The construction composites market is set to showcase significant expansion by 2028 on account of surging demand for lightweight and high-strength construction composites around the world. In addition, increasing effort to reduce maintenance costs for buildings and construction activities is likely to further fuel industry uptake over the forecast period.

Composite materials are widely used in the construction industry due to their numerous advantages, viz., lower construction cost, high specific strength, corrosion resistance, and low thermal conductivity. Mounting need for lowering construction costs has augmented market adoption in recent years.

Furthermore, industry participants have been implementing profitable strategies to tap into the emerging trends in the sector, which has supported the development of the overall construction composites market. For instance, in October 2021, Exel Composites Oyj, a leading manufacturer of tubes and composite profiles for industrial application, announced its strategic joint venture with Kineco Group, an India-based composites manufacturer. The joint venture was intended to expand business growth, particularly in major and fast-growing industries, including telecommunications, wind energy, and transportation.

To cite another instance, in March 2021, Fiberon, LLC, a key composite decking company, launched its novel Wildwood composite cladding, which features multi-tonal colors and nature-inspired embossing for better wood emulation. The product has been designed to provide high durability and low maintenance while offering high-performance benefits.

The construction composites market has been divided on the basis of application, product, and region. In terms of product, the market has further been categorized into metal composites, fiberglass, composite wood, and others. The metal composites sub-segment is anticipated to reach a considerable valuation by the end of 2028, progressing at a CAGR of more than 5% over the analysis timeline.

From the application point of view, the construction composites market has been segmented into industrial, residential, and commercial. The commercial sub-segment is speculated to grow at a robust pace through the assessment period to garner significant gains by 2028. Increasing government investments in developed and developing countries are likely to bolster segmental expansion over the forthcoming years.

On the regional spectrum, the North America construction composites industry is projected to develop at a CAGR of approximately 4.5% over the review timespan owing to substantial reduction in construction time. Moreover, recent technological advancements are speculated to foster regional market growth over the next few years. Meanwhile, the Middle East & Africa construction composites market is poised to surpass USD 6 billion valuation by the end of the estimated timeline.