In metals, the demand for aluminum increased by 2.7% and steel demand grew by 2.8% in Q4 2024 as compared to the same quarter of the previous year. Aluminum demand grew driven by EVs and aluminum replacing plastic and glass in packaging and steel demand fueled by growth across all steel consuming sectors. In terms of demand for composite materials, glass fiber demand grew by 3.5%, carbon fiber demand increased by 2.9%, demand for epoxy increased by 5.1%, UPR demand grew by 5.3%, and SMC demand increased by 1.4% in Q4 2024 as compared to Q4 2023. Demand for composite materials increased due to increased demand from end markets, including transportation, boats, electrical, and electronics segments, from a YoY perspective. In Q1 2025, demand for composites are expected to follow the same trend as Q4 2024 as shown in the following figure.
Source: Lucintel Figure: Year-over-Year (YoY) Demand Change of Metals and Composites in Q4 2024 and Q1 2025 (e)
The price and demand analysis on above is published monthly for various regions. Lucintel analysts collect supply, demand and price data from various suppliers and consumers on a monthly basis and also analyzes news on supply and demand issues, production, and price trends. This allows Lucintel to publish unbiased assessments on price and demand movements to help you make confident business decisions on your negotiation or business issues.
Become a valued Lucintel member to gain access to thousands of market data, price and demand trends, and more for one low rate ($89 / month to $1,850 / month). Analyst and sales support included.
Try Demo
Buy Now