Building Composites Market-Growth, Trends, COVID-19 Impact and Forecast (2021-2026) – QNT Press Release

[ad_1]

New York, December 23, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announced the release of the report “Construction Integrated Market-Growth, Trends, COVID-19 Impact and Forecast (2021-2026)”- https://www.reportlinker.com/p06192767/?utm_source=GNW
According to a report by the International Monetary Fund, global GDP contracted by -3.27% in 2020, mainly due to the suspension of international trade and supply chain disruption. In addition, the growth of the manufacturing industry in 2020 is showing a negative trend, with a decline of more than -10%. Therefore, it affects the production of construction materials in 2020.

Main highlights
In the medium term, the factors driving the growth of the studied market are the increased use of composite materials in construction applications, the restoration of old concrete structures, and other factors such as rapid urbanization, economic growth in major economies, and a firm commitment to green environmental protection . Building code.
On the other hand, the impact of the COVID-19 pandemic on the growth of the composites industry and supply chain disruption, as well as the high initial production and installation costs of composites, are hindering the growth of the studied market.
However, the construction industry’s ability to produce composite materials on a large scale continues to increase, which may create opportunities for the market in the next few years.
The North American region is expected to dominate the market. During the forecast period, the Asia-Pacific region may experience the highest compound annual growth rate.

Main market trends

Increased demand in the civil construction industry

Civil construction involves the construction of bridges, dams, roads, airports, canals, railway infrastructure and related buildings.
In China, towards the end of 2021, many provinces in China have announced major infrastructure projects in recent days. Last week, the Guangxi Zhuang Autonomous Region announced a number of major construction projects with a total investment of 185.9 billion yuan (29.15 billion US dollars). These projects cover a wide range of areas, including transportation, new energy, logistics and infrastructure.
In addition, China plans to expand its second-largest railway network in the world by a third in the next fifteen years as…

The full story on Benzinga.com

[ad_2]

Source link

Recommended For You

About the Author: News Center