According to a recent study from market research firm Global Market Insights, the rapid strength concrete market is set to grow from its current market value of more than $305.9 billion to over $424 billion by 2026, gaining remarkable traction over the 2020 to 2026 period.
The global rapid strength concrete market will witness tremendous gains over the coming years. This is due to the increasing focus on infrastructure development across numerous economies. Rapid Strength Concrete (RSC) is a specific kind of concrete that has the ability to gain strength quickly. In fact, RSC can obtain concrete strengths of more than 3,000 psi within as little time as two hours.
Because this concrete can obtain strength very quickly, users can remove the formwork more easily. Consequently, they can construct buildings more rapidly, saving tremendous amounts of time and costs. Additionally, it also allows the structure to become operational far quicker as compared to conventional methods.
The material boasts of widespread applications in road repair activities. This is because a road under repair only closes to traffic for a short time. Subsequently, it becomes operational within hours owing to the cement’s inherent ability to gain strength quickly.
The product also witnesses significant use in other infrastructure activities like haunching reinstatements. In addition, ironwork backfilling and commercial post/sign installations remain among other applications seeing significant use.
Three different segments
The overall rapid strength concrete market has three different segments based on strength, application, and regional landscape.
Based on strength, the market is further classified into From 0 to 40 Mpa, From 40 to 80 Mpa, and Above 80 Mpa. Among these, forecasters project the 0 to 40 Mpa segment will dominate the overall segment share over the forthcoming years. Rapid strength concrete below 40MPa held a prominent volume share of more than 60% in 2019. It is primarily for the use in the construction of slabs and pathways. In turn this will drive the segments growth during the forecast timeframe.
In terms of application, the rapid strength concrete market branches into roads/bridges, building/floors, tunnels, airfield, highway, and others. Among these, the buildings/floors segment expected to grow with more than 7.5% CAGR over the forecast time period in terms of volume. The rapidly rising real estate market for new buildings and commercial offices has contributed greatly to the segment’s growth. Forecasts show that this will create substantial demand for rapid strength concrete.
From a regional frame of reference, the Middle East & Africa rapid strength concrete (RSC) market is anticipated to witness tremendous gains over the coming time period. The region has a volume share of over 10% in the overall market. Increased spending on infrastructure projects will most likely boost the regional market share for rapid strength concrete in the projected period of time.
