The composite raw material shipment in the European construction market is expected to reach $ 512 million by 2018, according to a report of Lucintel, the US-based management consulting and market research firm.
The European construction market for composites applications witnessed decline during the last five years due to the decline in the residential construction market, weak GDP, and decreased penetration. The market is now expected to recover over the next five years, said the Lucintel report. A moderate share of this increase can be attributed to the rising cost of raw materials which increase the need at some point, to pass a portion of these costs to the end consumers or risk raising prices in a marketplace with markedly high competition.
As per Lucintel report, applications such as FRP panel, bathtub, door, swimming pool, and rebar will drive the growth for composites during the forecast period. Much of the growth in these markets can be attributed to increasing energy efficiency requirements from consumers (doors, windows), escalating need for anti-corrosive applications (rebar, bridge deck) and greater focus on total lifecycle cost of end products as compared to those manufactured from materials such as steel and aluminium (utility poles).
According to Lucintel, the composites industry in European construction will continue to remain as one of the largest users of commodity grade unsaturated polyester resin and glass fibre in Europe despite the slowdown in 2012. This combination of polyester resin and glass fibre along with commonly used fillers will constitute greater than 97% of all raw materials used by volume as specific materials (such as carbon fibre, epoxy, vinyl ester, and polyurethane) are continuing to have little effect on the European construction market.
For the next five years, Lucintel predicts, the bath industry (showers, spas, whirlpools, spas, and traditional bath tubs) will remain the largest single purchaser of raw materials in the construction market. However, during the period the bath market will be stable relative to other faster growing markets including swimming pool.
The European construction market for composites applications witnessed decline during the last five years due to the decline in the residential construction market, weak GDP, and decreased penetration. The market is now expected to recover over the next five years, said the Lucintel report. A moderate share of this increase can be attributed to the rising cost of raw materials which increase the need at some point, to pass a portion of these costs to the end consumers or risk raising prices in a marketplace with markedly high competition.
As per Lucintel report, applications such as FRP panel, bathtub, door, swimming pool, and rebar will drive the growth for composites during the forecast period. Much of the growth in these markets can be attributed to increasing energy efficiency requirements from consumers (doors, windows), escalating need for anti-corrosive applications (rebar, bridge deck) and greater focus on total lifecycle cost of end products as compared to those manufactured from materials such as steel and aluminium (utility poles).
According to Lucintel, the composites industry in European construction will continue to remain as one of the largest users of commodity grade unsaturated polyester resin and glass fibre in Europe despite the slowdown in 2012. This combination of polyester resin and glass fibre along with commonly used fillers will constitute greater than 97% of all raw materials used by volume as specific materials (such as carbon fibre, epoxy, vinyl ester, and polyurethane) are continuing to have little effect on the European construction market.
For the next five years, Lucintel predicts, the bath industry (showers, spas, whirlpools, spas, and traditional bath tubs) will remain the largest single purchaser of raw materials in the construction market. However, during the period the bath market will be stable relative to other faster growing markets including swimming pool.