Global Building and Construction Composites Market Overview:
Composites are made from two or more materials, each with distinct properties; when they are combined, produce a material that has superior qualities in comparison with original materials. High-performance composites have huge demand in market due to growing requirement of high-performance and technologically advanced construction works. These composites are widely used in industrial, commercial, and residential construction projects. Due to long durability, high tensile strength, and extreme lightness, fibreglass is quickly becoming the most popular and expanding composite of all. Utilizing these high-performance composites lengthens a building's lifespan. Huge demand and expanding construction activities in emerging nations are mostly caused by increasing governments’ investment to accelerate infrastructural expansions. North America is estimated to be the fastest-growing market for building & construction composites. The factors that are fuelling this growth include rising urbanisation and industrialization, as well as extended lifespans and little maintenance needed.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Building and Construction Composites Market Dynamics:
Attributes | Details |
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Growth Drivers | - Usage of Composites in Building & Construction Applications Are Augmented
- Long Lifecycle and Inexpensive Maintenance Cost
- Rapid Urbanization and Economic Growth in Emerging Economies
- Development of Innovative Products/materials
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Restraints | - Huge investment required for Production and Installation of Composites
- Recyclability Issues
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Road Blocks / Challenges | - Availability of low-cost substitutes
- Requirement of Huge investments for R&D
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Gaps & Opportunities | - Escalated demand for composites in civil applications in North America
- Increasing demand for pultruded profiles
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Competitive Landscape:
Building and construction composites is a fragmented market due to the presence of numerous players. The players are focusing on investing more in development and R&D. These will aid them to enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are Strongwell Corporation (United States), Exel Composites (Finland), Trex Company, Inc. (United States), UPM Biocomposites (Finland), Bedford Reinforced Plastics (United States), Advanced Environmental Recycling Technologies, Inc. (AERT) (United States), Hughes Brothers, Inc. (United States), Diversified Structural Composites (Finland), Schöck Bauteile GmbH (Germany) and Jiangsu Jiuding New Material Co., Ltd. (China). Additionally, following companies can also be profiled that are part of our coverage like Faigle Kunstsoffe GmbH (Austria), Fibergrate Composite Structure, Inc. (United States), Fiberon LLC (United States), Pultron Composites (New Zealand), Fibrolux GmbH (Germany), Sireg S.P.A. (Italy), Tamko Building Products, Inc. (United States) and AZEK Building Products (United States). Considering Market by Reinforcement Type, the sub-segment i.e. Glass fiber will boost the Building and Construction Composites market. Considering Market by Resin Type, the sub-segment i.e. Polypropylene will boost the Building and Construction Composites market.
Latest Market Insights:
In August 2019, Shenzhen Zhengwei (Group) Co., Ltd. acquired 19.5% stake in Jiangsu Jiuding New Material Co., Ltd. from Gu Qingbo for USD 170 million. and In July 2021, Jiangsu Jiuding New Material Co., Ltd. and Shenzhen Zhengwei Financial Holdings Co., Ltd. signed an equity acquisition intent agreement to acquire 51% stake in Tongchuan Jiufang Xunda Microwave System Co., Ltd. and Sinotekco Microwave System Co., Ltd. from Arralis Technology Company Limited.
In October 2021, Kineco Group, India’s leading player in the Advanced Composites market announced that it had signed an agreement to establish a joint venture to develop the Indian pultrusion market together with Exel Composites Oyj, a Nasdaq Helsinki listed, and globally recognized composites company. and In March 2020, UPM has developed a new world-class bio-composite material which meets the highest sustainability requirements. The new material, called UPM Formi EcoAce, contains certified wood and cellulose fibers, as well as certified renewable PP polymers from SABIC’s TRUCIRCLE solutions that are made using wood-based feedstock from UPM Biofuels production.
What Can be Explored with the Building and Construction Composites Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Building and Construction Composites Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Building and Construction Composites
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Building and Construction Composites market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Building and Construction Composites market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Construction composites Manufacturers, Construction composites Traders, Distributors, and Suppliers, Raw Material Suppliers, Governments and Research Organizations, Associations and Industrial Bodies and R&D Institutions.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.