Construction Composites Market Size, Share Global Analysis Report, 2022 – 2028

Industry Insights

[205+ Pages Report] According to 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% 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.

Market Overview

The construction composites market is anticipated to see a substantial increase in demand over the forecast period. Increasing infrastructural activity across the world is expected to boost the demand for construction composites through 2028. Increasing research and development to find sustainable construction alternatives is also projected to boost the construction composites market growth in the coming years.

Increasing urbanization and industrialization have propelled the demand for infrastructure on a global scale is expected to boost the construction activity and hence will majorly influence the construction composites market growth over the forecast period.

COVID-19 Impact:

The COVID-19 pandemic that led to lockdowns and adverse economic conditions on a global scale led to the downfall of the construction composites market growth in 2020. As coronavirus infections across the world increased rapidly the nations adopted lockdowns and closed borders to curb the spread and this led to a substantial drop in construction activity as outdoor activity was prohibited.

Disrupted logistics, imbalanced supply and demand chains, shortage of raw materials, and lack of skilled labor are some other factors that restricted constriction activity and led to a construction composites market potential drop.

As lockdowns are lifted and infections come under control the world is returning to normal and this trend is expected to bring a steady demand back for the construction composites market in the post-pandemic era. High infrastructural activity across the world to recover from pandemics will boost construction projects and this subsequently will drive the market for construction composites over the forecast period.  

Growth Drivers

• Increasing Construction in Emerging Economies

The world is witnessing rapid urbanization and industrialization in recent years and this trend has spawned a high increase in demand for infrastructural development and boosted the demand for construction materials and composites. The growing population of the world is also demanding a developed residential infrastructure and hence booming the construction activity for the same. Emerging economies like India and China are expected to be highly lucrative markets for construction composites over the forecast period owing to rising construction activity and demand for infrastructure development.

Restraints

• High Costs of construction composites than conventional composites

Construction Composites are more expensive than conventional substitutes and have seen a wide scope of application. But construction in developing and underdeveloped economies is not one with high spending potential and this factor alone is abstaining the construction composites market from attaining its full potential over the forecast period.  High costs of fibers used in composites are a major factor that increases the prices of construction composites.

Segmentation Analysis

The global Construction Composites market is segregated based on fiber type, resin type, application, product type and region.

By fiber type, the market is divided into glass fiber, carbon fiber, and others. The carbon fiber segment is expected to have a bright outlook over the forecast period owing to its high tensile strength properties and but the glass fibers segment is expected to hold a dominant stance through the complete forecast period.

By Application, the construction composites market is segmented into the residential, commercial, bridge, silo flue pipe, oil & natural gas pipe line, water structure, industrial structure, and others. The industrial segment is expected to be the most lucrative market for construction composites over the forecast period owing to increasing industrialization on a global scale and rising industrial activity. While the residential segment will be the second-most lucrative segment owing to the rise in residential construction activity through 2028.

Report Scope

Regional Landscape

In terms of revenue and share the Asia Pacific region leads the global Construction Composites market and is expected to maintain this stance over the forecast period as well. High infrastructural development has led to a substantial increase in construction activity in this region and is propelling the construction composites market growth through 2028. Rapid urbanization and industrialization are prominent trends that are influencing the construction composites market potential in this region. The emerging economies of China and India are projected to be the most significant markets in this region. The budding construction sector in most economies will also favor construction composites market growth in the Asia Pacific region over the forecast.

The market for Construction Composites in North America is expected to have a bright outlook on the back of increasing construction activity in the residential sector and is expected to be boosted by the demand for sustainable construction alternatives to replace conventional raw materials.

Recent Developments

• In November 2021 – B&T Composites a leading composite manufacturer from Greece announced that it will be starting a project that would explore the prospect of building novel carbon fiber composite pressure vessel solutions for hydrogen storage which is gaining popularity.

Competitive Landscape

Some of the main competitors dominating the global Construction Composites market include -

• Sika (Switzerland) 
• Mapei SpA (Italy) 
• Fosroc (UAE) 
• Master Builders Solutions (Germany) 
• Simpson Strong-Tie Company Inc. (US) 
• 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)

The global construction composites market is segmented as follows:

By Fiber Type Segment Analysis

• Glass Fiber
• Carbon Fiber
• Others

By Resin Type Segment Analysis

• Vinyl Easter
• Epoxy
• Others

By Product Type Segment Analysis

• Textile/ Fabric
• Plate
• Rebar
• Mesh
• Adhesive

By Application Segment Analysis

• Residential
• Commercial
• Bridge
• Silo Flue Pipe
• Oil & Natural Gas Pipe line
• Water Structure
• Industrial Structure
• Others

By Regional Segment Analysis

• 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