Global Rapid Strength Concrete Market - Growing Need for Accelerated Infrastructure Repair and Shorter Turnaround Time to Fuel Demand
Rapid strength concrete, a green construction material, provides high early-strength in comparison to traditional Portland cement-based concrete; hence, providing contractors/end-users with advantages such as reduced project length and turnaround time. It is available in the market in numerous product types, with a broad array of characteristics ranging from strength to 'setting-time.' For instance, some variants (available globally) can harden and attain high strength in a matter of ~4 hours after being poured and left to set. In addition, rapid strength concrete can be prepared for special conditions of exposure, such as resistance to sulfates or alternate thawing.
The global rapid strength concrete market is in its nascent stages; it is expected to grow radically until 2020. Rapid strength concrete consumption is estimated to grow at a CAGR of 10.20% from 2015 to 2020. Europe held the largest share in the global rapid strength concrete market in 2014. The region is expected to witness significant growth over the next five years. This growth is largely fuelled by the gradual recovery of the European construction sector from adverse effects of the 2008-09 recession.
Rapid strength concrete, since its introduction in the later part of the 20th century, has witnessed significant success and finds extensive usage in the European and North American regions, for infrastructure repair and new construction activities. Contractors prefer this product as it allows for quality accelerated construction. Growing pressure from governments to use to eco-friendly concrete is another important reason for its adoption by end-users. However, despite these characteristics and widespread usage in Western countries, the product has had little or limited success in the Asia-Pacific construction sector; similar patterns are seen in emerging economies. The lack of demand in these economies can be primarily attributed to the premium pricing of rapid strength concrete and the lack of awareness regarding its benefits among government contractors and private players in the construction sector of these countries.
Despite the low demand in developing nations of the Asia-Pacific region, the market for rapid strength concrete is expected to benefit heavily from growing government emphasis and consumer (public) need for hassle-free accelerated repair of infrastructure, such as roads, highways, bridges, and tunnels. Moreover, the growing competition in the North American construction sector (which is still reeling from the aftermath of the 2008-09 recession) has companies and contractors vying for tight-scheduled/time bound and budget-driven projects. The factors mentioned above are expected to greatly aid the growth of the global rapid strength concrete market.
In addition, due to growing global emphasis on the use of green building materials and the mounting pressure on the construction sector regarding the ill effects of Portland cement on the environment, the overall demand for recycled-material based concrete is expected to increase, along with the demand for rapid-strength concrete.
Some of the major players in the global rapid strength concrete market include Aggregate Industries UK, BASF, CEMEX, Holcim, Instarmac Group, Sika Corporation, Tarmac (a CRH company) and CTS Cement.
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