Rapid Strength Concrete Market size is anticipated to reach USD 212 billion by 2027, according to a new research report by Global Market Insights Inc.
Rapid demand for restructuring and remodeling of aging infrastructure around the world will uplift rapid strength concrete industry growth. Furthermore, increasing spending in rail & road transport projects specifically in Asia Pacific and Latin American countries will drive the product demand.
The rapid strength concrete is commonly used in infrastructure projects propelled by its cost-effectiveness, high performance, and excellent operational abilities in reduced time compared to other materials. It also provides a considerable load-bearing capacity, which is likely to stimulate its adoption for various infrastructure projects including rail/road construction, bridges, tunnels, etc. Moreover, the rising need to minimize global carbon dioxide footprints to protect the environment will considerably contribute to the rapid strength concrete market share.
Get more details on this report - Request Free Sample PDF
Owing to support complex designs for better performance and high durability, rapid strength concrete is preferably adopted for quick repairing activities. The product has widespread applications in bridges, airfields, highways, tunnels, etc., to extend the service life period by developing anti-cracking ability and tensile strength to the system within a short time. However, fluctuating costs of basic raw materials will constrain business statistics.
Browse key industry insights spread across 200 pages with 170 market data tables & 28 figures & charts from the report, “Rapid Strength Concrete Market Size By Strength (0 To 40 MPa, 40 To 80 MPa, Above 80 MPa), By Application (Building, Infrastructure, Pavements, Concrete Roads), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2021 - 2027”, in detail along with the table of contents:
The recent COVID-19 pandemic has adversely impacted business growth due to temporary suspension of construction activities, shortage of workforce, and disruptions in raw materials supplies. Nationwide lockdowns and several trading restrictions to prevent the spread of coronavirus have restricted revenue generation. Nevertheless, rapid vaccination policies along with steady economic activities are firmly influencing the market revenue.
40 to 80 MPa concrete products are gaining popularity
Based on strength, 40 to 80 MPa concrete segment is poised to generate around USD 60 billion revenue by 2027 at a decent rate of 8.5% owing to rising commercial & civil constructions. Widespread product applications in structural beams, columns, etc., are constantly growing foothold in the marketplace. Furthermore, increasing demand for modern architectural building components and structural designs are expected to cater to the rapid strength concrete market demand.
Increasing demand for concrete pavements
Concrete pavements are estimated to grow at a CAGR of over 8.9% by 2027 led by high durability and significant weather resistance properties. Moreover, easy maintenance, low repairing costs, and development of compressive strength in a limited period will augment the segment demand.
North America to obtain a significant market share
The North American rapid strength concrete market is set to account for nearly USD 90 billion by 2027 impelled by rising infrastructure investments in the U.S. Ongoing mega construction projects, such as California High-Speed Rail Project, are predicted to cost above USD 77 billion, will further raise product demand. Additionally, rapid strength concrete is preferred over other construction materials for renovating and restructuring fast aging infrastructure across the region.
Energy-efficient and high-performance products will capture consumer attention
It is a high-potential market and key participants are engaging themselves in several business strategies to capture competitive advantages. Key market leaders are BASF SE, Sika Corporation, CTS Cement, Cemex S.A.B, and Tarmac.