Global Construction Repair Composites Market (2021 to 2026) - Development of Low-cost Carbon, Glass and Basalt Fibers Can Reduce Cost of Construction Composites Presenting Opportunities - ResearchAndMarkets.com

The "Global Construction Repair Composites Market by Fiber Type (Glass, Carbon), Resin Type, Product Type (Fabric, Plate, Rebar, Mesh, Adhesive), Application (Bridge, Water Structure, Industrial Structure, Commercial), and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global construction repair composites market is projected to grow from USD 331 million in 2021 to USD 533 million by 2026, at a CAGR of 10% between 2021 and 2026.

Carbon Fiber Type is the fastest-growing Fiber Type of construction repair composites, in terms of value

The carbon fiber composites find wide uses in various end-use applications. Some of the major applications includes bridge, commercial, residential, water structure, industrial structure, silo flue pipe, oil & natural gas pipeline, and others. The increasing demand from these applications is expected to drive the carbon fiber construction repair composites market during the forecasted period.

Epoxy resin construction repair composites are the fastest-growing resin type of construction repair composites, in terms of value

The construction repair composites products are mainly used in various applications such as bridge, water structure, silo flue pipes, and many more. Epoxy resin composites are sometimes more preferred in construction repair applications because of their low shrinkage and higher strength. Epoxies are mainly used with high-performance composites, which have superior mechanical properties and high resistance to chemicals, heat, or corrosion. Epoxies are paired up more with carbon fiber construction composites. The increasing demand for construction repair composites from silo flue pipe, commercial, residential, and industrial structure is expected to drive the market during the forecast period.

Rebar is the fastest-growing Product Type of construction repair composites, in terms of value

The rebar is fastest growing product type in construction repair composites market. Rebar is light fiber reinforced polymer, which possesses extensively high strength. The rebars are transparent to magnetic field as well as to radio frequencies, thermally, and electrically non-conductive, and impervious to chemical attack, and hence are used as an alternative to the steel reinforcements in the construction industry. Rebars are typically used in the repairing of bridges, highways, commercials, industrial structures and other application.

Commercial is the fastest-growing application of construction repair composites, in terms of value

In the commercial application, construction repair composites are used in commercial construction repairs, including offices, schools, universities, and hospitals. The structural engineering from these non-residential construction projects uses construction composites due to its potential benefits along with the cost-effectiveness used to repair critical components of wind turbines. Growing population, and need of commercial construction repairs in APAC countries such as China and India are expected to boost the demand for construction repairs during the forecast period. This is expected to drive the construction repair composites market in this application. The recovery in construction repair industry post Covid-19 era is expected to drive the construction repair composites market.

APAC is the fastest-growing construction repair composites market

APAC is projected to register the highest CAGR in terms of value in the global construction repair composites market during the forecast period. The growth of the construction repair composites industry in this region is supported by the recovery in end-use applications, the advancement of industrial technology solutions, and increasing need of construction repair processes for various structures.

Due to COVID-19, construction industry and numerous companies have halted their production sites across various countries that has led to reduced demand for construction composites, which affected the construction repair composites demand in APAC countries. The recovery in the end-use applications with restoration in the supply chain would drive the construction repair composites demand during the forecast period.

Market Dynamics

Drivers

• Growing Demand for Construction Composites due to Its Advantages Over Traditional Substitutes
• High Growth of Construction Sector
• Increasing Usage of Construction Composites in Residential and Commercial Sector

Restraints

• Lack of Experienced Professionals Related to Construction Composite Products in Emerging Markets
• Higher Costs Compared to Traditional Substitutes
• Lower Demand due to Global Health Crisis

Opportunities

• Development of Low-Cost Carbon, Glass, and Basalt Fibers Can Reduce Cost of Construction Composites
• Growing Demand from Emerging Markets

Challenges

• Availability of Low-Cost Substitutes and Lower Adoption and Acceptance of Construction Composites
• Maintaining an Uninterrupted Supply Chain due to COVID-19

Companies Mentioned

• AB-Schomburg Yapi Kimyasallari
• Antop Global Technology Co. Ltd.
• Armatsek
• Chomarat Group
• Composite Group Chelyabinsk
• Dextra Group
• Dowaksa
• Firep Group
• Fosroc
• Fyfe
• Galen LLC
• Mapei S.p.A.
• Master Builders Solutions
• Owens Corning
• Pultrall Inc.
• Pultron Composites
• Rhino Carbon Fiber Reinforcement Products
• Schock Bauteile GmbH
• Sika
• Simpson Strong-Tie Company Inc.
• Sireg Geotech S.R.L.
• Steklonit JSC
• Strongwell
• Technobasalt-Invest, LLC
• Zhongao Carbon

For more information about this report visit https://www.researchandmarkets.com/r/qjvf9

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