Rapid Strength Concrete Market Size - By Strength (0 To 40 MPa, 40 To 80 MPa, Above 80 MPa), By Application (Building, Infrastructure, Pavements, Concrete Roads), COVID-19 Impact Analysis & Forecast, 2021 - 2027

Rapid Strength Concrete Market Size

Rapid Strength Concrete Market size exceeded USD 122 billion in 2020 and is expected to progress at a rate of 8.2% from 2021 to 2027. Growing urbanization has continuously influenced urban construction activities in Latin America and Asia Pacific, which will foster industry growth. A shifting customer preference for modern architectures has considerably proliferated the need for rapid strength concrete for different functions including precast concrete production, urgent repairing works, concrete masonry, and cold weather concreting.
 

Robust growth in the building and construction industry will compel industry demand owing to surging investments for the restoration and prevention of fast aging infrastructures. The rising number of building & construction projects in Asia Pacific and Latin America impelled by rapid urbanization will boost the product demand. Furthermore, a steady growth of economies in emerging countries include India, Brazil, and South Korea are considerably contributing to the building & construction industry. Rapid strength concrete considerably minimizes energy consumption and wastages.
 

Moreover, the increasing urban population around the world has led to an upward surge in demand for low- & middle-income housing, especially in developing countries, driving market revenue. As reported by the World Green Building Council, about 60% of the global population, i.e., almost 4.3 billion people live in Asia Pacific, which has 16 out of 28 mega-cities globally. Many countries are actively investing in the residential dwelling market due to increasing income levels and changing lifestyles over the past few years.
 

However, the recovering social & public housing market in North America and Europe will positively impact the rapid strength concrete market outlook. Rapid strength concrete develops speedy strength after application coupled with significant resistance toward chemical attack, which will augment the industry revenue. The product also has a high load-bearing capacity and the flexibility of the product increases stability & decreases deflections to the structures.
 

Additionally, supportive government & state policies will influence the demand for rapid strength concrete through 2027. According to the Associated General Contractors of America, the U.S. creates about USD 1.4 trillion worth of structures every year. High efficiency and significant sustainability of rapid strength concrete are largely contributing to the industry expansion. Furthermore, high costs of final products and lack of product knowledge in emerging countries are likely to restrict market growth. However, many emergent nations are considerably dealing with the lack of proper infrastructure and shortage of technological advancements, which may suppress the market share.
 

Rapid Strength Concrete Market Analysis

Increasing demand for residential properties in developing countries, such as India, China, Brazil, Indonesia, etc., owing to rising population and changing socio-economic status will cater to the rapid strength concrete market share by 2027.
 

Rapid strength concrete with strength between 0 to 40 MPa is likely to cross around USD 115 billion by 2027 as it can offer prefabricated concrete construction with greater weather-resistance ability, significant strength, and resiliency. Moreover, a rising per capita income and favorable government policies, such as low mortgage rates, has soared the demand for residential dwellings in recent years, which will eventually fuel the industry size.
 

Building application exhibited a considerable share of above 53% in the rapid strength concrete market in 2020 on account of extensive applications in construction activities. Factors including versatility, flexibility, and high-end performance create scopes for residential applications that will gradually contribute to the market demand. In addition, increasing demand for energy-efficient, economical & low-maintenance buildings will gradually enhance industry demand in developed cities.
 

Europe rapid strength concrete market size is poised to cross USD 60 billion by 2027. A steady industrial development along with increasing spending on the building & construction sector will propel the product adoption across the Europe. Rising infrastructure projects led by stable economic growth will spur the regional real estate business. Major road construction projects in the region will further augment demand. For instance, the European Commission announced to support large infrastructure projects under the European Fund for Sustainable Development through an estimated amount of over USD 150 billion by 2027, which will influence the overall market share.
 

Rapid Strength Concrete Market Share

Key industry participants are strategically investing in capacity expansion with mergers & acquisitions to expand their global footholds. In November 2021, Sika AG announced to acquire MBCC Group to strengthen its global presence by expanding its product & solution offerings. In addition, market leaders are investing in capacity expansion and facility upgrades to improve their profit margins. Key players in the market are:

• BASF SE
• Sika Corporation
• CTS Cement
• Cemex S.A.B
• Tarmac.
   

This market research report on rapid strength concrete includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion from 2017 to 2027 for the following segments:

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Market, By Strength

• 0 to 40 MPa
• 40 to 80 MPa
• Above 80 MPa

Market, By Application

• Building
• Infrastructure
• Pavements
• Concrete Roads
• Others

The above information is provided on a regional and country basis for the following:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Turkey
  • Italy
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Malaysia
• Latin America
  • Mexico
  • Brazil
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Qatar
  • Kuwait
  • UAE