According to a market report published by Lucintel, the future in the global composites repair and rehab market for the construction industry is promising with opportunities in the civil infrastructure, existing and historic buildings, parking structures and others. The global composites repair and rehab market for the construction industry is expected to reach an estimated $190 million by 2024 with a CAGR of 4.7 percent from 2019 to 2024. The driver for this market is with the increase in seismic activities in North America and Japan regions resulting in major structural damages like old and obsolete buildings, bridges, highways, tunnels and parking structures.
In this market, different types of composites repair and rehab such as carbon fiber composite, glass fiber composites and others are used as fiber type. Lucintel forecasts that the carbon fiber composites is expected to remain the largest fiber type by value and volume due to cost, resistance properties and chemical stability.
North America is expected to remain the largest region by value and volume and is also expected to experience the highest growth over the forecast period due to growth in infrastructural repair and rehab.
Emerging trends, which have a direct impact on the dynamics in the composites repair and rehab market for the construction industry, include increasing bio and recycled content in repair and rehab of civil infrastructures. Aegion, Sika, Mapei, Simpson, Structural Technologies, Quakewrap and others are among the major composites repair and rehab manufacturers.
Lucintel, has analyzed and forecasted for the global composites repair and rehab market by application, fiber type, end use, and region and has come up with a comprehensive research report titled “Growth Opportunities in the Global Composites Repair and Rehab Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions.
For a detailed table of contents, contact Lucintel at (972) 636-5056 or email at [email protected].