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Construction Composites Market for commercial applications is slated to grow with a 5% CAGR by 2025

Author : Rahul Varpe | Published Date : 2019-09-18 

Composite products used in construction are designed to survive in environments where exposure to heat and corrosive material is high. They can handle pressure and are used to make infrastructure components like stairways, ladders and gratings in manufacturing plants. Owing to the favorable characteristics of composites, the commercial and industrial segments apportion higher revenue to construction composites market. Indeed, the commercial domain was the largest revenue-generating segment in 2017, driven by the escalating demand for low-maintenance and durable products in numerous construction projects. According to estimates, construction composites market share from commercial applications is slated to grow with a 5% CAGR over 2017-2025.

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Despite excellent projected growth prospects, the market is touted to be the recipient of myriad constraints, primary among them being, high initial costs for set-up and raw material procurement. The escalating prices of composites are essentially due the complicated manufacturing process and the strict norms put forth by government bodies. That apart, the revenue graph of construction composites market also suffers on account of the stiff competition from low cost and traditional substitutes like steel, concrete and timber.

However, pivotal contenders across this vertical have been striving to eradicate these constraints via myriad growth strategies. Leading companies such as Bedford Reinforced Plastics and Advanced Environmental Recycling Technologies, Inc., are consistently on the go to expand their product portfolio, which in consequence would impact the commercialization potential of overall construction composites market in the years to come.

Construction composites market by application:

  • Residential
  • Commercial
  • Industrial

Important pointers encompassed pertaining to the application spectrum:

  • The study is inclusive of significant data pertaining to the application spectrum.
  • The report encompasses the revenue forecast details of the application segments categories by the end of the anticipate duration.
  • The market share which each of the application segments account for are mentioned in the study.
  • Also, the most proliferating trends that the application spectrum is characterized by are also entailed.

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A 45-billion dollar-fraternity in terms of renumeration, construction composites market stands as one of the most high-potential verticals of the advanced materials domain. These composites endorsed with properties such as light weight, durability, design flexibility, and strength have gained a massive prominence over their traditional counterparts. With the construction domain expanding at a phenomenal rate, the growth prospects for the construction composites market are indeed humongous. Add to it, tremendous increase in disposable incomes and construction of technologically advanced buildings that are embedded with cutting-edge features will further add a significant momentum to this fraternity.

Construction composites market share is distributed among few market players. These players include:

  • UPM Biocomposites
  • Bedford Reinforced Plastics
  • Exel Composites
  • Diversified Structural Composites
  • Strongwell Corporation
  • Advanced Environmental Recycling Technologies
  • Fiberon LLC
  • Trex Company
  • Schoeck International
  • Hughes Brothers Inc.
  • Fibrolux GmbH
  • Jamco Corporation

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Residential applications are also known to form an integral part of the application landscape of construction composites market. In fact, this segment is predicted to depict an appreciable growth rate on account of the rising number of residential projects being undertaken by governments of developing countries. The significant uses of composites in house construction including insulation, construction of entire frames that are termite resistant and reinforced fiberglass roofs that do not require maintenance for decades with room for aesthetic flexibility are expected to push construction composites market trends in the residential sector. 

Related News: https://www.marketwatch.com/press-release/industrial-fall-protection-equipment-market-future-trend-to-2024-construction-sector-is-projected-to-hit-900-million-revenue-2019-09-18

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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