Press release
Construction Composites Market 2018 Global players Trex Company, Diversified Structural Composites, Strongwell, Exel Composites
Construction Composites Market
Similar construction projects in the emerging nations are probable to make subsequent influence reinforced materials market for construction by 2025. Additionally, the durability, high strength and lightweight product properties will help in driving the construction composite market in the near future.
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Construction Composites Market size is forecast to exceed USD 65 billion by 2025. Metal composites accounted for more than 25% of the overall market size in 2017. The high tensile strength and the anti-corrosive properties of the product will augment the construction composite market for this segment in the near future. The increasing need of high performance composites to make the exterior building parts anti corrosive and durable will complement industry growth by 2024. Metal composites acts as an excellent substitute for traditional metal decking and flooring in the buildings which will surely amplify the construction composites market size by 2025.
Construction composites market, product by application
o Fiberglass
• Residential
• Commercial
• Industrial
o Composite wood
• Residential
• Commercial
• Industrial
o Metal composites
• Residential
• Commercial
• Industrial
o Others
• Residential
• Commercial
• Industrial
Construction composites market by application
o Residential
o Commercial
o Industrial
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Construction composites market size for commercial applications is projected to rise at a CAGR of more than 4.5% by 2025. Commercial construction includes bridges, tunnels, airports, roads, hospitals, etc. Government has been making substantial investment to improve the infrastructure, which in turn will propel the construction composite market size by 2025. For instance, government of India have announced spending USD 59 billion to modernize its infrastructure in the coming years which will make noteworthy contribution to the overall construction composites market size by 2025.
Middle East & Africa construction composites market size is likely to grow at a CAGR of more than 6% by 2025. Government has been making huge investment to improve the overall infrastructure of the region. For instance, government construction spending in the region accounts for 67% with large scale projects, each of which is worth over USD 1 billion which in turn will drive the construction composites market size in the near future. Countries including the UAE, Qatar, Oman and Egypt will power 6% overall growth in the Middle East in 2017 i.e. up from 5.3% last year. Also, increasing number of public private partnership projects is expected to boost investments in the construction sector in the coming years.
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Construction composites market share is highly competitive with prominent players accounting for a major chunk of the total business size in 2017. The major players include Exel Composites, Bedford Reinforced Plastics, UPM Biocomposites, Advanced Environmental Recycling Technologies, Diversified Structural Composites, Strongwell Corporation, Jamco Corporation, Schoeck International, Fiberon LLC, Trex Company, Hughes Brothers Inc. and Fibrolux GmbH.
The aforementioned players are expanding its volume to fulfill the growing product demand in the world. For example, in January 2017, Fiberon launched 2 new construction composites product brands namely Fiberon Composite Cladding and new Fiberon Relax Decking to expand its product portfolio in the global construction composites market size.
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