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2019 – 2024 | Construction Composites Market Study by Growth Analysis and Regional Demand

Author : Rahul Varpe | Published Date : 2019-10-03 

The Global Construction Composites Market 2024 Research Report is a professional and in-depth study on the current state of the Construction Composites. Development policies and plans are discussed as well as manufacturing processes and cost structures. This report also states import/export, supply and   figures as well as cost, price, revenue and gross margin by regions North America, Europe, Asia-Pacific, Middle East and Africa and other regions can be added.

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Stringent government regulations restricting the composite applications and high price of the product may prove to be a barrier in the advancement of the reinforced material market. Also, deficit of product knowledge may turn out to be an obstacle for the construction composites market. Nevertheless, growing construction operations and the lightweight and high tensile strength properties would strongly enhance the reinforced material market soon.

Chile is going to be a home of new 98MW power plant i.e. is expected to generate 70% of the country's electric power from renewable sources. Also, various other ongoing construction activities in South American countries is going to up surge the construction composites market by 2025.

Construction composites market by application:

  • Residential
  • Commercial
  • Industrial

Important pointers encompassed pertaining to the application spectrum:

  • The report includes major details regarding the application spectrum.
  • The study mentions information about the revenue estimate of the application categories by the end of the forecast duration.
  • The market share accounted for by each of the application segments are discussed in the report.
  • The study also discusses the ongoing and future trends defining the application spectrum.

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Residential buildings involve houses, apartments, housing societies etc. For example, Gammon Construction, a joint venture between Balfour Beatty and Jardine Matheson, has secured a contract worth around USD 430 million to build a large scale residential development in Hong Kong. Likewise, numerous other residential construction activities are on the play that is driving the construction composites market in the near future.

Construction Composites Market in Latin America is expected to expand with a CAGR close to 5% in the forecast timeframe. The region accounts for approximately over 17,000 upcoming constructions projects to be constructed. For example, Enel Green Power Peru has broken ground on its first wind farm in Peru. Enel will spend nearly USD 165 million in the construction of the new wind farm with a capacity close to 132MW i.e. the power generated by the wind farm would be adequate to meet the energy requirements of more than 480,000 homes.

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

Extensive construction activities due to the increasing per capita income and the improving living standards are boosting the construction expenditure in the developing nations, which has been subsequently driving the construction composites market in the recent years. For instance, in China the expansion project of Beijing airport that is expected to be completed by 2025 will surely surpass Dubai's Al Maktoum Airport in total square miles, cost, and plane & passenger capacity.

Related News:

  1. https://www.marketwatch.com/press-release/asia-pacific-air-filtration-market-growth-projection-to-2023-industrial-sector-to-register-a-cagr-of-95-2019-10-03
  2. https://www.marketwatch.com/press-release/2019-2024-steel-rebar-market-business-strategies-regional-demand-and-growth-forecast-2019-10-01

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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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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