In a recent published report, Kenneth Research has updated the market report for Global Construction Composite Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Construction Composite Market products.
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Construction is one of the largest markets for composites globally.Traditional Composites consists of wood, engineered wood, concrete and disc brake pads. But now, they have been taken over byfiber reinforced plastic composites whichare widely used because of the benefits they provide.
Primary benefits of composites include reduced weight and exceptional resistance to corrosion and rot which affect structures built with wood and steel. They also provide benefits such as less maintenance and repairs which reduce life-cycle costs. It further reduces installation costs as well as transportation costs. Owing to this great plethora of advantages, the Construction Composite market has picked up pace due to its greater design freedom which enables thecreation of complex shapes.
Here we will analyze the market dynamics such as drivers, trends and industry-specific challenges for the construction composite market.
The main drivers for composites in construction are the need for good corrosion resistance materials in corrosive environments. It is needed for cladding for roofs & walls, seawalls, decks & railings, ductwork and underground ventilation systems. It is sustainable in the long run and is used in pollution prevention applications and also building structures for alternative energy. Government initiatives to promote green building further promote its use in the construction industry is further driven by rising infrastructure development activities and investments across the emerging economies of the world
Owing to urbanization and emerging middle class in the developing countries, there has been rapid growth in the construction industry.
Restraint & Challenges
The potential challenges for the composite construction industry are rising costs, asset bubble\lose credit,and political instability. The other limiting factors are high cost of materials and the dearth of high volume manufacturing processes.
The market is segmented by Fiber type composites:
Carbon fibers are high in tensile strength, low in thermal expansion, high stiffness, high-temperature tolerance, high chemical resistance, and lightweight and outperform glass fibers. On the other hand, glass fiberis comparatively cheaper and less brittle than carbon fiber, and thus used significantly more in composites. Glass fibers are used as reinforcing agents in various polymer products to form lightweight plastic polymers.
The market is segmented by Resin type composites:
Thermoplastic resins can be re-melt and reshaped by heating above processing temperature. They are considerably less expensive, wieldable, non-toxic in nature, recyclable for other processes and have high toughness. On the other hand, Thermoset resins are synthetic materials that obtain more strength when heated, but cannot be remoulded after the initial heating. But it is much stronger as it can withstand high temperatures.
The market is segmented by Application:
There is increasing use of the product in application areas such as stairways, walkways, trash gates, gratings, and ladders in the industrial segment, owing to the anti-corrosion and moisture-proof properties are expected to drive the segment growth. Owing to the demand for low maintenance and durable products, the industrial and residential segments are expected to be the higher revenue-generating segments.
North America and Europe are still the dominant markets, with shares of 35% and 27% respectively, but faster growth rates in Asia-Pacific before the economic crash had indicated that the region would overtake Europe as the world’s second largest composites market by the end of the century. Consumption of composites in Asia-Pacific is currently less but with technology, this is likely to increase more than tenfold.
Some of the major players in the market include:
Fibergrate Composite Structures, Inc.
Advanced Environmental Recycling Technologies Inc.
Fiberon LLC; StrongwellCorporation
Trex Company, Inc
Zhengzhou YalongPultrex Composite Materials Co., Ltd.
Jiangsu Jiuding New Material Co.
Report ContentsRegional AnalysisReport Highlights
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Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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