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Smart Concrete Market Trends

Report ID: GMI12569
Published Date: Dec 2024
Report Format: PDF

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Smart Concrete Market Trends

Emerging economies, particularly India, Indonesia, and regions in Africa, are making significant investments in infrastructure, presenting opportunities for the adoption of smart concrete in long-lasting, cost-efficient projects. Governments in these developing countries are promoting affordable housing programs where smart concrete can ensure quality and durability. Foundations for wind turbines and solar farms can benefit from smart concrete's crack detection and self-healing properties, ensuring stability in remote and harsh environments. Research into low-carbon binders, bio-based healing agents, and other sustainable materials can open new markets for green construction technologies. Innovations in nano-materials, such as graphene and carbon fibers, can enhance the efficiency of smart concrete in sensing and self-healing, broadening its applications.

Authors: Avinash Singh , Sunita Singh

Frequently Asked Questions (FAQ) :

The global market for smart concrete was reached USD 88.2 billion in 2023 and is estimated to grow at a 11.9% CAGR from 2024 to 2032, driven by the construction industry's focus on reducing its carbon footprint.

The self-healing concrete segment reached USD 57.7 billion in 2023, led by research into organic materials like bacteria and fungi that enhance self-repair capabilities.

The commercial buildings segment held approximately 32.4% share of the smart concrete market in 2023, propelled by the need for robust materials to minimize maintenance in structures like office complexes, malls, hotels, and hospitals.

The U.S. smart concrete market size surpassed USD 23.7 billion in 2023 and is estimated to grow at a 12.6% CAGR from 2024 to 2032, due to substantial infrastructure investments and stringent regulatory frameworks.

Key players in the smart concrete industry include Acciona, BASF, Basilisk, Bouygues Construction, Breedon Group, Cemex, Heidelberg Materials, Holcim, Hycrete, Kryton, Sika AG, and Xypex Chemical Corporation.