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):
- Transportation
- Construction
- Wind
Energy
- Aerospace and Defense
- Others
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
- Pultrusion
- Injection
Molding
- Compression
Molding
- Prepreg
Layup
- Others
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.
About
Lucintel
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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