The unprecedented expansion of the global construction sector has certainly propelled rapid strength concrete market share in the recent years. The increasing demand for high quality material has led to contractors preferring cost and time-efficient products with commendable strength. Having conducted experiments to develop admixtures for achieving early compressive strength in concrete, construction experts have come up with technologically advanced high strength products. With fast-paced urbanization and rising infrastructural development, a holistic approach is being adopted to ensure speed in construction projects. For a large part, this trend has been extensively contributing toward impelling rapid strength concrete market trends.
In recent times, construction projects have become rather time-restrictive – an issue that is being resolved by deploying rapid strength concrete. The deployment is particularly intensive in APAC, where the construction sector has been riding high. It has been projected by the Asian Development Bank that within the next fifteen years, Asia Pacific will be investing $26 trillion in the construction sector. Asia Pacific and Middle East have witnessed phenomenal economic progress and a massive population rise in the last two decades. This has indeed made these regions viable growth avenues for rapid strength concrete market.
The phenomenal increase in the construction of high-rise buildings across the commercial, residential, and industrial sectors has been a major driving force for rapid strength concrete market. With the availability of concrete products ranging from 0 to 80 megapascals, more buildings are being constructed in lesser time without compromising on the quality. In 2016, rapid strength concrete market size from buildings had been estimated to be around $80 billion. Aided by heavy investments in real estate especially in developing countries, rapid strength concrete industry from buildings is expected to continue maintaining an upward growth trend.
This business space seems to have made commendable progress across the geographies of North America and Europe as well. The regional governments in these continents have apparently been focusing on the robust development of residential and commercial construction industry. Not to mention, investments are being made in the refurbishment of existing and new highways, airports, public parks, waterway systems, and dockyards too. Given that public infrastructure cannot be kept blocked for an extended period, these projects demand high quality, high strength concrete. This in consequence, has generated quite a demand for rapid strength concrete market in these regions.
Interstate highways constructed decades ago, as on today, are in dire need of repair and replacement. However, authorities are unable to shut down and reroute highways due to heavy traffic. In this regard, rapid strength concrete market has gained massive traction, since the product’s deployment enables pavements to be put back to use with the least delay and inconvenience. Additionally, the repair work has also been observed to be completed with perfection and adequate structure to last another couple of decades. On these grounds, rapid strength concrete industry size from highways is expected to witness 6.5% CAGR between 2017-2024.
By 2050, close to 70% of the world’s population has been estimated to dwell in cities. It is thus inevitable that the ensuing years would witness a major expansion in urban construction, that will propel rapid strength concrete market landscape. However, these cities will also be responsible for the deplorable increase of greenhouse gases in the atmosphere. Incidentally, cities occupy only 2% of the earth’s surface but produce 70% of the earth’s greenhouse gases. Keeping this aspect in mind many rapid strength concrete industry players have started to develop concrete that has a low carbon footprint.
Concrete products that lower CO2 emissions may cost significantly more than ordinary concrete. Heavy prices notwithstanding, rapid strength concrete market may stand to gain extensive proceeds, given that these products contribute toward time-efficient construction. In this regard, it has been projected that rapid strength concrete industry is projected to register a valuation of $450 billion by 2024.