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Carbon Textile Reinforced Concrete Market size is anticipated to increase significantly between 2023 and 2032, driven by the growing material use in the building and construction sector.
The requirement for new urban infrastructure and rising disposable incomes in both emerging and developed countries should elevate material demand. According to the Global Construction 2030 prediction, the construction output is predicted to increase by 85% by 2030 across major nations, namely India, the US, and China.
Carbon fiber reinforced concrete is a strong, lightweight, and environmentally friendly composite material with negligible thermal expansion. It is an ideal substitute for steel reinforcing bars in the construction sector and is available in a variety of configurations and shapes. The demand for the material will also be driven by the growing interest in green building infrastructure. It possesses high cost-effectiveness characteristics which reduce energy consumption, enhance resource protection, and reduce carbon emissions.
Several construction companies are attempting to develop unique green construction project to prevent environmental degradation. For instance, in 2020, HDFC and the Indian Green Building Council (IGBC) signed an MoU to encourage green construction in India. The move aims at raising awareness and offering financial support for green buildings across the country.
Depending on the type, the large-tow carbon textile reinforced concrete market is anticipated to record significant growth in the next few years owing to increasing demand for these materials across various industrial applications. Shift to clean energy generation will accelerate the deployment of wind energy blades which will push the demand for large-tow carbon textile reinforced concrete. To meet such demand many companies in this sector are expanding their production capacity.
Growing construction of bridges across both developed and developing economies would drive the demand for carbon textile reinforced concrete. The material is considered a convenient product as it reduces the construction period and is used to strengthen girder bridges. Also, it helps improves the bearing capacity of the slab, which evidently ensures improved safety for drivers. Apart from bridges, the material is also used in the construction of buildings. Companies are conducting new R&D activities to drive product application in the sector.
Asia Pacific carbon textile reinforced concrete market is expected to expand at a decent pace through 2032, mostly due to the growing construction sector across the region. Ongoing initiatives regarding the refurbishment and renovation of aging infrastructures would fuel the demand for carbon textile-reinforced concrete across countries like India, China and Japan.
Some of the top companies present in the global carbon textile reinforced concrete market include Solidian GmbH, CarboCon GmbH, Tradecc, Raina Industries Pvt Ltd, ADCOS NV, Hering Architectural Concrete. These firms are introducing unique solutions and are engaging in partnerships, acquisitions, and mergers in an effort to take a commanding position in the market