According to the recent study the UK composites market is projected to reach an estimated $1.2 billion by 2024, at a CAGR of 4.1% from 2020 to 2025. Growth in this market is primarily driven by 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.
Browse 67 figures / charts and 49 tables in this 170 -page report to understand trends, opportunities and forecast in UK composites market by end use industry (transportation, construction, wind energy, aerospace and defense, and others), fiber type (glass composites, carbon composites), resin type (unsaturated polyester (UPR) composites, epoxy composites, polyamide composites, polypropylene composites, vinyl ester composites, and others), and manufacturing process (hand layup, spray up, resin infusion, pultrusion, injection molding, compression molding, prepreg layup, and others).
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“Vinyl market is expected to remain the largest segment during the forecast period.”
Based on fiber type, the UK composites market is segmented into glass composites, carbon composites. Lucintel forecasts that the carbon composites is expected to witness the largest segment over the forecast period and will witness the highest growth during the forecast period due to increasing penetration of carbon composites in automotive and other weight sensitive applications will spur growth for carbon fiber.
“Within the UK composites market, the transportation segment is expected to remain the largest end use industry”
Based on end use industry, the transportation segment is expected to witness the largest end use industry over the forecast period with expected to witness the highest growth during the forecast period 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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Major players of UK composites market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market.
This unique 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 click on this link https://www.lucintel.com/press/uk-composites-market.aspx or [email protected]
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