According to
a new market report published by Lucintel, the future in the global composites repair and rehab market for the construction industry is promising with opportunities
in the civil infrastructure, existing and historic buildings, parking
structures and others. The
global composites repair and rehab market for the construction industry is expected to reach an estimated $190
million by 2024 with a CAGR of 4.7% from 2019 to 2024. The major driver for
this market is with the increase in seismic activities in North America and
Japan regions resulting in major structural damages like old and obsolete
buildings, bridges, highways, tunnels, parking structure etc.
In this market, carbon fiber composite, glass
fiber composites and others are the major fibers utilize to manufacture composites
system for repair and rehab for construction. On the basis of comprehensive
research, Lucintel forecasts that the carbon fiber composites is expected to
remain the largest fiber type by value and volume due to low cost, high
resistance properties and chemical stability.
Within this market, civil infrastructure is expected to remain the
largest application by value and volume due to high performance of FRP
materials than conventional concrete and steel repair material in bridges,
highways and tunnels resulting in increase in service life, reduction in maintenance
costs, faster construction and can allow increased vehicular load on equivalent
sized structures because of weight reduction. Lucintel predicts that the demand
for repair and rehab of existing and historic buildings is likely to experience
the high growth in the forecast period due to increase in natural calamities which drives seismic retrofitting, while the
retrofitting for durability increases significantly due to rising cases of
falling concrete pieces from existing structures which threaten human and
traffic safety.
In this market civil and residential end use is
the major end use industry. On the basis of comprehensive research, Lucintel
forecasts as the civil end use is expected to be largest segment by value. Increasing
infrastructure repair and rehab after seismic activities and use of FRP
material to increase the life expectancy of structures during repair and
retrofitting drives the market.
North America is expected to remain the
largest region by value and volume and is also expected to experience the
highest growth over the forecast period due to growth in infrastructural repair and rehab, especially in
California which is the most affected state of natural calamities. According to
Seismic Advisory Board of California, there are approximately 24000 bridges
which are under the risk of collapse in the coming couple of years.
Emerging
trend, which have a direct impact on the dynamics of the industry, include increasing
bio & recycled content in repair and rehab of civil infrastructures. Aegion,
Sika, Mapei, Simpson, Structural Technologies, Quakewrap are among the major
system manufacturers for the global composites repair and rehab market for the construction
industry.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities of global composites repair and rehab market for
construction by application, fiber
type, end use and region. Lucintel has prepared a comprehensive research report
entitled “Growth
Opportunities in
the Global Composites Repair and Rehab Market for the Construction Industry
2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a
catalyst for growth strategy as it provides a comprehensive data and analysis
on trends, key drivers, and directions. The study includes a forecast for the global composites repair and rehab market for
construction by application, fiber
type, end use and region as follows:
By Application (Volume (Million lbs) and $M
shipment analysis for 2013 – 2024):
- Civil infrastructure
- Existing and Historic Building
- Parking Structure
- Others
By Fiber Type (Volume (Million lbs) and $M
shipment analysis for 2013 – 2024):
- Carbon Fiber Composite
- Glass Fiber Composites and Others
By End use (Volume (Million lbs) and $M
shipment analysis for 2013 – 2024):
- Civil
- Residential
By Region (Volume (Million lbs) and $M
shipment analysis for 2013 – 2024):
·
North America
·
Europe
·
Asia Pacific
·
The Rest of the World
This
215 page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel
offerings include advanced
materials reports, composite
materials market report, strategic
growth consulting, market research due
diligence and business
strategy consulting.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. We offer market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This
report answers following 11 key questions:
Q.1 What are some of the most promising
potential, high-growth opportunities for composites in the global composites repair
and rehab market for the construction industry by application (civil
infrastructure, existing and historic buildings, parking structures and others),
fiber type (carbon fiber composite, glass fiber composites and others), end
use(civil, residential) and region (North America, Europe, Asia Pacific, and
the Rest of the World)?
Q.2 Which
segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace
and why?
Q.4 What are the key factors affecting market
dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to
the market?
Q.6 What are emerging trends in this market
and the reasons behind them?
Q.7 What are some changing demands of
customers in the market?
Q.8 What are the new developments in the
market? Which companies are leading these developments?
Q.9 Who are the major players in this market?
What strategic initiatives are being implemented by key players for business
growth?
Q.10 What are some of the competitive products
and processes in this area and how big of a threat do they pose for loss of
market share via material or product substitution?
Q.11 What M & A activities have taken
place in the last 5 years in this market?
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