11 September 2018: Composite materials are used widely in the building and construction sector due to the various advantages offered by them over the conventional building materials. These lightweight materials offer strength, durability, as well as design flexibility allowing engineers, architects, and designers to create new, unique, and complex building structures eradicating the need for heavy and costly machineries. These factors further boost the speed of construction while reducing the overall project costs. Construction composites are usually created using carbon and glass fiber and find applications in residential, commercial, and industrial constructions.
Glass Fiber to Replace Carbon Fiber Due to Lower Costs
Fibers are the key raw materials used in the production of construction composites. In terms of revenue, the carbon fiber segment was the largest fiber type segment in the past. The segment is expected to grow further reaching at USD 4.40 billion by 2025. On the other hand, glass fiber or fiberglass are likely to replace carbon fibers expanding at a healthy growth rate of 7.5 % over the forecast period (from 2017 to 2025). This growth is attributed to the fact that these fibers are less brittle and much cheaper than carbon fibers. Glass fibers are created from fine fibers of glass.
These fibers have the highest breaking point and are comparatively easy to handle than other counterparts. Companies in this field focus on R&D activities to come up with environment-friendly, more effective, and cheaper composite. For example, AIMPLAS Plastics Technology Centre is participating in the project ECOXY, monitored by CIDETEC, for developing fiber-reinforced composites for construction, as well as automotive, industries. The objective behind this project is to create new epoxy resins for the construction sector that are economically competitive and environment-friendly.
Market Overview
A research report published by Grand View Research, Inc.; suggests that the global construction composites market is likely to reach at 7.6 billion by 2025. This growth is attributed to the rapidly expanding construction industry across various regions. In addition, high demand for more eco-friendly and low-maintenance products is also expected to fuel the demand for construction composites over the next few years. Fiberon LLC; Trex Company, Inc.; Fibrolux GmbH; and Strongwell Corp. are the leading market players.
In-Depth Research Report On Construction Composites Market:
https://www.grandviewresearch.com/industry-analysis/construction-composites-market
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