The Global Rapid Strength Concrete Market was valued USD 354.8 billion and is projected to exhibit a CAGR of 7.70% over the forecast period from 2021 to 2030. The increasing construction activity in different developing economies in the Asia Pacific region are propelling market growth. Rapid strength concrete is commonly used in the construction of roadways across the world. This is because they develop high strength in a very short period after pouting, unlike conventional pouring.
Rapid strength concrete is also used as an alternative solution to various other types of concrete for preservation and renovation of the fast-aging infrastructure. The increasing number of infrastructural projects across the world will drive private and public investment in the construction industry for the projected timeframe.
The special emphasis on eco-friendly concrete is also anticipated to drive the overall product demand over the forecast period. The market is also driven by certain factors like increasing multi-storey as well as high rise construction activities and ease of placing of rapid strength concrete, government regulations on the use of environmentally friendly concrete materials.
On the other hand, the lack of product awareness in developing countries is anticipated to affect the market growth over the forecast period. Not only this but also the high prices of the rapid strength concrete in the developing countries are the other key restraints of the market.
TABLE 1: GLOBAL RAPID STRENGTH CONCRETE MARKET OVERALL SNAPSHOT
Impact Of COVID 19 On Global Rapid Strength Concrete Market
The coronavirus pandemic is affecting various industries. Although construction activity was continued for the short term, the construction work was moderately affected owing to the factors like shortages of subcontractors, supply chain disruption and termination of expense control contracts. Because of the pandemic, the government has prioritized its spending commitment with revised budget by focusing on recurring spending. These gaps had a negative impact on the annual short to the medium-term gap in the infrastructural investment which has impacted the overall demand for construction materials.
Segmentation
The global rapid strength concrete market is segmented into strength, application, and regions.
FIGURE 1: GLOBAL RAPID STRENGTH CONCRETE MARKET OVERALL SNAPS
Global Rapid Strength Concrete Market, By Strength
Based on the strength, the global rapid strength concrete market is segmented into 0 To 40 MPa, 40 To 80 MPa and Above 80 MPa. Among these, 0 to 40 MPa segment is projected to hold the largest market share during the forecast period. The housing demand is surging in developing economies like Indonesia, India, China, Malaysia, etc. owing to the rise in the population as well as improving socio-economic conditions due to which people can afford new houses. This is driving the construction sector, which has increasing requirement of 0 to 40 MPa concrete.
Rapid strength concrete has a compressive strength of less than 40 MPa and is used in applications such as floors, residential buildings, and flats. It's also commonly employed in the construction of walkways and slabs, which will boost segment expansion throughout the projection term.
Global Rapid Strength Concrete Market, By Application
Based on application, the global rapid strength concrete market is segmented into roads/bridges, tunnels, highways, airfields, and building/floors. Building/floors. Among these, the building/floors segment is expected to hold the largest market share owing to the high rise in the construction activities and ease of placing of rapid strength concrete. Infrastructure plays a crucial role in the economic development of the country and many developed economies spend huge investments on developing infrastructure projects on the buildings or floors.
Global Rapid Strength Concrete Market, By Region
Based on region, the global rapid strength concrete market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Among these, Europe is projected to hold the largest market share, which is supported by the growth in U.K., and Norway as compared to the previous years. According to the report published by World Highways, the road building market is estimated to witness the fastest growth due to the increasing number of road construction. The growing road construction in this region will be propelling rapid strength concrete demand over the forecast period.
TABLE 2: GLOBAL RAPID STRENGTH CONCRETE MARKET OVERVIEW
Recent Developments in The Global Rapid Strength Concrete Market
- February 2019: A new range of high early strength concrete was introduced by Aggregate industries (U.K.), which are designed for use in void fill, structural and trackbed applications.
- November 2017: Sika Corporation (Switzerland) acquired Butterfield Colour (Illinois) and with this acquisition, Sika Corporation (Switzerland) integrated their value chain.
FIGURE 2: GLOBAL RAPID STRENGTH CONCRETE MARKET (USD BILLION), 2021-2030
What Does This Report Provide?
This report provides a detailed understanding of the global rapid strength concrete market from qualitative and quantitative perspectives during the forecast period. The major market drivers, challenges, and opportunities for the global rapid strength concrete market have been covered in the report. This report further includes the market shares of the leading companies operating in the global market, along with their production capacities and the growth strategies adopted by them.
Market Segmentation:
By Strength:
- 0 To 40 MPa
- 40 To 80 MPa
- Above 80 MPa
By Application:
- Roads/Bridges
- Building/Floors
- Tunnels
- Airfields
- Highways
By Region:
- North America
- North America, By Country Type
- US
- Canada
- Mexico
- North America, By Strength
- North America, By Application
- North America, By Country Type
- Europe
- Europe, By Country
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest Of Europe
- Europe, By Strength
- Europe, By Application
- Europe, By Country
- Asia Pacific
- Asia Pacific, By Country
- China
- India
- Japan
- South Korea
- Australia
- Rest Of Asia Pacific
- Asia Pacific, By Strength
- Asia Pacific, By Application
- Asia Pacific, By Country
- Middle East & Africa
- Middle East & Africa, By Country
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
- Middle East & Africa, By Strength
- Middle East & Africa, By Application
- Middle East & Africa, By Country
- South America
- South America, Country
- Brazil
- Argentina
- Rest of South America
- South America, By Strength
- South America, By Application
- South America, Country
Major Companies: In this report, the major companies studied are Sika Corporation (Switzerland), Cemex S.A.B (Mexico), BASF SE (Germany), CTS Cement (U.S.), Tarmac (U.S.)
Objectives of this Report:
- To estimate the market size for the rapid strength concrete market on a regional and global basis.
- To identify major segments in the rapid strength concrete market and evaluate their market shares and demand.
- To provide a competitive scenario for the market with major developments observed by the key companies in the historic years.
- To evaluate the key factors governing the dynamics of the rapid strength concrete market with their potential gravity during the forecast period.
- To evaluate the leading company-wise pricing analysis for the mentioned applications.
Key Questioned Answered in the Study:
- What are major growth drivers and market trends that are impacting the global rapid strength concrete market?
- What is the market size both in terms of value and volume for the global rapid strength concrete market?
- Who are the leading market players and who are the new market players that operate in the global market with an estimated market share?
- What are the future investment pockets and opportunities in the global rapid strength concrete market?
- Major list of customers and potential futuristic customer list along with an estimated buying volume
- Impact of COVID-19 on the global rapid strength concrete market
Customization:
This study is customized to meet your specific requirements:
- By sub-segment
- By client-specific country, type, and application market analysis
- Pricing analysis along with the potential list of customers
- Product-specific competitive analysis
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