Carbon Textile Reinforced Concrete Market Research Report 2025
As per credible estimates, carbon textile reinforced concrete industry is presumed to expand with 4.7% CAGR over the next five years to amass USD 26 million by the year 2025. Growing population and increasing infrastructural development have amplified the construction industry, which in turn is creating lucrative growth avenues for carbon textile reinforced concrete (CTRC) market. The product offers superior flexural strength, elasticity, and durability as compared to steel. Moreover, it is cost-effective and exceptionally versatile, hence is used extensively in the construction of bridges, buildings, and roads. Increasing emphasis on renovation and remodeling of existing infrastructure along with growing demand for durable and versatile construction materials which can withstand harsh environmental conditions and high pressure are driving the market growth.
Also, surging investments and favorable government regulations towards development of green infrastructure are further fueling the market expansion. Various market majors are focusing on R&D activities in order to develop innovative textile reinforced materials with better strength and durability. However, high costs associated with the product may hamper the growth of CTRC industry.
As per product type, the market is classified into regular-tow and large-tow. The regular-tow carbon textile reinforced concrete market segment is slated to grow modestly in the forthcoming years.
Based on the application spectrum, carbon textile reinforced concrete industry is bifurcated into road, bridge, building, and others. The bridges application is expected to grow significantly over 2020-2025. Technological advancements in carbon reinforced concrete has allowed for its use in construction of bridges. Various benefits including geometric efficiency, shorter construction phase, resistance to corrosion, water, chemicals, and frost, lightweight, durability, reduced maintenance cost, and aesthetic appeal among others are favoring the employment of CTRC in bridge construction.
As per regional analysis, global carbon textile reinforced concrete market is fragmented as Middle East & Africa, South America, Asia-Pacific, Europe, and North America with key contribution from Saudi Arabia, Brazil, Southeast Asia, Korea, Australia, India, Japan, China, Russia, France, Italy, UK, Germany, Canada, Mexico, and U.S.
Meanwhile, Asia-Pacific market is set to record a remunerative growth through 2025, primarily due to rapid urbanization and large population base in the region. Introduction of favorable government regulations which promote sustainable construction practices along with rising number of high rise buildings and skyscrapers in countries such as Japan, South Korea, and China have fostered the demand for carbon textile reinforced concrete materials in APAC.
The market majors operating in global carbon textile reinforced concrete industry are ADCOS, Solidian, Weserland, EPC, Sansom, Rezplast, Hering Architectural Concrete, Tradecc, Hanson, Liajia, FCS, and Jinaheng among others.