Construction Repair Composites Market

Analysts at GMI Research estimates that the Construction Repair Composites Market was worth USD 360 million in 2022, and forecast to touch USD 755 million in 2030, growing at a CAGR of 9.7% from 2023-2030.

Construction Repair Composites Market Overview

Global Construction repair composites market generated a revenue of USD 299 million in 2020 and is forecast to grow at 9.7% CAGR over the forecast period (2021-2028). The growing use of construction repair composites across various end-use applications including commercial, oil & natural gas, residential, and industrial structures is the major factor driving the construction repair composites market.

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Construction Repair Composites Market Drivers

The construction repair composites market is anticipated to witness a faster growth over the upcoming years, owing to the emerging need for environment-friendly and strong construction materials aided by the growing awareness about the impact of construction on environment. The growing prominence of composites in the construction industry because of their several benefits including low maintenance cost, durability, aesthetics, and flexibility will pave the way for market. With the rising aged infrastructure, the need for repairs and renovations of existing infrastructure has augmented, thus, driving the market growth. The rising investment in the construction industry is further projected to bolster the market growth. For instance, as per the IBEF, the Indian Government allocated USD 1.89 Billion to support initiatives such as “Housing for All” and “Smart Cities Mission”. However, the high cost of these materials over other traditional repair methods, such as concrete patching or steel reinforcement is anticipated to hamper the Construction repair composites market size.

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Fiber Type – Segment Analysis

Carbon fiber type is anticipated to hold a larger share during the forecast period, owing to their low thermal conductivity, durability, and better cohesion when used with concrete. The increasing application of carbon fibers in industrial structure, residential, oil & natural gas, and commercial industries is forecast to expand the segment’s growth. Moreover, the stiffness and strength of carbon fibers make them suitable to make building materials will further strengthen the Construction repair composites market share.

Application – Segment Analysis

Commercial application is estimated to expand at a faster CAGR over the forecast period, because of the rising investment by the government of developed nations in intrastromal development. Moreover, the substantial surge in the number of commercial infrastructures including hospitals, schools, offices, and universities will bolster the market during the forecast period. For example, as per the Center for Sustainable Systems, University of Michigan, by 2050, in United States commercial building floor space is projected to touch 124.3 billion square feet, i.e., a 33% increase from 2020.

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Regional – Segment Analysis:

Asia Pacific region is estimated to expand at a higher CAGR over the forecast period, due to the innovations in industrial technology solutions and the emerging need of construction repair for several structures. The increase in infrastructure development across economically developing countries such as China, India, and others will strengthen the market growth. For instance, according to the International Trade Administration, China is the world’s largest construction market, with industry predicted to grow at an annual average of 5.2% between 2021 and 2029.

Top Market Players 

Various notable players operating in the market, include, Sika AG, MAPEI S.p.A., Fosroc, Inc., MBCC Group, Owens Corning, DowAksa, Chomarat, Sireg Geotech S.r.l., Mitsubishi Chemical Corporation, Simpson Strong-Tie Company, Inc., among others.

Key Developments:

• • In 2022: Fibrolux, the largest pultruders and a technology leader for the development and production of pultruded composites, announced the completion of its largest civil engineering project to date. Fibrolux offered over 16km of large-scale custom fiberglass pultrusion for the renovation of the 1km Marshal Jozef Pilsudski Bridge in Torun, Poland, with double-width pedestrian and cycling walkways.
  • In 2021— Fiberon launched Wildwood composite cladding, which incorporates the unrivalled beauty and warmth of wood with the strength, high-performance, low-maintenance materials. The Wildwood composite cladding has an open-joint profile and is available in various board lengths and widths.
  • In 2021, Owens Corning announced the acquisition of vliepa GmbH. The combination expands the company’s global nonwovens portfolio to accelerate growth and strengthen offering in the European building & construction market.

Segments covered in the Report:

The global construction repair composites market has been segmented on the basis of fiber type, resin type, application, and region. Based on fiber type, the market is segmented into glass, and carbon. Based on resin Type, the market is segmented into Vinyl Easter, Epoxy and Others. Based on application the market is segmented into residential, commercial, and industrial.

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Market Segmentation

Global Construction Repair Composites Market by Fiber Type

• • Glass
  • Carbon

Global Construction Repair Composites Market by Resin Type

• • Vinyl Easter
  • Epoxy
  • Others

Global Construction Repair Composites Market by Application

• • Residential
  • Commercial
  • Industrial

Global Construction Repair Composites Market by Region

• • North America Construction Repair Composites Market (Option 1: As a part of the free 25% customization)

    • By Fiber Type
    • By Resin Type
    • By Application
    • US Market All-Up
    • Canada Market All-Up

  • Europe Construction Repair Composites Market (Option 2: As a part of the free 25% customization)

    • By Fiber Type
    • By Resin Type
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Construction Repair Composites Market (Option 3: As a part of the free 25% customization)

    • By Fiber Type
    • By Resin Type
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Construction Repair Composites Market (Option 4: As a part of the free 25% customization)

    • By Fiber Type
    • By Resin Type
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Construction Repair Composites (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Sika AG
  • MAPEI S.p.A.
  • Fosroc, Inc.
  • MBCC Group
  • Owens Corning
  • DowAksa
  • Chomarat
  • Sireg Geotech S.r.l.
  • Mitsubishi Chemical Corporation
  • Simpson Strong-Tie Company, Inc.