Rapid Strength Concrete Market Estimated to Record Highest CAGR by 2024
Category: #headlines  By Rahul Varpe  Date: 2020-06-01
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Rapid Strength Concrete Market Estimated to Record Highest CAGR by 2024

Rapid strength concrete when added with small amount of water, acquires high resistance and compressive strength in a short span of its use. It is produced by carefully picking high quality materials and admixture. After the completion of mixture designing, it is placed, mixed, batched, cured and compacted to the highest industry benchmarks upon the sort of application. Product usage has several benefits such as removing of formwork at an initial construction process in minimal time and mending of road surfaces that becomes totally functional instantly after the completion of construction. This special and high-performance feature of the product will propel the rapid strength concrete market in the coming time frame.

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Increasing high-rise and multi-story construction operations across the globe will trigger the future growth and development of the rapid strength concrete market owing to its time-saving and higher strength advantages. Every government around the world is presently emphasizing on the use of environment-friendly construction materials, which would benefit the rapid strength concrete industry immensely.

The construction industry is facing a swift surge of development activities functioning all around the globe. Therefore, the industry needs high performance building materials such as rapid strength concrete to support this hike in construction. This product offers high performance and high resistance which acts as a strengthening material for the manufactured framework.

Growth Drivers: -          

  1. Revival of the U.S. and European construction industry
  2. New construction projects in the U.S.
  3. Rapidly growing building & construction industry in Asia Pacific

According to its strength segment, rapid strength concrete with compressive strength above 80 MPa has the major application in the pavement of highways and airfields because of its quicker drying rate and durable nature. This concrete would witness a high surge in its demand in India in the future due to the upcoming world bank funded highway projects in India. Various airfields, runways and airports are being constructed and renovated in various states in India which would boost the rapid strength concrete market till 2024.

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Rapid Strength Concrete Market By Application: -

  1. Roads/bridges construction
  2. Building/floors (residential, industrial and commercial)
  3. Tunnels construction
  4. Airfield construction
  5. Highway construction
  6. Others

Roads and bridges acquire more than 20% of the total rapid strength concrete market. Advanced development in the ongoing construction of roads and bridges in North America is going to propel the industry in the near future. Heavy construction activities for the repair and upgradation of bridges in the U.S. will considerably increase the rapid strength concrete industry by over 6% CAGR till 2024.

Rapid strength concrete is a recent technology in the construction industry, therefore the awareness about the product is considerably low which may act as a limiting factor for the industry growth. Nevertheless, growing high rise buildings and mega projects globally will fortify the rapid strength concrete market till 2024.

The key players in the rapid strength concrete market share are: -

Sika Corporation, Aggregate Industries, BASF, Boral Limited, Tarmac, Bostik, Sakrete, CEMEX, Perimeter Concrete Ltd, Westbuild Group, Short Load, Evecrete India, CTS Cements, Instarmac and Holcim Ltd. The aforementioned players are strategizing mergers and acquisitions with new and innovative products to increase the market efficiency. For instance, in April 2016, Sika Group acquired L.M. Scofield Company of Los Angeles, it's a concrete product producer to expand its product segment which will help boost company's development in the future.

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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