Pune, April 08, 2021 (GLOBE NEWSWIRE) -- Self-Healing Concrete Market Overview
The global self-healing concrete market is anticipated to grow at a stellar 34% CAGR over the forecast period (2020 - 2027), reveals the current Market Research Future (MRFR) report. Self-healing concrete, simply put, is a synthetically created type of concrete that possesses the unique ability to heal cracks and damage automatically. Intrinsic and extrinsic are their two different forms that have wide applications in various civil infrastructure, industrial, commercial, and residential.
Alluring Features that Spur Market Growth
As per the MRFR report, there are numerous factors that are propelling the self-healing concrete market share. Some of these entail the booming construction industry, growing demand for industrial, civil, commercial, and residential infrastructure, decrease in structural maintenance of buildings, growing demand for sustainable and eco-friendly construction with high endurance, and surging need for durable and reliable construction. The additional factors adding market growth include the increased life of civil infrastructure, reduced maintenance cost and ease of using the product.
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On the contrary, the high price of self-healing concrete and lack of awareness about self-healing concrete in different countries may hinder the global self-healing concrete market growth over the forecast period.
COVID-19 Analysis
The COVID-19 pandemic has already cast its spell on almost every industry, and the self-healing concrete market, too is no different. The outbreak has negatively impacted the construction sector during the second half of 2020 that has impacted the market growth. This virus has spread worldwide, with the world struggling against the outbreak as it has impacted different industries and also slowed down the economy. The construction industry has been profoundly impacted by the pandemic. The suspension of construction activities has resulted in delays in the construction project delivery, particularly in Singapore, India, and China that has caused a decline in the need for self-healing concrete in construction operations. Maximum cement production takes place in China. Supply chain disruptions owing to the spread of the novel coronavirus from China are also affecting the market growth. On the other hand, the halt in commercial construction projects like hospitals, medical centers, hotels, shopping malls, and office buildings has also cut down the need for self-healing concrete. However, post the lockdown period, construction activities are likely to resume that will, in turn, compensate for all the delays caused in the delivery of industrial, residential, and commercial projects that is likely to boost the self-healing concrete market growth.
Browse In-depth Market Research Report (107 pages) on self-healing concrete industry.
https://www.marketresearchfuture.com/reports/self-healing-concrete-market-7854
Market Segmentation
The MRFR report throws light on an inclusive analysis of the self-healing concrete market based on end use and form.
By form, the global self-healing concrete market is segmented into intrinsic and extrinsic. The extrinsic segment is further segmented into vascular and capsule-based. Of these, the capsule-based segment will lead the market over the forecast period. The ease to design admixture content, the ability to heal several cracks simultaneously and eco-friendly mechanism are adding to the growth of this segment.
By end use, the global self-healing market is segmented into civil infrastructure, industrial, commercial, and residential. Of these, the civil infrastructure segment will dominate the market over the forecast period. Various construction projects for dams, roads, and tunnels coupled with the need for durable civil engineering structures are adding to the growth of the segment.
Regional Takeaway
Geographically, the global self-healing concrete market is bifurcated into Europe, the Asia Pacific (APAC), North America, and Rest of the World (RoW). Of these, Europe will rule the market over the forecast period. Cost-benefit construction, growing interest in energy saving, rising environmental concerns, infrastructure upgrade, positive indications in public and private debt, growth of the construction industry, the presence of huge construction, and multiple research projects are adding to the global self-healing concrete market growth in the region. Western European countries such as Germany are making significant contributions to the market growth. The different projects that the government has undertaken, coupled with the superior supportive measures for its economy, are adding to the growth of the market. Other factors adding market growth include the adoption of technologically advanced systems in construction and awareness about the product benefits.
In North America, the global self-healing market is predicted to have promising growth over the forecast period. The presence of several multinational companies that deal with concrete products and related raw materials, investment in research and development capabilities, and product innovation are adding to the global self-healing market growth in the region.
In the APAC region, the global self-healing concrete market is predicted to have healthy growth over the forecast period. Growing economic prominence, high growth of the construction industry, growing needs of a growing population, the growing economic presence of India, China, Southeast Asian countries, and other countries, presence of a huge consumer base, abundant resources, low labor cost, and increasing per capita income of the middle class in India as well as China are adding to the global self-healing concrete market growth in the region.
In RoW, the global self-healing concrete market is predicted to have sound growth over the forecast period.
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Key Players
The notable players profiled in the self-healing concrete market report include.
- Fescon (Finland)
- CEMEX S.A.B. de C.V. (Mexico)
- Devan-Micropolis (Portugal)
- Sika AG (Switzerland)
- Basilisk (The Netherlands)
- Akzo Nobel N.V. (Netherlands), and
- Acciona, S.A. (Spain), among others.
The global self-healing concrete market is fragmented and competitive with the existence of many international and domestic industry players. They have encompassed multiple strategies to stay ahead and also suffice to the growing needs of the esteemed customers, such as collaborations, contracts, partnerships, joint ventures, and others. Further, they are also investing in research and development activities to strengthen their portfolios and also create a hold in the market.
Industry Updates
March 2021- Penetron has offered permanent protection for Jeddah Hotel Residence. Penetron Admix is specified in ensuring a durable and waterproof concrete foundation. The Penetron Group is one of the leading manufacturers of specialty construction products for floor preparation systems, concrete repairs, and concrete waterproofing. This Group operates through a network that is worldwide and offers support to the construction and design community through its distribution channels, representatives, and regional offices.
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