The global ultra-high performance concrete market is witnessing substantially rising revenues. The market growth attributes to the spurring rise in the construction industry and consumption of building materials. Besides, rising uses of ultra-high performance concrete to ensure improved quality and productivity of constructions drive the market growth.
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In its recently published study report, Market Research Future (MRFR) asserts that the global ultra-high performance concrete market is expected to grow at approximately 7 % CAGR during the forecast period (2022–2030). The hotel industry is witnessing a spurring rise owing to the growing travel sector. Usages of ultra-high performance concrete in the hotel sector to ensure faster quality construction define market landscape expansion.
Government initiatives for infrastructural developments and rising smart city projects create a substantial demand for ultra-high performance concrete. Moreover, the increasing population and rapid industrialization urbanization worldwide boost the market size. Advantages of ultra-high performance concrete that can withstand substantially greater load bearings influence the market growth.
Ultra-high performance concrete offers efficiency and durability, assuring structural safety, making it the most excellent solution for large-scale construction projects. Furthermore, ultra-high performance concrete can eliminate the requirement of numerous other support fixtures expensive column construction, resulting in saving a substantial amount of construction costs.
Also, the concrete minimizes the need for extra material required for a deeper foundation of a building. All these factors contribute to market growth commutatively. Conversely, price volatility and the demand-supply gap in raw materials required for production are major factors impeding the market growth. Nevertheless, favorable properties of ultra-high performance concrete would support market growth throughout the assessment period, increasing the efficiency and durability of construction works.
Global Ultra-high Performance Concrete Market – Segments
The UHP concrete market is segmented into power type, application, and regions. The type segment is sub-segmented into SIFCON (Slurry infiltrated fibrous concrete), RPC (Reactive Powder Concrete), CRC (Compacted Reinforced Composite), and others.
The application segment is sub-segmented into bridge construction, building construction, military construction, anti-detonating construction, and others. By regions, the market is sub-segmented into Asia Pacific, Americas, Europe, and rest-of-the-world.
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Global Ultra-high Performance Concrete Market – Regional Analysis
The Asia Pacific region dominates the global ultra-high performance concrete market. The largest market share attributes to the growing construction industry, rising population, and economic growth in the region. Besides, lowering interest rates on construction loans and increasing consumer purchasing power influence market growth. The APAC ultra-high performance concrete market is projected to retain its dominance throughout the estimated period.
North America stands second in the global ultra-high performance concrete market. Market growth is fostered by the booming construction sector and constant renovation activities in infrastructures. Additionally, the increasing production capacities, high consumption potential, and well-developed economy boost the regional market growth. The North American ultra-high performance concrete market is expected to perceive significantly augmenting demand during the review period.
The ultra-high performance concrete market in Europe is growing rapidly. Factors such as increasing RD expenditures to drive product innovations and the growing purchasing power of consumers drive the market growth. Furthermore, the rising consumption of structural components and increasing pre-engineered building projects boost the market size. The European UHP concrete market is expected to create a substantial revenue pocket during the anticipated period.
Global Ultra-high Performance Concrete Market – Competitive Analysis
Fiercely competitive, the ultra-high performance concrete market appears fragmented due to several well-established industry players operating in the market. Mergers acquisitions, collaboration, brand reinforcement, and innovation are popular trends of key players to gain a larger competitive advantage and maintain their market positions.
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Players active in the global ultra-high performance concrete market include Sika AG (Switzerland), Lafarge S.A. (France), RAMPF Holding GmbH Co. KG (Germany), ceEntek Pte Ltd. (Singapore), Densit (Denmark), Elementbau Osthessen GmbH Co., TAKTL (US), ELO KG (Germany), and Gulf Precast Concrete Co. LLC (UAE), among others.
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