High-Strength Concrete Market - Forecast(2023 - 2028)

High-Strength Concrete Market Overview

High-Strength Concrete Market size is expected to be valued at US$ 505.3 billion by the end of the year 2027 and is set to grow at a CAGR of 4.2% during the forecast period from 2022-2027. The increase in the construction activities of high raised buildings is majorly driving the demand for high strength concrete market. Certain types of high strength concrete such as reactive powder concrete is prepared by replacing ordinary aggregates of ordinary concrete with silica fume gel, quartz powder, steel fibers and others. This provides high compressive strength to the concrete. Additives such as superplasticizers are used in making high strength concrete that enables the production of concrete with less water content. This provides the high strength concrete a higher modulus of elasticity and high tensile strength. Therefore, this is majorly driving the high-strength concrete market.

COVID-19 impact

Amid the Covid-19 pandemic, the growth of high-strength concrete market drastically slowed down. The production of high-strength concrete reduced to a great deal which in turn affected the operation of the high-strength concrete industry and disrupted other activities such as marketing, supply chain management and sales of the companies dealing in high-strength concrete products, leaving the high-strength concrete top 10 companies in huge losses. Furthermore, restrictions on import and export activities due to the economic lockdown across the globe, affected the growth of the high-strength concrete market. However, the high-strength concrete industry is set to grow in terms of value by the year-end 2021.

Report Coverage

The report: “High-Strength Concrete Market – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the High-Strength Concrete Industry.

By Product Type: Ready-mix/Pre-mix concrete, Precast Concrete and On-Site.
By Types: High Performance Concrete and Very High-Performance Concrete.
By End-Use Industry: Residential Construction, Commercial Construction, Industrial Construction and Infrastructure.
By Geography: North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, France, Netherlands, Belgium Spain, Russia and Rest of Europe), APAC (China, Japan India, South Korea, Australia, New Zealand, Indonesia, Taiwan, Malaysia), South America (Brazil, Argentina, Colombia, Chile and Rest of South America) and RoW (Middle East and Africa).

Key Takeaways

• Asia-Pacific market held the largest share in the high-strength concrete industry owing to the increasing construction activities in countries like China, India and South Korea in the APAC region.
• One of the significant reasons contributing to the growth of the high-strength concrete market is the benefits provided by the reactive powder concrete such as high tensile strength and durability.
• Increased demand for high raise buildings is majorly driving the demand for high-strength concrete market.
• The covid-19 pandemic has affected the high-strength concrete market in terms of stock over piling which eventually led to the outdating of the inventories, causing huge losses to the high-strength concrete industry.
  
  

  FIGURE: Asia-Pacific High-Strength Concrete Market Revenue, 2021-2027 (US$ Billion)

  

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High-Strength Concrete Market Segment Analysis – By Product Type

On-Site concrete segment held the largest share in the high-strength concrete market in the year 2021. On site (fresh mixed) concrete comprises of additives such as superplasticizers, aggregates and admixtures such as silica fume gel, quartz powder, steel fibers and others. On site concrete is freshly prepared in the construction site as per requirements. This helps in preparing the exact and efficient ratio of cement, mixtures and water and aid in efficient management of resources and changes the production according to requirements, therefore eliminating wastage of material and time. Furthermore, this helps the users in reducing shortage or overage of production in reducing the overall cost of the construction. Therefore, this is driving the demand for high-strength concrete market.

High-Strength Concrete Market Segment Analysis – By Type 

High performance concrete segment held the largest share in the high-strength concrete market in the year 2021 and is growing CAGR of 4% during the forecast period 2022-2027. The strength range of high-performance concrete is around 50-100 Megapascal. High strength performance concrete such as reactive powder concrete is used in the construction of high raised buildings and infrastructure such as bridges, skyscrapers, monuments and others. This helps in giving fundamental strength to the structure and aid in increasing the lifespan of that particular building or infrastructure. This is driving the demand for high performance concrete.

