Global Composite Concrete Deck Market Report
Global Composite Concrete Deck Market by Deck Type (Proprietary System, Pre-Cast, and Site-Built), Thickness (1.5", 2", and 3"), Application (Residential and Commercial), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032
Composite Concrete Deck Overview
The market for composite materials used to make concrete decks is referred to as the construction sector that specializes in their creation, application, and use. For a variety of infrastructure, such as bridges, parking garages, elevated roads, and building floors, composite concrete decks are a common option. Compared to conventional concrete decks, they provide a number of benefits, including greater strength, longer durability, and less weight. Comparing composite concrete decks to traditional concrete decks, the former offer improved strength and durability. Concrete and composite materials, such fiberglass or carbon fiber, work together to increase load bearing capacity, improve corrosion resistance, and lengthen service life. They are therefore perfect for buildings that need to be long-lasting and high-performing.
The reduced weight of composite concrete decks compared to conventional concrete decks is one of their main benefits. By using composite materials, the weight of the deck as a whole is reduced, which can minimize the cost of both building and shipment. Longer spans and less stress on supporting structures are made possible by the decreased weight, allowing for more effective designs and building techniques.
Global Composite Concrete Deck Market Analysis
The global composite concrete deck market size was $466.5 million in 2022 and is predicted to grow with a CAGR of 6.6%, by generating a revenue of $833.3 million by 2032.
COVID-19 Impact on Global Composite Concrete Deck Market
Because of lockdowns, travel restrictions, and supply chain delays caused by the COVID-19 pandemic, construction projects all across the world were delayed. The installation and building of composite concrete decks were impacted by the temporary closure or delays of numerous construction sites. Investments in infrastructure slowed significantly in several areas as governments and businesses concentrated on containing the pandemic's immediate effects. Construction projects, notably those requiring composite concrete decks, were subsequently postponed or scaled back as a result.
As part of their strategies for economic recovery, governments and organizations are expected to give infrastructure investments priority. The need for composite concrete decks in various infrastructure projects, such as bridges, roads, and commercial buildings, may rise as a result of stimulus packages and funding programs targeted at reviving economies. The significance of resilient and sustainable infrastructure has been brought to light by the pandemic. Composite concrete decks, which are renowned for their resilience, toughness, and sustainability, fit with the expanding focus on resilient building techniques. The usage of composite concrete decks may be given priority in post-pandemic developments in order to extend the lifespan and performance of infrastructure assets.
Infrastructure Development to Drive the Market Growth
The demand for new commercial buildings, bridges, and other types of infrastructure is a major market driver for composite concrete decks. Construction of new infrastructure projects is fueled by growing urbanization, population expansion, and the need for effective and long-lasting construction solutions, opening up potential for composite concrete decks. Compared to conventional materials, composite concrete decks offer outstanding durability and lifespan. They are a popular option in tough environmental circumstances due to their resilience to corrosion, weathering, and wear and tear. The introduction of composite concrete decks is driven by the need for durable infrastructure as well as the desire for lower maintenance and lifetime costs. Traditional concrete decks can be replaced with lightweight composite concrete decks, which reduces the structural load and material requirements. This lightweight quality has benefits including simpler installation, more effective construction, and lower labor and transportation costs. Composite concrete decks' reduced weight is a key element in their widespread use in construction projects.
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Limited Awareness and Adoption to Restrain Market Growth
Despite the advantages provided by composite concrete decks, there may be a lack of knowledge and comprehension regarding these benefits and uses among contractors, architects, and engineers. Lack of understanding of the design, installation, and upkeep of composite concrete decks may prevent their widespread use in the building sector. Compared to more conventional materials, the initial cost of composite concrete decks might occasionally be higher. A greater overall project cost may be caused by the price of composite materials, manufacturing procedures, and specialized installation techniques. Some building projects may be constrained by this cost element, particularly those with limited resources or when cost reduction is of utmost importance.
Sustainable Construction Practices to Drive Excellent Opportunities
Composite concrete decks have more prospects as sustainable building techniques gain popularity. These decks have advantages over conventional concrete decks in terms of the environment, including a smaller carbon footprint, the utilization of recycled resources, and a longer lifespan. The market for composite concrete decks is anticipated to grow as sustainability becomes more important. Significant prospects exist for the composite concrete deck market as a result of rising infrastructure investments by public and private sectors. Demand for long-lasting and environmentally friendly building materials like composite concrete decks is fueled by the need for new bridges, motorways, office buildings and other infrastructure projects. The market for composite concrete decks may see new growth prospects as composite material, manufacturing, and construction technologies continue to progress. The performance and durability of composite concrete decks can be improved through material innovations such better composite formulations and reinforcement techniques. Automation and improvements in construction methods can also increase the effectiveness and affordability of deck installations.
