The China construction composite market is anticipated to showcase a considerable CAGR of 6.8% during the forecast period (2020-2026). China has a well-established construction industry, with developments in the residential and infrastructural verticals supporting the growth of the construction industry on a large scale. In 2019, the government planned to increase infrastructural investment to ensure the stability of its sagging economy. According to the report presented in the annual session of the National People’s Congress, in March 2019, CNY 1.8 trillion ($261 billion) of investment was planned for road construction and waterway projects.
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Besides, the country also witnessed an increase in the approvals of infrastructural projects in 2019, which is expected to further increase infrastructural spending throughout the next few years. During the first nine months of 2019, the country’s infrastructural investment accelerated by 4.5%. The government has plans to accelerate its construction activities, more precisely in the infrastructural vertical, post the COVID-19 era, to recuperate from the economic losses the country had to face. The major cities and provinces across the country have already drawn up plans to make substantial investments of nearly $5 trillion shortly. The growth in the construction industry is anticipated to drive the growth of the construction composite industry in the country.
Market Coverage
Key questions addressed by the report
o Recovery Timeline
o Deviation from the pre-COVID forecast
o Most affected segment
China Construction Composites Market Report Segment
By Fiber Type
By Resin Type
By End-User