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Self-Compacting Concrete Market is likely to witness a decent growth pace over 2024

Author : Rahul Varpe | Published Date : 2019-07-12 

Self-compacting concrete market in Asia Pacific has been a vanguard of global market over the recent years, having held a revenue of USD 14 billion in 2016. As per a report brought forth by the Centre for Economic and Business Research, within the span of half a decade (2008-2013), the population of GCC countries had risen by almost 20%, which is claimed to be six times faster than the growth rate that was observed in U.S. and U.K. The meteoric rise of self-compacting concrete industry demand across this belt is thus quite vividly coherent, given the extensive proliferation of construction activities in response to the thriving population growth.

Many macro-economic factors which are closely linked with construction domain has left a perpetual influence on the self-compacting concrete market dynamics. For instance, the demographic structure across GCC countries had wide range implications on the construction sector, which by extension has soared up the demand for self-consolidating concrete. Reports claim, the GCC belt has been one of those few regions which have observed a tremendous economic boost post the financial crisis in 2008, with a record of GDP growth of almost 24% over the period of 2008-2013.

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According to the reports, with China at the growth front, APAC belt is expected to account for almost 60% of the overall construction spending by 2025. In addition, numerous favorable policies implemented by the governmental bodies under the structural reform plan will further complement the self-compacting concrete market growth. Rapid industrialization and urbanization across major economies are claimed to be the prime factors enhancing the regional market outlook.

One of the most remunerative, renowned, and rapidly evolving business spheres of recent times, self-compacting concrete market has been phenomenally influenced by the changing trends of construction industry. Self-compacting concrete, of late, has become an integral component of modern construction activities owing to some of its excellent beneficiary features like high flowability and segregation resistance.

In response to the extensive use of this material in the evolving constriction sector, self-compacting concrete industry size is anticipated to witness a massive proliferation in the forthcoming years. Statistics further can be placed as an affirmation to the declaration- the overall construction spending in the year 2015, was almost around USD 7 trillion, and is slated to exceed USD 13 trillion by the end of 2023.

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Companies engaged in self-compacting concrete market are concentrating on forging strong alliance to come up with innovative sustainable solutions. Citing a latest instance, Tarmac, one of the most acclaimed U.K. based leading sustainable materials group, has recently acquired remaining 50% share of Scottish Power under its long-standing ScotAsh joint venture.

Reportedly, through this deal, the U.K. based giant would get the full ownership of ScotAsh. Experts deemed this move to be highly strategic from Tarmac’s perspective, with regards to its aim of expanding its customer base with cutting-edge solutions, leveraging the superfluity of combined expertise of both the organizations. With the world treading on the path of sustainability trends, the room for evolution of self-compacting concrete industry is huge. Global Market Insights, Inc., forecasts the overall self-compacting concrete market size to exceed a valuation of USD 30 billion by 2024.

High price trends of the raw materials when compared to its conventional counterparts along with limited product utilization in infrastructure sector is hindering the market penetration across some of the geographies. Nonetheless, leading market giants, in a way, are set to exploit the numerous challenges and opportunities of the business space, readily investing in advanced techniques that not only ensure cost-effective solutions but also improved functionality.

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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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