13-Apr-2022 | Facts and Factors
The global construction composites market was worth around USD 6825.1 million in 2021 and is estimated to grow to about USD 9572.4 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.8 percent over the forecast period. The report analyzes the construction composites market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the construction composites market.
Construction composites are gaining popularity in the construction industry owing to the rising demand for sustainable construction alternatives over the conventional ones that are currently used. These construction composites improve the overall quality of construction and enhance the properties of structural integrity and hence have seen a rise in popularity owing to specialty construction demand through 2028.
Browse the full “Construction Composites Market By Fiber Type (Glass Fiber, Carbon Fiber, Others), By Resin Type (Vinyl Easter, Epoxy, Others), By Product Type (Textile/ Fabric, Plate, Rebar, Mesh, Adhesive), By Application (Residential, Commercial, Bridge, Silo Flue Pipe, Oil & Natural Gas Pipe line, Water Structure, Industrial Structure, Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022 – 2028” report at https://www.fnfresearch.com/construction-composites-market
Construction composites are expected to see a hike in demand as construction activity rises substantially in the world. Rapid industrialization and urbanization on a global level will also prove to be a major driver for the construction composites market growth through the forecast period.
The rising population across the world has increased the demand for residential and commercial infrastructure resulting in increased industrial activity and subsequently driving the demand for construction composites in the long run.
Construction composites are priced higher than conventional composites and this is expected to restrain their adoption and will also hinder the global construction composites market growth through 2028. Construction composites companies are expected to focus and invest to overcome this restrain to maximize their sales revenue over the forecast period.
The pandemic of 2020 resulted in adverse conditions on a global scale and led to a downward trend in the global construction composites market growth. A decrease in construction activity led to a major drop in sales of construction composites in 2020. Restrictions imposed under lockdown conditions to contain the spread of coronavirus infections led to the downfall of multiple markets.
Disrupted logistics and supply chains, lack of skilled workforce, unavailability of raw materials, and restricted construction activity led to a drop in demand for construction composites. Restricted international trade activity also led to a negative impact on the construction composites market potential in the pandemic era.
The construction composites market is expected to rise at a steady pace in the post-pandemic era owing to rising construction activity on a global scale due to large-scale infrastructure development of economies.
The global construction composites market is segregated based on fiber type, product type, resin type, application, and region. Based on application, the construction composites market is segmented into the residential, commercial, bridge, silo flue pipe, oil & natural gas pipeline, water structure, industrial structure, others. The industrial segment is projected to see the most demand for construction composites over the forecast period as industrialization becomes a frequent trend across the world. The residential construction industry will also see a substantial increase in demand as the population of the world rises.
Asia Pacific region is expected to hold a dominant outlook in the global construction composites marketplace and this will majorly be driven by rising demand for infrastructural development in this region. Primarily emerging economies such as India and China are expected to lead the construction composites market potential in this region. The rising population is also expected to boost the construction activity in the residential sector. Rising sustainability trend will also be responsible for positively influencing the construction composites market growth as construction companies adopt more eco-friendly practices.
Key players functioning in the global construction composites market include Sika (Switzerland), Mapei SpA (Italy), Fosroc (UAE), Master Builders Solutions (Germany), Simpson Strong-Tie Company Inc. (US), are some of the key players in the construction repair composites market. Other players include Fyfe (US), AB-SCHOMBURG Yapý Kimyasallarý A.Þ. (Turkey), DowAksa (Turkey), Dextra Group (Thailand), Chomarat Group (France), Sireg Geotech S.r.l. (Italy), Owens Corning (US).
Recent developments:
- In February 2022, NEXCEL, a new Nonmetallic Excellence and Innovation Center was launched by Saudi Aramco and China Building Materials Academy to increase research and development of non metallic materials used in the building and construction industry landscape and boost their adoption.
Global Construction Composites market is segmented as follows:
By Fiber Type
- Glass Fiber
- Carbon Fiber
- Others
By Resin type
- Vinyl Easter
- Epoxy
- Others
By Product Type
- Textile/ Fabric
- Plate
- Rebar
- Mesh
- Adhesive
By Application
- Residential
- Commercial
- Bridge
- Silo Flue Pipe
- Oil & Natural Gas Pipe line
- Water Structure
- Industrial Structure
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Reunion
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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