Self-compacting Concrete Market will generate USD 30.2 billion by 2024

Self-compacting Concrete Market share for viscosity agent design mix is anticipated to rise at over 4.5% CAGR in the near future. In this type, lower powder quantity is used which is approximately 350-450 kg/m3 which results in higher water/cement ratio and high water/powder ratio. It is characterized by modifying concrete structure at a microscopic level, enhancing viscosity and improving stability, but is preferred less compared to combination owing to its cost ineffectiveness.

Self-compacting Concrete Market size is poised to surpass USD 30.2 billion by 2024; according to a new research report by Global Market Insights, Inc. Strong product demand in North America which is attributed to rising drilling activities majorly due to growing oil & gas industry will make substantial contribution to self-compacting concrete market size by 2024. For example, according to World Oil, drilling activities in the U.S. will increase by 26.8% in 2017 and henceforth augmenting drilling wells count to 18,552. Product is extensively used in oil & gas industry mainly in drilling shafts, pipelines, etc. to recover reserves beneath the ground, or to set up pipelines for transporting crude oil/gas from one place to another which will make prominent contribution to the self-compacting concrete market size in the forecast timespan.

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High cost of raw material including admixture, fibers, etc. and restricted product use in infrastructure sector may hinder self-compacting concrete market size by 2024. However, better aesthetic value, low yield stress and reduced labor cost of product compared to conventional concrete will to generate growth avenues for self-compacting concrete market size by 2024.

Self-compacting concrete market for drilled shafts was valued over USD 2 billion in 2016. Product finds extensive applications in oil & gas, building & construction and infrastructure industry, etc. This technique is employed to avoid coarse aggregates congestion which lead to segregation of concrete inside and outside of the cage owing to its greater workability compared to conventional drilled shaft concrete which will make substantial contribution to self-compacting concrete market size by 2024.

Self-compacting concrete market for building & construction attained a major chunk of the overall industry share which was valued over USD 10 billion in 2016. Self-compacting concrete is extensively used in constructing buildings in commercial and residential sector owing to value added properties of product which includes low yield stress, aesthetic value, lower labor cost, etc. This technology does not require vibration to settle and maintains homogeneity owing to its high flowability and thus will make significant contribution to building & construction segment of self-compacting concrete market size by 2024.

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Asia Pacific self-compacting concrete market size attained the highest market size and was valued over USD 14 billion in 2016. This is mainly due to rapid industrialization and urbanization which is chiefly due to rising population pace which will drive construction industry in the region in the near future. Government has been forming policies under structural reform plans to implement large projects in order to improve the overall infrastructure in the region which will positively influence the self-compacting concrete market size by 2024.

Key self-compacting concrete market share contributors are Sika, BASF, Buzzi Unicem, Unibeton, Ultratech Cement, CEMEX, Breedon and ACC. Industry players are engaged in joint venture, acquisition and merger activities to improve its presence in the business. For example, in July 2010, Buzzi Unicem fully acquired Dyckerhoff, a German based company to strengthen its presence in Europe

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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This release was published on openPR.