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Self-Compacting Concrete Market for building & construction segment is expected to rise at a CAGR of 5% by 2024

Author : Rahul Varpe | Published Date : 2019-06-18 

Global market Insights add Self-Compacting Concrete market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability.

As per World Oil, there would be an increase of over 27% in exploration & production activities in the U.S. Additionally, there would be a hike in drilling wells, which will reach over 18,500 in 2017. The product is mainly used in the petroleum industry in setting up pipelines, drilling shafts, etc., to acquire mineral deposits below the land or to transport crude oils/gas by setting up pipelines, which will positively influence self-compacting concrete market during the forecast span.

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Self-compacting concrete market in Asia Pacific is accounted for over 70% share of the overall market in 2016. It is primarily due to instant industrial development, which is primarily due to growing population, which will propel the construction sector in Asia Pacific.

Self-compacting Concrete Market is expected to exceed USD 30.2 billion; according to a new research report. Robust demand for self-compacting concrete in the U.S. due to the increased drilling activities, which can be attributed to the fast pace of the petroleum industry will drive market during the forecast period.

The government is presently making regulations under structural reformation plans for the application of large projects to expand the total construction in the area that would positively affect the market during the forecast period.

Main self-compacting concrete market shareholders are:

  • BASF
  • Sika
  • Unibeton
  • Buzzi Unicem
  • CEMEX
  • Ultratech Cement
  • ACC
  • Breedon

The aforementioned companies are involved in acquisitions, mergers, and joint venture activities to advance its occurrence in the trade. For example, in July 2016, HeidelbergCement acquired Italy's Italcementi to create the world's second-largest cement group

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The self-compacting concrete market by the building & construction segment is expected to rise at a CAGR of more than 5% over the projected time span. The product is widely applicable in the construction business, primarily in buildings in both residential and commercial sectors, due to its value-added advantages such as high productivity, low labor cost, and appeal value. Moreover, it doesn't involve vibration for settling and continues homogeneousness due to its high mobility and hence is likely to make a substantial input to the market.

Drilled shafts application segment for self-compacting concrete market is anticipated to rise at a CAGR of over 4.5% by 2024. The product finds widespread applications across several end-user industries including infrastructure industry, construction, and petroleum, etc. The product is extensively used to avoid clogging due to coarse aggregates, which will lead to the isolation of concrete outside and inside the enclosure due to its improved workability as compared with the general drilled-shaft concrete. Its ability to impart superior performance will make a considerable impact on market during the forecast period.

Rapidly rising price of raw materials, such as fibers, admixtures, etc., and restrictions to use these products in the construction sector may hamper the self-compacting concrete market by 2024. Nevertheless, low labor cost, enhanced appeal, and low productivity stress of the product will drive market.

 

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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