Australia Composite Strengthening Systems Market Size & Outlook
Related Markets
Australia composite strengthening systems market highlights
- The Australia composite strengthening systems market generated a revenue of USD 2.8 million in 2023 and is expected to reach USD 4.4 million by 2030.
- The Australia market is expected to grow at a CAGR of 6.8% from 2024 to 2030.
- In terms of segment, fiber-reinforced polymer (frp) was the largest revenue generating product in 2023.
- Fiber-Reinforced Polymer (FRP) is the most lucrative product segment registering the fastest growth during the forecast period.
Composite strengthening systems market data book summary
| Market revenue in 2023 | USD 2.8 million |
| Market revenue in 2030 | USD 4.4 million |
| Growth rate | 6.8% (CAGR from 2024 to 2030) |
| Largest segment | Fiber-reinforced polymer (frp) |
| Fastest growing segment | Fiber-Reinforced Polymer (FRP) |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Fiber-Reinforced Polymer (FRP), Fabric-Reinforced Cementitious Matrix (FRCM) |
| Key market players worldwide | Simpson Strong-Tie Company |
Other key industry trends
- In terms of revenue, Australia accounted for 1.7% of the global composite strengthening systems market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China composite strengthening systems market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 46.4 million by 2030.
Fiber-reinforced polymer (frp) was the largest segment with a revenue share of 75% in 2023. Horizon Databook has segmented the Australia composite strengthening systems market based on fiber-reinforced polymer (frp), fabric-reinforced cementitious matrix (frcm) covering the revenue growth of each sub-segment from 2018 to 2030.
Australia has a significant amount of aging infrastructure, including bridges, buildings, and transportation networks, that require repair and rehabilitation.
For instance, the Department for Infrastructure and Transport is undertaking major refurbishment works on the Old Murray Bridge.
Old Murray Bridge is an important state heritage site and needs to be restored in order to maintain its structural integrity in the long term.
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Composite Strengthening Systems Market Scope
Composite Strengthening Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Simpson Strong-Tie Company | View profile | 1001-5000 | Pleasanton, California, United States, North America | https://www.strongtie.com |
Australia composite strengthening systems market size, by product, 2018-2030 (US$M)
Australia Composite Strengthening Systems Market Outlook Share, 2023 & 2030 (US$M)
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