|By PR Newswire||
|March 6, 2014 11:23 AM EST||
DUBLIN, March 6, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/bkmmfq/opportunities_for) has announced the addition of the "Opportunities for Composites in the North American Construction Market: Trends, Forecasts and Opportunity Analysis" report to their offering.
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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 growths 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, aluminium, 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.
This unique report will provide you with valuable information, insights, and tools needed to identify new growth opportunities and operate your business successfully in this market. This report will save hundreds of hours of your own personal research time and will significantly benefit you in expanding your business in this market. In todays stringent economy, you need every advantage that you can find.
Key Topics Covered:
1. Executive Summary
2. Construction Industry Background and Characteristics
3. North American Construction Market Analysis
4. Competitive Analysis
5. Trends and Forecasts
6. Emerging Applications and Materials
For more information visit http://www.researchandmarkets.com/research/bkmmfq/opportunities_for
Media Contact: Laura Wood, +353-1-481-1716, [email protected]
SOURCE Research and Markets