Growing construction activities in the emerging countries due to massive government investments to improve public infrastructure will boost the construction composites market size by 2025. For instance, in India USD 2.4 billion project is currently in progress to build the Navi Mumbai International Airport that started in March 2015 and is expected to be completed till 2019.
Similarly, UAE has been making considerable investment in constructing ports which was valued approximately USD 24 billion for the Khalifa Port. Similar construction projects in the emerging nations are probable to make subsequent influence reinforced materials market for construction by 2025. Additionally, the durability, high strength and lightweight product properties will help in driving the construction composite market in the near future.
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Exel Composites’ recent takeover of Diversified Structural Composites has been lately hogging all the attention in construction composites market. Keeping in line with the competitive spectrum, Exel reportedly has penned down an agreement with Teijin Carbon America Inc., a subsidiary of globally acclaimed carbon manufacturer Teijin, in a bid to acquire 100% share of DSC.
The merger mainly centers around integrating DSC’s excellent pultrusion related technical know-how with Exel’s existing growth strategy. Incidentally, this would make the Finnish composite manufacturer the one and only pultrusion firm that has a significant presence in three other neighbor continents. Armed with an intent to strengthen its stance in industry space, Exel Composites is apparently planning to leverage DSC’s profitability into its supply chain.
Exel’s initiative is just one of the many strategies that construction composites market giants have been lately adopting to diversify the product landscape. Globally acclaimed manufacturers have been increasingly investing in the production of value added solutions that are highly customized.
Speaking of the extensive product spectrum defining construction composites industry, it would not be incorrect to say that the industry players have been garnering substantial profits from the sale of construction fiber glasses. Statistics claim that the global demand for fiberglass in the year 2016 was close to 10 billion pounds in terms of shipments, while the capacity was of valuation 11 billion pounds.
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Owing to some of its exceptional properties like high strength and light weight, construction glass fiber has become the go-to product for various electrical and thermal insulation purposes across industrial, commercial, and residential sectors. Add to it, considering the immense growth prospect of fiberglass based construction composites market, renowned construction players are also pouring hefty amount in its large scale production.
Given the fact that the business space mainly thrives on the changing trends of construction sector, the Asia Pacific turf substantially stands as one of the most opportunistic growth grounds of construction composites industry. China and India, two of the most advancing nations of APAC belt, are claimed to be the most prominent revenue avenues of the regional market. This can be possibly attributed to the extensive governmental investments across these regions to improve public infrastructure.
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