Research and Markets: The North American Construction Market is Expected to Grow to $1,534 Million in 2018 with a CAGR Over the Next Five Years
DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/lhqdh6/opportunities_for) has announced the addition of the "Opportunities for Composites in the North American Construction Market 2013-2018: Trends, Forecasts and Opportunity Analysis" report to their offering.
“Opportunities for Composites in the North American Construction Market 2013-2018: Trends, Forecasts and Opportunity Analysis”
The composite materials market in the North American construction industry witnessed robust growth in 2012 due to recovery from the recession and the uptrend in the key market segments as compared to 2009 and 2010. The composites market is projected to continue its growth momentum and experience double-digit growth in 2013 and thereafter grow at a brisk pace until 2018. The market is expected to grow to $1,534 million in 2018 with a robust CAGR over the next five years.
As per the study, use of composite materials in construction has increased in NA due to several reasons. The main reasons are:
- Increased focus on product lifecycle costs of composite materials relative to competing materials
- Relative increase in costs of competing construction materials
- Newly implemented standards for newest applications (rebar)
- Greater focus upon energy efficient products (doors, windows)
As a competitor to traditional materials such as iron and steel, aluminum, and wood, composites have gained favour among Original Equipment Manufacturers (OEMs) and fabricators for superior performance.
The author estimates over the forecast period the leaders in terms of growth will be doors, windows, rebar baths, swimming pools, architectural applications, and gratings, all of which are projected to average a rate of growth above 6.0% annually. It is not projected that any market will show a five year decline during this period, however, some will show slow rates of growth including bridge deck, utility poles, and FRP panel. Because construction composites traditionally compete against steel, aluminum, wood and other relatively inexpensive materials, the segments compete on costs to a very high degree.
This report gives detailed insights into the North American Construction Market for composites materials with five years' trend (2007-2012) and forecast (2013-2018) perspective, and will help the interested companies to make strategic and financial decisions.
For more information visit http://www.researchandmarkets.com/research/lhqdh6/opportunities_for
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