Rapid Strength Concrete Market Size

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.