Table of Content

1 Market Overview

• 1.1 Product Definition and Market Characteristics
• 1.2 Global Advanced Composites Market Size
• 1.3 Market Segmentation
• 1.4 Global Macroeconomic Analysis
• 1.5 SWOT Analysis

2. Market Dynamics

• 2.1 Market Drivers
• 2.2 Market Constraints and Challenges
• 2.3 Emerging Market Trends
• 2.4 Impact of COVID-19
  • 2.4.1 Short-term Impact
  • 2.4.2 Long-term Impact

3 Associated Industry Assessment

• 3.1 Supply Chain Analysis
• 3.2 Industry Active Participants
  • 3.2.1 Suppliers of Raw Materials
  • 3.2.2 Key Distributors/Retailers
• 3.3 Alternative Analysis
• 3.4 The Impact of Covid-19 From the Perspective of Industry Chain

4 Market Competitive Landscape

• 4.1 Industry Leading Players
• 4.2 Industry News
  • 4.2.1 Key Product Launch News
  • 4.2.2 M&A and Expansion Plans

5 Analysis of Leading Companies

• 5.1 Teijin
  • 5.1.1 Teijin Company Profile
  • 5.1.2 Teijin Business Overview
  • 5.1.3 Teijin Advanced Composites Sales, Revenue, Average Selling Price and Gross Margin (2015-2020)
  • 5.1.4 Teijin Advanced Composites Products Introduction
• 5.2 Toray Composites America
  • 5.2.1 Toray Composites America Company Profile
  • 5.2.2 Toray Composites America Business Overview
  • 5.2.3 Toray Composites America Advanced Composites Sales, Revenue, Average Selling Price and Gross Margin (2015-2020)
  • 5.2.4 Toray Composites America Advanced Composites Products Introduction
• 5.3 Dupont
  • 5.3.1 Dupont Company Profile
  • 5.3.2 Dupont Business Overview
  • 5.3.3 Dupont Advanced Composites Sales, Revenue, Average Selling Price and Gross Margin (2015-2020)
  • 5.3.4 Dupont Advanced Composites Products Introduction
• 5.4 HITCO Carbon Composites
  • 5.4.1 HITCO Carbon Composites Company Profile
  • 5.4.2 HITCO Carbon Composites Business Overview
  • 5.4.3 HITCO Carbon Composites Advanced Composites Sales, Revenue, Average Selling Price and Gross Margin (2015-2020)
  • 5.4.4 HITCO Carbon Composites Advanced Composites Products Introduction
• 5.5 Owens Corning
  • 5.5.1 Owens Corning Company Profile
  • 5.5.2 Owens Corning Business Overview
  • 5.5.3 Owens Corning Advanced Composites Sales, Revenue, Average Selling Price and Gross Margin (2015-2020)
  • 5.5.4 Owens Corning Advanced Composites Products Introduction
• 5.6 TPI Composites
  • 5.6.1 TPI Composites Company Profile
  • 5.6.2 TPI Composites Business Overview
  • 5.6.3 TPI Composites Advanced Composites Sales, Revenue, Average Selling Price and Gross Margin (2015-2020)
  • 5.6.4 TPI Composites Advanced Composites Products Introduction
• 5.7 Plasan Carbon Composites
  • 5.7.1 Plasan Carbon Composites Company Profile
  • 5.7.2 Plasan Carbon Composites Business Overview
  • 5.7.3 Plasan Carbon Composites Advanced Composites Sales, Revenue, Average Selling Price and Gross Margin (2015-2020)
  • 5.7.4 Plasan Carbon Composites Advanced Composites Products Introduction
• 5.8 Tencate
  • 5.8.1 Tencate Company Profile
  • 5.8.2 Tencate Business Overview
  • 5.8.3 Tencate Advanced Composites Sales, Revenue, Average Selling Price and Gross Margin (2015-2020)
  • 5.8.4 Tencate Advanced Composites Products Introduction
• 5.9 Cytec Solvay Group
  • 5.9.1 Cytec Solvay Group Company Profile
  • 5.9.2 Cytec Solvay Group Business Overview
  • 5.9.3 Cytec Solvay Group Advanced Composites Sales, Revenue, Average Selling Price and Gross Margin (2015-2020)
  • 5.9.4 Cytec Solvay Group Advanced Composites Products Introduction
• 5.10 Mitsubishi Rayon Carbon Fiber and Composites
  • 5.10.1 Mitsubishi Rayon Carbon Fiber and Composites Company Profile
  • 5.10.2 Mitsubishi Rayon Carbon Fiber and Composites Business Overview
  • 5.10.3 Mitsubishi Rayon Carbon Fiber and Composites Advanced Composites Sales, Revenue, Average Selling Price and Gross Margin (2015-2020)
  • 5.10.4 Mitsubishi Rayon Carbon Fiber and Composites Advanced Composites Products Introduction

