Construction Repair Composites Market Share

Global Construction Repair Composites Market Overview

Construction Repair Composites Market Size was valued at USD 0.32 Billion in 2022. The Construction Repair Composites industry is projected to grow from USD 0.35 Billion in 2023 to USD 0.75 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.10% during the forecast period (2023 - 2032). Increased use of construction composites in the residential and commercial sectors and rapid growth of the construction sector are the key market drivers accelerating market expansion.Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Construction Repair Composites Market Trends

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  Rising demand from commercial end-use applications is driving the market growth

  
  

Market CAGR for construction repair composites is being driven by the Rising demand from commercial end-use applications. Composite materials for construction repair are used to reinforce or fix concrete buildings and other structures that have suffered damage from things like corrosion, impact, or ageing. Different kinds of fibers, resins, and construction aggregates are combined to create the materials. The finished product's application to the surface of the damaged structure will increase its durability by adding additional strength.

Additionally, In terms of value volume and rate of growth, the commercial application ranks among the fastest-growing application segments in the construction repair composites market. Composite materials for construction repairs have a wide range of uses in the restoration of buildings like offices, schools, hospitals, and colleges. Due to their potential advantages and cost-effectiveness in repairing crucial wind turbine components, construction composites are used in the structural engineering of these non-residential construction projects. The demand for construction repairs is anticipated to increase during the projected period due to the growing population and the requirement for commercial construction repairs in APAC nations like China and India. Comparatively more expensive than traditional alternatives that have been employed for the same range of applications are construction composites.

There is a need to make sure that all concrete structures, including buildings, roads, bridges, flyovers, and highways, are able to support the increasing load due to the widespread urbanization. Older buildings in rural locations are not able to survive tough conditions like ongoing flooding and increasing, extremely hot temperatures. Additional important elements that have a direct bearing on the nation's economic expansion are refurbishment and infrastructure development. Given that renovation work on public concrete structures is increasing annually, this is anticipated to benefit the sector.

For instance, according to data on new residential construction provided by the U.S. Census Bureau and the U.S. Department of dwelling and Urban Development, an estimated 1,337,800 new residential dwelling construction units were finished in 2021, an increase of 4% from 2020. Thus, result in driving the Construction Repair Composites market revenue.

Expands Owens Corning's dominance in branded home goods in 2024 by acquiring a top producer of cutting-edge exterior and interior doors as well as door systems. builds a new growth platform that is scalable and operates in a $27 billion potential market by combining commercial, operational, and innovative skills. Additionally, Owens Corning reports a strategic evaluation of its Glass Reinforcements division under the Composites business unit.

Construction Repair Composites Market Segment Insights

Construction Repair Composites Fiber Type Insights

The Construction Repair Composites market segmentation, based on Fiber Type includes Glass Fiber, Carbon Fiber, and Others. The glass fiber segment dominated the market, because of its exceptional tensile strength, outstanding tensile durability, and extreme lightness. When two or more materials with different properties are mixed to form reinforced composites, a material with the same great qualities as the original composites is produced.

Figure1: Construction Repair Composites Market, by Fiber Type, 2022 & 2032 (USD Billion)Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Construction Repair Composites Resin Type Insights

The Construction Repair Composites market segmentation, based on Resin Type, includes Vinyl Easter, Epoxy, and Others. Due to their lower shrinkage and superior strength, epoxy category is occasionally more preferable in construction repair applications. Epoxies are mostly utilised with high-performance composites, which have outstanding mechanical qualities and great resistance to chemicals, heat, or corrosion.

The Construction Repair Composites market segmentation, based on Product Type includes Textile / Fabric, Plate, Rebar, Mesh, and Adhesive. The construction repair composites market's rebar category is experiencing the fastest growth. Rebar is a lightweight, fiber-reinforced polymer with exceptionally high strength. Rebars are employed in place of steel reinforcements in the construction industry because they are non-conductive thermally and electrically, transparent to magnetic fields as well as radio frequencies, and resistant to chemical assault.

Construction Repair Composites Application Insights

The Construction Repair Composites market segmentation, based on Application, includes Residential, Commercial, Bridge, Silo Flue Pipe, Oil & Natural Gas Pipe line, Water Structure, Industrial Structure, and Others. Due to growing industrialization on a scale and increased industrial activity, the industrial structure category is anticipated to be the most lucrative market for construction composites over the forecast period.

Construction Repair Composites Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Construction Repair Composites this market will be dominated by market area, owing to the growing number of firms who are continually spending in R&D to improve the effectiveness of construction repair composites and expand the range of applications they can be used for could also result in a faster growth rate.

Further, the major countries studied in the market report are The US, France, Canada, German, the UK, Italy, Spain, Japan, India, China, Australia, South Korea, and Brazil.

Figure2: CONSTRUCTION REPAIR COMPOSITES MARKET SHARE BY REGION 2022 (USD Billion) Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Europe Construction Repair Composites market accounts for the second-largest market share due to the construction repair composites are mostly used in commercial, bridge, and water structures in the area. Further, the German Construction Repair Composites market held a dominant market share, and the UK Construction Repair Composites market was the fastest growing market in the European region

The Asia-Pacific Construction Repair Composites Market is anticipated to see the fastest CAGR between 2023 and 2032. This is because of improvements in industrial technology solutions and the growing requirement for construction repair on a number of structures. Moreover, China’s Construction Repair Composites market held the largest market share, and the Indian Construction Repair Composites market was the fastest-growing market in the Asia-Pacific area.

