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Opportunities For The Uk Composites Market To Reach $1.2 Billion By 2024
According to a new market report published by Lucintel, the future of the UK composites market looks attractive with opportunities in transportation, aerospace & defense, construction, wind energy, and others industry. The UK composites market declined in 2018, however it is forecast to grow with a CAGR of 4.1% from 2019 to 2024 to reach an estimated $1.2 billion by 2024. The major drivers in this market are increasing demand for lightweight materials in the aerospace & defense, automotive, and wind energy industries; the UK composites market will also see increased demand due to the need for materials that offer corrosion and chemical resistance in the construction industry.
In this market, glass fiber and carbon fiber are the utilized to manufacture composites parts for various end use industries. Carbon composites are expected to witness the highest growth rate over the forecast period. Increasing penetration of carbon composites in automotive and other weight sensitive applications will spur growth for carbon fiber over the forecast period from 2019 to 2024.
By resin type, thermoset and thermoplastic ...
... resins are used to make composite parts. In thermoset, polyester composite is expected to remain the largest market by volume consumption. In thermoplastic resins, polyamide (PA) is expected to remain the largest market by value and volume consumption due to increasing demand in transportation and consumer goods applications.
Within this market, transportation will remain the largest market by value and volume due to increasing demand for lightweight materials to achieve higher fuel efficiency and to reduce green house gas emissions. Wind energy is expected to witness the highest growth over the forecast period due to growth in offshore wind turbine installations.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of low-cost carbon fibers as well as high performance glass fiber, and development of rapid cure resin systems.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the UK composites market by end use industry, manufacturing process, fiber type, and resin type. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the UK Composites Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the UK composites market by end use industry, by manufacturing process, by fiber type, and resin type as follows:
By End Use Industry ($ Million and Million Pounds shipment analysis for 2013 to 2024):
• Wind Energy
• Aerospace and Defense
By Fiber Type ($ Million and Million Pounds shipment analysis for 2013 to 2024):
• Glass Composites
• Carbon Composites
By Resin Type ($ Million and Million Pounds shipment analysis for 2013 to 2024):
• Unsaturated Polyester (UPR) Composites
• Epoxy Composites
• Polyamide Composites
• Polypropylene Composites
• Vinyl Ester Composites
• Others Composites
By Manufacturing Process ($ Million and Million Pounds shipment analysis for 2013 to 2024):
• Hand Layup
• Spray Up
• Resin Infusion
• Injection Molding
• Compression Molding
• Prepreg Layup
This 170 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@Lucintel.com Lucintel offerings include advanced materials reports, composite materials market report, strategic growth consulting, market research due diligence and business strategy consulting.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. We offer market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, growth opportunities for the UK composites market by end use application (transportation, construction, aerospace and defense, wind energy, and others), by fiber type (glass composites and carbon composites),and by resin type (UPR composites, epoxy composites, vinyl ester composites, polyamide composites and polypropylene composites and other composites) and by manufacturing process (hand layup, spray up, resin infusion, pultrusion, injection molding, compression molding, prepreg layup and others)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are emerging trends in this market and the reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the leading players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and to what extent do they pose a threat for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last five years in this market?
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