NEW YORK, United States, May 08, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Construction Repair Composites Market By Resin Type (Epoxy, Vinyl Ester, And Others), By Fiber Type (Carbon Fiber, Glass Fiber, And Others), By Product Type (Rebar, Plate, Textile/Fabric, Adhesive, Mesh, And Others), By Application (Water Structure, Residential, Bridge, Commercial, Industrial Structure, Silo Flue Pipe, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Construction Repair Composites Market size & share in terms of revenue was valued at USD 361 million in 2022 and it is expected to surpass around USD 750 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 9.51% during the forecast period 2023 to 2030.”

What are Construction Repair Composites? How big is the Construction Repair Composites Industry?

Report 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 difficulties such as ageing, corrosion, or impact. These types of issues can lead to damage in concrete over time. The components are made by combining numerous kinds of resins, fibres, and construction aggregates in a single production step. The completed product is intended to be put directly to the surface of the structure that has been damaged in order to offer additional strength and hence improve the structure's durability.

Cracks, spalls, and other sorts of damage can occur in concrete structures such as bridges, buildings, and roads. The construction repair composites can be used for a range of applications, including mending these types of damage in concrete structures. In addition, they can be utilised in the construction industry as a material capable of enhancing the strength of structures that are subjected to significant loads or stress. The manufacture and marketing 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 would maintain its growth pattern throughout the period covered by the forecast, despite the fact that it will have to deal with a number of obstacles and challenges.

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Global Construction Repair Composites Market: Growth Factors & Restraints

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 next 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.

Because urbanization is progressing at such a rapid rate, there is a pressing need to ensure that all concrete structures, including roads, bridges, flyovers, highways, buildings, and anything else made of concrete, are strong enough to support the increasing weight of traffic. In rural locations, the older buildings are not equipped to deal with the difficult environmental conditions, such as the persistent flooding and the rising, intense heat. Additionally, renovation and the development of infrastructure are essential factors that have a direct impact on the overall economic growth of the country. It is anticipated that this will work in the favour of the sector given that the number of renovation projects performed on public concrete structures is increasing on an annual basis.

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Report Scope

Report Attribute Details
Market Size in 2022 USD 361 Million
Projected Market Size in 2030 USD 750 Million
CAGR Growth Rate 9.51% CAGR
Base Year 2022
Forecast Years 2023-2030
Key Market Players 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.
Key Segment By Resin Type, By Fiber Type, By Product Type, By Application, And By Region
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Purchase Options Request customized purchase options to meet your research needs. Explore purchase options

Construction Repair Composites Market: Segmentation Analysis

The market for construction repair composites is divided into distinct submarkets according to the type of resin used, the type of fibre used, the product type, the application, and the area.

Epoxy, vinyl ester, and other types of resin make up the two main sectors of the global market, respectively. Epoxy is currently the resin that is used the most frequently to manufacture construction repair composites, which contributed to the tremendous increase that was seen in this sector of the business. It is common knowledge that epoxy resins have great adhesive qualities. In addition, they have a strong resistance to both chemicals and moisture, which makes them very well-suited for use in applications involving strengthening and repairing. Vinyl esters are yet another substantial contributor to the segmental share, and their uses in building repair composites are expanding. In particular, these esters are finding increasing use in areas of structures that require a high level of resilience to heat and chemicals. According to the statistics provided by India's Ministry of Road Transport and Highways, out of the total number of bridges that are now in use across the country, thirty percent are older than fifty years.

Carbon fibre, glass fibre, and other types of fibre make up the two primary segments of the building repair composites business, respectively.

On the basis of the product type, the global market can be broken down into the following categories: rebar, plates, textiles and fabrics, adhesives, mesh, and others. In 2022, the segment that was responsible for the biggest segmental share was the rebar segment. Reinforcing bars, more commonly known as rebars, have a wide range of applications in the building and construction sector. In particular, rebars are utilised in order to protect structures from failing and breaking. In spite of the fact that reinforcing bar cannot itself be categorised as a composite material, its usage in construction repair composites almost always occurs in conjunction with other types of composites. Significant amounts of cash can also be generated through the sale of plates or sheets composed of composite materials. The majority of them are constructed out of carbon fibre or fibreglass, and adhesives are used to attach them. According to a report that was released in September 2021 by the Australian Bureau of Statistics (ABS), the infrastructure industry was responsible for 5.5% of the country's Gross Domestic Product (GDP).

In the building repair composites sector, the various application-based divisions include water structures, residential structures, bridge structures, commercial structures, industrial structures, and silo flue pipes, amongst others.

The global Construction Repair Composites market is segmented as follows:

By Resin Type

By Fiber Type

By Product Type

By Application

Browse the full “Construction Repair Composites Market By Resin Type (Epoxy, Vinyl Ester, And Others), By Fiber Type (Carbon Fiber, Glass Fiber, And Others), By Product Type (Rebar, Plate, Textile/Fabric, Adhesive, Mesh, And Others), By Application (Water Structure, Residential, Bridge, Commercial, Industrial Structure, Silo Flue Pipe, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" Report at https://www.zionmarketresearch.com/report/construction-repair-composites-market

Competitive Landscape

Some of the main competitors dominating the global Construction Repair Composites market include - 

 Key Insights from Primary Research:

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Regional Analysis:

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.

The current government of the US led by President Biden has already proposed a future investment of USD 2.3 trillion that will be invested in infrastructure plans including upgrading the country's current architecture. Furthermore, the increasing number of players that are consistently investing in research & development to make construction repair composites more efficient and widen their applications could also lead to a higher growth rate. In Europe, the rising number of renovation activities on older structures to maintain the region's well-known concrete systems could lead to higher demand.

By Region

Recent Developments

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