CONSTRUCTION COMPOSITE MARKET ANALYSIS
The construction composite market is estimated to be valued at USD 7.24 Bn in 2024 and is expected to reach USD 10.60 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.
To learn more about this report, request a free sample copy
Composite materials help reduce weight and improve strength in construction, increasing their appeal for residential and commercial building applications. Their corrosion resistance properties make them suitable for infrastructure projects as well. The construction composite market is expected to witness steady growth over the forecast period. Composites are increasingly being used in place of concrete and steel in buildings and structures due to their higher strength-to-weight ratio and non-corrosive properties. Growing infrastructure investment across major economies to boost economic activity in the wake of the COVID-19 pandemic will further drive the need for lightweight and durable composite materials in construction.
Demand for structural composites
The construction industry has been witnessing high demand for structural composites owing to their versatile properties and wide application areas. Composite materials such as Fiber Reinforced Polymer (FRP), Glass Fiber Reinforced Polymer (GFRP), and Carbon Fiber Reinforced Polymer (CFRP) composites are increasingly replacing traditional construction materials like concrete, wood, and steel in several load bearing applications. Composites offer superior physical and mechanical properties like high strength to weight ratio, resistance to corrosion, and weathering compared to conventional materials. Their light weight enables easy transportation and handling at construction sites.
Composites are highly suitable for structures that require low maintenance and minimal repairs such as bridges, rail infrastructure, commercial buildings, etc. The use of composite materials helps reduce reinforcement corrosion which is a major issue plaguing concrete structures. Fiber reinforced polymer rebars have higher tensile strength than steel and do not corrode even under severe weather conditions. This promotes longer service life of structures with lower maintenance costs. Composites also provide designers greater freedom due to their customizable properties support innovative designs that were not possible with other materials. Several highway authorities and public works departments are actively promoting the use of pultruded fiber reinforced polymer profiles for railings, sound barriers, and other applications requiring rugged maintenance-free structures.
To learn more about this report, request a free sample copy
Government initiatives and investments
Government policies and investments in advanced materials across major economies have pumped significant momentum into the construction composite market. Regulatory bodies in North America and Europe have allocated large funding towards research, demonstration projects, and innovation in infrastructure materials. Use of composite solutions is viewed as strategic both environmentally and economically. Many nations seek to replace outdated civic assets with low carbon alternative materials as part of their climate action plans.
Key Takeaways from Analyst:
Several drivers will support the increased demand for composite materials in construction applications. Population growth and urbanization are leading to new building construction across major markets. Composites allow for lightweight and durable structures that can withstand various environmental conditions.
Additionally, composites provide enhanced design flexibility to architects. Building codes are also gradually becoming more stringent regarding energy efficiency. Fiber reinforced polymer composites excel at providing insulation and are gaining acceptance. The Middle East and Asia Pacific regions in particular are predicted to see exponential construction needs that will spur composite materials use.
The construction composite market faces challenges from the higher costs of these materials compared to traditional alternatives like concrete and steel. Acceptance amongst builders may take time due to lack of familiarity. Strict regulations govern the fire resistance of composites used in infrastructure and buildings. Suppliers must overcome compliance complexities in various regions.
Market Challenges: High initial costs
Construction composites require significant capital investments to develop advanced manufacturing equipment and facilities to produce composites components at scale. This is a major deterrent for construction firms, especially small and medium enterprises, from adopting composites solutions for their building projects. The production of composites involves intricate processes like resin infusion and vacuum molding that require specialized machinery. Additionally, proper ventilation, dust collection, safety equipment and worker training are essential requirements for a composites fabrication facility which drives up capital expenditure. Composite materials themselves also carry substantially higher material costs compared to conventional construction materials like steel and concrete. All these factors contribute to a high total initial ownership cost and long payback periods for composites systems. Risk-averse construction firms tend to gravitate towards conventional materials that offer lower upfront costs.
Market Opportunities: Developing economies boosting infrastructure development
Developing economies boosting infrastructure development provides considerable opportunities for growth in the construction composite market. Countries across Asia Pacifc, Africa and Latin America are heavily investing in building new roads, bridges, rail networks, airports, and other infrastructure. Many governments see infrastructure development as a strategic priority and are committing large public funds for competitively tendered construction contracts. This provides a reliable demand pipeline for composite materials that are increasingly being used in modern infrastructure builds. Composites allow for lighter, stronger, and more durable structures that last longer compared to traditional materials like concrete and steel. Their use enables cost savings over the project lifecycle through reduced maintenance and repairs. Sectors like bridge construction have especially benefitted as composites can be prefabricated offsite into large modular segments and quickly installed.
To learn more about this report, request a free sample copy
Insights by Resin Type: Superior Properties are Driving the Polyester Resin Demand
In terms of resin type, polyester resin is expected to contribute 57.9% share of the market in 2024, owing to its superior properties. Polyester resin is cost effective compared to other resins, yet durable and easy to process. It offers high strength-to-weight ratio and corrosion resistance properties essential for the construction industry. Polyester resin constructions are known to withstand extreme weather conditions and perform well over long lifespan of infrastructure. The resin also allows for quick manufacturing cycles and higher production volumes, gaining popularity among construction giants. Its versatility allows use in diverse construction applications from wind turbines and bridges to pipes and transportation infrastructure. Growing demand for cost-competitive and durable construction materials is expected to further propel the polyester resin demand.
