The global construction composite market is estimated to register a CAGR of 5.9% during 2018-2023


Posted April 5, 2019 by bindub

The construction business is one of the significant enterprises, where composite materials are utilised. Construction composites are being used for repairing existing structures.

 
The Report “Global Construction Composites Market By Growth, By Size, By Share, Market Segmentation, Geography (North America, Asia-Pacific, South America, Europe, Middle East and Africa) By Company Profile, Forecast 2018-2024”.The global Construction Composites market is anticipated to achieve USD 8.52 Billion by 2024 from USD 5.58Billion in 2017, at a CAGR of 5.09%.Composites are general occurring materials that are made of two or more constituent materials. Composite structures are used for repairing subsist structures. The construction composites industries include products such as gratings, stairways and fences.

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Major raw materials for construction composite are Fibers
For the production of composite fiber majorly raw materials are used. The price of fiber and use of raw materials is to have high importance on production of composite. Brand new developments in the use of composite is to protect man against fire and a tendency to more ecofriendly design, leading to reintroduction of natural fibers in the composite technology. The success of composites in applications and by numbers, can be ranked by accessibility and reproducibility of the applied manufacturing techniques.
Industries that are familiar with Global construction composite market
Industries from aerospace to transportation are turning to composite market. In robotics the demand for composite is increasing. Deploying robots to work with fiber reinforced polymer material increases capacity of robot from jobs that are dangerous for mankind to perform. In civil infrastructure, composites are used to repair and replace roads and buildings. Composites are used in products that include sports equipment such as golf clubs and tennis rackets.
North America has the largest share market
As the demand for lightweight materials and non-corrosive material requirement is progressing, North America has the largest share globally. The U.S. is the largest consumer of construction composites in civil applications. The vital players in the construction composite market are advanced Environmental Recycling Technologies, Inc. (U.S.), Bedford Reinforced Plastics (U.S.), Diversified Structural Composites (U.S.), Exel Composites Oyj (Finland), Hughes Brothers, Inc. (U.S.), Jamco Corporation (Japan), Schoeck International (Germany), Strongwell Corporation (U.S.), Trex Company, Inc. (U.S.) and to name a few.
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Last Updated April 5, 2019