UK Composite Strengthening Systems Market Size & Outlook
Related Markets
UK composite strengthening systems market highlights
- The UK composite strengthening systems market generated a revenue of USD 6.0 million in 2023 and is expected to reach USD 9.9 million by 2030.
- The UK market is expected to grow at a CAGR of 7.7% from 2024 to 2030.
- In terms of segment, fiber-reinforced polymer (frp) was the largest revenue generating product in 2023.
- Fiber-Reinforced Polymer (FRP) is the most lucrative product segment registering the fastest growth during the forecast period.
Composite strengthening systems market data book summary
| Market revenue in 2023 | USD 6.0 million |
| Market revenue in 2030 | USD 9.9 million |
| Growth rate | 7.7% (CAGR from 2024 to 2030) |
| Largest segment | Fiber-reinforced polymer (frp) |
| Fastest growing segment | Fiber-Reinforced Polymer (FRP) |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Fiber-Reinforced Polymer (FRP), Fabric-Reinforced Cementitious Matrix (FRCM) |
| Key market players worldwide | Simpson Strong-Tie Company |
Other key industry trends
- In terms of revenue, UK accounted for 3.7% of the global composite strengthening systems market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Europe, Germany composite strengthening systems market is projected to lead the regional market in terms of revenue in 2030.
- Germany is the fastest growing regional market in Europe and is projected to reach USD 10.5 million by 2030.
Fiber-reinforced polymer (frp) was the largest segment with a revenue share of 75% in 2023. Horizon Databook has segmented the UK composite strengthening systems market based on fiber-reinforced polymer (frp), fabric-reinforced cementitious matrix (frcm) covering the revenue growth of each sub-segment from 2018 to 2030.
The Construction Products Association (CPA) in the UK estimates that the construction output of the UK will contract by 0.3% in 2024, owing to the rising real estate interest rates and growing inflation.
The infrastructure output of the UK is expected to decline slightly, as more road projects are delayed or canceled for 2024 as compared to the projects in Q4 of 2023.
However, construction companies in the UK saw a slight rise in total business activity in August 2023, with growth in the commercial and civil engineering sectors compensating for a decrease in housebuilding.
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Composite Strengthening Systems Market Scope
Composite Strengthening Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Simpson Strong-Tie Company | View profile | 1001-5000 | Pleasanton, California, United States, North America | https://www.strongtie.com |
UK composite strengthening systems market size, by product, 2018-2030 (US$M)
UK Composite Strengthening Systems Market Outlook Share, 2023 & 2030 (US$M)
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