Dublin, Aug. 16, 2024 (GLOBE NEWSWIRE) -- The "Rapid Strength Concrete Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The rapid-strength concrete market is expected to grow at a compound annual growth rate (CAGR) of 7.65% during 2024-2029
Rapid Strength Concrete is a type of concrete that can gain high strength in a short period. The use of rapid-strength concrete takes place in road and bridge improvement projects. The quality of this concrete is determined by its ability to gain high compressive strength within hours and its ability to withstand corrosion. The deteriorating highway and other infrastructure conditions across many developed nations are a major concern for repairing it in a cost-effective manner and for long-term solutions. The demand for this concrete would expand owing to its benefits like versatility, long-term durability, and strength.
The major driving factor behind the demand for rapid-strength concrete is the massive investment and construction of the infrastructure in the developing regions of Asia and Africa. The growth of the economies in these regions would lead to the rapid development of housing and buildings in these regions. The leading countries in the world are heavily investing in large infrastructure projects such as metro transits, railways, airports, ports, etc. to increase their trade and supply chains. This rapid development would lead to an increased demand for raw materials in the construction projects.
- In 2024, Ethiopia's government planned to construct the US$6 billion airport which is combined with the current facility at Addis Ababa and would allow 125 million air passengers.
- Meanwhile, Rwanda would build a US$2 billion airport south of Kigali for handling of 14 million passengers and 150,000 tons of cargo a year. Qatar Airways is a major partner of the project.
- United Arab Emirates' infrastructure investment comprises US$132 million for social, USD$80 million for energy projects, and USD$83 million for unspecified infrastructure projects in the country. These developments in the infrastructure included disaster and climate adaptation, pollution reduction, low-carbon transition, environmental regeneration, and digital connectivity outcomes in upcoming years.
- In May 2024, the African Development Bank announced to invest US$1.44 billion to support infrastructure development in Nigeria, for the energy and power, transport, water, and sanitation infrastructure. It is estimated that Nigeria requires total infrastructure investments estimated at $2.3 trillion between 2020 and 2043.
RAPID STRENGTH CONCRETE MARKET DRIVERS:
Growing demand for construction activities
The construction and building industry worldwide shows significant expansion owing to rapid urbanization, growing developing economies, expanding global infrastructure for free trade and supply chains, and demand for critical infrastructure. According to the African Development Banks, Africa invests only 4% of the GDP in its infrastructure needs.
However, it requires more investment for the rapid growth in the economy, as the construction industry is a force multiplier in the economy. The need for hospitals, hotels, restaurants, houses, etc. is important for the development of a country. These not only provide overall support for the country in the long run but also employ skilled and unskilled workers in the economy, the growth of the sector determines the demand for the raw material applied in the sector.
The use of rapid-strength concrete becomes important as it provides the construction within a short period in case of construction work in emergency work. The use of rapid-strength concrete is also useful for reducing labor costs and non-operation expenses against regular concrete in terms of total expenses.
Increasing infrastructure projects
The infrastructural development is very significant in the development of nations around the world. Countries around the world are willing to put heavy investment in the making of affordable housing, energy, roads, rail, ports, airports, information and communication technology, and water and sanitation. These developments by the countries not only stimulate economic growth but also provide rapid employment in both the manufacturing sector and the construction sector.
In June 2023, the European Union announced that 107 transport infrastructure projects would receive over €6 billion in EU grants from the connecting European facility (CEF), these infrastructures would provide sustainable, safe, and efficient transport. This a significant project related to the Ukraine's support from the European Union.
The improvements in the present infrastructure and the making of new infrastructure needed raw material application and manpower demand. The rapid-strength concrete provides rapid construction of the roads, bridges, and other transportation infrastructure, and curtails the timing needed for lengthy closures. This application of rapid-strength concrete is essential in the application of infrastructure projects.
