The Asia-Pacific construction composite market is anticipated to showcase a considerable CAGR of 6.0% during the forecast period (2020-2026). In Asia-Pacific, the construction industry is on course to becoming the largest and fastest-growing industry across the globe. Due to the rapid increase in population across China and India, the demand for residential construction is expected to increase, which is likely to augment the demand for construction composites in the market. According to Asian Infrastructure Investment Bank (AIIB), in Asia-Pacific, the construction industry is expected to exhibit a growth of around 5.0% between 2015 and 2024, due to the rapid urbanization, presence of rapidly-growing economies, and intensifying infrastructural spending.
Browse the full report description of "Asia-Pacific Construction Composites Market Size, Share & Trends Analysis Report by Fiber Type (Carbon Fiber, Glass Fiber, Other Fiber) by Resin Type (Thermoplastic Resin, Thermosetting Resin) by End-User (Residential, Commercial, Industrial) Forecast Period (2020-2026)" at https://www.omrglobal.com/industry-reports/asia-pacific-construction-composites-market
The presence of international players has significantly increased in the market growth in Asia-Pacific, owing to the increased opportunities in the region, which has also caused an upsurge in demand for the construction of buildings, new offices, production houses, and more, in that way driving the growth of the construction industry, which is likely to drive the growth of construction composite market. According to the Building and Construction Authority (BCA), an agency of the Ministry of National Development, in 2020, the demand for overall construction is estimated to be in the range of $20.4 billion to $24.0 billion in Singapore. Such an increase in the construction contracts is further expected to create demand for construction composites in the region.
Market Coverage
Key questions addressed by the report
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected segment
Asia-Pacific Construction Composites Market Report Segment
By Fiber Type
By Resin Type
By End-User
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