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Self-compacting Concrete Market: Outlook and Opportunities in Grooming Regions 2018 to 2024

Self-compacting Concrete Market

Self-compacting Concrete Market

The self-compacting concrete market size is expected to exceed more than US$ 30.2 Billion by 2024; Growing at a CAGR of more than 5.3% in the given forecast period 2017 to 2024.

Robust demand for self-compacting concrete in the U.S. due to the increased drilling activities, which can be attributed to the fast pace of the petroleum industry will drive self-compacting concrete market during the forecast period. For example, as per World Oil, there would be an increase of over 27% in exploration & production activities in the U.S. Additionally, there would be a hike in drilling wells, which will reach over 18,500 in 2017. The product is mainly used in the petroleum industry in setting up pipelines, drilling shafts, etc., to acquire mineral deposits below the land or to transport crude oils/gas by setting up pipelines, which will positively influence self-compacting concrete market during the forecast span.

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Rapidly rising price of raw materials, such as fibers, admixtures, etc., and restrictions to use these products in the construction sector may hamper the self-compacting concrete market by 2024. Nevertheless, low labor cost, enhanced appeal, and low productivity stress of the product will drive self-compacting concrete market .

In terms of revenue, admixtures raw material segment accounted for approximately 50% of self-compacting concrete market in 2016. The contents of this admixture are hydrated lime, fly ash, slag, and silica fume. It also consists of chemical admixture that comprises viscosity adapting agents, superplasticizers, etc. These admixtures possess similar features as concrete and help in improving the concentration and strength of the common concrete, enhancing the concrete's overall performance. These trends are likely to make a prominent contribution to the self-compacting concrete market during the forecast period.

Viscosity agent segment of self-compacting concrete market was valued at over USD 4.5 billion in 2016. In this category, the amount of powder used is comparatively lesser, which indicates a high water to powder proportion. It helps in altering the concrete form at minute level and enhances stability and viscosity. However, it is used less in comparison to combination design mix due to its futile prices and comparable performance.

Drilled shafts application segment for self-compacting concrete market is anticipated to rise at a CAGR of over 4.5% by 2024. The product finds widespread applications across several end-user industries including infrastructure industry, construction, and petroleum, etc. The product is extensively used to avoid clogging due to coarse aggregates, which will lead to the isolation of concrete outside and inside the enclosure due to its improved workability as compared with the general drilled-shaft concrete. Its ability to impart superior performance will make a considerable impact on self-compacting concrete market during the forecast period.

The self-compacting concrete market by the building & construction segment is expected to rise at a CAGR of more than 5% over the projected time span. The product is widely applicable in the construction business, primarily in buildings in both residential and commercial sectors, due to its value-added advantages such as high productivity, low labor cost, and appeal value. Moreover, it doesn't involve vibration for settling and continues homogeneousness due to its high mobility and hence is likely to make a substantial input to the self-compacting concrete market.

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In terms of revenue, Asia Pacific accounted for over 70% market share of the overall self-compacting concrete market in 2016. It is primarily due to instant industrial development, which is primarily due to growing population, which will propel the construction sector in Asia Pacific. The government is presently making regulations under structural reformation plans for the application of large projects to expand the total construction in the area that would positively affect the self-compacting concrete market during the forecast period.

Main self-compacting concrete market shareholders are BASF, Sika, Unibeton, Buzzi Unicem, CEMEX, Ultratech Cement, ACC, and Breedon. The aforementioned companies are involved in acquisitions, mergers, and joint venture activities to advance its occurrence in the trade. For example, in July 2016, HeidelbergCement acquired Italy's Italcementi to create the world's second-largest cement group.

Related Reports:

Decorative Concrete Market: https://www.globenewswire.com/news-release/2019/12/16/1960717/0/en/Decorative-Concrete-Market-revenue-to-hit-USD-23-8-Bn-by-2026-Global-Market-Insights-Inc.html

Offshore Crane Market: https://www.globenewswire.com/news-release/2019/12/12/1959691/0/en/Offshore-Cranes-Market-to-hit-USD-5-Bn-revenue-by-2026-Global-Market-Insights-Inc.html

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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About Global Market Insights:
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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