Press Release / Business / Carbon Textile Reinforced Concrete Market Growth Potential & Forecast, 2019 – 2025

Carbon Textile Reinforced Concrete Market Growth Potential & Forecast, 2019 – 2025

Carbon Textile Reinforced Concrete Market size is likely to expand exponentially in the coming years due to rising developments in the global construction industry as the product is used to replace metal and concrete parts in buildings. Carbon textile reinforced concrete is a high-performance composite material which is known for its strength, flexibility, and corrosion resistance. This textile reinforcement provides high ductility and other superior properties to the composite material. The global construction industry spending reached around USD 11 trillion in 2018 from USD 9.5 trillion in 2014 and is likely to cross USD 14 trillion by 2025.
This growth in the construction industry would be majorly driven by U.S., China and India. These three countries are expected to account for more than 55% share in the global construction growth in the future. Outpacing GDP growth of Asia Pacific countries coupled with rising industrialization and growing population would be some reason behind their expected contribution in the construction growth in future. This would in turn increase the demand in the carbon textile reinforced concrete market.
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Rising demand for green initiatives in the construction industry will in turn increase the demand for the product. This is due to the product being more cost-effective option along with its lightweight characteristics. This helps in minimizing energy consumption, lowers carbon emission and helps in resource protection. Companies are increasingly investing in green construction projects due market drivers like client demand, environmental conservation and improving the health and well-being of the population. The number of LEED-certified construction projects in the United States increased from around 290 certifications in 2006 to more than 65,000 in 2017. Such rising trend in the green building industry would in turn augment the growth in the carbon textile reinforced concrete market.
The carbon textile reinforced concrete market is categorized based on application and region. Based on application, the market is segmented into buildings, bridge, road, and others. Building application is likely to attain a significant market share in the coming years due to the product usage in making sandwich panels, parking structures, facade, thermal walls, 2D & 3D reinforcements, etc. The global population has increased from 6.9 billion in 2010 to 7.6 billion in 2018.
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North America is a significant region in the global carbon textile reinforced concrete market. The major share would be occupied by the U.S. due to the size of its construction market. The construction spending in the U.S. in 2018 crossed USD 1.2 trillion, making it one of the largest construction markets worldwide. Positive trends in the residential market are the primary drivers of the booming construction industry growth. Hence, it is a significant market. Aging infrastructure has also become a serious concern in the U.S. and rising focus on updating infrastructure is expected. This would also result in rising demand in the market as the product is majorly used for repair activities.
Some of the players in the global market are Solidian GmbH, CarboCon GmbH, Weserland GmbH, Tradecc, Raina Industries Pvt Ltd, ADCOS NV, Hering Architectural Concrete, etc.
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