Global Construction Repair Composites Market - 2024-2031

Market Size

The Global Construction Repair Composites Market size was worth US$ 368.30 million in 2023 and is estimated to reach US$ 684.17 million by 2031, growing at a CAGR of 8.05 % during the forecast period (2024-2031).

Construction composites have a longstanding history of use in the global construction industry. Construction composites are a way of combining two materials to maximize the benefits of each. Construction composites are used to build and maintain a wide range of infrastructure worldwide, from buildings and bridges to roads and railroads. All across the world, construction composite materials are employed in building and construction projects.

Endurance, design flexibility, resistance to corrosion, strength and cheap maintenance are all advantages of construction composites. As a result, architects and builders are increasingly turning to construction composites. Construction composites have become the preferred material for various industrial applications, including pipe, tank, grating and equipment. Composite materials are increasingly being used to create sustainable business and residential structures because they require less energy and perform better.

Market Dynamics

The need for construction repair projects from diverse applications worldwide is driving the growth of the construction repair composites market. COVID-19 caused a drop in the demand for building repair composites in 2020. However, post lockdown the market started seeing growth as a recovery in the end-use industries started driving the demand.

The rising demand from the commercial end-use application

The commercial application is one of the fastest expanding construction repair composites market segments in volume and value. Offices, schools, universities and hospitals are used for construction repair composites. Construction composites are used in the structural engineering of non-residential building projects because of their prospective benefits and cost-effectiveness in repairing essential components of wind turbines.

During the projected period, the rising population and the requirement for commercial building repairs in Asia-Pacific nations such as China and India are expected to drive up demand for construction repairs. This application is projected to drive the construction repair composites market.

Development of glass & basalt fibers and low-cost carbon

Polymeric resins and fibers are the primary basic materials used to make carbon fiber, glass fiber and basalt fiber composites. The price of fibers is directly proportional to the price of the precursor raw materials used to make them. Polyacrylonitrile (PAN) is currently used to make carbon fibers and the cost varies depending on the usage. Precursor materials are also utilized to make glass and basalt fibers.

The development of low-cost, high-yield precursors for the production of industrial-grade fibers (carbon/glass/basalt) would drastically lower the cost of the fibers. The low-cost fiber precursors would lower the price of industrial-grade fibers. The cost of fibers would be reduced, lowering the cost of fiber composites and, as a result, the cost of producing construction composite products, which companies could then offer to consumers at lower and more affordable costs.

Higher costs compared to traditional substitutes

Traditional alternatives, which have been utilized for the same range of applications, are more expensive than construction composites. The cost of fibers significantly impacts the pricing of construction composites. Construction CFRP products are significantly more expensive than GFRP and BFRP products. The price of construction GFRP goods is lower due to the large-scale production of glass fibers to satisfy the increase in demand for glass fiber and GFRP products internationally. Composite products are employed in bars, rods, mesh, textiles and other materials in the building industry.

Because of the high cost of fibers, the products have a higher average price than traditional products. Higher prices for such products have a greater impact in many underdeveloped nations, as customers prefer more conventional options. Competing with more traditional options, such as steel or aluminum, will be challenging because construction composite goods are still not widely used, especially in emerging economies. With increased mass production and advancements in manufacturing technology, prices may fall.

COVID-19 Impact Analysis

Due to the COVID-19 pandemic, the construction repair composites industry saw a significant decline in 2020. The virus has created challenges worldwide, particularly in North America and Europe. Companies shut down their operations and production facilities to prevent the virus from spreading further. It had decreased the use of construction repair composites in various applications, including residential, commercial, silo flue pipe, bridge, oil & natural gas pipelines, water structure and industrial structure.

Segment Analysis

By product, the construction repair composites market is segmented into textile/fabric, rebar and others.

Rebar continues to remain the popular product

Rebar is a light fiber-reinforced polymer with good strength to weight ratio. Rebars are employed as a substitute for steel reinforcements in the construction industry because they are transparent to magnetic fields and radio frequencies, are thermally and electrically non-conductive and are chemically resistant.

Geographical Share

Growing commercial construction in Europe

Construction repair composites are mostly used in the region's commercial, bridge and water structural sectors. The use of construction repair composites for bridges, water structures, industrial structural and commercial applications is the second main factor driving the construction repair composites market in this area.

The market in Europe is being driven by rising composites penetration in the construction industry and goods with long shelf lives and low maintenance costs. The region's high standard of life encourages innovative and high-end infrastructures, which are expected to drive higher product demand during the evaluation period. Furthermore, durability, enhanced workability and reduced building time would boost regional demand.

Russia-Ukraine War Impact:

The disruption of supply chains for raw materials is particularly evident in the steel products sector, exacerbating the already strained steel market in the European Union (EU). Approximately one-fifth of the EU's steel imports originate from Ukraine and Russia. Since the onset of the war, Ukrainian steelworks have ceased production, and the EU has imposed a ban on steel imports from both Russia and Belarus. Additionally, the EU continues to enforce safeguards on certain steel products, such as reinforcing steel, making it challenging to compensate for the lost steel imports from Ukraine and Russia.

Moreover, there have been allegations of market manipulation during the current crisis by certain actors. Reports indicate that some material manufacturers have engaged in opportunistic behavior, withdrawing supply offers and further straining the market.

By Fiber

Glass

Carbon

Others

By Resin

Vinyl Ester

Others

By Product

Textile/Fabric

Rebar

Others

By Application

Residential

Commercial

Industrial

Others

By Region

North America

U.S.

Canada

Mexico

Europe

Germany

UK

France

Italy

Russia

Rest of Europe

South America

Brazil

Argentina

Rest of South America

Asia-Pacific

China

India

Japan

Australia

Rest of Asia-Pacific

Middle East and Africa

Key Developments

In September 2023, Parker Hannifin's Industrial Gas Filtration division introduced BHA(R) replacement dust cartridges for Donaldson Downflo(R) Evolution (DFE) collectors. These cartridges offer both cost savings and enhanced air-cleaning performance compared to the original DFE filters.

In August 2022, Eaton's Filtration Division showcased its filtration solutions for life sciences and industrial processing at ACHEMA 2022. Key highlights included the new BECO CARBON depth filter sheets, featuring integrated activated carbon, and the Simplex 72X pipeline strainers, which provide efficient filtration for various applications.

In April 2022, Woosh raised US$1.3 million in a pre-seed funding round to improve indoor air quality and HVAC (heating, ventilation, air conditioning) efficiency. The company launched on Kickstarter and anticipates delivering its consumer product during the fourth quarter of 2022.

Construction Repair Composites Market Competitive Landscape

The global construction composites industry has many manufacturers. Major global construction repair composites market companies include SIKA AG, Mapei SPA, FOSROC, Masterbuilder Solutions, Owens Corning, Strongwell, Galen LLC, Sireg Geotech S.r.l., Steklonit JSC and Chomarat Group.

Why Purchase the Report?

Visualize the composition of the construction repair composites market segmentation by fiber, resin, product, application and region, highlighting the critical commercial assets and players.

Identify commercial opportunities in the construction repair composites market by analyzing trends and co-development deals.

Excel data sheet with thousands of construction repair composites market-level 4/5 segmentation points.

Pdf report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

Product mapping in excel for the key product of all major market players

The global construction repair composites market report would provide access to an approx. 69 market data table, 63 figures and 213 pages.

Target Audience 2024

Construction Repair Composites Service Providers/ Buyers

Industry Investors/Investment Bankers

Education & Research Institutes

Emerging Companies

Construction Repair Composites Manufacturers