6 Market Analysis and Forecast, By Product Types

• 6.1 Global Advanced Composites Sales, Revenue and Market Share by Types (2015-2020)
  • 6.1.1 Global Advanced Composites Sales and Market Share by Types (2015-2020)
  • 6.1.2 Global Advanced Composites Revenue and Market Share by Types (2015-2020)
  • 6.1.3 Global Advanced Composites Price by Types (2015-2020)
• 6.2 Global Advanced Composites Market Forecast by Types (2020-2025)
  • 6.2.1 Global Advanced Composites Market Forecast Sales and Market Share by Types (2020-2025)
  • 6.2.2 Global Advanced Composites Market Forecast Revenue and Market Share by Types (2020-2025)
• 6.3 Global Advanced Composites Sales, Price and Growth Rate by Types (2015-2020)
  • 6.3.1 Global Advanced Composites Sales, Price and Growth Rate of Thermosets Composites
  • 6.3.2 Global Advanced Composites Sales, Price and Growth Rate of Thermoplastic Composites
• 6.4 Global Advanced Composites Market Revenue and Sales Forecast, by Types (2020-2025)
  • 6.4.1 Thermosets Composites Market Revenue and Sales Forecast (2020-2025)
  • 6.4.2 Thermoplastic Composites Market Revenue and Sales Forecast (2020-2025)

7 Market Analysis and Forecast, By Applications

• 7.1 Global Advanced Composites Sales, Revenue and Market Share by Applications (2015-2020)
  • 7.1.1 Global Advanced Composites Sales and Market Share by Applications (2015-2020)
  • 7.1.2 Global Advanced Composites Revenue and Market Share by Applications (2015-2020)
• 7.2 Global Advanced Composites Market Forecast by Applications (2020-2025)
  • 7.2.1 Global Advanced Composites Market Forecast Sales and Market Share by Applications (2020-2025)
  • 7.2.2 Global Advanced Composites Market Forecast Revenue and Market Share by Applications (2020-2025)
• 7.3 Global Revenue, Sales and Growth Rate by Applications (2015-2020)
  • 7.3.1 Global Advanced Composites Revenue, Sales and Growth Rate of Aerospace industry (2015-2020)
  • 7.3.2 Global Advanced Composites Revenue, Sales and Growth Rate of Sporting goods (2015-2020)
  • 7.3.3 Global Advanced Composites Revenue, Sales and Growth Rate of Automotive (2015-2020)
  • 7.3.4 Global Advanced Composites Revenue, Sales and Growth Rate of Industrial (2015-2020)
• 7.4 Global Advanced Composites Market Revenue and Sales Forecast, by Applications (2020-2025)
  • 7.4.1 Aerospace industry Market Revenue and Sales Forecast (2020-2025)
  • 7.4.2 Sporting goods Market Revenue and Sales Forecast (2020-2025)
  • 7.4.3 Automotive Market Revenue and Sales Forecast (2020-2025)
  • 7.4.4 Industrial Market Revenue and Sales Forecast (2020-2025)

