Canada Composite Strengthening Systems Market Size & Outlook
Related Markets
Canada composite strengthening systems market highlights
- The Canada composite strengthening systems market generated a revenue of USD 4.4 million in 2023 and is expected to reach USD 6.6 million by 2030.
- The Canada market is expected to grow at a CAGR of 6.1% 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 4.4 million |
| Market revenue in 2030 | USD 6.6 million |
| Growth rate | 6.1% (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, Canada accounted for 2.7% 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 North America, U.S. composite strengthening systems market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 59.2 million by 2030.
Fiber-reinforced polymer (frp) was the largest segment with a revenue share of 75% in 2023. Horizon Databook has segmented the Canada 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.
Increasing population, urbanization, and high rate of migration are driving the growth of construction sector in the country.
Canada also has the presence of high seismic zones, for instance, most earthquake-prone areas in Canada include Eastern Northern Ontario, Offshore BC Region, Southern Great Lakes, and Northern & Southern Cordillera.
Furthermore, according to seismologists, Canada faces on average four thousand earthquakes on yearly basis.
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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 |
Canada composite strengthening systems market size, by product, 2018-2030 (US$M)
Canada Composite Strengthening Systems Market Outlook Share, 2023 & 2030 (US$M)
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