Trends, opportunities and forecast in UK composites market to 2024 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)
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.
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In this market, different types of UK composites such as glass composites and carbon composites are used as fiber type.
On the basis of comprehensive research, Lucintel forecasts that 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.
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 greenhouse gas emissions. Wind energy is expected to witness the highest growth over the forecast period due to growth in offshore wind turbine installations.
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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.
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Emerging trends, which have a direct impact on the dynamics of the UK composites 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 the UK composites market by end use industry, by manufacturing process, by fiber type, and resin type and has come up with 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
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This 170-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, click on this link www.lucintel.com/uk-comp…arket.aspx
Category: Market Research Publishers and RetailersCompany about: Lucintel, the premier global market research and management consulting firm creates your equation for growth - whether you need to understand market dynamics, identify new opportunities or increase your profitability. Lucintel team of trusted industry experts for materials and manufacturing industries have executed over hundreds of consulting projects for clients, ranging from small, emerging organizations up to multinational companies such as 3M, Audi, BASF, Cytec, DSM, Eastman, GE, H ...