The global construction repair composites market size was worth around USD 361 Million in 2022 and is predicted to grow to around USD 750 Million by 2030 with a compound annual growth rate (CAGR) of roughly 9.51% between 2023 and 2030. construction repair composites Industry share By Resin Type, Fiber Type, Product Type, Application, Region
The global construction repair composites market size was worth around USD 361 Million in 2022 and is predicted to grow to around USD 750 Million by 2030 with a compound annual growth rate (CAGR) of roughly 9.51% between 2023 and 2030.
The report analyzes the global construction repair composites market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the construction repair composites market.
Construction repair composites are materials that are used for strengthening or repairing concrete units and structures that have undergone damage due to issues such as aging, corrosion, or impact. The materials are produced by mixing different types of resins, fibers, and Construction aggregates. The final product created is designed to be applied to the surface of the damaged structure to provide additional strength thus improving its durability.
The construction repair composites can be used for a variety of applications including repairing cracks, spalls, and other types of damage in concrete structures such as bridges, buildings, and roads. They can also be used as a strength-reinforcing material for structures that are subjected to heavy loads or stress. The construction repair composites industry deals with the production and distribution of construction repair composites to its end-user verticals. During the forecast period, the market is expected to continue its growth trend while having to manage certain roadblocks and challenges.
Key Insights:
Increasing demand for infrastructure development to propel market growth
The global construction repair composites market is projected to grow owing to the increasing demand for infrastructure development across the world. With the increasing number of people, the governments and regional governments are under tremendous pressure to ensure that the country’s infrastructure is ready to manage the needs of a drastically rising population. This trend is applied in both urban and rural regions.
Due to rampant urbanization, there is a need for ensuring that the roads, bridges, flyovers, highways, buildings, and every other concrete structure is capable of handling the growing load. In rural areas, the old structures are unable to withstand harsh environments such as constant floods and rising intense temperatures. Furthermore, renovation and infrastructure development are key factors that directly impact the economic growth of the country. This is expected to work in the favor of the industry as renovation activities on public concrete structures are rising annually.
Growing concerns over the environmental impact to restrict market growth
While construction repaid composites are considered more environmentally friendly than other repair and strengthening methods, there seems to be a growing concern over the overall environmental impact of using these materials which is likely to impede the global construction repair composites market growth. For instance, the manufacturing process of repairing composites is resource intensive since it involves procedures such as high-temperature curing which can lead to the emission of greenhouse gasses. Furthermore, the raw materials used in producing these composites are petroleum-based resin which is a nonrenewable source.
Emerging applications to provide growth opportunities
The global construction repair composites market is expected to come across several growth opportunities during the forecast period as the industry is witnessing emerging applications apart from using them as repairing only concrete structures. The material is highly versatile and holds tremendous potential. Currently, more investments are being made toward using construction repair composites for repairing offshore structures and pipelines. With these new end-uses, the market growth opportunities are tremendous.
Growing competition from traditional methods to challenge market growth
The global construction repair composites industry players face tremendous competition from traditional methods of repairing and strengthening. Since these methods have been long used, companies or certain customers may prefer to continue these methods due to the higher availability of resources along with better familiarity with the processes. This may make it difficult for new entrants to make a market in the construction and repair sector.
The global construction repair composites market is segmented based on resin type, fiber type, product type, application, and region.
Based on resin type, the global market segments are epoxy, vinyl ester, and others. The industry witnessed massive growth in the epoxy segment as it is currently the most commonly used resin to prepare construction repair composites. Epoxy resins are known to have excellent adhesive properties They also have high resistance to chemicals and moisture which makes them highly suitable for strengthening and repair applications. Vinyl esters are another significant contributor to the segmental share with growing applications in the construction repair composites particularly in sites of structures that require high resistance to heat and chemicals. As per India’s Ministry of Road Transport and Highways, out of the country’s total number of bridges currently existing, 30% are more than 50 years old.
