PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1378211
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1378211
Scope of the Report | |
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Years Considered for the Study | 2021-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Units Considered | Value (USD Million), Volume (Kiloton) |
Segments | By Product Type, By Application, By Region |
Regions covered | Europe, North America, Asia Pacific, Latin America, Middle East, and Africa |
The carbon fiber construction repair market is projected to grow from USD 119 million in 2023 to USD 192 million by 2028, at a CAGR of 10.0% during the forecast period. Carbon fiber rebars, mesh, carbon fabric, and other products are widely used to increase the strength of old structures, such as bridges, water structures, historical structures, highways, and transportation structures across the world. Carbon fiber composite material has several advantages, including faster, easier, and less expensive installation and repair of structures because smaller cranes are required while working. They enable the delivery of large sections to construction sites, which reduces repair and assembly time and cost.
''In terms of value, carbon fiber plates accounted for the second largest share of the overall carbon fiber construction repair market.''
Carbon fiber composite plates have advantages over other conventional materials in terms of their low weight, corrosion resistance, and high tensile strength. Carbon plates are unidirectional strips of carbon fiber specifically pultruded and designed with a high-volume fraction of the fiber, which gives them high strength. Carbon plates are widely used in the repairing of industrial structures, commercial structures, bridges, and others. These plates also help to increase the strength of beams, walls, slabs, pipes, and pier caps during the repairing process.
"During the forecast period, the carbon fiber construction repair market in North America region is projected to register the second highest market share."
North America is one of the major markets for carbon fiber construction repair in the world. The market in this region is dominated by the US and Canada. The major players in carbon fiber construction repair in North America give each other tough competition and constantly innovate and develop new technology to produce high quality, high strength, and lightweight construction composites. These players adopt various growth strategies like expansions and new contracts & agreements to increase their market share and cater to the increasing demand. The usage of carbon fiber construction repair composites is high in the North American region as government agencies have identified the advantage of carbon fiber construction composites over traditional alternatives like steel rebars or mesh or plates.
Prominent companies include SIKA AG (Switzerland), Mapei SpA (Italy), Fosroc Inc. (UAE), Master Builders Solutions (Germany), Critica Infrastructure (US), AB-SCHOMBURG YapI KimyasallarI A.S. (Turkey), Dowaksa (UAE), Dextra Group (Thailand), Rhino Carbon Fiber Reinforcement Products (US), Mitsubishi Chemical Corporation (Japan), Toray Industries Inc. (Japan), Simpson Strong-Tie Company Inc. (US), Antop Global Technology Co., Ltd. (China), Sireg Geotech S.r.l. (Italy), and Chomarat Group (US), among others.
Research Coverage
This research report categorizes the Carbon Fiber Construction Repair Market by Product Type (Rebar, Fabric, Plate, Others), Application (Residential and commercial Building, Infrastructure, Industrial), and region (North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America). The scope of the report includes detailed information about the major factors influencing the growth of the carbon fiber construction repair market, such as drivers, restraints, challenges, and opportunities. A thorough examination of the key industry players has been conducted in order to provide insights into their business overview, solutions, and services, key strategies, contracts, partnerships, and agreements. New product and service launches, mergers and acquisitions, and recent developments in the carbon fiber construction repair market are all covered. This report includes a competitive analysis of upcoming startups in the carbon fiber construction repair market ecosystem.
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall carbon fiber construction repair market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.