Self-Compacting Concrete Market by Regional Outlook and Application Forecasts To 2024
Category: #headlines  By Rahul Varpe  Date: 2020-11-20
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Self-Compacting Concrete Market by Regional Outlook and Application Forecasts To 2024

As per estimates, the overall construction spending is forecast to cross USD 13 trillion by 2023, almost double than what is recorded in 2015 (USD 7 trillion). The humungous figure, itself is enough to draw a positive picture of the growth opportunities likely to drive self-compacting concrete market size over the forecast period.

Driven by the considerable developments on the product front in tandem with expansive application landscape, the self-compacting concrete market is forecast to exceed a valuation of USD 30 billion by 2024.

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Asia Pacific is slated to be one of the most lucrative avenues for increasing self-compacting concrete market size, given the strong pipeline of constructional projects across major countries like China. Statistics depict, with China at the forefront, APAC belt is forecast to account for almost 60% of the overall construction expenditure by 2025.

Asia Pacific self-compacting concrete market is governed by a stringent regulatory frame of reference enforced by authorized bodies that have implemented favorable policies under the structural reform plan. Pertaining to the massive industrialization and urbanization across the continent, APAC self-compacting concrete industry share is expected to register commendable proceeds by 2024.

Self-consolidating concrete has lately become an indispensable component in modern construction activities, pertaining to some of its exceptional beneficiary features such as high segregation resistance and flowability. It is therefore quite indisputable that the growth in construction domain will leave a perpetual impact on self-compacting concrete market trends.

Main self-compacting concrete market shareholders are BASF, Sika, Unibeton, Buzzi Unicem, CEMEX, Ultratech Cement, ACC, and Breedon. The aforementioned companies are involved in acquisitions, mergers, and joint venture activities to advance its occurrence in the trade. For example, in July 2016, HeidelbergCement acquired Italy's Italcementi to create the world's second-largest cement group.

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With increasing deployment of self-compacting concrete in constructional activities, the necessity of R&D investments to exploit the material’s fullest potential has become even more crucial. In fact, market giants have been showcasing a great deal of interest in diversifying their product portfolio in sync with the sustainability trends.

For instance, an absolutely fresh of the boat concept, dubbed as Eco-friendly self-compacting concrete or Eco-SCC has been introduced in APAC and Europe self-compacting concrete market that is claimed to possess lower cement content. Allegedly, the product is already gaining a mass popularity across the construction domain, pertaining to the fact that Eco-SCC is manufactured by aggregate gradation.

In parallel to this, a plethora of driving factors including spreading awareness about sustainable buildings, green certification, and governmental standardization, collectively depicts that Eco-SCC, in all likeliness, would prove to be the next disruptive trend prevalent in self-compacting concrete market space.

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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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