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Composites Repair And Rehab Market 2024 Industry Insights, Business Growth, Trends And Forecast To 2033 | Major Players Are Hexcel Corporation, Sherwin-Williams Company, Fibrwrap Contractors S.A., 3M Company, Composite Technology Inc.
Composites Repair And Rehab Market
The Business Research Company offers in-depth market insights through Composites Repair And Rehab Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The composites repair and rehab market size has grown strongly in recent years. It will grow from $1.76 billion in 2023 to $1.92 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to aging infrastructure, increased use of composite materials, cost-effective repair solutions, stringent regulatory standards, environmental sustainability.
The composites repair and rehab market size is expected to see strong growth in the next few years. It will grow to $2.62 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to growing composite application areas, focus on infrastructure resilience, demand for lightweight structures, preventive maintenance practices. Major trends in the forecast period include integration of automation and robotics, development of sustainable composite repair solutions, increasing application in oil and gas pipelines, use of composite wraps for structural reinforcement, training and certification programs.
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Market Segmentation:
The composites repair and rehab market covered in this report is segmented -
1) By Product: Glass Fiber Composites, Carbon Fiber Composite, Other Products
2) By Process: Hand Lay-up, Vacuum Infusion, Autoclave, Other Processes
3) By Application: Civil Infrastructure, Existing And Historic Building, Parking Structure, Other Applications
4) By End-User Industry: Aerospace And Defense, Wind Energy, Automotive,Marine, Construction, Other End-User Industries
Major Driver - Automotive Industry Expansion Fuels Growth In Composite Repair And Rehab Market
The rapid expansion of the automotive industry is expected to propel the growth of the composite repair and rehab market going forward. The automobile industry refers to producing and distributing self-powered vehicles, such as automobiles, trucks, agricultural machinery, and other commercial vehicles. Composites repair and rehab services reduce the weight of vehicles, enhance strength, offer excellent physical characteristics for automobiles, and offer excellent mechanical resistance compared to traditional materials. For instance, according to the Bureau of Transportation Statistics (BTS), a US-based agency that publishes information on transportation systems, new vehicle sales increased to 11,741 (Thousands of vehicles) in 2021 from 11,041 (Thousands of vehicles) sales in 2020. Therefore, the rapid expansion of the automotive industry is driving the composite repair and rehab market.
Competitive Landscape:
Major companies operating in the composites repair and rehab market report are Hexcel Corporation, Sherwin-Williams Company, Fibrwrap Contractors S.A., 3M Company, Composite Technology Inc., Air France KLM S.A., Simpson Strong-Tie Company Inc., Aegion Corporation, Mapei, Gurit Services AG, The IKM Group, Sika AG, CSNRI Composites, WichiTech Industries Inc., The Boeing Company, TD Williamson Inc., Crawford Composites LLC, Hong Kong Aircraft Engineering Company Limited, Citadel Technologies, BASF SE, Team Inc., WR Composites, Milliken Infrastructure Solutions LLC., T.D. Williamson Inc., Henkel AG & Co KGaA.
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Top Trend - Engineered Composite Solutions Launches Futurewrap Bio With 70% Plant-Based Oil
Product Innovation is the key trend gaining popularity in the composite repair and rehab market. Major companies operating in the composite repair and rehab market are creating revolutionary products to improve their market share. For instance, in May 2022, Engineered Composite Solutions Limited, a Scotland-based company that creates, develops, and offers composite repair systems, launched FutureWrap Bio, an innovative and unique repair system produced from 70% plant oil. It is regarded as the pioneering product of its type, made with 70% plant-based oil for its epoxy structure, making it more ecologically sustainable than existing composite repair solutions.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Composites Repair And Rehab Market Characteristics
3. Composites Repair And Rehab Market Trends And Strategies
4. Composites Repair And Rehab Market - Macro Economic Scenario
5. Composites Repair And Rehab Market Size And Growth
…..
27. Composites Repair And Rehab Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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