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. #UKCompositesMarket, #\CompositesMarket

1. UK Composites Market Report
2019-2024: Trends, Forecast and Competitive
Analysis
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2. Industry Profiles Snapshot
Major Parameter Description
Market Segments by end use
application
transportation, construction, aerospace and defense, wind energy, and others
Market Segments by fiber type glass composites and carbon composites
Market Segments by resin type
UPR composites, epoxy composites, vinyl ester composites, polyamide
composites and polypropylene composites and other composites
Market Segments by
manufacturing process
hand layup, spray up, resin infusion, pultrusion, injection molding,
compression molding
Trend Growth Rate and CAGR 4.1%
Key Industry Forecast
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.
Key Industry Driver
Driver: 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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3. Industry Overview
Market Size
• 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.
• 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.
Market Size (2024) $1.2 billion
CAGR (2019-24) 4.1%
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Industry Performance : Forecast