Allied Market Research published a new report, titled, " Composites in Construction Market ". The report has offered an all-inclusive analysis of the global Composites in Construction market taking into consideration all the crucial aspects like growth factors, constraints, market developments, top investment pockets, future prospects, and trends. At the start, the report lays emphasis on the key trends and opportunities that may emerge in the near future and positively impact the overall industry growth.
The Composites in Construction market is expected to grow significantly in terms of volume during the forecast period. The increased demand from the ceramic industry, development of the nuclear power plants, and upsurge in the use of surface coating are expected to drive the market in the up https://www.alliedmarketresearch.com/request-toc-and-sample/15869 coming years. The development of the ceramic industry and accelerated use of tiles and granites in many counties drive the market growth.
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COVID-19 Impact Analysis
- At the beginning of 2020, the COVID-19 pandemic began to spread around the world. Millions of people worldwide are infected with the COVID-19 disease. The major economies in the world have issued permanent bans and orders to stop operations. Most life support industries have been hit hard, and the composites in construction industry has also been hit hard.
- Due to the lockdown in major parts of the world, the manufacturing unit faced lack of manpower for production work.
- Commercial buildings such as new buildings and renovations, infrastructure projects, highway construction and maintenance are experiencing a moderate decline. This construction work stopped at the beginning of the closure which make the market suffered from the outbreak of COVID 19.
- Housing construction has also encountered difficulties, especially indoor construction projects. Working from home and maintaining social distancing have had a huge impact on composites in construction market.
Market Trends
- In November 2020, MarBal Inc. of Chagrin Falls, Ohio, recently merged its AltraSet Composite Technologies company with Lattice Composites in Riverside, California. Through integration and consolidation, MarBal's composite technology will be expanded to include Lattice's special epoxy chemistry system, which provides a unique combination of polyester and epoxy composite materials.
- In September 2019, INEOS Enterprises had completed the acquisition of the entire composites business from Ashland Global Holdings Inc. which also includes a BDO facility in Germany.
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Applications:
- Infrastructure: Composites are increasingly being used in the construction of bridges, tunnels, and other infrastructure projects. The lightweight nature of composites reduces the load on supporting structures and foundations, contributing to overall project efficiency.
- Building Façades: Architects are turning to composites for building façades due to their versatility in achieving unique designs and patterns. Composite panels offer insulation properties, contributing to energy efficiency in buildings.
- Wind Energy: Composites play a crucial role in the construction of wind turbine blades. Their high strength and flexibility make them ideal for withstanding the dynamic forces experienced in wind energy applications.
- Piping and Tanks: In industries such as chemical processing and water treatment, composites are replacing traditional materials in piping and tank construction. The corrosion-resistant properties of composites enhance the lifespan and reliability of these structures.
Key Benefits of the Report
- This study presents the analytical depiction of the Composites in Construction industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Composites in Construction market share.
- The current market is quantitatively analyzed to highlight the Composites in Construction market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Composites in Construction market analysis based on competitive intensity and how the competition will take shape in coming years
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Key Players in the Composites in Construction Market:
- Strongwell Corporation
- UPM Biocomposites
- Advanced Environmental Recycling Technologies, Inc
- Woodward Inc
- Diversified Structural Composites
- Exel Group Worldwide
- Jiangsu Jiuding New Material Co. Ltd
- Trex Company Inc
- Mar-Bal Inc
- Construction Composites Limited
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