Pune, India, July 30, 2019 (GLOBE NEWSWIRE) -- The global self-healing concrete market was analyzed by Market Research Future (MRFR) and it was projected that a striking CAGR of 24% will be attained by the market over the forecast period of 2019 to 2024. The valuation of the self-healing concrete market was further stated to surpass its previous valuation by the end of the forecast period.
Self-healing concrete is developed with the primary objective of curbing down the cost of maintenance and improving the life of the construction structures. Self-healing concrete aids in healing the crack and reduces the maintenance cost subsequently, thereby boosting its high demand across the globe. Additionally, the growth of the construction industry is anticipated to majorly drive the global self-healing concrete market over the forecast period. Even though the market is growing at a significant pace, the industry participants are yet to experience market to penetrate in a booming manner.
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On the other side, the lack of awareness concerning self-healing concrete across various nations can strikingly dampen the overall growth of the market during the forecast period. Add to this, the high cost associated with self-healing concrete can be another major factor contributing to the decline of the global market in the coming years.
Competitive Landscape
The global self-healing concrete market comprises a host of key players. This includes names like Devan-Micropolis (Portugal), Basilisk (Netherlands), CEMEX S.A.B. de C.V. (Mexico), Acciona, S.A. (Spain), Akzo Nobel N.V. (Netherlands), Sika AG (Switzerland), and Fescon (Finland).
The global self-healing concrete market is at its foundling stage and comprises limited number of players across the globe. The players operating in the market are employing a number of key strategies to expand their globular reach and increasing share percentage in the market.
May 2019, Dutch-based biotech company, Green Basilisk, is taking the concept of walls and buildings healing themselves like human skin. The company is turning this into reality by inserting special limestone-producing bacteria into concrete.
Market Segmentation
The global Self-Healing Concrete Market has been segmented in terms of end-user and form.
By form, the market is divided into intrinsic and extrinsic forms. The extrinsic segment is broken down further into vascular and capsule based. The capsule-based segment held the highest share of the self-healing concrete market in 2018 and is expected to remain at the top of the rankings during the ongoing forecast period. The segment is experiencing considerable increase in growth due to its environment-friendly, ease to design admixture content, and the capability to heal multiple cracks, simultaneously.
By end-user, the market is broken down into commercial, civil infrastructure, residential, and industrial. The civil infrastructure segment enjoys the highest share of the global market. This is due to the number of construction projects for tunnels, dams, roads and an increasing need for durable and reliable civil engineering structures. Self-healing concrete is always preferred for the construction of civil infrastructure like tunnels and bridges and for reducing the maintenance cost in the long run.
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Regional Analysis
The global self-healing concrete market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and Rest-of-the-World (RoW).
Europe enjoys the highest share in the global self-healing concrete market and is projected to remain at the top in the forthcoming years. The growth of the regional market is due to a number of key factors. The increasing awareness among the consumers concerning the wide array of benefits of self-healing concrete is one of the key drivers of the market in this region.
The European region is followed up by the North American and Asia Pacific region. Both the region enjoys considerable share of the global self-healing market and is expected to maintain its ascension till the end of the forecast period. The growth of these regions can be attributed to the rising investments spent in massive construction and various research projects.
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