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Global Composite Concrete Deck Market Share, by Deck Type, 2022
The site-built sub-segment accounted for the highest share in 2022. Composite concrete decks constructed on-site provide versatility and customization possibilities. Due to the on-site construction of the deck components, modifications can be made to meet particular project needs, including irregular shapes, different proportions, or distinctive design elements. Greater customization and adaptability to various construction projects are made possible by this flexibility. Construction sites no longer require the transportation of bulky prefabricated components thanks to site-built composite concrete decking. This may result in financial savings and fewer logistical difficulties when transporting and managing big deck portions. It is especially helpful for projects that are located in outlying regions or difficult-to-access locations. Composite concrete decks constructed on-site can be easily integrated with other on-site building procedures. This makes it possible to efficiently synchronize and coordinate with other structural components including columns, beams, and foundations. The ability to build the deck on-site promotes improved communication between various construction teams and guarantees a seamless construction process.
Global Composite Concrete Deck Market Analysis, by Thickness, 2022
The 3" sector accounted for the highest market size in 2022. The 3" composite concrete decks are made to be lightweight while still being load-bearing and structurally sound. As a result, they are appropriate for applications like raised decks, mezzanine floors and rooftop installations where weight reduction is a primary requirement. Utilizing 3" decks may assist in reducing the structure's overall weight and may bring down building expenses. In comparison to heavier deck choices, the somewhat thinner profile of 3" composite concrete decks may help with faster and more effective installation. The deck components can be easier to handle, place, and attach thanks to the lower thickness, which can speed up construction and reduce project duration.
Global Composite Concrete Deck Market Size, by Application, 2022
The commercial sector accounted for the highest market size in 2022. Composite concrete decks are ideal for commercial structures that need to handle big loads because of their superior load-bearing capacity. These decks are strong enough to support the weight of people, machinery, and other objects in a variety of commercial environments, including hotels, office buildings, malls, and healthcare facilities. Decks made of composite concrete are renowned for their sturdiness and lifespan. They are immune to corrosion, rot, and decay, making them perfect for commercial buildings that must withstand harsh weather and high foot traffic. Composite concrete decks have a long lifespan, which over time lowers maintenance and replacement expenses.
Global Composite Concrete Deck Market Growth, by Region, 2022
The North America composite concrete deck market generated the highest revenue in 2022. Infrastructure development, such as the building and repair of office buildings, bridges, highways, and public amenities, is a major priority in North America. Composite concrete decks are essential to these projects because they offer strong, long-lasting solutions for infrastructure requirements. Building regulations and standards are strict in North America, with a focus on structural integrity and safety. These requirements are satisfied by the exceptional load-bearing capacity, fire resistance, and longevity of composite concrete decks. The demand for secure, dependable structures and the requirement to follow these rules are what are driving the market's expansion. In North America, there is a strong emphasis on sustainability, and there is rising demand for environmentally friendly construction methods. Composite concrete decks fit perfectly with these sustainability objectives because they frequently use recycled components and have a long lifespan. The market has an opportunity in meeting the rising demand for environmentally friendly building solutions.
Competitive Scenario in the Global Composite Concrete Deck Market
Strategic acquisitions and partnerships and market penetration are key strategies opted by the operating companies in this composite concrete deck market. Some of the leading composite concrete deck market players are ASC Steel Deck, Prodeck-Fixing Ltd., Raised Floor Solutions Limited, Tata Steel, Structural Metal Decks, O’Donnell Metal Deck, LLC, A.C.T. Metal Deck Supply, Construction Metal Forming, TRUEDEK Steel Decking solutions, and Cordeck.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, and LAMEA
Segmentation by Deck type
Segmentation by Thickness
Segmentation by Application
Key Companies Profiled
Q1. What is the size of the composite concrete deck market?
A. The size of the composite concrete deck market was over $466.5 million in 2022 and is expected to expand at a CAGR of 6.6% to $883.3 million to 2032.
Q2. Which are the major companies in the composite concrete deck market?
A. TRUEDEK Steel Decking solutions and Raised Floor Solutions Limited are some of the key players in the global Composite Concrete Deck market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What are the strategies opted by the leading players in this market?
A. Strategic acquisitions and partnerships are key strategies opted by the operating companies in this market.
Q5. Which companies are investing more on R&D practices?
A. TRUEDEK Steel Decking solutions and Raised Floor Solutions Limited are the companies investing more on R&D activities for developing new products and technologies.