The US construction composites market is anticipated to exhibit a CAGR of 3.9% 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 US construction composite market. According to the US Department of Energy, the US is the major chemical producer across the globe, accounting for nearly one-fifth of the world’s total chemical production. According to the associated general contractors of America, the construction industry is one of the major contributing sectors to the US economy. The US construction industry employs more than 680,000 employers. With a huge base of over 7 million employees, the US construction industry creates nearly $1.3 trillion worth of structures each year.
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The US 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 US 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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US 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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