Increasing product adoption in infrastructure projects is ascribed to the several benefits offered by rapid strength concrete when used with ready mixed concrete, which is increasing its preference over conventional concrete. Benefits like faster construction time, enhanced service life of construction, improved site capacity, reduced concrete consumption, and creation of cost-efficient mix designs is increasing the rapid strength concrete market demand.
According to a research report, the rapid strength concrete market is likely to surpass a valuation of $424 billion by 2026.
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The global rapid strength concrete market is projected to observe substantial growth due to the increasing infrastructure projects across North America and the Asia Pacific. Rising demand for upgradation of the North America transport infrastructure and expanding housing market in the Asia Pacific due to population growth would augment product demand over the coming years.
Following are some of the prominent trends that would influence rapid strength concrete market outlook by 2026
Increasing demand for above 80 MPa rapid strength concrete
With respect to strength, the overall market is categorized into above 80 MPa, 40 MPA to 80 MPa, and 0 to 40 MPa. Of these, the above 80 MPa concrete strength segment is slated to observe significant revenue gains due to its use in the construction of airfields and highways. The increasing number of airfields and highways being constructed across the world would augment the segment share.
Citing an instance, India is planning to build 100 new airports over the upcoming five years, which is would offer lucrative growth opportunities for the market growth through the analysis period. Based on these factors, the market is projected to record a CAGR of about 6% over the forecast timeframe.
Rising construction of tunnels worldwide
In terms of application, the growing number of metro projects across the world has augmented the need for constructing tunnel, which is likely to drive market growth through the tunnels segment. Sprayed concrete is observing an increasing adoption as it is used extensively for the construction of permanent tunnel linings. Based on these factors, the segment is projected to hold a considerable demand share of about 13% by 2026.
Growing infrastructure development efforts across the Asia Pacific
The Asia Pacific rapid strength concrete market is projected to observe a tremendous revenue growth in the coming years due to the rapidly emerging economies across the region. A majority of growth is expected to come from countries like Malaysia, Indonesia, China, and India among others. These economies are increasingly focusing on developing their respective infrastructures, which would creative ample business growth opportunities for the rapid strength concrete industry players. Through these infrastructure efforts, the regional market is projected to expand at a CAGR of more than 8.5% in terms of volume through the forecast timeframe.
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Considering the increasing infrastructure activities throughout the globe, key market players are increasingly focusing on business growth strategies such as acquisitions and partnerships to effectively expand their regional business capabilities. Taking October 2019 for instance, renowned building materials company, Aggregate Industries, reportedly announced the acquisition of Maxi Readymix Concrete Ltd. Through this acquisition, Aggregate expanded its operational footprint within Leicestershire.
The competitive landscape of the rapid strength concrete market is inclusive of players such as Sika Corporation, Perimeter Concrete, Short Load Concrete Inc., Ltd., Bostik, Boral Limited, Sakrete, Aggregate Industries UK, and CEMEX among others.