CHICAGO, Nov. 3, 2023 /PRNewswire/ -- The report "Carbon Fiber Construction Repair Market by Product Type (Rebar, Fabric, Plate), Application (Residential & Commercial Building, Infrastructure, Industrial), and Region (North America, Europe, APAC, Latin America, MEA) - Global Forecast to 2028", 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.
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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The carbon fiber fabric segment is expected to account for the largest market share in 2022, in terms of both value and volume.
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.
Residential & commercial building applications are expected to grow with the highest CAGR during the forecast period.
Carbon fiber composite products have a wide range of properties that make them ideal to use in the repair of residential projects across the globe. These properties include a high strength to weight ratio and anti-corrosion properties. Steel mesh is getting widely replaced by grids or sheets of composite fiber made carbon fiber composites, which are used in the inner as well as outer sections of concrete wall elements. The use of composite fiber sheets helps to decrease the overall weight of structural units and provides the needful chemical protection.
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North America is expected to account for the largest share in 2022
Carbon fiber construction repair is in high demand in the North American region due to its use in the repair of commercial, residential, bridges, silo-flue pipes, oil and natural gas pipelines, water structures, and industrial structures. Among the many repair projects driving the market of carbon fiber construction repair in North America are the Old Youngs Bay Bridge across Youngs Bay in Astoria, Oregon (US), Huntley Bridge Perry's Creek Bridge in Burleigh Falls, Ontario (Canada), and Teed Bridge Cumberland County, Nova Scotia (Canada).
Prominent companies in the carbon fiber composite repair market include SIKA AG (Switzerland), Mapei SpA (Italy), Fosroc Inc. (UAE), Master Builders Solutions (Germany), Critica Infrastructure (US), AB-SCHOMBURG Yapi Kimyasallari A.S. (Turkey), Dowaksa (UAE), Dextra Group (Thailand), Rhino Carbon Fiber Reinforcement Products (US), Mitsubishi Chemical Corporation (Japan), Toray Industries Inc. (Japan), Simpson Strong-Tie Company Inc. (US), Antop Global Technology Co., Ltd. (China), Sireg Geotech S.r.l. (Italy), and Chomarat Group (US).
Browse Adjacent Market: Fibers & Composites Market Research Reports & Consulting
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Construction Repair Composites Market - Global Forecast to 2026
Carbon Fiber Market - Global Forecast to 2032
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