Smart Concrete Market Predicted to Rise at a Lucrative CAGR throughout 2016 - 2024

Smart concrete technology is a new alternative method for monitoring the health of reinforced concrete structures. It was developed Dr. Deborah D.L. Chung from State University of New York at Buffalo, U.S. The unique perceived benefit of smart concrete is that it is fortified by carbon fiber, which comprises as much as 0.2% to 0.5% of the volume. It can detect stress or strain in concrete structures before it gets too late. The smart concrete technology has undergone extensive laboratory testing, but is yet to hit the market.

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One factor slated to contribute to the global smart concrete market is the widespread use of concrete as a composite material for various types of structures and its inability to withstand tension, resulting in cracks easily. This necessitates monitoring them for cracks so as to prevent them from getting worse by timely repair. This, in turn, helps to ensure safety and durability of various structures. Other methods to evaluate cracks are by attaching or embedding sensors into structures. Sensors, however, cost more to install. Smart concrete is relatively cheaper. This is another factor that would likely drive its market.

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The supercharged growth in the smart buildings market in the upcoming years would also help in the quick uptake of smart concrete. This is because in addition to their basic functionality of detecting minor cracks, smart concrete also helps to arrest the progress of cracks in conventional concrete and reinforce them to make them stronger. Further, it takes a lot of force for smart concrete to bend, and it soaks more energy before fracture. Smart concrete can also have application in building highways for they would help in weighting vehicles plying on them. A highway constructed using smart concrete would be able to detect the position, weight, and speed of vehicles.

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The report studies the potential market for smart concrete by segmenting it based upon geography and then attempts to gauge the opportunity in each region. Advanced economies in North America and Europe, which have been at the forefront of adopting latest technologies, would likely emerge as prominent markets for smart concrete. Asia Pacific, powered by densely populated, emerging economies such as China and India where construction activities are being conducted full-throttle, also spells solid potential.

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