Rapid Strength Concrete Market - Segmented by Application, and Geography - Growth, Trends and Forecasts (2018 - 2023)
The global rapid strength concrete market is expected to register a CAGR of 5.05% during the forecast period, 2018 to 2023. Europe dominated the global market, accounting for almost 33% of the market share in 2017. The market is being driven by growing construction industry and advantages offered by rapid strength concrete such as ease of placing and low-time consumption.
Increasing Construction of Multi-storey and High-Rise Buildings
The high-demand construction projects are to be completed within a stipulated time, which is directly dependent on the drying or settling time of concrete. The rapid strength concrete plays a vital role in this case, in completing the projects with utmost strength, within a short time. With the increasing construction activities, the demand for such rapid strength concrete has been increasing. The construction industry is growing at a healthy rate, primarily in developing countries, such as India and China, owing to the industrialization resulting in rapid urbanization. This, in turn, is boosting the demand for commercial buildings, such as schools, offices, complexes and other industries.
The increasing trend of multi-storey buildings due to the rise in construction of hotels, service sector offices, multi-family culture, hospitals, etc., has been driving the demand for high-strength concretes across various regions.
Roads/Bridges -the Dominating Application Segment
The strength and long-term durability of roads and bridges are of main importance to avoid any damage or accident to the structure. Use of rapid strength concrete in such cases is of great help for the preservation and rehabilitation of roads and bridges and increasing the speed of construction. Saudi Arabia’s major initiatives concerning infrastructural development included white land tax initiative and transport infrastructure development plan in Riyadh. Under this, the government is focusing on the construction of 175 km of six-lane road and 85 stations; this is anticipated to be completed by the end of 2018. Such continuous progress is expected to drive the market through the forecast period.
In 2017, the roads/bridges application segment dominated the global market with a market share of almost 20%.
Asia-Pacific -the fastest growing market through 2023
Europe dominated the global market in 2017; however, Asia-Pacific is expected to be the fastest growing market through the forecast period, primarily driven by Japan and China. The Japanese construction sector remains positive in terms of short-term growth, due to the increasing demand, triggered by a sudden rise in residential construction and projects related to the Tokyo Olympics, 2020. The government of Japan is also constantly focusing on both long-term and short-term development plans. Besides, despite experiencing a volatile growth in the real estate market, China is experiencing significant development of rail and road infrastructure, all of which are expected to drive the market through the forecast period.
Key Developments in the Market
June 2017: BASF launched MasterEase admixture to support rapid construction growth in northern Vietnam
March 2017: EMEX Philippines introduced an admixture solution, Promptis concrete solution which is expected to provide superior strength to road construction
Key Players: Aggregate Industries UK LTD., LafargeHolcim, CEMEX S.A.B de C.V., Tarmac (CRH), BASF SE, Boral Limited, and Buzzi Unicem USA, amongst others.
Rapid Strength Concrete Market Report Summary
BASF launched MasterEase admixture to support rapid construction growth in northern Vietnam
Asia-Pacific, North America, South America, Europe, and Middle East & Africa
Aggregate Industries UK LTD., LafargeHolcim, CEMEX S.A.B de C.V., Tarmac (CRH), BASF SE, Boral Limited, and Buzzi Unicem USA, etc.
Reasons to Purchase this Report
Market definition, along with the identification of factors instrumental in changing the market scenario and prospective opportunities
Various market perspectives, with the help of Porter’s five forces analysis
Regions or countries that are expected to witness the fastest growth during the forecast period
Information about the application segment which is going to dominate the market over the forecast period
The latest developments, market shares, and strategies that are employed by the major market players
3 months analyst support along with the Market Estimation sheet (in excel).
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