Market Size of Construction Composite Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 22.88 Billion |
| Market Size (2029) | USD 30.49 Billion |
| CAGR (2024 - 2029) | 5.91 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Construction Composites Market Analysis
The Construction Composite Market size is estimated at USD 22.88 billion in 2024, and is expected to reach USD 30.49 billion by 2029, growing at a CAGR of 5.91% during the forecast period (2024-2029).
COVID-19 negatively impacted the market in 2020 as the pandemic severely affected international trade and hampered several industries, including manufacturing, building, and construction. However, in 2021, the market demand from these sectors recovered significantly.
- Over the medium term, the factors driving the growth of the market studied are the increasing usage of composites in construction applications and the rehabilitation of old concrete structures.
- On the other hand, the high initial production and installation costs of composites, coupled with the inadequacy of skilled labor, are hindering the market's growth.
- Increasing the ability to mass-produce composites in the construction sector will likely create opportunities for the market in the coming years.
- North America is expected to dominate the market in terms of revenue while the Asia-Pacific region is likely to witness the highest CAGR during the forecast period.
