Wilmington, Delaware, United States, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global market for ultra-high-performance concrete was estimated to have garnered a global market valuation of around US$ 412.0 million in 2022. The market is anticipated to grow with a steady 7.2% CAGR from 2022 to 2031 and by 2031, the market is likely to gain US$ 770.3 million.
Ultra-high-performance concrete (UHPC) has seen substantial growth due to the surge in environmentally friendly building techniques, as well as the inherent durability and eco-friendliness of UHPC. The UHPC's potential to increase structures' longevity and lessen their impact on the environment is becoming more widely known.
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Global Ultra-high-performance Concrete Market: Key Players
Few large-scale businesses control the majority of the market share for ultra-high-performance concrete on a worldwide basis. According to the most recent ultra-high performance concrete market prediction, businesses worldwide are spending a lot of money on extensive research and development projects, mostly to produce environmentally friendly goods. These businesses are deliberately working together to speed up product creation and boost sales.
Ultra-high-performance concrete's commercialization has increased market revenue generating even more, driving major businesses to increase their production in undeveloped regions, notably in emerging nations.
The leading companies in the world market include Lafarge, Vicat, CEMEX SAB de CV, ACC Limited, TAKTL, Sika Canada, ceEntek, Gulf Precast, CHRYSO UK Limited, Cor-Tuf, Freyssinet Limited, and Hi-Con.
Some developments by the key players in the global market for ultra-high-performance concrete market are:
- In 2022, researchers at the Indian Institute of Technology, Hyderabad, created a reasonably priced version of ultra-high-performance fiber-reinforced concrete (UHPFRC) that may be utilized to build infrastructure projects like bridges.
- CeEntek received funding from the Real Tech Fund, run by Real Tech Holdings Co., Ltd., in 2022 to create ultra-high-performance concrete made from carbon nanofiber. ceEntek is projected to play a significant role in lowering carbon emissions linked to the building sector in the near future by concentrating on creating stronger and more sustainable infrastructure.
Structures made of this material are guaranteed to withstand the test of time as well as environmental stresses due to the exceptional mechanical qualities of UHPC, which include high compressive and tensile strengths. Reducing the frequency of replacements and repairs results in less waste production and material consumption, which is in line with sustainability objectives and reduces the carbon footprint of various construction projects.
Key Findings of Market Report
- UHPC has benefits in addition to its mechanical qualities.
- Its ability to save maintenance costs and lengthen the lifespan of structures is consistent with rising nations' aims for sustainable development.
- UHPC enables faster building times and better aesthetics, which speed up project delivery and increase the urban landscape's overall aesthetic appeal.
- During the projected period, the high carbon steel category is anticipated to account for the largest share in terms of fiber type.
- In 2022, Asia Pacific held a significant market share for ultra-high-performance concrete worldwide.
Market Trends For Ultra-high-performance Concrete
- During the projected period, the high carbon steel category is anticipated to account for the largest share in terms of fiber type. High carbon steel fibers significantly increase the flexural as well as load-bearing capabilities of UHPC structures and provide remarkable tensile strength, which makes them a highly sought-after material for crucial infrastructure projects.
- Ultra-high-performance concrete (UHPC) has acquired a lot of popularity in recent years due to its inherent durability and eco-friendliness. People are becoming more aware of the UHPC's potential to increase structures' lifetime and lessen their impact on the environment.
- A structure made of UHPC will be able to survive time and environmental stressors thanks to its remarkable mechanical qualities, which include high compressive along with tensile strengths. In line with sustainability objectives, the decreased need for regular replacements and repairs results in less material consumption and waste production, lowering the carbon footprint of building projects.
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Ultra-high-performance Concrete Regional Market Outlook
- In 2022, Asia Pacific held a significant market share for ultra-high-performance concrete worldwide. The region is predicted to dominate the international market throughout the projected period, according to a research on the ultra-high-performance concrete sector. Asia Pacific market demand is being boosted by an increase in building ventures in India and China.
- Another desirable place for ultra-high performance concrete is North America. The market in the United States for ultra-high-performance concrete is being driven by an increase in spending on infrastructure development as well as building & construction projects.
- During the projected period, an increase in infrastructure development activities in Europe, particularly in Spain, Germany, and Denmark, is anticipated to boost market growth.
Global Ultra-high-performance Concrete Market Segmentation
- Fiber Type
- High Carbon Steel
- PVA
- Glass
- Carbon
- Others
- Application
- Wall and Ceiling
- Flooring
- Dome and Pillar
- Pavement
- Others
- End-use
- Residential
- Commercial
- Industrial
- Others
- Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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