Opportunities in the global composites repair and rehab market for the construction industry to reach $190 million by 2024

According to a new market report published by Lucintel, the future in the global composites repair and rehab market for the construction industry is promising with opportunities in the civil infrastructure, existing and historic buildings, parking structures and others. The global composites repair and rehab market for the construction industry is expected to reach an estimated $190 million by 2024 with a CAGR of 4.7% from 2019 to 2024. The major driver for this market is with the increase in seismic activities in North America and Japan regions resulting in major structural damages like old and obsolete buildings, bridges, highways, tunnels, parking structure etc.

In this market, carbon fiber composite, glass fiber composites and others are the major fibers utilize to manufacture composites system for repair and rehab for construction. On the basis of comprehensive research, Lucintel forecasts that the carbon fiber composites is expected to remain the largest fiber type by value and volume due to low cost, high resistance properties and chemical stability.

Within this market, civil infrastructure is expected to remain the largest application by value and volume due to high performance of FRP materials than conventional concrete and steel repair material in bridges, highways and tunnels resulting in increase in service life, reduction in maintenance costs, faster construction and can allow increased vehicular load on equivalent sized structures because of weight reduction. Lucintel predicts that the demand for repair and rehab of existing and historic buildings is likely to experience the high growth in the forecast period due to increase in natural calamities which drives seismic retrofitting, while the retrofitting for durability increases significantly due to rising cases of falling concrete pieces from existing structures which threaten human and traffic safety.

In this market civil and residential end use is the major end use industry. On the basis of comprehensive research, Lucintel forecasts as the civil end use is expected to be largest segment by value. Increasing infrastructure repair and rehab after seismic activities and use of FRP material to increase the life expectancy of structures during repair and retrofitting drives the market.

North America is expected to remain the largest region by value and volume and is also expected to experience the highest growth over the forecast period due to growth in infrastructural repair and rehab, especially in California which is the most affected state of natural calamities. According to Seismic Advisory Board of California, there are approximately 24000 bridges which are under the risk of collapse in the coming couple of years.

Emerging trend, which have a direct impact on the dynamics of the industry, include increasing bio & recycled content in repair and rehab of civil infrastructures. Aegion, Sika, Mapei, Simpson, Structural Technologies, Quakewrap are among the major system manufacturers for the global composites repair and rehab market for the construction industry.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities of global composites repair and rehab market for construction by application, fiber type, end use and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Composites Repair and Rehab Market for the Construction Industry 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global composites repair and rehab market for construction by application, fiber type, end use and region as follows:

By Application (Volume (Million lbs) and $M shipment analysis for 2013 – 2024):
• Civil infrastructure
• Existing and Historic Building
• Parking Structure
• Others

By Fiber Type (Volume (Million lbs) and $M shipment analysis for 2013 – 2024):
• Carbon Fiber Composite
• Glass Fiber Composites and Others

By End use (Volume (Million lbs) and $M shipment analysis for 2013 – 2024):
• Civil
• Residential

By Region (Volume (Million lbs) and $M shipment analysis for 2013 – 2024):
• North America
• Europe
• Asia Pacific
• The Rest of the World
This 215 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include advanced materials reports, composite materials market report, strategic growth consulting, market research due diligence and business strategy consulting.

This report answers following 11 key questions:

Q.1 What are some of the most promising potential, high-growth opportunities for composites in the global composites repair and rehab market for the construction industry by application (civil infrastructure, existing and historic buildings, parking structures and others), fiber type (carbon fiber composite, glass fiber composites and others), end use(civil, residential) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are emerging trends in this market and the reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?

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Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. We offer market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

This release was published on openPR.