Based on fiber type, the construction repair composites industry segments are carbon fiber, glass fiber, and others.
Based on product type, the global market is segmented into rebar, plate, textile/fabric, adhesive, mesh, and others. In 2022, the rebar segment accounted for the largest segmental share. Rebars are also known as reinforcing bars and they have wide-scale applications in the construction industry where they are used to prevent cracking and failure. Although rebar cannot be considered a composite material, it is mostly used in combination with other types of construction repair composites. Plates or sheets made of composite materials are also significant revenue generators. They are mostly made of carbon fiber or fiberglass and are applied using adhesives. As per the Australian Bureau of Statistics (ABS), the infrastructure industry contributed 5.5% of the country’s Gross Domestic Product (GDP), as per September 2021 report.
Based on application, the construction repair composites industry divisions are water structure, residential, bridge, commercial, industrial structure, silo flue pipe, and others.
Report Attributes | Report Details |
---|---|
Report Name | Construction Repair Composites Market Research Report |
Market Size in 2022 | USD 361 Million |
Market Forecast in 2030 | USD 750 Million |
Growth Rate | CAGR of 9.51% |
Number of Pages | 199 |
Key Companies Covered | Sika AG, BASF SE, Arkema SA, Owens Corning, Saint-Gobain S.A., S&P Global Inc., DuPont de Nemours, Inc., Ashland Global Holdings Inc., Henkel AG & Co. KGaA, W.R. Grace & Co., PPG Industries, Inc., Mapei S.p.A., 3M Company, Fosroc International Limited, Dow Inc., RPM International Inc., GCP Applied Technologies Inc., Simpson Strong-Tie Company Inc., Chomarat Group, Fiber-Tech Industries Inc., ENECON Corporation, Structural Group Inc., Canam Group Inc., Normet Group Oy, GFRP Composites Inc. |
Segments Covered | By Resin Type, By Fiber Type, By Product Type, By Application, And By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2023 - 2030 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
North America to witness the highest growth
The global construction repair composites market is expected to witness the highest growth in North America with the US and Canada leading with high CAGR. The United States has a robust infrastructure and the country has consistently invested in improving its architecture ensuring that the nation withholds its position as a highly advanced country.
The current government of the US led by President Biden has already proposed a future investment of USD 2.3 trillion that will be invested in infrastructure plans including upgrading the country's current architecture. Furthermore, the increasing number of players that are consistently investing in research & development to make construction repair composites more efficient and widen their applications could also lead to a higher growth rate. In Europe, the rising number of renovation activities on older structures to maintain the region's well-known concrete systems could lead to higher demand.
The global construction repair composites market is led by players like:
By Resin Type
By Fiber Type
By Product Type
By Application
By Region
FrequentlyAsked Questions
Construction repair composites are materials that are used for strengthening or repairing concrete units and structures that have undergone damage due to issues such as aging, corrosion, or impact.
The global construction repair composites market is projected to grow owing to the increasing demand for infrastructure development across the world.
According to study, the global construction repair composites market size was worth around USD 0.361 billion in 2022 and is predicted to grow to around USD 0.75 billion by 2030.
The CAGR value of the construction repair composites market is expected to be around 9.51% during 2023-2030.
The global construction repair composites market is expected to witness the highest growth in North America with the US and Canada leading with high CAGR.
The global construction repair composites market is led by players like Sika AG, BASF SE, Arkema SA, Owens Corning, Saint-Gobain S.A., S&P Global Inc., DuPont de Nemours, Inc., Ashland Global Holdings Inc., Henkel AG & Co. KGaA, W.R. Grace & Co., PPG Industries, Inc., Mapei S.p.A., 3M Company, Fosroc International Limited, Dow Inc., RPM International Inc., GCP Applied Technologies Inc., Simpson Strong-Tie Company Inc., Chomarat Group, Fiber-Tech Industries Inc., ENECON Corporation, Structural Group Inc., Canam Group Inc., Normet Group Oy, GFRP Composites Inc.
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