8 Market Analysis and Forecast, By Regions

• 8.1 Global Advanced Composites Sales by Regions (2015-2020)
• 8.2 Global Advanced Composites Market Revenue by Regions (2015-2020)
• 8.3 Global Advanced Composites Market Forecast by Regions (2020-2025)

9 North America Advanced Composites Market Analysis

• 9.1 Market Overview and Prospect Analysis
• 9.2 North America Advanced Composites Market Sales and Growth Rate (2015-2020)
• 9.3 North America Advanced Composites Market Revenue and Growth Rate (2015-2020)
• 9.4 North America Advanced Composites Market Forecast
• 9.5 The Influence of COVID-19 on North America Market
• 9.6 North America Advanced Composites Market Analysis by Country
  • 9.6.1 U.S. Advanced Composites Sales and Growth Rate
  • 9.6.2 Canada Advanced Composites Sales and Growth Rate
  • 9.6.3 Mexico Advanced Composites Sales and Growth Rate

10 Europe Advanced Composites Market Analysis

• 10.1 Market Overview and Prospect Analysis
• 10.2 Europe Advanced Composites Market Sales and Growth Rate (2015-2020)
• 10.3 Europe Advanced Composites Market Revenue and Growth Rate (2015-2020)
• 10.4 Europe Advanced Composites Market Forecast
• 10.5 The Influence of COVID-19 on Europe Market
• 10.6 Europe Advanced Composites Market Analysis by Country
  • 10.6.1 Germany Advanced Composites Sales and Growth Rate
  • 10.6.2 United Kingdom Advanced Composites Sales and Growth Rate
  • 10.6.3 France Advanced Composites Sales and Growth Rate
  • 10.6.4 Italy Advanced Composites Sales and Growth Rate
  • 10.6.5 Spain Advanced Composites Sales and Growth Rate
  • 10.6.6 Russia Advanced Composites Sales and Growth Rate

11 Asia-Pacific Advanced Composites Market Analysis

• 11.1 Market Overview and Prospect Analysis
• 11.2 Asia-Pacific Advanced Composites Market Sales and Growth Rate (2015-2020)
• 11.3 Asia-Pacific Advanced Composites Market Revenue and Growth Rate (2015-2020)
• 11.4 Asia-Pacific Advanced Composites Market Forecast
• 11.5 The Influence of COVID-19 on Asia Pacific Market
• 11.6 Asia-Pacific Advanced Composites Market Analysis by Country
  • 11.6.1 China Advanced Composites Sales and Growth Rate
  • 11.6.2 Japan Advanced Composites Sales and Growth Rate
  • 11.6.3 South Korea Advanced Composites Sales and Growth Rate
  • 11.6.4 Australia Advanced Composites Sales and Growth Rate
  • 11.6.5 India Advanced Composites Sales and Growth Rate

12 South America Advanced Composites Market Analysis

• 12.1 Market Overview and Prospect Analysis
• 12.2 South America Advanced Composites Market Sales and Growth Rate (2015-2020)
• 12.3 South America Advanced Composites Market Revenue and Growth Rate (2015-2020)
• 12.4 South America Advanced Composites Market Forecast
• 12.5 The Influence of COVID-19 on South America Market
• 12.6 South America Advanced Composites Market Analysis by Country
  • 12.6.1 Brazil Advanced Composites Sales and Growth Rate
  • 12.6.2 Argentina Advanced Composites Sales and Growth Rate
  • 12.6.3 Columbia Advanced Composites Sales and Growth Rate

