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4th March 2020, United Kingdom

Survey to benchmark UK’s competitiveness in global composites

Working together, Innovate UK and Knowledge Transfer Network (KTN), The Department for Business, Energy and Industrial Strategy (BEIS) and High Value Manufacturing Catapult (HVMC), have initiated an independent econometric survey of the UK Composites industry base. Market research consultants Lucintel, supported by Optimat Ltd. for the primary research phase of the project, have been commissioned to undertake a comprehensive data gathering exercise and strategic market study of the current UK composites market and supply chain.

The purpose of the survey is to provide BEIS with authoritative and up to date evidence of the current and projected value of the UK composites industrial output since the last survey, published back in 2015.  The new survey will provide latest market data and trends that will enable better informed UK Government investment decision making to support the future growth of the UK Composite industry.

Working with the Lucintel team leading the project, Glasgow based Optimat Ltd. has been brought in to deliver the extensive primary research interview and data gathering survey stage of the project.  Using the information gathered by Optimat from interviews with key people in companies across the industry and value chain, Lucintel will provide in-depth market and supply chain data analysis and identify potential strategic growth opportunities for the UK composites market.  Lucintel will also be applying its extensive global database to benchmark the competitiveness of the existing UK composites sector across industries and technologies throughout the value chain in key markets.

As well as helping to guide future policymaking and UK Government-supported investments, the study aims to identify attractive emerging technologies and market opportunities for future inward investments in British manufacturing to enhance the UK’s ability to compete in the global composites market in the long term in the UK and overseas. 

The project will be ongoing through 2020 but is expected to be completed by Q2. The key findings will be shared through the Knowledge Transfer Network with UK industry bodies to raise awareness of composites opportunities, to help shape the future of this important and growing industry within the UK.

www.lucintel.com

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