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Construction Composites Market to reach $72.5 billion by 2028

  • Published Date: March 11, 2022

According to a new research report by Global Market Insights Inc., the Construction Composites Market size to reach USD 72.5 billion by 2028.

Benefits associated with construction composites will propel the industry growth. A combination of lightweight and high strength makes composites a very suitable construction material. Owing to this, construction composites possess high-specific strength, thus signifying that each unit of the composites is capable of handling stress. As less material can be employed without sacrificing structural stability, it results in low construction costs.

Construction composites are corrosion-resistant compared to other metal alloys, making them suitable for corrosive environments such as saltwater, piping, and ductwork. Moreover, construction composites do not swell like wood or spall such as bricks & concrete. Similarly, these composites have low thermal conductivity, thus do not expand or contract with changes in the temperature. Hence, the benefits associated with construction composites will bolster the construction composites market growth during the forecast period.

Issues related to the recycling of construction composites may create adversity in the industry growth during the forecast period. Construction composites are hard to recycle into their original components such as fibers, resin, fillers, and other core materials. To separate these components, the decomposition of cross-linked resins is essential as they cannot be melted. The decomposition can be achieved with burning or dissolving in chemical substances, which will depolymerize the polymer.

The burning method to regain the fibers is only a partial recycling method as it does not recycle the resin or other core materials. Furthermore, the fibers that are regained hold minimal value, the glass fiber obtained experiences a huge loss in fiber strength, and the after-burning materials are not suitable for any use. These drawbacks may slow down the construction composites industry growth.

Browse key industry insights spread across 250 pages with 296 market data tables & 26 figures & charts from the report, “Construction Composites Market Size, By Product (Fiberglass, Composite Wood, Metal Composites, Others), By Application (Residential, Commercial, Industrial), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028”, in detail along with the table of contents:

Composite wood segment’s growth will be attributable to its ease in designing

The composite wood segment is expected to cross USD 225 million by 2028. Composite wood is mainly used as a replacement to steel in joists and beams in construction projects. It finds applications in outdoor deck flowing, railings, cladding, and landscaping work. As composite wood is man-made it can be customized and designed as per specific qualities and performance requirements. It can be made into different grades, sizes & thicknesses and provides benefits such as the natural strength characteristic of wood. It can be used in diversified ways for industrial and small home projects.

The industrial segment will grow at a CAGR of over 4.5% through 2028. The working stress of several composites is higher than the traditional materials used. Owing to the excellent mechanical strength of such composites, the distance between columns can be increased, which is an essential requirement in industries and factories. The freedom to design, offered by composites, favors easier building adaptation to any industrial process. Furthermore, facades and roofs made from construction composites have better acceptance to acoustic & thermal insulators, which is a crucial requirement in industries.

Key players in the construction composites industry include Bedford Reinforced Plastics Inc., Advanced Environmental Recycling Technologies Inc., Teijin Limited, Exel Composites Oyj, Jamco Corporation, Schöck Bauteile GmbH, Strongwell Corporation, Trex Company Inc., UPM Biocomposites, Hughes Brothers Inc., Fiberon LLC, and Fibrolux GmbH.

Authors: Kiran Pulidindi, Akshay Prakash