European construction composites market is anticipated to showcase a considerable growth rate during the forecast period. The growing demand for construction composites from several European countries including the UK, France, Germany, and Spain for various construction applications is a key factor driving the regional market growth. In Europe, Germany is known to be the major manufacturer of construction composites. According to the Budget 2020 introduced in March 2020, by the end of the parliament, public sector net investment will be triple the average over the last 40 years in real terms. In total, around $816.6 billion of gross capital investment will be provided for roads, railways, communications, schools, hospitals, and power networks across the UK by 2024-25. Considerable investment in the construction sector is expected to augment the demand for construction composites.
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The improving economic conditions in Europe along with the shifting of investments from an international to an intercontinental arena and the increasing interest of private equity firms in the construction industry are some other factors that are contributing towards the growth of the regional market. The presence of key market players in the region is again contributing to the growth of the construction composites market in Europe.
The construction composites market is segmented based on fiber type, resin type, and end-user. Based on fiber type, the market is segmented into carbon fiber, glass fiber, and other types. Carbon fiber is expected to hold considerable market share based on fiber type owing to high strength and low weight. However, the adoption of carbon-free composites in European countries may restrain the growth of this market segment. Based on the resin type, the construction composites market is segmented into thermoplastic resin and thermosetting resin. Based on end-user, the market is segmented into residential, commercial & industrial.
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European Construction Composites Market Segmentation
By Fiber Type
· Carbon Fiber
· Glass Fiber
· Other Fiber
By Resin Type
· Thermoplastic Resin
· Thermosetting Resin
By End-User
· Residential
· Commercial
· Industrial
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