Asia Pacific Composite Strengthening Systems Market Size & Outlook
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Asia Pacific composite strengthening systems market highlights
- The Asia Pacific composite strengthening systems market generated a revenue of USD 67.3 million in 2023.
- The market is expected to grow at a CAGR of 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.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 67.3 million |
| Market revenue in 2030 | USD 114.0 million |
| Growth rate | 8% (CAGR from 2024 to 2030) |
| Largest segment | Fiber-reinforced polymer (frp) |
| Fastest growing segment | Fiber-Reinforced Polymer (FRP) |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Asia Pacific region accounted for 41.7% of the global composite strengthening systems market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 114.0 million by 2030.
Fiber-reinforced polymer (frp) was the largest segment with a revenue share of 79.05% in 2023. Horizon Databook has segmented the Asia Pacific 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.
This growth is attributed to the growing infrastructural development in countries such as India, China, Japan, and Australia, rising awareness of the benefits of strengthening systems, and favorable government policies related to use of sustainable construction materials.
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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 |
Asia Pacific composite strengthening systems market size, by country, 2018-2030 (US$M)
Asia Pacific Composite Strengthening Systems Market Outlook Share, 2023 & 2030 (US$M)
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