how we can most powerfully deliver on the promise of composites."
Dana separated these key stakeholders for the industry into customers, shareholders and governments. He said that capacity needs to meet demand for customers, specifically those in the growth markets of China, India, Russia and Brazil and match their expected growth rates. The industry also needs to demonstrate an ability to provide sustained return on capital to shareholders. He said, "The last two years have given us a much more cynical financial world and capital is hard to generate. A clear challenge for our industry is to continue to generate returns that will allow us to continue to grow and invest.”
In connection with Governments, Dana commented that the composites industry needs to emphasise its sustainability and market itself as a green technology. He said, "The opportunity and the need is tremendous to continue to educate governments on how composites can improve the durability of infrastructure and enable new, renewable energy sources. Meeting sustainability goals, is a focus that will truly help drive the use of composite materials in the market."
About JEC & JEC Composites Show Asia
JEC is dedicated to promoting composites internationally. It supports the development of these materials by fostering knowledge transfer and exchanges between suppliers and users. The JEC network connects more than 250,000 professionals worldwide from 96 different countries. JEC was created by the Composites Promotion Center (CPC), a non-profit association.
JEC Composites Show Asia is the leading composites platform in the Asia Pacific region that brings together all global composites industry players. Supported by major professional composites associations from Australia, China and Taiwan, India, Japan, Thailand, South Korea, Malaysia, New Zealand, and other countries representing every the complete manufacturing cycle of the composites industry.