The North American construction composites market is anticipated to showcase a considerable growth rate during the forecast period. The presence of a well-established chemical sector and considerable growth in investment regarding eco-friendly building and construction industry are the pivotal factors driving the North American construction composite market. As per the America Chemistry Council, in the US alone, the chemical industry registered a significant growth of 2.5% rise in 2019 and is projected to register a significant growth of 3.0% rise in 2020, despite this pandemic. Over the past few years, the North American construction industry has seen a wide range of new entrants. Alphabet (Google) has invested in Sidewalk Labs, a development company aiming to turn urban areas into smart and sustainable public spaces.
Considerable investment in the construction sector is expected to augment the demand for construction composites. In North America, the US is anticipated to hold a major market share in the regional construction composite market. The presence of key market players in the region is again contributing to the growth of the construction composites market in North American. The major players contributing to the North American construction composites market include Arkema Group, Mitsubishi Chemical Corp., BASF SE, Reichhold LLC, Koninklijke DSM N.V., and others. The key players in the market focus more on new product development and launches, partnerships and collaborations, geographical expansions, and innovative technological upgradations.
The construction composites market is segmented based on fiber type, resin type, and end-user. Based on fiber type, the market is segmented into carbon fiber, glass fiber, and other types. Carbon fiber is expected to hold considerable market share based on fiber type owing to high strength and low weight. However, the adoption of carbon-free composites in the countries of North America may restrain the growth of this market segment. Based on the resin type, the construction composites market is segmented into thermoplastic resin and thermosetting resin. Based on end-user, the market is segmented into residential, commercial & industrial.
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North American Construction Composites Market Segmentation
By Fiber Type
- Carbon Fiber
- Glass Fiber
- Other Fiber
By Resin Type
- Thermoplastic Resin
- Thermosetting Resin
By End-User
- Residential
- Commercial
- Industrial
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Regional Analysis
US
Canada
Company Profiles
- Allnex Netherlands B.V.
- AOC, LLC
- Arkema S.A.
- Ashland North AmericaHoldings Inc.
- BASF SE
- DuPont de Nemours, Inc.
- Eternal Materials Co., Ltd.
- Evonik Industries, Inc.
- INEOS AG
- Koninklijke DSM N.V.
- Mitsubishi Chemical Corp.
- PolyntSpA
- Qualipoly Chemical Corp.
- Reichhold LLC
- The Dow Chemical Co.
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