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Composites Repair And Rehab Market Size Forecast: $2.83 Billion by 2029 | Global Outlook
Composites Repair And Rehab Market
What Is the Projected Market Size Valuation of the Composites Repair And Rehab Market by 2025?
The expansion of the composites repair and rehab market has been robust in the past few years. The market valuation will escalate from $1.91 billion in 2024 to $2.04 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.0%. Factors contributing to growth during the historic period include the aging infrastructure, heightened employment of composite materials, affordable repair solutions, strict regulatory norms, and emphasis on environmental sustainability.
What Is the Estimated Market Growth Value for the Composites Repair And Rehab Industry in 2029?
The market for composites repair and rehabilitation is predicted to witness robust expansion in the coming years, escalating to $2.83 billion in 2029 with a compound annual growth rate (CAGR) of 8.5%. This growth during the projected period is linked to increased use of composite in diverse sectors, enhanced focus on robustness of infrastructure, growing demand for less weighty structures, and the implementation of preemptive maintenance strategies. Key trends anticipated during this period are incorporation of automation and robotics, advancement of eco-friendly solutions for composite repair, expanded application in oil and gas pipelines, employment of composite wraps for strength enhancement, and introduction of training and certification schemes.
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What Are the Growth Drivers and Opportunities in the Composites Repair And Rehab Market?
The composite repair and rehab market is set to surge due to the rapid growth of the automotive sector. The automotive industry encompasses manufacturing and distribution of self-propelled vehicles, including cars, trucks, agrarian equipment, and other commercial transportation. Composite repair and rehab services contribute to reducing vehicle weight, bolstering strength, and offering superior physical traits and mechanical resistance when compared to conventional materials. For instance, a report issued by Marklines, a Japanese advertising firm, revealed that in December 2023, the light vehicle seasonally adjusted annualized sales (SAAR) skyrocketed to 16.08 million units, a noticeable surge from 13.77 million units in December 2022. Furthermore, the total sales for 2023 summed to 15,608,386 units, indicating a 12.3% surge when in contrast with figures from the end of 2022. Therefore, the booming automotive industry propels the composite repair and rehab market's growth.
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What Are the Primary Segments Covered in the Global Composites Repair And Rehab Market Report?
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
Subsegments:
1) By Glass Fiber Composites: E-Glass Fiber Composites, S-Glass Fiber Composites, Hybrid Glass Fiber Composites
2) By Carbon Fiber Composites: Prepreg Carbon Fiber Composites, Thermoset Carbon Fiber Composites, Thermoplastic Carbon Fiber Composites
3) By Other Products: Aramid Fiber Composites, Natural Fiber Composites, Specialty Composites
What Are the Top Growth Trends in the Composites Repair And Rehab Market?
The prime trend gaining traction in the composite repair and rehab market is Product Innovation. Leading firms in this market are developing groundbreaking products to bolster their market presence. A case in point is Engineered Composite Solutions Limited, a company based in Scotland that specializes in the design, development, and provision of composite repair systems. In May 2022, they introduced FutureWrap Bio, a revolutionary repair system composed of 70% plant oil. This product is seen as a trailblazer of its kind, utilizing 70% plant-derived oil for its epoxy structure. This makes it more environmentally friendly compared to other existing composite repair solutions.
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Which Companies Are Shaping the Future of the Composites Repair And Rehab Market?
Major companies operating in the composites repair and rehab market include 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., Henkel AG & Co KGaA
Which Region Holds the Largest Market Share in the Composites Repair And Rehab Industry?
Asia Pacific was the largest region in the composites repair and rehab market in 2024. The regions covered in the composites repair and rehab market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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