Insights by Fiber Type: Carbon Fibers are Emerging as Preferred Reinforcement Material
In the fiber type segment, carbon fibers is expected to contribute 33.3% of the market share in 2024 owing to their unmatched mechanical properties. Carbon fibers are lightweight yet very strong, and also do not corrode. They provide stiffness and strength that construction structures need to last for decades. Carbon fiber reinforcements enable designing lighter and sleeker structures without compromising on load bearing capacity. This is highly valued in modern infrastructure development focusing on sustainability. Carbon fibers are increasingly used in high-strength applications such as bridges and tunnels where safety is critical. Rapid adoption of advanced composite materials is expected to drive the demand for carbon fiber reinforcements in the coming years.
Insights by End-use Sectors: Housing Sector Leveraging Composites for Affordable Construction
In terms of end-use sectors, the housing segment is expected to contribute 34.4% share to the construction composite market in 2024. Housing developers are adopting composite materials to meet growing demand for affordable housing while maintaining structural integrity. Composites allow for quicker construction cycles and mass production of lightweight housing modules. Their durability also reduces long-term maintenance costs over concrete. Major attention is being given to composite paneling and framing systems that provide insulation and weather resistance. Various composites trials are underway to 3D print complete houses affordably. This is expected to disrupt the housing industry by leveraging composite materials for low-cost yet high-quality housing solutions.
To learn more about this report, request a free sample copy
North America has established itself as the dominant regional market for construction composites. The region is expected to account for 38.8% of the market share in 2024. This can largely be attributed to the region's well-developed construction industry and supportive infrastructure. Countries like the U.S. and Canada have a strong presence of leading composite manufacturers as well as major end-use industries like commercial and residential construction. Over the years, North America has witnessed rising adoption of advanced composite materials like Fiber Reinforced Polymer (FRP) in various infrastructure projects. Government incentives for the use of sustainable building materials and green building codes have encouraged contractors to use composites in place of concrete and steel. Moreover, North American construction composite producers maintain a wide distribution network within the region as well as internationally. They also actively engage in R&D to develop innovative product offerings.
Asia Pacific has emerged as the fastest growing regional market for construction composites globally. Rapid urbanization and infrastructure development activities across countries like China, India, and South East Asian nations are major demand drivers. These economies are witnessing large-scale investments in highways, bridges, mass transit systems, and commercial buildings. This has increased the consumption of composite materials for applications like signage, exterior paneling, and railings. China, in particular, has stepped up its infrastructure push under the Belt and Road initiative. Many new construction projects incorporate composite design elements to reduce costs and build efficiently. Local composite manufacturers are increasingly partnering with international suppliers to boost local production capacities. This will help reduce import dependence and meet the gigantic projected demand from the construction industry. Asia Pacific's growth is further aided by relatively cheaper labor and raw material costs compared to developed markets.
Construction Composite Market Report Coverage
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2023 | Market Size in 2024: | US$ 7.24 Bn |
| Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
| Forecast Period 2024 to 2031 CAGR: | 5.6% | 2031 Value Projection: | US$ 10.60 Bn |
| Geographies covered: |
|
||
| Segments covered: |
|
||
| Companies covered: |
Aegion Corporation, Exel composites, Gurit, Hexcel Corporation, Kordsa Teknik Tekstil AŞ, TORAY INDUSTRIES INC., Mitsubishi Chemical Corporation, Nippon Electric Glass Co. Ltd., Owens Corning, SGL Carbon, Teijin Limited., Fibergrate Composite Structures, Inc., Advanced Environmental Recycling Technologies, Inc., Fiberon LLC, Strongwell Corporation, Trex Company, Inc, Zhengzhou Yalong Pultrex Composite Materials Co., Ltd., Jiangsu Jiuding New Material Co., Ltd., and Fibrolux GmbH |
||
| Growth Drivers: |
|
||
| Restraints & Challenges: |
|
||
*Definition: The construction composite market consists of companies that manufacture composite materials for use in construction applications. Composites are becoming increasingly popular building materials as they are strong, lightweight, durable, and resistant to corrosion. Products in this market include fiber reinforced polymer rebars, beams, panels and other building components used in areas like infrastructure, commercial construction, and housing. The global construction composite market is driven by the need for sustainable and high-performance building materials that can help reduce costs and speed up construction timelines.
Construction Composite Market Report Snapshots
Frequently Asked Questions
Need a Custom Report?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports
Customize NowWant to Buy a Report but have a Limited Budget?
We help clients to procure the report or sections of the report at their budgeted price. Kindly click on the below to avail
Request Discount
Reliability and Reputation
9001:2015
27001:2022
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients
U.S.: 
U.K. : 
India :