Steady Infrastructure Expansion Fuels Growth in the European Construction Composites Market, Finds Frost & Sullivan
Focus on product innovation and joint development activities will be critical for market expansion
LONDON, July 4, 2013 /PRNewswire/ -- Infrastructure development in Europe is steadily gathering pace following a period of weak demand during the economic downturn. As a result, the building and construction composites market in the region is gaining momentum. Technological advancements coupled with the superior performance attributes of composites will further boost uptake.
New analysis from Frost & Sullivan (http://www.chemicals.frost.com), Analysis of the European Building and Construction Composites Market, finds that the market earned revenues of 798.5 million euros in 2012 and estimates this to reach 1,186.1 million euros in 2019.
"Composites offer design flexibility, corrosion resistance, durability, easy installation, weatherproofing, and weight reduction. These benefits spur the market in Europe," said Frost & Sullivan Chemicals, Materials and Food Industry Analyst Sandeepan Mondal. "Recommendations by architects and engineers have also played a vital role in popularising composites, especially in emerging applications such as bridges, fibre-reinforced plastic panels, rebars, and door and window profiles."
Despite its advantages over traditional materials like metals, composites are seeing limited use in building and construction due to high raw material and fabrication costs. With the economic slowdown, tier-I manufacturers, contractors and engineering firms in Europe have become extremely cautious with their budgets, restraining investments in composite parts.
The building and construction industry's unfamiliarity with composites has further pushed adoption to the back burner. Difficulty in manufacturing, repairing and recycling composites adds to the challenge. In fact, the general perception is that full transition to composites is still 10 to 15 years away, and using composites along with metals is the way forward.
Therefore, collaboration between composite suppliers and part manufacturers is a crucial step towards quickening technical advancements and improving consumer awareness. Existing competitors can acquire smaller composite manufacturers to strengthen their product portfolio and appeal to a broader customer base.
"Focus on product innovation and joint development activities will be critical for market expansion, particularly in the long term as the European economy recovers," proposed Mondal. "Developing and marketing composite solutions that comply with evolving legislations will lead to robust growth."
If you are interested in more information on this research, please send an e-mail to Chiara Carella, Corporate Communications, at firstname.lastname@example.org, with your full contact details.
Analysis of the European Building and Construction Composites Market is part of the Chemicals & Materials Growth Partnership Service program. Frost & Sullivan's related research services include: Global Aviation Composites Market, Supply Chain Analysis of the Automotive Carbon Fibre Composites Market, European Composite Resins Market in Public Transport, and Prevalent Substitution Trends within Materials and Chemicals in Automotive Lightweighting. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organisation prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Analysis of the European Building and Construction Composites Market
Corporate Communications – Europe
P: +44 (0) 20 7343 8314
M: +44 (0) 753 3017689
SOURCE Frost & Sullivan
More by this Source
Frost & Sullivan Honors 2014 Excellence in Best Practices Award Recipients
Mar 14, 2014, 08:00 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.