Global Construction Composites Market Insights Forecasts to 2033

• The Global Construction Composites Market Size was Valued at USD 54.9 Billion in 2023
• The Market Size is Growing at a CAGR of 5.46% from 2023 to 2033
• The Worldwide Construction Composites Market Size is Expected to Reach USD 93.4 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Construction Composites Market Size is Anticipated to Exceed USD 93.4 Billion by 2033, Growing at a CAGR of 5.46% from 2023 to 2033.

Market Overview

A construction composite is an engineered material with different chemical or physical properties from two or more materials. This takes characteristics from the collective materials to produce high-performing building materials. Construction composite are used for the several properties includes, strength and durability, lightweight, construction composite is quick to install, construction composite has excellent load-bearing properties, can be environmentally sustainable, construction composite performs well in fire conditions, and maximize usable floor space. In addition, According to The U.S. National Science Foundation Industry-University Cooperative Research Centers Program, Efficient infrastructure systems are essential for a healthy economy and comfortable standard of living. Concrete, steel, and timber are the backbones of physical infrastructure. High-strength polymer composites have been used in aerospace technologies for about five decades and their use in civil infrastructure spans about 20 years. Furthermore, the factors that contributes to the growth of construction composites market is, the increasing urbanization and industrialization, together with long life & the low maintenance constraint. 

Report Coverage

This research report categorizes the market for construction composites based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the construction composites market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the construction composites market.

Driving Factors

The demand for construction composites is expected to increase due to the growth of the construction industry and the rising need for eco-friendly and low-maintenance products. Additionally, the construction industry's demand for composites is propelled by their long service life and low maintenance costs. Moreover, the shift in lifestyle driven by higher per capita income in emerging regions is a significant factor in the development of advanced and technologically integrated buildings, which require specific composites to ensure durability and functionality in various conditions. Consequently, all these factors combined contribute to the expansion of the global construction composites market.

Restraining Factors

The process of upgrading the machinery used in technology is costly, which directly affects the overall production costs of composite materials. Composite materials such as carbon fiber and glass fiber are pricier compared to traditional materials like steel, aluminum, and wood, thereby influencing the direct costs of composites used in construction. The labor-intensive installation of composites in construction projects demands a skilled workforce. The high installation costs of composites are expected to hinder their demand in construction applications.

Market Segmentation

The construction composites market share is classified into resin and fiber.

• The polyester segment is estimated to hold the highest market revenue share through the projected period.

Based on the resin, the construction composites market is classified into polyester, vinyl ester, polyethylene, and polypropylene. Among these, the polyester segment is estimated to hold the highest market revenue share through the projected period. Polyester resin proves to be a cost-efficient option in comparison to other resins, while also being durable and easy to work with. Its high strength-to-weight ratio and resistance to corrosion make it indispensable in the construction sector. Structures made with polyester resin are renowned for their ability to endure harsh weather conditions and maintain performance over extended periods of time. The resin's quick manufacturing cycles and capacity for higher production volumes have made it a favorite among construction industry players.

• The carbon fiber segment is anticipated to hold the largest market share through the forecast period.

Based on the fiber, the construction composites market is divided into glass fiber, carbon fiber, and natural fiber. Among these, the carbon fiber segment is anticipated to hold the largest market share through the forecast period. Carbon fiber composites offer high corrosion resistance, reduced thermal expansion, and exceptional durability, rendering them utilized in the production of aerospace parts. Additionally, increasing aircraft production may further expand the carbon fiber composites industry over the forecast period. The market is experiencing a slew of material innovations, including the introduction of Carbon Fiber Reinforced Thermoplastic (CFRTP). Advanced CFRTP with mass production technology has a molding time of one minute with around 40% lighter and ten times higher impact resistance compared to steel.

Regional Segment Analysis of the Construction Composites Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the construction composites market over the predicted timeframe.

North America is anticipated to hold the largest share of the construction composites market over the predicted timeframe. This is due to several factors, including robust infrastructure development, increasing investments in construction projects, and a growing emphasis on sustainable building materials. The region's advanced technology and innovation in composite materials, coupled with a rise in demand for lightweight yet durable alternatives to traditional construction materials, further bolster its market position. Additionally, government initiatives promoting green building practices and energy-efficient solutions contribute to the growth of the construction composites market.

Asia Pacific is expected to grow at the fastest CAGR growth of the construction composites market during the forecast period. The region is mainly fueled by private sector commitments such as distribution capability expansion, increasing digital participation, and increasing geographic presence of manufacturing facilities. Investments in both infrastructure and non-residential sectors are driving the growth of the construction composites market in APAC. The demand for construction composites is increasing due to the need for more effective and efficient building materials. Composites are used to rehabilitate old concrete structures by binding cracks, replacing damaged concrete, and more. The Asia Pacific region is seeing significant growth in these industries, which are both major users of composites.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the construction composites market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• ConstructConnect, Inc.
• Bedford Reinforced Plastics
• Exel Composites
• Hughes Brothers, Inc.
• Jamco Corporation
• Strongwell Corporation
• Trex Company, Inc.
• UPM
• DOW
• Halocarbon, LLC
• Freudenberg SE
• The Chemours Company
• Metalubgroup
• Huntsman International LLC
• Bostik
• H.B. Fuller Company
• Sika AG
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In May 2024, Renco USA Inc. (Miami, Fla., U.S.) brought its mineral composite, fiber-reinforced (MCFR) building system using repurposed resins, glass fibers and naturally stirring calcium compounds to residential construction in an attempt to design strong, durable, and sustainable structures.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the construction composites market based on the below-mentioned segments: 

Global Construction Composites Market, By Resin Type

• Polyester
• Vinyl Ester
• Polyethylene
• Polypropylene

Global Construction Composites Market, By Fiber Type

• Glass Fiber
• Carbon Fiber
• Natural Fiber

Global Construction Composites Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa