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| A06903 | Pages: NA | Dec 2021 | 490 Views | | |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Construction Composites Market
Request Now !Composite is a material that is composed of two or more constituent materials with substantially different chemical or physical characteristics, which are blended to construct a composite that exhibits distinct characteristics from the individual components. Construction composites such as wood composites, metal composites, and fiberglass are majorly applicable in the construction of commercial, industrial, and residential industries. Construction composites use glass fiber-bonded polymers that provide effective assistance at varying environmental conditions against extremely corrosive materials, extreme weather, pressure, and temperatures. Composites possess properties such as lightweight, stability in design, resistance to degradation, and toughness, which make suitable for use in the construction industry.
Market scope and structure analysis
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast unit | Value (USD) |
Segments covered | Fiber Type, Resin, Application, and Region |
Regions covered | North America (U.S., Mexico, and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and the Rest of LAMEA) |
Companies covered | Bedford Reinforced Plastics, Advanced Environmental Recycling Technologies, Inc., Diversified Structural Composites, UPM Biocomposites, Exel Composites Oyj, Jamco Corporation, Strongwell Corporation, Trex Company, Inc., Schoeck International, and Fiberon LLC |
The development of the construction industry along with increase in demand for eco-friendly and low-maintenance goods is anticipated to augment the demand for construction composites during the projected timeline. Furthermore, long service life and low maintenance costs fuels the demand for construction composites in the construction industry. In addition, change in lifestyle owing to increase in per capita income in emerging regions significantly contributes toward the development of innovative buildings and high-end buildings integrated with modern technologies, requiring specific composites to make the building durable and functional in all situations. Thus, all these factors collectively drive the growth of the global construction composites market.
Increase in application of construction composites in fencing, stairways, gratings, railings, and floors for the industrial, residential, and household industries notably contributes toward the growth of the global market. In addition, the growth of the industry is driven by rise in construction activities and investments in infrastructure development in emerging nations. Technological developments have resulted in increased use of the commodity, especially as a substitute for conventional products such as aluminum and wood, which, in turn, is anticipated to create remunerative opportunities for the expansion of the global market during the forecast period. However, owing to the complex manufacturing cycle and high composite price can become a barrier to reinforced building materials industry. In addition, lack of knowledge on adding value to product characteristics such as longevity, increased workability, and time reduction is expected to impede the growth of the construction composites market.
The global construction composite market is expecting a slowdown, owing to the outbreak of COVID-19 pandemic. Governments of various countries have implemented lockdown, which has led to shutdown of factories in scores of cities and provinces across the world, thus leading to predictions of a sharp slowdown in the output from the industrial sector to residential sector. This pandemic situation is likely to slow down the world’s economic development. With the slowdown in the economic growth, the construction composite industry is anticipated to witness negative impacts.
Key segments covered
Segment | Subsegment |
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