Construction Repair Composites Key Market Players& Competitive Insights

Leading market players are putting a lot of money into R&D to expand their product line, which will help the Construction Repair Composites market, grow even more. Additionally, market participants are engaging in a range of strategic initiatives to increase their worldwide reach, with important market developments such as the introduction of new products, contracts, mergers and acquisitions, increased investments, and cooperation with other organizations. To grow and endure in an increasingly competitive and challenging market environment, Construction Repair Composites industry must provide reasonably priced goods.

One of the main business strategies employed by manufacturers is to produce locally to reduce operational expenses in the Construction Repair Composites industry to develop market sector and provide benefits to customers. In recent years, the Construction Repair Composites industry has provided some of the most important benefits to the infrastructure sector. Major players in the Construction Repair Composites market, including Sika AG, BASF SE, Arkema SA, Owens Corning, Saint-Gobain S.A., S&P Inc., DuPont de Nemours, Inc., Ashland Holdings Inc., Henkel AG & Co. KGaA, W.R. Grace & Co., PPG Industries, Inc., Mapei S.p.A., and others, are attempting to increase market demand by investing in research and development operations.

Swiss multinational Sika AG, with its headquarters in Baar, provides speciality chemicals to the building and automotive industries. The business creates systems and goods for bonding, sealing, dampening, strengthening, and protecting. It currently has more than 33,000 workers, subsidiaries in more than 100 countries, and a CHF 10.5 billion annual sales turnover. Kaspar Winkler lay the company's foundational stone in 1910, establishing Sika as a result. After rising out of poverty to become a prosperous businessman, Winkler began establishing subsidiaries abroad during the 1920s. In 2023, Sika purchased MBCC, a company with operations in 60 countries, 95 production facilities, 6,200 workers, and a 2022 revenue forecast of 2,100 million CHF.

Along with its six integrated manufacturing sites, BASF has 390 more production facilities across Europe, Asia, Australia, the Americas, and Africa. It also maintains joint ventures and subsidiaries in more than 80 countries. Over 190 nations are BASF's customers, and the business provides its products to numerous industries. The corporation, despite its size and reach, combined with a number of other German chemical firms to become the chemicals conglomerate IG Farben. The economic development of Nazi Germany was significantly influenced by IG Farben. In 2019, the sale of BASF's ultra filtration membrane company, Inge GmbH, was negotiated with DuPont Safety & Construction, a DuPont Co. subsidiary business unit. Executives from BASF claim that Inge GmbH and its goods work better with DuPont and their corporate strategy.

Key Companies in the Construction Repair Composites market include

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  Sika AG

  
  


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  BASF SE

  
  


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  Arkema SA

  
  


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  Owens Corning

  
  


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  Saint-Gobain S.A.

  
  


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  S&P Inc.

  
  


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  DuPont de Nemours Inc.

  
  


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  Ashland Holdings Inc.

  
  


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  Henkel AG & Co.

  
  


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  KGaA

  
  


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  W.R. Grace & Co.

  
  


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  PPG Industries, Inc.

  
  


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  Mapei S.p.A.

  
  


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  3M Company

  
  


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  Fosroc International Limited

  
  


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  Dow Inc.

  
  


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  RPM International Inc.

  
  


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  GCP Applied Technologies Inc.

  
  


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  Simpson Strong-Tie Company Inc.

  
  


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  Chomarat Group

  
  


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  Fiber-Tech Industries Inc.

  
  


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  ENECON Corporation

  
  


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  Structural Group Inc.

  
  


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  Canam Group Inc.

  
  


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  Normet Group Oy

  
  


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  GFRP Composites Inc.

  
  

Construction Repair Composites Industry Developments

May 2022: Arkema announced its new method for creating composite materials that are recyclable and more effective. The business has been attempting to create environmentally friendly and recyclable chemicals because it wants to live in a sustainable world.

August 2022: V2 Composites, an Australian company that provides carbon fiber-reinforced polymer (CFRP) repair solutions, recently introduced a new and improved carbon fibre T-Biscuit that is anticipated to serve as the go-to method for repairing flange-to-flange shear connections seen in pre-cast double tee beams in parking units.

Construction Repair Composites Market Segmentation

Construction Repair Composites Fiber Type Outlook

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  Glass Fiber

  
  


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  Carbon Fiber

  
  


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  Others

  
  

Construction Repair Composites Resin Type Outlook

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  Vinyl Easter

  
  


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  Epoxy

  
  


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  Others

  
  

Construction Repair Composites Product Type Outlook

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  Textile / Fabric

  
  


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  Plate

  
  


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  Rebar

  
  


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  Mesh

  
  


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  Adhesive

  
  

Construction Repair Composites Application Outlook

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  Residential

  
  


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  Commercial

  
  


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  Bridge

  
  


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  Silo Flue Pipe

  
  


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  Oil & Natural Gas Pipe line

  
  


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  Water Structure

  
  


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  Industrial Structure

  
  


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  Others

  
  

Construction Repair Composites Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America