Construction Repair Composite: Market Size. From $300. 92 million in 2020, the global Construction Repair Composite market is projected to reach $745. 07 million by 2028. Based on our analysis the market is expected to grow at a CAGR of 12.
New York, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Construction Repair Composite Market Analysis & Trends - Industry Forecast to 2028" - https://www.reportlinker.com/p06127656/?utm_source=GNW
0% from 2020 - 2028 timeframe.
Some of the prominent trends that the market is witnessing include, rapid growth of construction sector, growing demand from emerging markets, and rising urbanization.
Global Construction Repair Composite Market: Market Dynamics
Construction repair composites find wide applications in the repairs, including schools, universities, and hospitals. The increasing usage of construction composites can be attributed to its various benefits. Growing population and need of commercial construction repairs in developing countries 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.
On the other hand, higher cost of construction repair composites is a major restrain for the market. In addition, development of low-cost carbon, glass and basalt fibers can reduce the cost of construction composites which could provide huge opportunities for the market. The reduction in the cost of fibers would reduce the cost of fiber composites, thereby directly reducing the cost of manufacturing construction composite products used, which then the companies can offer at lower and more affordable prices to the consumers.
Impact of COVID-19 on Construction Repair Composite
The construction repair composites market is has witnessed a decline recently owing to the COVID-19 pandemic. The manufacturing facilities had to shut down their operations. This has led to a decrease in the demand of construction repair composites across various applications. Companies need to cope with this sudden impact brought by the pandemic and have to efficiently work on their supply chain and improve their distribution network to capture the demand for construction repair composites materials in the near future and tackle the sudden fluctuations in the market.
By Fiber Type
Carbon Fiber Segment Dominate the Market in 2020
Carbon fiber type is the dominating segment during the forecast period. The carbon fiber composites find a variety of uses in various industries. The increasing demand from these applications is expected to drive the carbon fiber construction repair composites market during the forecast period.
Europe Region is Leading in the Global Market Place
Europe accounts for a considerable share of the global construction repair composites market. The infrastructural development in the region is contributing to the market growth. The rising income of people is also a driving factor for the regional market growth. The commercial, bridge, and water structure are the major consumers of construction repair composites in the region.
List of the Key Players Profiled in the Market Include:
• Owens Corning
• Dextra Group
• Simpson Strong-Tie Company Inc
• Master Builders Solutions
• Chomarat Group
• Mapei SpA
• Antop Global Technology Co. Ltd
• Sireg Geotech S.r.l.
• Steklonit Jsc
• Technobasalt–Invest, LLC
List of the Regions/Countries Profiled in the Market Include:
• Rest of Europe
• New Zealand
• Rest of Asia Pacific
• Saudi Arabia
• Rest of Middle East
• Rest of Latin America
Rest of the World (RoW)
• South Africa
Read the full report: https://www.reportlinker.com/p06127656/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001