U.S. Composite Strengthening Systems Market Size & Outlook
Related Markets
U.S. composite strengthening systems market highlights
- The U.S. composite strengthening systems market generated a revenue of USD 35.9 million in 2023 and is expected to reach USD 59.2 million by 2030.
- The U.S. market is expected to grow at a CAGR of 7.5% 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 35.9 million |
| Market revenue in 2030 | USD 59.2 million |
| Growth rate | 7.5% (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, U.S. accounted for 22.3% 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 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 77.44% in 2023. Horizon Databook has segmented the U.S. 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.
The country is witnessing increased investment in construction. The IIJA (Infrastructure Investment and Jobs Act) allotted USD 550 billion for the upgrade of infrastructure including bridges, roads, water systems, railways, and airports in the country.
Out of this, according to the White House, USD 280 billion was provided in the year 2023 for around 7,000 projects, with specifically USD 120 billion guided towards highways.
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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 |
U.S. composite strengthening systems market size, by product, 2018-2030 (US$M)
U.S. Composite Strengthening Systems Market Outlook Share, 2023 & 2030 (US$M)
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