Construction Repair Composites Market by Fiber Type (Glass Fiber, Carbon Fiber, and Others), Resin Type (Vinyl Easter, Epoxy, and Others), Application (Residential, Commercial, and Industrial): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 360 million mark in 2022 and is expected to hit US$ 746 million by 2030, recording a CAGR of 9.5% during the forecast period.
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Construction repair composites market has been significantly growing with the increasing their use to repair structures
In the construction industry, the composites are increasingly being used to repair structures built with different materials. They are highly used in bridge beams, bridge decks, parking garages and pipelines, underground systems, etc. The growth in the construction repair projects from various countries across the globe is creating the demand for the construction repair composites. The glass fiber segment is expected to pace up with the growing its use in different applications. Further, carbon fiber segment is also expected to gain traction during the forecasted year.
Within the report, the market is segmented into fiber type, resin type, application, and geography. By fiber type, the market is further segmented into glass fiber, carbon fiber, and others. On the basis of resin type, the market is segmented into vinyl easter, epoxy, and others. On the basis of application, the market is segmented into, residential, commercial, and industrial. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Strong market growth in North America region
The strong growth of the construction repair composites market in North America region is mainly attributed to the increasing demand for repair and maintenance projects. In North America, the construction repair composites are highly used in residential, commercial, and industrial application sectors. Moreover, the high presence of several major players in the construction repair composites market is also projected to work in favor of the overall development of the regional market.
Growing demand for construction repair composites from the commercial application sector
The commercial application is one of the major application areas for construction repair composites. The construction repair composites are highly used in the repairs of offices, schools, universities, hospitals, etc. The growing population and increasing need of commercial construction repairs in different countries is boosting the demand for construction repairs composites. Further, rising construction activities due rapidly growing commercial sector across different developing countries is also driving the construction sector's growth. This, in turn, is fuelling the construction repair composites market growth.
Recent strategic developments in construction repair composites market
The construction repair composites market has undergone several significant developments, and a few of these have been mentioned below:
- In 2017, Owens Corning Infrastructure Solutions, part of the Composites business of Owens Corning, completed the acquisition of Aslan FRP, the concrete reinforcement business of Nebraska-based Hughes Brothers, Inc.
- In 2022, ECS launched H-60 fire rated composite repair system that will offer fire protection on pipework and structural components.
The construction repair composites market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Sika AG, Dextra Group, Mapei SpA, Chomarat Group, and Owens Corning are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Construction repair composites related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Applications of construction repair composites
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Fiber Type
- Glass Fiber
- Carbon Fiber
- Others
- Resin Type
- Vinyl Easter
- Epoxy
- Others
- Application
- Residential
- Commercial
- Industrial
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Sika AG
- Dextra Group
- Mapei SpA
- Chomarat Group
- Owens Corning
The List of Companies
- Sika AG
- Dextra Group
- Mapei SpA
- Chomarat Group
- Owens Corning