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Carbon Fiber Construction Repair Market worth $192 million by 2028 Globally, at a CAGR of 10.0 %, says MarketsandMarkets(TM)

Wednesday, November 29, 2023 03:00 AM | GlobeNewswire via QuoteMedia

Carbon Fiber Construction Repair Market worth $192 million by 2028 Globally, at a CAGR of 10.0 %, says MarketsandMarkets™

Chicago, Nov. 29, 2023 (GLOBE NEWSWIRE) -- The Global Carbon Fiber Construction Repair Market is estimated at USD 119 million in 2023 and is projected to reach USD 192 million by 2028, at a CAGR of 10.0% from 2023 to 2028, as per the recent study by MarketsandMarkets™. The aging infrastructure, government support for construction repair projects, and rapid urbanization are triggering the growth of the carbon fiber construction repair market. The high growth of construction repair composites can be attributed to the growing number of construction repair projects globally due to the rising population, rapid urbanization, and high economic growth in some regions. Emerging markets like China, the UAE, and Saudi Arabia are showing remarkable growth due to the aforementioned factors. Also, construction repair composites are much better alternatives to traditional substitutes, i.e., steel and aluminium. This has been a decisive factor in carbon fiber composite growth, especially in regions like North America and Europe, where the usage of construction repair composite products is quite high.

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Browse In-Depth TOC On "Carbon Fiber Construction Repair Market”

163 - Market Data Tables
49 - Figures
196 - Pages

List of Key Players in Carbon Fiber Construction Repair Market :

  1. SIKA AG (Switzerland)
  2. Mapei SpA (Italy)
  3. Fosroc Inc. (UAE)
  4. Master Builders Solutions (Germany)
  5. Critica Infrastructure (US)
  6. AB-SCHOMBURG Yapi Kimyasallari A.S. (Turkey)
  7. Dowaksa (UAE)
  8. Dextra Group (Thailand)
  9. Rhino Carbon Fiber Reinforcement Products (US)
  10. Mitsubishi Chemical Corporation (Japan)
  11. Toray Industries Inc. (Japan)
  12. Simpson Strong-Tie Company Inc. (US)
  13. Antop Global Technology Co., Ltd. (China)
  14. Sireg Geotech S.r.l. (Italy)
  15. Chomarat Group (US)

Drivers, Restraints, Opportunities and Challenges in Carbon Fiber Construction Repair Market:

  1. Drivers: High demand for superior performance materials.
  2. Restraints: High cost of carbon fiber.
  3. Opportunity: Growing demand from emerging markets.
  4. Challenges: Development of technology to reduce cycle time.

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Key Findings of the Study:

  1. The carbon fiber fabric segment is expected to account for the largest market share in 2022, in terms of both value and volume.
  2. Residential & commercial building applications are expected to grow with the highest CAGR during the forecast period.
  3. North America is expected to account for the largest share in 2022.

Carbon fiber fabric is a lightweight, high-strength material that is increasingly being used in commercial building repair. It is especially well-suited for repairing and strengthening concrete structures, which are the most common type of commercial building structure. It can be used to repair a wide range of concrete defects, including cracks, spalls, delamination, and corrosion. It can also be used to strengthen concrete structures to increase their load-bearing capacity or resistance to seismic forces. Generally, epoxy bonding is used to apply carbon fiber fabric to concrete surfaces. The fabric is first cut to size before being bonded to the concrete with a special epoxy resin. The epoxy resin cures to form a strong and long-lasting bond between the fabric and the concrete.

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Based on type, the carbon fiber construction repair market is segmented since bar, fabric, plate, and others. Fiber-reinforced composite materials (FRP) have been widely used in the field of engineering field in recent years to strengthen, repair, and renovate concrete, steel, and other material components. Carbon fiber fabrics are used in civil engineering as reinforcement technology. To form a composite body FRP, carbon fiber fabric is pasted on the surface of the structure or component with a resin-based bonding material. The goal of the collaborative work with the structure or component is to strengthen the structural component and improve force performance. This technology has superior mechanical properties, durability, and process performance.

Based on application, the market for carbon fiber construction repair is segmented based on residential & commercial buildings, infrastructure, and industrial. The infrastructure sector is estimated to be the dominant application in the carbon fiber construction repair market. Bridge rehabilitation, along with bridge strengthening and bridge repair, has become the most widely used application of carbon fiber products in the construction repair industry. Carbon fiber reinforcement is used to repair cracks in foundation walls and to reinforce the structural integrity of concrete walls that are bowed or cracked horizontally. Carbon fiber adds durability and stability to structures while also preventing wall cracks from expanding.

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MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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