The
global construction composites market is expected to
reach USD 7.6 billion by 2025, according to a new report by Grand View
Research, Inc. The market is majorly driven by the growing construction
industry across the globe. Technological innovations involving construction
composites have led to the use of the product as replacement for aluminum and
wood.
The
construction composites industry includes a wide range of products such as
gratings, stairways, decks, railing, and fences with application scope in the
industrial, commercial, and household segments. Technological innovations have
led to the use of the products in the making of various structures that have
complex shapes and are impossible to build with other materials such as wood
and steel.
In
terms of revenue, the industrial application was the largest segment for the
product, accounting for 35.8% of the global industry in 2016. The application
scope in stairways, walkways, trash gates, gratings, and ladders in the
industrial segment is increasing owing to the anti-corrosion and moisture-proof
properties of the products.
Composites
offer superior properties such as durability, in comparison with other
traditional materials. Structures such as decks and rails do not fade away or
crack over time and also do not accumulate rust. These properties of composites
have helped it in gaining popularity in the industrial, commercial, and
household sectors.
U.S.
construction composites market, by application, 2014 - 2025 (USD Million)
Browse full
research report on Construction Composites Market: http://www.grandviewresearch.com/industry-analysis/construction-composites-market
Further
key findings from the report suggest:
- Residential application segment will experience
the highest growth in terms of revenue, slated to grow at a CAGR of 6.2%
from 2017 to 2025, mainly on account of the growing need for
environmental-friendly and durable products.
- Carbon fiber emerged as the largest segment
among fiber types in 2016, in terms of revenue, and is estimated to reach
a market size of over USD 4.40 billion by 2025. The segment revenue was
recorded at nearly USD 3 billion in 2016.
- The regional segment in Asia Pacific is
anticipated to observe considerable growth during the forecast years,
mainly owing to the robust growth in construction activities and
increasing infrastructure spending, especially in emerging economies of
India and China. In terms of revenue, the regional market is expected to
grow at a CAGR of 6.3% from 2017 to 2025.
- Key players in the industry focus on
acquisitions and capacity expansions to increase their competitiveness and
reinforce their positions in the market.
Browse more
reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Grand View Research has segmented the global construction composites market on the basis of, fiber type, resin type, application, and region:
Fiber Type
Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
- Carbon
fiber
- Glass
fiber
- Others
Resin Type
Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
- Thermoplastic
- Thermoset
Application
Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
- Industrial
- Commercial
- Residential
- Others
Regional
Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
- North
America
- U.S.
- Europe
- UK
- Germany
- Asia
Pacific
- China
- India
- Japan
- Central
& South America
- Brazil
- Middle
East & Africa
- South
Africa
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-construction-composites-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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