Construction Composites Market by Resin (Polyester, Polyethylene, Polypropylene), Fiber Type (Carbon Fibers, Glass Fibers, Natural Fibers), Application - Global Forecast 2024-2030

Construction Composites Market by Resin (Polyester, Polyethylene, Polypropylene), Fiber Type (Carbon Fibers, Glass Fibers, Natural Fibers), Application - Global Forecast 2024-2030

The Construction Composites Market size was estimated at USD 8.02 billion in 2023 and expected to reach USD 8.61 billion in 2024, at a CAGR 7.65% to reach USD 13.45 billion by 2030.

Construction composites refer to materials that are a combination of two or more unique constituents having enhanced properties. Construction composites offer superior strength, durability, and lightweight characteristics compared to traditional materials such as steel, aluminum, and concrete. Construction composites are used in architectural applications for cladding and roofing purposes and in civil infrastructure to build pipes, tanks, and towers. Global urbanization trends have driven the demand for new infrastructure projects that require durable materials with extended service life in harsh environmental conditions. Additionally, the increasing adoption of green building practices and smart building initiatives creates opportunities for environmentally friendly composite products made from renewable raw materials or recycled content. However, high initial production and installation costs of construction composites can be a barrier to entry for smaller construction projects. Additionally, the susceptibility of construction composites to adverse environmental factors can hinder the adoption of the materials in certain regions. Major players are constantly investing efforts to improve construction composite materials to tackle such challenges. Continuous advancements in material science technology that result in the development of innovative composite formulations tailored to specific application requirements present newer avenues of opportunities for construction composite manufacturers.

Regional Insights

In Asia, there is a high demand for construction composites due to the increase in infrastructure development projects such as residential buildings, highways, bridges, and tunnels, which drives the use of composite materials. Government initiatives to promote energy-efficient green buildings contribute to the adoption of advanced composite materials in Asian markets. Asia has significant global production for composites by volume, with China and India being major players. Asian manufacturers are quickly strengthening their positions, driven by regional demand and cost advantages. America's more mature industry holds a significant share of global consumption due to its developed infrastructure sector. Americas have established factories producing numerous types of polymeric matrix composites. Europe has a well-established market for construction composites thanks to its strong focus on sustainability and energy efficiency. In terms of innovation and R&D, Europe demonstrates strong capabilities in the development of advanced construction composites. In Europe, companies emphasize innovation and sustainability within their products while adhering to strict EU regulations.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Construction Composites Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Increasing residential and commercial construction activities worldwide
Adoption of construction composites for better efficiency and performance
Rising smart city projects demanding energy-efficient buildings

Market Restraints

High initial production cost of construction composites

Market Opportunities

Collaborations and partnerships for improving designs and materials of construction composites
Advancements in wall systems design and engineering using composites

Market Challenges

Limitations associated with construction composites

Market Segmentation Analysis

Resin: Beneficial properties of polyester construction composites for various applications
Fiber type: Growing preference for natural and biodegradable fibers in construction projects
Application: Need for materials that can withstand extreme conditions i industrial settings

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Construction Composites Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Construction Composites Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Michelin completes the acquisition of Flex Composite Group and creates expansion in high-tech engineered fabrics and films

Michelin acquired Flex Composite Group (FCG) to establish itself in the field of high-tech engineered fabrics and films. This strategic move aligns with Michelin's 2030 strategy and bolsters its polymer composite activities. The acquisition brings several notable benefits, including the creation of a major force in high-tech engineered fabrics and films and the unlocking of significant innovation synergies, all while enabling Michelin's pursuit of expansion in the construction composites sector.

Eva-Last Composite Building Materials Producer Officially Enters US Market

Eva-Last, an international manufacturer of composite building materials, acquired Fortress Deck Products and established its first branch in the United States. Eva-Last aimed to expand its market share by offering a wide range of high-quality composite building products. Leveraging Fortress's distribution network and partnerships with major retailers, along with Eva-Last's sustainable product range available in over 30 countries worldwide, the newly formed entity is well-positioned for expansion in the U.S. market.

DEEM Enterprises Signs First Strategic Construction Partnership With Northstar Technologies Group for Renaissance at Bader Field Project

DEEM Enterprises entered into a construction contract with Northstar Technologies Group for the Renaissance at Bader Field redevelopment project in the context of construction composites. Northstar is known for its sustainable building structures and systems, which contribute to the creation of stronger and highly energy-efficient buildings. By leveraging Northstar's technology, the development aims to meet the standards required for LEED Platinum certifications, ensuring the construction of an eco-friendly building with energy independence.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Construction Composites Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Construction Composites Market, highlighting leading vendors and their innovative profiles. These include 3A Composites, Advanced Environmental Recycling Technologies, Inc., Airex AG, Avient Corporation, BASF SE, Compagnie de Saint-Gobain S.A., Construction Composites Limited, DuPont de Nemours, Inc., Euroresins International GmbH, Exel Composites PLC, Gurit Services AG, Hexcel Corporation, Huntsman International LLC, Hyosung Corporation, Johns Manville, LAMILUX Heinrich Strunz Holding GmbH & Co. KG, LANXESS AG, LyondellBasell Industries N.V., Mar-Bal, Inc., Mitsubishi Chemical Corporation, Owens Corning, PPG Industries, Inc., Scott Bader Company Ltd., SGL Carbon, Solvay S.A, Strongwell Corporation, Teijin Limited, Toray Industries, Inc., Trex Company, Inc., and UPM-Kymmene Corporation.

Market Segmentation & Coverage

This research report categorizes the Construction Composites Market to forecast the revenues and analyze trends in each of the following sub-markets:

Resin
Polyester
Polyethylene
Polypropylene
Vinyl Ester
Fiber Type
Carbon Fibers
Glass Fibers
Natural Fibers
Application
Commercial
Industrial
Public
Residential
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

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