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Construction Composites Market 2018-2024 | key players Bedford Reinforced Plastics, Advanced Environmental Recycling Technologies, Inc., Diversified Structural Composites, Exel Composites Oyj
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Likewise, Chile is going to be a home of new 98MW power plant i.e. is expected to generate 70% of the country's electric power from renewable sources. Also, various other ongoing construction activities in South American countries is going to up surge the construction composites Market by 2025.
Construction Composites Market is forecast to exceed USD 65 billion; according to a new research report. Extensive construction activities due to the increasing per capita income and the improving living standards are boosting the construction expenditure in the developing nations, which has been subsequently driving the construction composite market in the recent years. For instance, in China the expansion project of Beijing airport that is expected to be completed by 2025 will surely surpass Dubai's Al Maktoum Airport in total square miles, cost, and plane & passenger capacity.
Similarly, in India Versova-Bandra sea link project has been approved. The bridge will be located about 900-1,800m from the coast of Mumbai, the stretch is approximately 17.7km, linking Versova and Bandra. Several other ongoing and future construction projects would increase the product demand directly propelling the construction composite market by 2025.
Stringent government regulations restricting the composite applications and high price of the product may prove to be a barrier in the advancement of the reinforced material market. Also, deficit of product knowledge may turn out to be an obstacle for the construction composite market. Nevertheless, growing construction operations and the lightweight and high tensile strength properties would strongly enhance the reinforced material market in the near future.
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Reinforced material Market for residential construction applications is expected to rise with a CAGR over 5% in the forecast period. Residential buildings involve houses, apartments, housing societies etc. For example, Gammon Construction, a joint venture between Balfour Beatty and Jardine Matheson, has secured a contract worth around USD 430 million to build a large scale residential development in Hong Kong. Likewise, numerous other residential construction activities are on the play that is driving the construction composite market in the near future.
Construction composites market share is distributed among few market players. These players include UPM Biocomposites, Bedford Reinforced Plastics, Exel Composites, Diversified Structural Composites, Strongwell Corporation, Advanced Environmental Recycling Technologies, Fiberon LLC, Trex Company, Schoeck International, Hughes Brothers Inc. Fibrolux GmbH and Jamco Corporation.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Bedford Reinforced Plastics
2. Advanced Environmental Recycling Technologies, Inc.
3. Diversified Structural Composites
4. Exel Composites Oyj
5. Jamco Corporation
6. Schoeck International
7. Strongwell Corporation
8. Trex Company, Inc.
9. UPM Biocomposites
10. Hughes Brothers, Inc.
11. Fiberon LLC
12. Fibrolux GmbH
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