13 Middle East and Africa Advanced Composites Market Analysis

• 13.1 Market Overview and Prospect Analysis
• 13.2 Middle East and Africa Advanced Composites Market Sales and Growth Rate (2015-2020)
• 13.3 Middle East and Africa Advanced Composites Market Revenue and Growth Rate (2015-2020)
• 13.4 Middle East and Africa Advanced Composites Market Forecast
• 13.5 The Influence of COVID-19 on Middle East and Africa Market
• 13.6 Middle East and Africa Advanced Composites Market Analysis by Country
  • 13.6.1 UAE Advanced Composites Sales and Growth Rate
  • 13.6.2 Egypt Advanced Composites Sales and Growth Rate
  • 13.6.3 South Africa Advanced Composites Sales and Growth Rate

14 Conclusions and Recommendations

• 14.1 Key Market Findings and Prospects
• 14.2 Advice for Investors

15 Appendix

• 15.1 Methodology
• 15.2 Research Data Source

List of Tables and Figures

Figure Product Picture

Figure Global Advanced Composites Market Size and Growth Rate 2015-2025

Table Advanced Composites Key Market Segments

Figure Global Advanced Composites Market Revenue ($) Segment by Type from 2015-2020

Figure Global Advanced Composites Market Revenue ($) Segment by Applications from 2015-2020

Table SWOT Analysis

Figure Global COVID-19 Status

Figure Supply Chain

Table Major Players Headquarters, and Service Area of Advanced Composites

Table Major Players Revenue in 2019

Figure Major Players Revenue Share in 2019

Table Teijin Company Profile

Table Teijin Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020)

Figure Teijin Production and Growth Rate

Figure Teijin Market Revenue ($) Market Share 2015-2020

Table Toray Composites America Company Profile

Table Toray Composites America Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020)

Figure Toray Composites America Production and Growth Rate

Figure Toray Composites America Market Revenue ($) Market Share 2015-2020

Table Dupont Company Profile

Table Dupont Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020)

Figure Dupont Production and Growth Rate

Figure Dupont Market Revenue ($) Market Share 2015-2020

Table HITCO Carbon Composites Company Profile

Table HITCO Carbon Composites Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020)

Figure HITCO Carbon Composites Production and Growth Rate

Figure HITCO Carbon Composites Market Revenue ($) Market Share 2015-2020

Table Owens Corning Company Profile

Table Owens Corning Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020)

Figure Owens Corning Production and Growth Rate

Figure Owens Corning Market Revenue ($) Market Share 2015-2020

Table TPI Composites Company Profile

Table TPI Composites Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020)

Figure TPI Composites Production and Growth Rate

Figure TPI Composites Market Revenue ($) Market Share 2015-2020

Table Plasan Carbon Composites Company Profile

Table Plasan Carbon Composites Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020)

Figure Plasan Carbon Composites Production and Growth Rate

Figure Plasan Carbon Composites Market Revenue ($) Market Share 2015-2020

Table Tencate Company Profile

Table Tencate Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020)

Figure Tencate Production and Growth Rate

Figure Tencate Market Revenue ($) Market Share 2015-2020

Table Cytec Solvay Group Company Profile

Table Cytec Solvay Group Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020)

Figure Cytec Solvay Group Production and Growth Rate

Figure Cytec Solvay Group Market Revenue ($) Market Share 2015-2020

Table Mitsubishi Rayon Carbon Fiber and Composites Company Profile

Table Mitsubishi Rayon Carbon Fiber and Composites Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020)

Figure Mitsubishi Rayon Carbon Fiber and Composites Production and Growth Rate

Figure Mitsubishi Rayon Carbon Fiber and Composites Market Revenue ($) Market Share 2015-2020

Table Global Advanced Composites Sales by Types (2015-2020)

Table Global Advanced Composites Sales Share by Types (2015-2020)

Table Global Advanced Composites Revenue ($) by Types (2015-2020)

Table Global Advanced Composites Revenue Share by Types (2015-2020)

Table Global Advanced Composites Price ($) by Types (2015-2020)

Table Global Advanced Composites Market Forecast Sales by Types (2020-2025)

