Overview of the global construction composites market
Market research analysts at Technavio predict that the global construction composites market will grow at a CAGR of around 6% by 2021. Composites can meet numerous design requirements posed by engineers and architects that are conveniently supported by significant weight savings and high strength-to-weight ratio when compared to conventional building materials. Composites offer many advantages in the construction sector such as improved tensile strength compared to steel and aluminum and great resistance to weathering and harsh chemicals that tend to damage conventional building materials. Moreover, composite structures can also bring down the weight by 30-40% compared to the same structures designed with aluminum. Such superior qualities of composites will be the primary factors fueling the growth of this market.
In terms of geographic regions, North America will be the major revenue contributor to the construction composites market throughout the forecast period. The market in North America is mainly driven by the growth of the construction sector that has emphasized on the demand for green construction. Moreover, the construction of bridges and tunnel in the region and the growing housing sector will also propel the market growth in North America.
Competitive landscape and key vendors
Owing to the presence of numerous vendors, the construction composites market is highly competitive. The vendors in the market offer alternate products that are based on novel technologies and processes and they mainly compete based on factors such as price, innovation, quality and performance, and customer-centrism. Many vendors also provide customized services that allow consumers to choose the exact performance quality they are looking for.
The leading vendors in the market are -
Advanced Environmental Recycling Technologies
The other prominent vendors in the market are Bedford Reinforced Plastics, Diversified Structural Composites, Exel Composites, faigle Kunststoffe, Fibergrate Composite Structures, FIBROLUX, Jiangsu Jiuding New Material, Pultron Composites, Schoeck International, and STRONGWELL CORPORATION.
Segmentation by fiber type and analysis of the construction composites market
During 2016, the glass fiber segment accounted for the major shares of the construction composites market. The construction composite materials that use glass fiber have better durability and offer superior mechanical properties. Properties of glass fiber such as high strength, increased stiffness, low cost, and light weight will contribute to the growth of this market segment in the coming years.
Segmentation by end-user and analysis of the construction composites market
As per this market research report, the industrial sector accounted for the maximum shares of the construction composites market during 2016. The increased usage of construction composites in industries such as water treatment plants, oil and gas units, chemical industries, and power generation plants will drive the growth of the market in this end-user segment.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global construction composites market?
What are the key market trends impacting the growth of the global construction composites market?
What are the challenges to market growth?
Who are the key vendors in the global construction composites market?
What are the market opportunities and threats faced by the vendors in the global construction composites market?
Trending factors influencing the market shares of the APAC, Europe, North America, and ROW.
What are the key outcomes of the five forces analysis of the global construction composites market?
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This upcoming market research report on the global construction composites market is an integral part of Technavio's chemicals and materials portfolio and offers key insights into the market space for metals and minerals. Technavio's insightful market research reports also offer insights on the market size, forecast, trends, and industry analysis to help clients build effective growth strategies. This upcoming market research report on the global construction composites market also covers vendors like 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 UPM Biocomposites (Finland).
This market research report on the global construction composites market also takes into account the growth of related market like metal matrix composites, which is anticipated to post a CAGR of over 6%, respectively during the forecast period. Furthermore, to offer clients the scope to identify potential market opportunities and expand in niche markets, this report on the global construction composites market also covers geographies like the Americas, EMEA, and APAC.
The upcoming industry report on the global construction composites market also offers insights into fast-growing segments within the chemicals and materials industry, including sectors like specialty chemicals, and olefins. Additionally, the report on the global construction composites market also presents insights into the changing competitive landscape and gives clients a complete view of the future direction of the metals and minerals industry.
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