Construction Composites Market Comprehensive Study 2018: Trex Company, Diversified Structural Composites, Exel Composites, Strongwell
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Construction Composites Market size is forecast to exceed USD 65 billion by 2025. Growing construction activities in the emerging countries due to massive government investments to improve public infrastructure will boost the construction composites market size by 2025. For instance, in India USD 2.4 billion project is currently in progress to build the Navi Mumbai International Airport that started in March 2015 and is expected to be completed till 2019. Similarly, UAE has been making considerable investment in constructing ports which was valued approximately USD 24 billion for the Khalifa Port.
Construction composites market, product by application
o Composite wood
o Metal composites
Construction composites market by application
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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 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.
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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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