Construction is one of the largest markets for composites globally.Traditional Composites consists of wood, engineered wood, concrete and disc brake pads. But now, they have been taken over byfiber reinforced plastic composites whichare widely used because of the benefits they provide.
Primary benefits of composites include reduced weight and exceptional resistance to corrosion and rot which affect structures built with wood and steel. They also provide benefits such as less maintenance and repairs which reduce life-cycle costs. It further reduces installation costs as well as transportation costs. Owing to this great plethora of advantages, the Construction Composite market has picked up pace due to its greater design freedom which enables thecreation of complex shapes.Market Dynamics
Here we will analyze the market dynamics such as drivers, trends and industry-specific challenges for the construction composite market.
The main drivers for composites in construction are the need for good corrosion resistance materials in corrosive environments. It is needed for cladding for roofs & walls, seawalls, decks & railings, ductwork and underground ventilation systems. It is sustainable in the long run and is used in pollution prevention applications and also building structures for alternative energy. Government initiatives to promote green building further promote its use in the construction industry is further driven by rising infrastructure development activities and investments across the emerging economies of the world
Owing to urbanization and emerging middle class in the developing countries, there has been rapid growth in the construction industry.
Restraint & Challenges:
The potential challenges for the composite construction industry are rising costs, asset bubblelose credit,and political instability. The other limiting factors are high cost of materials and the dearth of high volume manufacturing processes.Market Segmentation
The market is segmented by Fiber type composites:
--> Carbon fiber
--> Glass fiber
Carbon fibers are high in tensile strength, low in thermal expansion, high stiffness, high-temperature tolerance, high chemical resistance, and lightweight and outperform glass fibers. On the other hand, glass fiberis comparatively cheaper and less brittle than carbon fiber, and thus used significantly more in composites. Glass fibers are used as reinforcing agents in various polymer products to form lightweight plastic polymers.
The market is segmented by Resin type composites:
Thermoplastic resins can be re-melt and reshaped by heating above processing temperature. They are considerably less expensive, wieldable, non-toxic in nature, recyclable for other processes and have high toughness. On the other hand, Thermoset resins are synthetic materials that obtain more strength when heated, but cannot be remolded after the initial heating. But it is much stronger as it can withstand high temperatures.
The market is segmented by Application:
There is an increasing use of the product in application areas such as stairways, walkways, trash gates, gratings, and ladders in the industrial segment, owing to the anti-corrosion and moisture-proof propertiesare expected to drive the segment growth. Owing to the demand for low maintenance and durable products, the industrial and residential segments are expected to be the higher revenue-generating segments.
North America and Europe are still the dominant markets, with shares of 35% and 27% respectively, but faster growth rates in Asia-Pacific before the economic crash had indicated that the region would overtake Europe as the worlds second largest composites market by the end of the century. Consumption of composites in Asia-Pacific is currently less but with technology, this is likely to increase more than tenfold.Key Players
Some of the major players in the market include:
--> Fibergrate Composite Structures, Inc.
--> Advanced Environmental Recycling Technologies Inc.
--> Fiberon LLC; StrongwellCorporation
--> Trex Company, Inc
--> Zhengzhou YalongPultrex Composite Materials Co., Ltd.
--> Jiangsu Jiuding New Material Co.Report Contents
> Market segments
> Market Drivers, Restraints and Opportunities
> Market Size & Forecast 2016 to 2022
> Supply & Demand Value Chain
> Market - Current Trends
> Competition & Major Companies
and R&D Status
> Porters Five Force Analysis
> Strategic and Critical Success Factor Analysis of Key PlayersRegional Analysis:
> North America
>> US and Canada
> Latin America
>> Mexico, Brazil, Argentina and Rest of Latin America
> Western Europe
>> EU5 (Germany, France, Italy, Spain, U.K.)
>> Nordic Countries (Denmark, Finland, Norway, and Sweden)
>> Benelux (Belgium, The Netherlands, and Luxembourg)
>> Rest of Western Europe
> Eastern Europe
>> Rest of Eastern Europe
> Asia Pacific
>> Australia and New Zealand
>> Rest of Asia Pacific
> Middle East and Africa
>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
>> South Africa
>> North Africa
>> Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.Report Highlights:
> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
> Consumer and Pricing Analysis
> Market dynamics of the industry
> Market Segmentation
> Estimated Market Sizing in terms of volume and value
> Recent trends in Market and impact
> Research Status and Technology
> Extensive Industry Structure Coverage
Publisher Name : Market Litmus