China Composite Strengthening Systems Market Size & Outlook
Related Markets
China composite strengthening systems market highlights
- The China composite strengthening systems market generated a revenue of USD 26.4 million in 2023 and is expected to reach USD 46.4 million by 2030.
- The China market is expected to grow at a CAGR of 8.7% 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 26.4 million |
| Market revenue in 2030 | USD 46.4 million |
| Growth rate | 8.7% (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, China accounted for 16.3% 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 79.17% in 2023. Horizon Databook has segmented the China 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.
Moreover, in 2022 the green construction plan was aimed to complete energy-efficiency refurbishments projects across more than 100 million m2 residential buildings and 250 million m2 in public buildings.
Composite strengthening systems influence the thermal performance of buildings by enabling the installation of additional insulation layers, along with reducing the dead load of the building.
Thus, the demand for composite strengthening systems are projected to reach USD 46.4 million by 2030.
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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 |
China composite strengthening systems market size, by product, 2018-2030 (US$M)
China Composite Strengthening Systems Market Outlook Share, 2023 & 2030 (US$M)
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