Wilmington, Delaware, United States, April 04, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global market for high-strength concrete is projected at US$ 661.6 Billion by 2031, up from $388.3 Million in 2022. Globally, the market is expected to grow at a 6.1% CAGR between 2023 and 2031. High-rise construction activities as well as smart city development are driving the demand for high-strength concrete in the market.
The availability of raw materials and advancements in concrete technology have contributed to the rise of high-strength concrete. With the growth of the population and the increasing construction industry, high-strength concrete has become increasingly popular because of its ease of use and benefits for the construction industry.
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IBIS World published an article in March 2022 that noted that the construction of bridges, tunnels, and subways in China has grown rapidly over the past five years, and revenue is expected to increase by 9.7% a year beginning in 2022. Regulation of the construction industry, particularly large-scale firms, along with preferential assistance to firms has resulted in a profitable industry.
The United States Census Bureau estimates that construction industry spending increased by 0.1% from May 2021 to 1 billion in June 2021. Approximately US$2.4 billion is to be invested in the building and maintenance of 45 airports in Brazil by the Brazilian Government. Indian government projects with an estimated value of Rs.750 billion have been sanctioned, increasing demand for high-strength concrete resulting from these projects.
Missouri S&T researchers are working on improving the speed, strength, and durability of 3D printing concrete for the U.S. Army Corps of Engineers. By developing 3D-printed fiber-reinforced concrete composites, researchers hope to improve the durability and safety of concrete. Soldiers can be protected more rapidly in volatile areas through temporary bridges, military barracks, guardhouses, bunkers, and blast-resistant shields. Two grants-funded projects are currently being conducted by an S&T researcher in this field.
Key Findings of the Market Report
- The demand for fresh mix concrete, high-strength concrete, is expected to remain high over the forecast period.
- Concrete with high strength is expected to be in demand for residential and commercial applications in the future.
- High-strength concrete's durability and resistance to corrosion are expected to boost sales.
- Low-cost and green technologies are increasingly being used to manufacture high-strength concrete market.
- Over 50% to 55% of the market is predicted to be controlled by the top few players by 2022.
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Global High Strength Concrete Market: Growth Drivers
- Concrete manufacturers around the globe use mixed design methods to create concrete mixes tailored to their customer's requirements. For further research and further development of green materials that will be incorporated into high-strength concrete on the market will grow in demand.
- Government policies and growing funding into infrastructure and research and development to further grow the market. For example, to create habitats and other structures like those on Mars, scientists are testing a variety of materials. Scientists at the University of Manchester have made a significant contribution to this field.
- Increasingly sustainable and potentially green composite materials, as well as the use of high-strength concrete in residential and commercial construction, are expected to create new opportunities in the near future for high-strength concrete.
- Precast concrete is gaining popularity among end users as the material science of concrete continues to advance and molds can be reused.
- Market participants will see an increase in sales due to the development of new commercial and residential buildings, along with the need for cost-effective construction materials.
Global High Strength Concrete Market: Regional Landscape
- With the growing number of construction activities in Asia Pacific, the Asian Pacific high-strength concrete market is expected to lead the global market.
- Regionally, China, India, Japan, and South Korea are anticipated to positively impact high-strength concrete.
- The Chinese government has aimed to reduce the impact on the environment by reducing the emissions of landfill gases and other waste products.
- Construction materials are expected to get more sustainable and recyclable in the region.
- A subsidy of approximately US$ 1.3 billion was provided by the Japanese government to build public infrastructure in 2019.
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Global High-Strength Concrete Market: Key Players
A detailed analysis of the concrete market research report includes profiles of key players based on several factors relating to company overviews, financial information, marketing strategies, product portfolios, and recent developments.
- In March 2023 Holcim announced plans to acquire the HM factory in Poland to expand its precast operations in the nation. The HM factory provided precast concrete solutions for CHF18 million.
- Walls, balconies, and staircases were among the solutions provided by the company. Holcim is expected to benefit from this acquisition by consolidating its position in residential and industrial construction.
Global High Strength Concrete Market: Segmentation
Type
- Ready Mix
- Precast
- Fresh Mix
Application
- Residential
- Commercial
- Industrial
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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