Concrete Cooling Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Poland, Belgium, Netherlands, Russia, Japan, China, India, South Korea, Malaysia, Sri Lanka, Brazil, Argentina, UAE, South Africa, Saudi Arabia), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1499
Concrete Cooling Market size is anticipated to witness significant growth during 2020 to 2026. Rising demand for concrete cooling in areas with warm climate in tandem with the growing need for high indoor air quality is likely to drive the market size in the upcoming years. In addition to this, the increasing construction of new dams is providing a significant boost to the overall market growth. In fact, according to numerous reports, more than 3,500 hydropower dams are being built and planned around the world.
Concrete cooling systems are extensively used in projects involving considerable amounts of concrete, with an intent of enhancing its strength.
The use of liquid nitrogen as a cooling agent, is emerging as a foremost trend for increasing concrete cooling market dynamics. Surging popularity of liquid nitrogen as an alternative for cooling the concrete has prompted concrete producers to switch to LN as a viable cooling method. Fundamentally, the concrete is cooled inside a ready-mix truck by direct injection of liquid nitrogen via Lance technology, which is further maintained at a temperature of -196 degrees Celsius in a uniquely designed storage tank which can endure cryogenic temperatures.
In terms of the application spectrum, concrete cooling industry is anticipated to gain hefty proceeds from highway construction. Governments the world over have been relentlessly working toward bettering infrastructure development and have been providing capital for the construction of roads, bridges, and highways. Concrete is considered one of the best materials for highway construction. It lasts longer and requires lesser maintenance, thereby saving time and costs. Increasing construction of highway pavements across developing and developed nations will augment the industry growth.
The Asia Pacific is one of the most promising investment destinations for concrete cooling industry players. This can be attributed to the expanding construction and infrastructural development sector. The governments of countries such as India and China have been making efforts to enhance the infrastructure of their nations via construction of durable highways, bridges, dams, etc. Increasing construction of ports, nuclear power plants, etc., will also boost the growth of the regional industry.
The global concrete cooling market share is highly consolidated and boasts of the presence of various key companies including KTI-Plersch Kältetechnik GmbH, Fujian Snowman, Coldcrete, Kirloskar Pneumatic Company Limited, North Star Ice Equipment Corp, Icelings, and Focusun Refrigeration Corp. Some of the other market players partaking in the industry are Dryvit Systems, NITROcrete, Concool, Recom Ice Systems, and others.
Contribution of these market players has a prominent role to play in the market expansion. The past few years have observed some of these companies undertaking various industry tactics to ensure that product innovation and company expansion and M&As stay inundated and so does their position in the global market. For instance, one of the leading exterior insulation and finish systems manufacturers, Dryvit Systems, in September 2018 announced the acquisition of prominent ICF distributor, Nudura Corporation. This acquisition lays emphasis on Dryvit’s commitment of offering an environment with labor saving, premium, and energy efficient building solutions to address the need for high performance building envelops.
A world leader in cooling concrete solutions, NITROcrete’s newly introduced technology has brought about a revolution in the concrete cooling business space. Apparently, the company has achieved its target to reduce the toxic carbon emissions by 83 per cent and emitted over 87 per cent less particulate matter.
Prevalent COVID-19 cases have brought about a severe disruption in the global economy as well as in some of the major business sectors. One of the sectors largely hit by this pandemic storm is the construction industry. Construction activities worldwide have come to a halt in wake of the ongoing coronavirus spread, given the enforcement of lockdown in various economies. This halt has resulted into an unbalanced supply to demand ratio, eventually subsiding the growth curve of overall concrete cooling industry.
However, post stabilization of the global economy, there are high chances that concrete cooling market would observe considerable growth in the upcoming years.
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