In the last exploration of data from 2024, the UK Composites Sector continued its strong growth trajectory, reaching a total value of £14.007billion – an 4.83% increase from the previous year.
52,226 people are now employed in the industry – an increase of 4.78%, reflecting the high-value, skilled roles composites support across the country.These numbers reflect the strategically important nature of our industry which provides high value employment to thousands of people and contributes massively to the economy.
However, we have also seen a stagnation in our productivity with an increase of just 0.05% – almost nothing – which reflects the productivity challenge the UK has now faced since 2008.
What will next years numbers look like? – who knows – but the difficult times we sense that businesses are facing this year – may well come through in the numbers we present next year.
For a deeper dive into the most recent industry data and trends, access our full report available exclusively to Composites UK members, here (login required).