Table Global Advanced Composites Market Forecast Sales Share by Types (2020-2025)

Table Global Advanced Composites Market Forecast Revenue ($) by Types (2020-2025)

Table Global Advanced Composites Market Forecast Revenue Share by Types (2020-2025)

Figure Global Thermosets Composites Sales and Growth Rate (2015-2020)

Figure Global Thermosets Composites Price (2015-2020)

Figure Global Thermoplastic Composites Sales and Growth Rate (2015-2020)

Figure Global Thermoplastic Composites Price (2015-2020)

Figure Global Advanced Composites Market Revenue ($) and Growth Rate Forecast of Thermosets Composites (2020-2025)

Figure Global Advanced Composites Sales and Growth Rate Forecast of Thermosets Composites (2020-2025)

Figure Global Advanced Composites Market Revenue ($) and Growth Rate Forecast of Thermoplastic Composites (2020-2025)

Figure Global Advanced Composites Sales and Growth Rate Forecast of Thermoplastic Composites (2020-2025)

Table Global Advanced Composites Sales by Applications (2015-2020)

Table Global Advanced Composites Sales Share by Applications (2015-2020)

Table Global Advanced Composites Revenue ($) by Applications (2015-2020)

Table Global Advanced Composites Revenue Share by Applications (2015-2020)

Table Global Advanced Composites Market Forecast Sales by Applications (2020-2025)

Table Global Advanced Composites Market Forecast Sales Share by Applications (2020-2025)

Table Global Advanced Composites Market Forecast Revenue ($) by Applications (2020-2025)

Table Global Advanced Composites Market Forecast Revenue Share by Applications (2020-2025)

Figure Global Aerospace industry Sales and Growth Rate (2015-2020)

Figure Global Aerospace industry Price (2015-2020)

Figure Global Sporting goods Sales and Growth Rate (2015-2020)

Figure Global Sporting goods Price (2015-2020)

Figure Global Automotive Sales and Growth Rate (2015-2020)

Figure Global Automotive Price (2015-2020)

Figure Global Industrial Sales and Growth Rate (2015-2020)

Figure Global Industrial Price (2015-2020)

Figure Global Advanced Composites Market Revenue ($) and Growth Rate Forecast of Aerospace industry (2020-2025)

Figure Global Advanced Composites Sales and Growth Rate Forecast of Aerospace industry (2020-2025)

Figure Global Advanced Composites Market Revenue ($) and Growth Rate Forecast of Sporting goods (2020-2025)

Figure Global Advanced Composites Sales and Growth Rate Forecast of Sporting goods (2020-2025)

Figure Global Advanced Composites Market Revenue ($) and Growth Rate Forecast of Automotive (2020-2025)

Figure Global Advanced Composites Sales and Growth Rate Forecast of Automotive (2020-2025)

Figure Global Advanced Composites Market Revenue ($) and Growth Rate Forecast of Industrial (2020-2025)

Figure Global Advanced Composites Sales and Growth Rate Forecast of Industrial (2020-2025)

Figure Global Advanced Composites Sales and Growth Rate (2015-2020)

Table Global Advanced Composites Sales by Regions (2015-2020)

Table Global Advanced Composites Sales Market Share by Regions (2015-2020)

Figure Global Advanced Composites Sales Market Share by Regions in 2019

Figure Global Advanced Composites Revenue and Growth Rate (2015-2020)

Table Global Advanced Composites Revenue by Regions (2015-2020)

Table Global Advanced Composites Revenue Market Share by Regions (2015-2020)

Figure Global Advanced Composites Revenue Market Share by Regions in 2019

Table Global Advanced Composites Market Forecast Sales by Regions (2020-2025)

Table Global Advanced Composites Market Forecast Sales Share by Regions (2020-2025)

Table Global Advanced Composites Market Forecast Revenue ($) by Regions (2020-2025)

Table Global Advanced Composites Market Forecast Revenue Share by Regions (2020-2025)

