It is anticipated that the global construction repair composites market will reach approximately USD 750 Million by 2030, with a compound annual growth rate (CAGR) of approximately 9.51% between the years 2023 and 2030. In 2022, the market was estimated to be worth approximately USD 361 Million.
Construction Repair Composites Market: Overview
Construction repair composites are materials that are used for strengthening or repairing concrete units and structures that have been damaged as a result of issues such as aging, corrosion, or impact. These types of problems can cause damage to concrete over time. The components are made by combining numerous kinds of resins, fibers, and construction aggregates in a single production step. The completed product is intended to be applied directly to the surface of the structure that has been damaged in order to provide additional strength and thereby improve the structure’s durability.
Cracks, spalls, and other types of damage can occur in concrete structures such as bridges, buildings, and roads. The construction repair composites can be used for a variety of applications, including repairing these types of damage in concrete structures. In addition, they can be utilized in the construction industry as a material capable of reinforcing the strength of structures that are subjected to heavy loads or stress. The production and distribution of construction repair composites to various end-user verticals are the primary focuses of the industry that is known as construction repair composites. It is anticipated that the market will maintain its growth trend throughout the period covered by the forecast, despite the fact that it will have to deal with a number of obstacles and challenges.
Construction Repair Composites Market: Growth Drivers
Increasing consumer demands for new and improved infrastructure as a driver of market expansion
Because of the rising need for the construction of new infrastructure all over the world, the market for construction repair composites is expected to expand globally in the coming years. Because of the ever-increasing population, the federal and state governments, as well as the local governments, are under a great deal of pressure to make certain that the nation’s infrastructure is prepared to meet the requirements of an exponentially growing population. This pattern can be seen in both urban and rural areas of the world.
Construction Repair Composites Market: Segmentation
The market for construction repair composites is divided into distinct submarkets according to the type of resin used, the type of fiber used, the product type, the application, and the region.
Epoxy, vinyl ester, and other types of resin make up the two main segments of the global market, respectively. Epoxy is the resin that is currently used the most frequently to prepare construction repair composites, which contributed to the massive growth that the industry saw in that particular market segment. It is common knowledge that epoxy resins have excellent adhesive properties. They also have a high resistance to chemicals and moisture, both of which contribute to their high suitability for use in applications involving strengthening and repair.
Construction Repair Composites Market: Regional Analysis
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.
Construction Repair Composites Market: Competitive Analysis
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.
The global construction repair composites market is segmented as follows:
By Resin Type
Epoxy
Vinyl Ester
Others
By Fiber Type
Carbon Fiber
Glass Fiber
Others
By Product Type
Rebar
Plate
Textile/Fabric
Adhesive
Mesh
Others
By Application
Water Structure
Residential
Bridge
Commercial
Industrial Structure
Silo Flue Pipe
Others
By Region
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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