Construction Composite Market Trends and Forecast
The future of the global construction composite market looks promising with opportunities in the industrial, commercial, and residential markets. The global construction composite market is expected to reach an estimated $30.1 billion by 2030 with a CAGR of 5.7% from 2024 to 2030. The major drivers for this market are increasing awareness of environmental issues and regulations promoting sustainable construction practices, continuous advancements in composite manufacturing processes, as well as, growing investments in infrastructure projects globally and need for repair and retrofitting of aging infrastructure.
• Lucintel forecasts that carbon fiber is expected to witness higher growth over the forecast period.
• Within this market, industrial is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Construction Composite Market
• United States: Several construction firms have announced partnerships with tech companies to integrate advanced composite materials in infrastructure projects, supported by federal grants aimed at enhancing material efficiency.
• China: Key composite manufacturers have unveiled plans to increase production capacity by 20% over the next year, aligning with national targets to promote sustainable building practices through composite adoption.
• Germany: Government subsidies for research into eco-friendly composites have spurred collaborations between universities and industry leaders, aiming to develop lightweight materials that reduce carbon emissions in construction.
• India: Local construction companies are focusing on incorporating composite solutions in affordable housing projects, following government directives to improve durability and reduce maintenance costs in urban infrastructure.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Construction Composite Market by Segment
The study includes a forecast for the global construction composite market by type, application, and region.
Construction Composite Market by Type [Value from 2018 to 2030]:
• Carbon Fiber
• Glass Fiber
• Others
Construction Composite Market by Application [Value from 2018 to 2030]:
• Industrial
• Commercial
• Residential
• Others
Construction Composite Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Construction Composite Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies construction composite companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the construction composite companies profiled in this report include-
• Exel Composites
• Trex Company
• UPM Biocomposites
• Bedford Reinforced Plastics
• AERT
• CRH
• Diversified Structural Composites
Recent Development in the Construction Composite Market
• JSW Steel: JSW Steel is investing in a new facility to produce high-performance composites for construction applications, targeting the growing demand for lightweight and sustainable building materials.
• Mitsubishi Chemical Holdings Corporation: Mitsubishi Chemical is expanding its product portfolio of carbon fiber-reinforced composites for infrastructure projects, focusing on improved durability and seismic resistance.
• Saint-Gobain: Saint-Gobain is collaborating with a leading architectural firm to develop prefabricated building components made from composite materials, aiming to streamline the construction process and reduce waste.
• Weyerhaeuser Company: Weyerhaeuser is focusing on developing bio-based composite materials for construction, catering to the increasing demand for eco-friendly building solutions.
• BASF SE: BASF is investing in research and development to improve the fire resistance properties of composite materials for use in high-rise buildings.
Features of the Global Construction Composite Market
Market Size Estimates: Construction composite market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Construction composite market size by type, application, and region in terms of value ($B).
Regional Analysis: Construction composite market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the construction composite market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the construction composite market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the construction composite market size?
Answer: The global construction composite market is expected to reach an estimated $30.1 billion by 2030.
Q2. What is the growth forecast for construction composite market?
Answer: The global construction composite market is expected to grow with a CAGR of 5.7% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the construction composite market?
Answer: The major drivers for this market are increasing awareness of environmental issues and regulations promoting sustainable construction practices, continuous advancements in composite manufacturing processes, as well as, growing investments in infrastructure projects globally and need for repair and retrofitting of aging infrastructure.
Q4. What are the major segments for construction composite market?
Answer: The future of the global construction composite market looks promising with opportunities in the industrial, commercial, and residential markets.
Q5. Who are the key construction composite market companies?
Answer: Some of the key construction composite companies are as follows:
• Exel Composites
• Trex Company
• UPM Biocomposites
• Bedford Reinforced Plastics
• AERT
• CRH
• Diversified Structural Composites
Q6. Which construction composite market segment will be the largest in future?
Answer: Lucintel forecasts that carbon fiber is expected to witness higher growth over the forecast period.
Q7. In construction composite market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the construction composite market by type (carbon fiber, glass fiber, and others), application (industrial, commercial, residential, and others), 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 region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the 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 key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Construction Composite Market, Construction Composite Market Size, Construction Composite Market Growth, Construction Composite Market Analysis, Construction Composite Market Report, Construction Composite Market Share, Construction Composite Market Trends, Construction Composite Market Forecast, Construction Composite Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.