High-Strength Concrete Market Segment Analysis – By End-Use Industry

Building and construction segment held the largest share in the high-strength concrete market in the year 2021 and is growing CAGR of 4.5% during the forecast period 2022-2027. According to Oxford Economics, the construction industry is estimated to reach US$8 trillion by 2025 which is a progressive sign for the building and construction industry. The increase in the construction industry is directly impacting the growth of high-strength concrete in terms of volume. The investments made by governments in the construction sector is also boosting the growth of the construction sector, such as India received Foreign Direct Investment worth of US$17.22 billion for infrastructure activities and US$25.78 billion for construction activities development during the year 2020. The Australian Federal Government announced US$1 billion worth of funding package for small scaled construction projects across Australia. This will further drive the high-strength concrete market and increase improve the high-strength concrete market share during the forecast period.

High-Strength Concrete Market Segment Analysis – By Geography

Asia-Pacific region held the largest share of 30% in the high-strength concrete market in the year 2021. Reactive powder concrete has a good scope for use in the Asia pacific region owing the increase in building and construction activities in countries like China, India and South Korea. For instance, in the Union Budget of 2020-2021 made by the Indian government, the government allocated US $6.85 billion (Rs. 50,040 crore) to Ministry of Housing and Urban Affairs. According to International Trade Administration, the public and private infrastructure and civil engineering services recorded a growth of 16.9% during the year 2020. The Japanese Government provided an annual subsidy of about US$1.3 billion towards the construction of public infrastructure during the year 2019. This is eventually contributing to the demand for high-strength concrete which is further expected to drive the growth of the high-strength concrete industry in the APAC region. The increase in construction projects and government schemes in the countries like China and India is driving the high-strength concrete market.

High-Strength Concrete Market Drivers

Increasing construction activities coupled with government investments is driving the high-strength concrete market

The recent developments in the construction industry where high-end buildings are constructed using modern technologies has led to the surge in the demand of high-strength concrete as it is extensively used in heavy engineered buildings such as skyscrapers, dams, bridges, flyovers, coastal engineering etc. According to Indian Brand Equity Foundation, the revenue of heavy engineering industry, which mostly uses superplasticizers and silica gel as aggregates, stood at US$92 billion in India alone during the year 2019, which is one of the biggest factors driving the growth and demand of high-strength concrete market. The UK government has come up with new policies related to infrastructure during 2019 which aims at increasing the National Productivity Investment Fund to US$35.4 billion (£31 billion). According to United States Census Bureau, the construction industry spending during June 2021 increased by 0.1% to 1 billion from May 2021. The Brazil Government planned new investments of up to US$2.4 billion for building and maintaining 45 airports in the country. Additionally, the government of India has sanctioned projects for Rs.750 billion in the construction sector, which is driving the construction sector which in turn is contributing to the increase in demand for high-strength concrete market. 

Superior properties like durability and anti-corrosion is likely to boost the demand for high-strength concrete market

The superior properties of reactive powder concrete such as high tensile strength and durability, high compressive strength, high strength, durability and high resistance to corrosion and other chemical reactions makes is one of the biggest drivers of the high-strength concrete market. High-strength concrete does not succumb to heavy weight and wind, even under extreme conditions and exposure, making it one of the best properties of high-strength. These superior qualities of high-strength concrete are also why it is known as reactive powder concrete. This is one of the major factors driving the high-strength concrete market. 

High-Strength Concrete Market Challenges

High cost of investment is a major challenge to the high-strength concrete market

One of the biggest challenges of high-strength concrete is the high cost of initial investment. It requires the installation of high-end machinery (such as applications like blending equipment and others) which increases the cost of operations. Small-time businesses and establishments cannot afford to invest so much for concrete, making them opt for normal concrete rather than high-strength concrete, which is one of the biggest challenges restricting the growth of the high-strength concrete market.

Slow and Controlled Release Pesticides Market Industry Outlook

1. LafargeHolcim
2. SIKA Group
3. BASF SE
4. Gulf Precast Concrete Co. L.L.C
5. Cemex Group
6. Vicat
7. UltraTech Cement Ltd
8. ELO Concrete
9. Heidelberg Cement AG
10. ceEntek Pte Ltd
11. Illinois Tool Works Inc.

Acquisitions/Technology Launches

• In 16 February 2021, ACC ready mix launched a low-carbon range of concrete; the Green Concrete for high-performing, sustainable and circular construction.
• In 22 December 2020, Technique Concrete, Arteon, Mandelli-Setra and Ideaplast merged and formed Tam Group. TAM Groupe expertly combines specialist manufacturing with a comprehensive portfolio of products for the concrete construction industry.

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Code: CMR 0142