Global Construction Repair Composites Market - 2022-2029

Global Construction Repair Composites Market - 2022-2029

Market Overview

The global construction repair composites market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX % during the forecast period (2022-2029).

Construction composites have a longstanding history of use in the global construction industry. Construction composites are a way of combining two materials to maximize the benefits of each. Construction composites are used to build and maintain a wide range of infrastructure worldwide, from buildings and bridges to roads and railroads. All across the world, construction composite materials are employed in building and construction projects.

Endurance, design flexibility, resistance to corrosion, strength and cheap maintenance are all advantages of construction composites. As a result, architects and builders are increasingly turning to construction composites. Construction composites have become the preferred material for various industrial applications, including pipe, tank, grating and equipment. Composite materials are increasingly being used to create sustainable business and residential structures because they require less energy and perform better.

Market Dynamics

The need for construction repair projects from diverse applications worldwide is driving the growth of the construction repair composites sector. COVID-19 caused a drop in demand for building repair composites in 2020. However, during the projection period, the end of the lockdown and recovery in the end-use industries will boost demand.

The rising demand from the commercial end-use application

The commercial application is one of the fastest expanding construction repair composites market segments in volume and value. Offices, schools, universities and hospitals are used for construction repair composites. Construction composites are used in the structural engineering of non-residential building projects because of their prospective benefits and cost-effectiveness in repairing essential components of wind turbines.

During the projected period, the rising population and the requirement for commercial building repairs in Asia-Pacific nations such as China and India are expected to drive up demand for construction repairs. This application is projected to drive the construction repair composites market. Construction repair composites are predicted to benefit from the resurgence in the construction repair business following the COVID-19 era.

Development of glass & basalt fibers and low-cost carbon

Polymeric resins and fibers are the primary basic materials used to make carbon fiber, glass fiber and basalt fiber composites. The price of fibers is directly proportional to the price of the precursor raw materials used to make them. Polyacrylonitrile (PAN) is currently used to make carbon fibers and the cost varies depending on the usage. Precursor materials are also utilized to make glass and basalt fibers.

The development of low-cost, high-yield precursors for the production of industrial-grade fibers (carbon/glass/basalt) would drastically lower the cost of the fibers. The low-cost fiber precursors would lower the price of industrial-grade fibers. The cost of fibers would be reduced, lowering the cost of fiber composites and, as a result, the cost of producing construction composite products, which companies could then offer to consumers at lower and more affordable costs.

Higher costs compared to traditional substitutes

Traditional alternatives, which have been utilized for the same range of applications, are more expensive than construction composites. The cost of fibers significantly impacts the pricing of construction composites. Construction CFRP products are significantly more expensive than GFRP and BFRP products. The price of construction GFRP goods is lower due to the large-scale production of glass fibers to satisfy the increase in demand for glass fiber and GFRP products internationally. Composite products are employed in bars, rods, mesh, textiles and other materials in the building industry.

Because of the high cost of fibers, the products have a higher average price than traditional products. Higher prices for such products have a greater impact in many underdeveloped nations, as customers prefer more conventional options. Competing with more traditional options, such as steel or aluminum, will be challenging because construction composite goods are still not widely used, especially in emerging economies. With increased mass production and advancements in manufacturing technology, prices may fall.

COVID-19 Impact Analysis

Due to the COVID-19 pandemic, the construction repair composites industry will fall in 2020. The virus has created havoc worldwide, particularly in North America and Europe. Companies shut down their operations and production facilities to prevent the virus from spreading further. It has decreased the use of construction repair composites in various applications, including residential, commercial, silo flue pipe, bridge, oil & natural gas pipelines, water structure and industrial structure.

Segment Analysis

By product, the construction repair composites market is segmented into textile/fabric, rebar and others.

Rebar to hold the lion’s share

Rebar is a light fiber-reinforced polymer with good strength to weight ratio. Rebars are employed as a substitute for steel reinforcements in the construction industry because they are transparent to magnetic fields and radio frequencies, are thermally and electrically non-conductive and are chemically resistant.

Geographical Analysis

Growing commercial construction in Europe

Construction repair composites are mostly used in the region's commercial, bridge and water structural sectors. The use of construction repair composites for bridges, water structures, industrial structural and commercial applications is the second main factor driving the construction repair composites market in this area.

The market in Europe is being driven by rising composites penetration in the construction industry and goods with long shelf lives and low maintenance costs. The region's high standard of life encourages innovative and high-end infrastructures, which are expected to drive higher product demand during the evaluation period. Furthermore, durability, enhanced workability and reduced building time would boost regional demand.

Competitive Landscape

The global construction composites industry has many manufacturers. Major global construction repair composites market companies include SIKA AG, Mapei SPA, FOSROC, Masterbuilder Solutions, Owens Corning, Strongwell, Galen LLC, Sireg Geotech S.r.l., Steklonit JSC and Chomarat Group.

Galen LLC

Overview: Galen is a Russian company that develops and manufactures new composite materials consisting of basalt and glass fiber reinforced polymer for application in the building, mining and highway industries. Galen is presently the main producer of BFRP construction materials on the national market, having been the first to introduce basalt materials to Russia and Western & Eastern Europe. Galen is the leading Russian manufacturer of wall ties, face dowels, composite rebars and masonry meshes, with 18 years of expertise. The items are famous for their durability, dependability, resistance to corrosion & fire and environmental friendliness. They're also three times stronger and four times lighter than metal ones.

Product Portfolio: Galen has been the leading producer of wall ties, face dowels and armature in the Russian construction market for the past ten years. Rock bolts and composite lightning poles are two of Galen's new offerings.

Key Development: Galen was one of the project's composite rebar suppliers. In 2019, work on a one-of-a-kind structure — a 23-kilometer-long floodway – began in Jizan, Saudi Arabia. It is now the world's largest project using only composite rebars for concrete reinforcement. Saudi Aramco, the Saudi Arabian national oil company, is the customer.

Why Purchase the Report?

Visualize the composition of the construction repair composites market segmentation by fiber, resin, product, application and region, highlighting the critical commercial assets and players.

Identify commercial opportunities in the construction repair composites market by analyzing trends and co-development deals.

Excel data sheet with thousands of construction repair composites market-level 4/5 segmentation points.

Pdf report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

Product mapping in excel for the key product of all major market players

The global construction repair composites market report would provide access to an approx. 69 market data table, 63 figures and 213 pages.

Target Audience 2022

Construction Repair Composites Service Providers/ Buyers

Industry Investors/Investment Bankers

Education & Research Institutes

Emerging Companies

Construction Repair Composites Manufacturers