San Francisco, Dec 07 The
global construction
composites market is expected to reach USD 7.6 billion by 2025,
according to a new report by Grand View Research, Inc. The market is majorly
driven by the growing construction industry across the globe. Technological
innovations involving construction composites have led to the use of the
product as replacement for aluminum and wood.
The
construction composites industry includes a wide range of products such as
gratings, stairways, decks, railing, and fences with application scope in the
industrial, commercial, and household segments. Technological innovations have
led to the use of the products in the making of various structures that have
complex shapes and are impossible to build with other materials such as wood
and steel.
In
terms of revenue, the industrial application was the largest segment for the
product, accounting for 35.8% of the global industry in 2016. The application
scope in stairways, walkways, trash gates, gratings, and ladders in the
industrial segment is increasing owing to the anti-corrosion and moisture-proof
properties of the products.
Composites
offer superior properties such as durability, in comparison with other
traditional materials. Structures such as decks and rails do not fade away or
crack over time and also do not accumulate rust. These properties of composites
have helped it in gaining popularity in the industrial, commercial, and
household sectors.
Browse full research report on Construction Composites Market:
www.grandviewresearch.com/industry-analysis/construction-composites-market
Further key findings from the report suggest:
- Residential
application segment will experience the highest growth in terms of
revenue, slated to grow at a CAGR of 6.2% from 2017 to 2025, mainly on
account of the growing need for environmental-friendly and durable
products.
- Carbon fiber
emerged as the largest segment among fiber types in 2016, in terms of
revenue, and is estimated to reach a market size of over USD 4.40 billion
by 2025. The segment revenue was recorded at nearly USD 3 billion in 2016.
- The regional
segment in Asia Pacific is anticipated to observe considerable growth
during the forecast years, mainly owing to the robust growth in
construction activities and increasing infrastructure spending, especially
in emerging economies of India and China. In terms of revenue, the
regional market is expected to grow at a CAGR of 6.3% from 2017 to 2025.
- Key players
in the industry focus on acquisitions and capacity expansions to increase
their competitiveness and reinforce their positions in the market.
Browse more reports of this category
by Grand View Research: www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Grand
View Research has segmented the global construction composites market on the
basis of, fiber type, resin type, application, and region:
Fiber
Type Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
- Carbon fiber
- Glass fiber
- Others
Resin
Type Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
- Thermoplastic
- Thermoset
Application
Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
- Industrial
- Commercial
- Residential
- Others
Regional
Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
- North America
- U.S.
- Europe
- UK
- Germany
- Asia Pacific
- China
- India
- Japan
- Central &
South America
- Brazil
- Middle East
& Africa
- South Africa
Browse press release of this report
by Grand View Research: www.grandviewresearch.com/press-release/global-construction-composites-market
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information:
www.grandviewresearch.com
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