The report “Construction Composites Market by Fiber Type (Carbon, and Natural Fiber), Resin Type (Polyester, Vinyl Ester, Polyethylene and Polypropylene), Application (Industrial, Commercial, Housing and Civil) – Global Forecast to 2021″, The construction composites market is projected to reach USD 6.65 Billion by 2021, growing at a CAGR of 5.80%, from 2016 to 2021.
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The construction composites market is driven by the increasing penetration of composites in the construction industry and the long life and low maintenance cost of composites. Also, rapid urbanization and the economic boom in emerging countries and the development of innovative products is driving the construction composites market globally.
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Glass fiber comprises a major share in the construction composites market in terms of value
Glass fiber is the leading type of fiber used for various construction composite applications, such as industrial, commercial, housing, and civil. This is due to the lower cost and superior properties such as strength, flexibility, durability, stability, light weight, as well as resistance to heat, temperature, and moisture. The manufacture of glass fiber based construction composites is less complex and lower in cost, which is contributing to the leading position of glass fiber construction composites.
Industrial is the largest application market of construction composites in terms of volume
Construction composites generally use glass fiber reinforced polymers and offer complete solutions against highly corrosive fluids and harsh environmental conditions at various temperatures, pressures, adverse weather, and soil conditions. Construction composites are used, as they provide design flexibility, resistance to thermal expansion and other such features, making them useful to design complex components for industrial applications. As components made of traditional materials such as metallic alloys corrode quickly, the use of construction composites in industrial applications is gradually becoming the choice of professionals.
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North America accounts for a major market share of the construction composites market
North America accounts for the largest market share of construction composites, globally, due to the high demand for light weight and non-corrosive materials requiring minimal maintenance in industrial, commercial, housing and civil applications. The U.S. is the single largest consumer of construction composites in various applications due to the high penetration of composites in industrial and civil applications.
Some of the key global players prevailing in the construction composites 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 UPM Biocomposites (Finland) and others. These players have adopted various organic and inorganic developmental strategies during the past five years.
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