Rising applications for rapid-strength concrete:
The usage of rapid-strength concrete provides numerous advantages to construction projects while maintaining the speed and strength of the construction. One such significant project is done by the Holcim in Grayson County in North Texas with 12 major metropolitan markets, for the improved transportation systems. The Texas Department of Transportation initiated a rapid construction project for U.S. Highway 75 between the cities of Sherman and Denison. This project is for three years, involving main lanes, frontage roads, and U-turns, as well as ramps and bridges. The project team reached out to Holcim, for the ready-mix concrete. The team used RAPIDFORCE six-hour high-early-strength concrete for the pavement upgrades. For the project, Holcim produced and supplied 2,500 cubic yards of RAPIDFORCE concrete. This made the successful project delivery before the scheduled time.
Another such example is in December 2023, when Cemex announced it would supply 350,000 cubic meters of concrete, out of which 280,000 are special high-strength accelerated concrete for Bogota's First Metro Line project. This project would improve the lives of over a million daily commuters. Particularly for this project, Cemex's R&D team formulated a specialty concrete mix that can achieve double the strength in just eleven hours that traditional concrete achieves in one month. The company is monitoring through advanced technology, the concrete to measure its strength in real-time during pouring and hardening steps of the construction process. Cemex is a global construction materials company that offers cement, ready-mix concrete, aggregates, and urbanization solutions.
Any construction project has many challenges. When it comes to road and highway repairs, the requirement to minimize interruption to the flow of traffic is critical. The rapid setting and superior strength of concrete play a crucial role in cutting down concrete highway construction time.
Asia Pacific region to dominate the rapid strength concrete market during the forecast period.
The major countries in the region like India, China, Japan, Korea, and Australia, play a vital role in the rapid economic growth and industrialization in the region. Furthermore, countries of ASEAN, like Thailand, Vietnam, Cambodia, Singapore, the Philippines, and Indonesia, are having fast growth in the economy and increasing infrastructural development.
The overall infrastructure development is taking place at a rapid pace owing to the projects like Belt and Road initiative by China. The investment in the development of these infrastructure projects in the region is massive, such as, according to Infrastructure Outlook, India invested US$168 billion in the development of ports, US$13 billion in the development of the rails, and US$8.9 billion in the development of the water-related infrastructure.
The country is investing heavily in the development of road infrastructure, it had constructed 10,331 km of roads in FY23. Additionally, it has become the second-largest network in the world in the last ten years. Meanwhile, China started 120 projects of expressways and national and provincial highways in the year 2022. Total investment reached 182 billion yuan (about 27 billion U.S. dollars). These efforts would promote investment, and stabilize economic growth and employment.
Rapid strength concrete market challenges:
Lack of awareness in emerging economies is a major challenge for the growth of a rapid-strength concrete market. These materials can be easily accessible in large quantities once the project has been finalized in the place. However, acknowledging the need for these materials applicable in multiple projects is necessary as it needs technical knowledge. The rapid growth of the market in these regions would lead to easy availability of the rapid strength concretes.
Companies Featured
- Breedon Group plc
- CEMEX, S.A.B. de C.V.
- Heidelberg Materials
- Holcim
- SAMPYO GROUP
- UltraTech Cement Ltd.
- Vulcan Materials Company
- Westbuild Group
- Tarmac
- BASF
- CTS Cements
- Bostik
- Sakrete
- Sika Corporation
- Instarmac
- Evercrete India
- Sikes Concrete Inc.
Market Segmentation
By Material Strength
- 0 To 40 MPa
- 40 To 80 MPa
- Above 80 MPa
By End-user Industry
- Commercial
- Industrial
- Infrastructure
- Residential
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Rest of South America
- Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Middle East and Africa
- Saudi Arabia
- UAE
- Rest of the Middle East and Africa
- Asia Pacific
- China
- India
- Japan
- South Korea
- Taiwan
- Thailand
- Indonesia
- Rest of Asia-Pacific
For more information about this report visit https://www.researchandmarkets.com/r/k9beqb
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