Global Construction Composites Market – Industry Trends and Forecast to 2029

Global Construction Composites Market, By Fibre Type (Glass Fibre, Natural Fibre, Others), Resin Type (Polyester Resin, Vinyl Ester, Polyethylene, Polypropylene, Others), Application (Industrial, Commercial, Housing, Civil) – Industry Trends and Forecast to 2029.

Construction Composites Market Analysis and Size

Construction composites are capable of sustaining the integrity of the construction in which these composites are being used even in sever conditions. Composites used in construction in various forms, there are two of the major forms of construction composites which are fiber composites and resin composites. Major application of the construction composites market comprise housing and civil, commercial and industrial construction structures. Moreover, the construction composites market is expected to grow in the forecast period due to growing use of composites in the construction industry and their low maintenance cost and longevity.

Data Bridge Market Research analyses that the construction composites market is expected to undergo a CAGR of 5.55% during the forecast period. This indicates that the market value, which was USD 51.50 billion in 2021, would rocket up to USD 79.34 billion by 2029.  In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Construction Composites Market Scope and Segmentation

Market Definition

A construction composite is a material engineered from two or more materials with different chemical or physical properties. This takes features from the combined materials to produce high-performing building material. Several types of construction composite materials are needed for the construction project.

Construction Composites Market Dynamics

Drivers

• Rising demand for fiber glass composites

Fiberglass is emerging as the fastest growing and the most popular composite because of its high tensile strength, excellent durability and super lightweight properties. The rising demand for effective and efficient fiberglass composites materials to make the commercial and residential building parts are expected to drive the overall growth of the construction composites market.

• Increased Utilization in housing and commercial sector

The need for construction composites is growing due to high demand in the housing and commercial constructions because these composites offer lower maintenance cost than railing products and timber decking. The demand for high strength and corrosion-resistant construction materials are increased which expected to see a significant growth in the market.

Furthermore, the increasing applications from emerging countries coupled with the adoption of natural composites will further drive the growth rate of construction composites market. Also, the low cost of carbon fiber will also drive the market value growth during forecast period.

Opportunities

• Awareness and Replacement

The rising awareness due to strict government rules and regulations about the use of construction composites will further extend the profitable opportunities to the construction composites market players during the forecast period of 2022 to 2029.

Additionally, due to wide range of application such as in construction and infrastructure, aerospace and defence, and other will further expand the future create immense opportunities for the growth of the construction composites market.

Restraints/Challenges

• High cost

However, high production cost of these material and installation costs of construction composites and recyclability is expected to act as major restraint and obstruct the overall growth of the construction composites market during the forecast period. 

• Availability of low cost substitutes

An extensive variety of low-cost substitutes of composites are available in the market, including aluminium, timber, steel, and plywood for structure reinforcement is expected to the major challenging factor for the growth of the construction composites market.

This construction composites market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the construction composites market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Construction Composites Market

The outbreak of coronavirus had a negative impact on the construction composites market. As a result of this pandemic, the government has imposed stringent regulation throughout the globe which has affected the growth of the construction composites market. The primary users of construction composites, such as aerospace, automotive, and construction, have also shut down their manufacturing facilities which is resulting in a decline in composite demand globally. Due to their regional and category mix and acquisition activity, the separate organizations have showed a variability of tendencies. Also, the majority of raw materials providers in this market had to close down their operations and the major suppliers turned their priority to providing pandemic relief.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Construction Composites Market Scope

The construction composites market is segmented on the basis of fibre type, resin type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Fibre Type

• Glass Fibre
• Natural Fibre
• Others

Resin Type

• Polyester Resin
• Vinyl Ester
• Polyethylene
• Polypropylene
• Others

Application

• Industrial
• Commercial
• Housing
• Civil

Construction Composites Market Regional Analysis/Insights

The construction composites market is analysed and market size insights and trends are provided by country, fibre type, resin type and application as referenced above.

The countries covered in the construction composites market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the construction composites market due to the growing industrialization and urbanization, extensive use of construction composites in civil, industrial and commercial applications in this region.

Europe will continue to project the highest compound annual growth rate due to the huge shelf life of products coupled with low maintenance cost and growing penetration of composites in construction industry in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Construction Composites Market Share Analysis

The construction composites market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to construction composites market.

Some of the major players operating in the construction composites market are:

• ConstructConnect, Inc. (U.S.)
• Bedford Reinforced Plastics (U.S.)
• Exel Composites (Finland)
• Hughes Brothers, Inc. (U.S.)
• Jamco Corporation (Japan)
• Strongwell Corporation (U.S.)
• Trex Company, Inc. (U.S.)
• UPM (Finland)
• DOW (U.S.)
• Halocarbon, LLC (U.S.)
• Freudenberg SE (Germany)
• The Chemours Company (U.S.)
• Metalubgroup (Israel)
• Huntsman International LLC (U.S.)
• Bostik (France)
• H.B. Fuller Company (U.S.)
• Sika AG (Switzerland)
• Cardolite Corporation (U.S.)
• DAIKIN (Japan)
• Kukdo Chemical Co., Ltd., (South Korea)
• Arkema (France)