Contributed by Global Market Insights
According to a recent study from market research firm Global Market Insights, the rapid strength concrete market is set to grow from its current market value of more than $305.9 billion to over $424 billion by 2026, gaining remarkable traction over the 2020 to 2026 period.
The global rapid strength concrete market is slated to witness tremendous gains over the coming years due to the increasing focus on infrastructure development across numerous economies. Rapid Strength Concrete (RSC), as its name implies, is a specific kind of concrete that has the ability to gain strength quickly. In fact, concrete strengths of more than 3,000 psi could be obtained within as little time as two hours.
Attributing to the capabilities of this concrete to obtain strength very quickly, removal of formwork is made more easy and consequently the construction of buildings can be done more rapidly, saving tremendous amounts of time and costs. Additionally, it also allows the structure to become operational far quicker as compared to conventional methods.
The material boasts of widespread applications in road repair activities as the road under repair does not need to be closed to traffic for a long time and can become operational within hours owing to the cement's inherent ability to gain strength quickly.
The product also witnesses significant use in other infrastructure activities like haunching reinstatements, ironwork backfilling, and commercial post/sign installations among others.
Global Market Insights Inc.
The overall rapid strength concrete market is categorized into different segments based on strength, application, and regional landscape.
Based on strength, the market is further classified into From 0 to 40 Mpa, From 40 to 80 Mpa, and Above 80 Mpa. Among these, the 0 to 40 Mpa segment is projected to dominate the overall segment share over the forthcoming years. Rapid strength concrete below 40MPa held a prominent volume share of more than 60% in 2019. It is primarily used in the construction of slabs and pathways which in turn will drive the segments growth during the forecast timeframe.
In terms of application, the rapid strength concrete market is further bifurcated into roads/bridges, building/floors, tunnels, airfield, highway, and others. Among these, the buildings/floors segment expected to grow with more than 7.5% CAGR over the forecast time period in terms of volume. The growth of the segment can be attributed to the rapidly rising real estate market for new buildings and commercial offices, which is slated to create substantial demand for rapid strength concrete.
From a regional frame of reference, the Middle East & Africa rapid strength concrete (RSC) market is anticipated to witness tremendous grains over the coming time period. The region has a volume share of over 10% in the overall market. Increase spending on infrastructure project is expected to boost the regional for rapid strength concrete market share in the projected period of time.