Figure North America Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure North America Advanced Composites Market Revenue and Growth Rate (2015-2020)

Figure North America Advanced Composites Market Forecast Sales (2020-2025)

Figure North America Advanced Composites Market Forecast Revenue ($) (2020-2025)

Figure North America COVID-19 Status

Figure U.S. Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure Canada Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure Mexico Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure Europe Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure Europe Advanced Composites Market Revenue and Growth Rate (2015-2020)

Figure Europe Advanced Composites Market Forecast Sales (2020-2025)

Figure Europe Advanced Composites Market Forecast Revenue ($) (2020-2025)

Figure Europe COVID-19 Status

Figure Germany Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure United Kingdom Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure France Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure Italy Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure Spain Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure Russia Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure Asia-Pacific Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure Asia-Pacific Advanced Composites Market Revenue and Growth Rate (2015-2020)

Figure Asia-Pacific Advanced Composites Market Forecast Sales (2020-2025)

Figure Asia-Pacific Advanced Composites Market Forecast Revenue ($) (2020-2025)

Figure Asia Pacific COVID-19 Status

Figure China Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure Japan Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure South Korea Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure Australia Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure India Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure South America Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure South America Advanced Composites Market Revenue and Growth Rate (2015-2020)

Figure South America Advanced Composites Market Forecast Sales (2020-2025)

Figure South America Advanced Composites Market Forecast Revenue ($) (2020-2025)

Figure Brazil Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure Argentina Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure Columbia Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure Middle East and Africa Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure Middle East and Africa Advanced Composites Market Revenue and Growth Rate (2015-2020)

Figure Middle East and Africa Advanced Composites Market Forecast Sales (2020-2025)

Figure Middle East and Africa Advanced Composites Market Forecast Revenue ($) (2020-2025)

Figure UAE Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure Egypt Advanced Composites Market Sales and Growth Rate (2015-2020)

Figure South Africa Advanced Composites Market Sales and Growth Rate (2015-2020)

Based on the Advanced Composites market development status, competitive landscape and development model in different regions of the world, this report is dedicated to providing niche markets, potential risks and comprehensive competitive strategy analysis in different fields. From the competitive advantages of different types of products and services, the development opportunities and consumption characteristics and structure analysis of the downstream application fields are all analyzed in detail. To Boost Growth during the epidemic era, this report analyzes in detail for the potential risks and opportunities which can be focused on.

In Chapter 2.4 of the report, we share our perspectives for the impact of COVID-19 from the long and short term.
In chapter 3.4, we provide the influence of the crisis on the industry chain, especially for marketing channels.
In chapters 8-13, we update the timely industry economic revitalization plan of the country-wise government.

Key players in the global Advanced Composites market covered in Chapter 5:
Teijin
Toray Composites America
Dupont
HITCO Carbon Composites
Owens Corning
TPI Composites
Plasan Carbon Composites
Tencate
Cytec Solvay Group
Mitsubishi Rayon Carbon Fiber and Composites

In Chapter 6, on the basis of types, the Advanced Composites market from 2015 to 2025 is primarily split into:
Thermosets Composites
Thermoplastic Composites

In Chapter 7, on the basis of applications, the Advanced Composites market from 2015 to 2025 covers:
Aerospace industry
Sporting goods
Automotive
Industrial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2015-2025) of the following regions are covered in Chapter 8-13:
North America (Covered in Chapter 9)
United States
Canada
Mexico
Europe (Covered in Chapter 10)
Germany
UK
France
Italy
Spain
Russia
Others
Asia-Pacific (Covered in Chapter 11)
China
Japan
South Korea
Australia
India
South America (Covered in Chapter 12)
Brazil
Argentina
Columbia
Middle East and Africa (Covered in Chapter 13)
UAE
Egypt
South Africa

Years considered for this report:
Historical Years: 2015-2019
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2020-2025