ROBUST DEMAND FOR COMPOSITES IN CONSTRUCTION SECTOR UPSURGES THE GLOBAL CONSTRUCTION COMPOSITES MARKET AT A CAGR OF 5.74% DURING THE FORECAST OF 2017-2026
“According to a new market research report published by Inkwood Research, The Construction composites is expected to develop from $ 5010 million in 2016 to $ 8676 million by 2026, at a CAGR of 5.74% between 2017 and 2026.”
“Browse 18 market data Tables and 27 Figures spread through 110 Pages and in-depth TOC on construction composites Market Forecast 2017-2026.”
Growth in housing and construction sector, superior composite properties and strong demand for composites in the construction sector, driving the growth of the Construction Composites Market.
Green building products help in maintaining a healthy indoor environment
The construction sector takes up a lot of natural resources in the developmental and operational stage. This is in addition to CO₂ emissions, waste output, water use, and electricity consumption. The concept of green building emphasizes on minimizing the impact of a building on the environment. To achieve this, the materials are a vital component. Green buildings also help in maintaining a healthy indoor environment, including air quality, daylighting, air handling, durability, limited maintenance, and energy savings. The US Green Building Council developed the LEED Green Building Rating System, which provided a set of standards that can gauge environment-friendly and sustainable construction.
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Glass Fiber Is the Fastest Growing Segment by Type
Glass fiber composites are naturally resistant structural polymer fibers with high stiffness, high strength, lightweight and low cost. The construction composite materials that use glass fiber have superior mechanical properties and are better durable in comparison with either of the constituents alone. The manufacture of composites with glass fiber is comparatively less cumbersome in contrast with other fibers such as carbon fiber, aramid, and basalt. In the construction segment, glass fiber is used for residential, commercial, water transportation, and storage applications. The global glass fiber construction composites market was valued at $2806 million in 2016 and is anticipated to grow up to $5075 million by 2026, growing at a CAGR of 6.26% during the forecast period.
Asia Pacific penetrates the market by holding the highest market share
APAC accounted for more than 34% of the infrastructure spending in 2016. It was fueled largely by private sector commitments such as distribution capability expansion, increasing digital participation, and increasing geographic presence of manufacturing facilities. Investments in both infrastructure and non-residential sectors are expected to drive the growth of the construction composites market in APAC, which will increase the demand for high-performance WPCs. The Midwest region of China will receive the maximum investments in civil engineering to cope with the ongoing infrastructure development. India is focused on strengthening the infrastructure and has witnessed a much-needed reform in the legal and fiscal system because of the increase in foreign capital inflows, which will strengthen its economic condition. This can pave the way for improved and better infrastructure throughout the country. This is crucial for the overall economic growth of the country. The Asia Pacific is expected to grow from $ 1303 million in 2016 to 2993 million by 2016 during the forecast period.
The key established players in the Global Construction Composites market are Advanced Environmental Recycling Technologies, CPG International, Fiberon LLC, Trex Company INC, UPM Biocomposites.
The Global construction composites market report provides competitive landscapes, market drivers, trends, restraints, opportunities and challenges in this market. The report estimates the current size and the future growth potential of the market across diverse applications, technologies, verticals, types, and regions. The outlook of the report additionally comprises of mergers and acquisitions, strategies, product portfolios, agreements, partnerships and collaborations amongst the key players.
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