There has been a new research report released by GMI. The reports forecasts that global Self-Compacting Concrete Market size will surpass USD 30.2 bn by 2024. Reportedly, through the deal, the self-compacting concrete market giant would get full proprietorship of ScotAsh. Experts claim this agreement to be highly strategic from Tarmac’s end. This is due to its long term plan of widening its customer base with cutting-edge products. It also taps into the superfluity of expertise from both the organizations. The pipeline of such innovative projects on-board has undoubtedly sent out waves of expectations in self-compacting concrete industry.
Self-compacting concrete market top 3 trends –
1. Expanding construction domain to drive self-compacting concrete market trends
Self-consolidating concrete has lately become an indispensable component in modern construction activities. This is because of its exceptional beneficiary features such as high segregation resistance and flowability. It is therefore quite indisputable that the growth in construction domain will leave a perpetual impact on self-compacting concrete market trends.
As per estimates, forecasts state that the overall construction spending will USD 13 trillion by 2023. This is almost double than what the figures recorded in 2015 (USD 7 trillion). The humungous figure itself is enough to draw a positive picture of the growth opportunities likely to drive self-compacting concrete industry size over the forecast period.
2. Introduction of innovative products to define the industry outlook over the forecast duration.
With increasing deployment of self-compacting concrete in constructional activities, the necessity of R&D investments to exploit the material’s fullest potential has become even more crucial. In fact, market giants have been showcasing a great deal of interest in diversifying their product portfolio in sync with the sustainability trends.
There is n absolutely fresh of the boat concept, dubbed as Eco-friendly self-compacting concrete or Eco-SCC. APAC and Europe self-compacting concrete market introduced this concept. They claim it posesses lower cement content. Allegedly, the product is already gaining a mass popularity across the construction domain. This is because they manufacture Eco-SCC by aggregate gradation.
In parallel to this, a plethora of driving factors including spreading awareness about sustainable buildings, green certification, and governmental standardization, collectively depicts that Eco-SCC, in all likeliness, would prove to be the next disruptive trend prevalent in self-compacting concrete industry space.
3. Rising construction projects across APAC to augment the regional market share
There are forecasts that slate Asia Pacific to be one of the most lucrative avenues for increasing self-compacting concrete industry size. This is due to the strong pipeline of constructional projects across major countries like China. Statistics depict, with China at the forefront, APAC belt will account for almost 60% of the overall construction expenditure by 2025.
Furthermore, stringent regulatory frame of reference governs the Asia Pacific self-compacting concrete market. It is enforced by authorized bodies that have implemented favorable policies under the structural reform plan. Pertaining to the massive industrialization and urbanization across the continent, APAC self-compacting concrete market share is expected to register commendable proceeds by 2024.
High raw materials price trends compared to its conventional counterparts. This is along with limited utilization of the product in the infrastructural domain. They are claimed to be the two major constraints deterring self-compacting concrete market penetration across some of the geographies. Nonetheless, renowned biggies will explore various opportunities and challenges of the business fraternity in the ensuing years. They will do this by investing in advanced technologies that not only ensures improved functionality but also competitive pricing.
Driven by the considerable developments on the product front in tandem with expansive application landscape, forecasts show that the self-compacting concrete industry will exceed a valuation of USD 30 billion by 2024.
Top key players in the self-compacting concrete market share are CEMEX and Breedon Group. Additionally, Sika AG, Tarmac Trading, Unibeton Ready Mix, BASF and LafargeHolcim are key players.
