Fior Markets launched a study titled “Global Construction Composites market by Fiber Type (Carbon, Glass, Others), Resin Type (Thermoset and thermoplastic), Application, Region” and Forecast 2018-2025.
Global Construction Composites market is expected to reach USD 8.86 billion in 2025 at a CAGR of 6.14% from 2018 to 2025. The major driving force behind the construction composite market is rising infrastructure development activities and investments across the emerging economies of the world.
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Carbon Fiber segment is expected to achieve a market share of about 42% by revenue by 2025.
Fiber type segment includes Carbon Fiber, Glass Fiber and others. Carbon Fiber segment is expected to achieve highest market share of about 42% of total market revenues by the year 2025 due to their properties of high tensile strength, high chemical resistance, low thermal expansion ratio, high temperature tolerance, high chemical resistance and lightweight. Glass Fiber segment is expected to achieve CAGR of nearly 7.47% during forecast period as it is increasingly replacing the carbon fiber.
The thermoplastic resin segment is expected to growth at 7.15% CAGR
Resin type is further segmented as Thermoset and thermoplastic type. The thermoplastic segment is expected to growth at 7.15% CAGR over the forecast period. Demand for cost effectiveness, recyclable, and non-toxicity construction composites is the driving force thid increase in growth. Thermoset segment is forecasted to grow at moderate pace of 5.89% CAGR over the forecast period due to its properties of being expensive and non-recyclable.
The industrial application segment held largest share 39% in 2017
Applications segment includes Residential, Industrial, Commercial and Others. Anti-corrosive and moisture-proof properties of construction composites have propelled the industrial segment market share to 39% total market revenue in 2017. Residential segment is also registering impressing growth based on increased spending on development of residential infrastructure and redevelopment of old structures.
Regional Segmentation Analysis:
The market is analyzed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific dominated the overall demand with 34.29% of total market by revenue in 2017, and this trend is expected to be maintained over the forecast period with expected CAGR of 7.67%. North America region is forecasted to grow at moderate pace on account of stagnant nature of its economy. South America region is also expected to progress at robust growth due to increased emphasis on development of residential structures in Brazil
The major players in Composite Chemicals market consists of Advanced Environmental Recycling Technologies, Inc., Bedford Reinforced Plastics, Diversified Structural Composites,Hughes Brothers, Inc., Jamco Corporation, Schoeck International, Strongwell Corporation, Trex Company, Inc. and UPM Biocomposites .
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