Concrete Densification & Polishing Material Market Size

Concrete Densification & Polishing Material Market Size

Concrete Densification & Polishing Material Market Size was estimated over USD 300 million in 2018 and the industry will grow by a CAGR more than 5.5% up to 2025. Concrete Densification & Polishing Equipment Market Size was estimated over USD 1.5 billion in 2018 and is projected to observe growth more than 3.0% over the estimated timeframe.

Proliferation in construction activities in BRICS nations in the past years is analyzed to be a key propelling factor for entire concrete densification & polishing material & equipment market size. Over the past decade, BRICS nations have contributed to more than 50% of the global growth. Currently, the economic aggregate of these countries account for around 23% of the world's total. Infrastructure projects made a very big contribution to this achievement and these countries are using domestic reforms to trigger a new round of economic growth. BRICS consists of developing countries and all of which have faced the problem of slowing economic growth post-2014. For its part, China is undergoing an economic transformation as it pursues supply-side structural reforms, Brazil is promoting privatization, whereas India has also taken steps through structural reforms in its policies to attract FDI. This results in improvement of the ease-of-doing-business index in these countries.

Around 36% of the global population is concentrated in China and India. With such a huge population, the demand for homes, buildings, and infrastructure is significantly high. The global population is anticipated to increase by more than 1 billion in next 13 years, and 11.2 billion by the end of this century. This will be accompanied by rapid urbanization and these factors clearly indicate that the need for proper infrastructure and buildings for the urban population in the developing nations will increase in future. Currently, most of the industrial and commercial building constructors choose concrete flooring as one of the best option due to less maintenance, ease of cleaning, resistant to stains & damages and other features. This in turn, will lead to a substantial growth in concrete densification & polishing materials & equipment demand by 2025.