Construction Composites Market is forecast to exceed USD 65 billion; according to a new research report.
Sellbyville, DE -- (SBWIRE) -- 05/14/2019 -- Global Market Insights recently introduced new report on global Construction Composites market with an in-depth study providing complete analysis of the industry size, share and statistics for the period 2019 to 2025. It also provides complete overview of Construction Composites industry considering all the major industry trends, market dynamics and competitive scenario.
Extensive construction activities due to the increasing per capita income and the improving living standards are boosting the construction expenditure in the developing nations, which has been subsequently driving the construction composites market in the recent years. The market is forecast to exceed USD 65 billion; according to a new research report.
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Extensive construction activities due to the increasing per capita income and the improving living standards are boosting the construction expenditure in the developing nations, which has been subsequently driving the construction composites market in the recent years. For instance, in China the expansion project of Beijing airport that is expected to be completed by 2025 will surely surpass Dubai's Al Maktoum Airport in total square miles, cost, and plane & passenger capacity.
In China the expansion project of Beijing airport that is expected to be completed by 2025 will surely surpass Dubai's Al Maktoum Airport in total square miles, cost, and plane & passenger capacity. Similarly, in India Versova-Bandra sea link project has been approved. The bridge will be located about 900-1,800m from the coast of Mumbai, the stretch is approximately 17.7km, linking Versova and Bandra. Several other ongoing and future construction projects would increase the product demand directly propelling the construction composites market by 2025.
Subsequent increase in the construction of high rise buildings and infrastructures equipped with modern technological advancements is positively driving the use of fiberglass in the construction activities. Fiberglass are advanced composites which are being applied in all major infrastructure operations owing to its heavy durability and lightweight property. It increases the longevity and the reliability of the building or structure. Several, organizations are restoring historic buildings and monuments with fiberglass to increase the buildings life.
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Reinforced material Market for residential construction applications is expected to rise with a CAGR over 5% in the forecast period. Residential buildings involve houses, apartments, housing societies etc. For example, Gammon Construction, a joint venture between Balfour Beatty and Jardine Matheson, has secured a contract worth around USD 430 million to build a large scale residential development in Hong Kong. Likewise, numerous other residential construction activities are on the play that is driving the construction composites market in the near future.
Latin America reinforced material Market is expected to expand with a CAGR close to 5% in the forecast timeframe. The region accounts for approximately over 17,000 upcoming constructions projects to be constructed. For example, Enel Green Power Peru has broken ground on its first wind farm in Peru. Enel will spend nearly USD 165 million in the construction of the new wind farm with a capacity close to 132MW i.e. the power generated by the wind farm would be adequate to meet the energy requirements of more than 480,000 homes. Likewise, Chile is going to be a home of new 98MW power plant i.e. is expected to generate 70% of the country's electric power from renewable sources. Also, various other ongoing construction activities in South American countries is going to up surge the construction composites Market by 2025.
The Construction Composites market report offers detailed competitive landscape of the global market. It includes companies, industry statistics, market share analysis and product portfolio of the major industry participants. The report provides detailed segmentation of the Construction Composites market based on product, technology, end user and region.
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Construction composites market share is distributed among few market players. These players include:
- UPM Biocomposites
- Bedford Reinforced Plastics
- Exel Composites
- Diversified Structural Composites
- Strongwell Corporation
- Advanced Environmental Recycling Technologies
- Fiberon LLC
- Trex Company
- Schoeck International
- Hughes Brothers Inc.
- Fibrolux GmbH
- Jamco Corporation
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