Ultra-high Performance Concrete Market is projected to grow from USD 369 million in 2019 to USD 550 million by 2024, at a CAGR of 8.3% from 2019 to 2024. Ultra-high Performance Concrete Market grows in accordance with the growth of the construction industry across the globe. Factors such as the increase in the infrastructural and residential construction and innovation, along with the demand for durable construction material with the ability to withstand extreme weather and resist chemical attacks & deterioration, are expected to support market growth.
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In terms of volume, the infrastructural segment is estimated to lead the market in 2019.
The infrastructural segment held the largest market share among all the application segments of the market, as ultra-high performance concrete offers new opportunities for infrastructural works, building constructions, and many niche markets. However, UHPC, as an outstanding technology, has been struggling to become a main-stream technology for everyday use due to the lack of design codes and the initial high investment costs involved in constructing manufacturing facilities.
In terms of both value and volume, the residential segment is projected to grow at the highest rate in market during the forecast period.
The market is widely accepted in residential high-rise buildings, owing to various advantages offered, which include durability, high strength, and protection from extreme weather conditions. The growth of the ultra-high performance concrete (UHPC) market is largely associated with the growth in the residential applications in the construction industry. The construction industry is expected to push the concrete industry to new altitudes, which, in turn, will help the construction market achieve greater revenues and volumes in the near future, which will drive the demand for UHPC at a significant pace.
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The Asia Pacific region is projected to grow at the highest rate in the market during the forecast period
The Asia Pacific region is projected to grow at the highest rate in the ultra-high performance concrete (UHPC) market, in terms of both value and volume, from 2019 to 2024. Factors such as the increasing number of new housing units and huge investments in the infrastructural sector are expected to drive the UHPC market. Also, the increasing demand in China, Japan, Malaysia, South Korea, and other countries, due to the tremendous growth of construction opportunities in these countries, has also driven the market for UHPC.
Some of the key players operating in the UHPC market are LafargeHolcim (Switzerland), ACC Limited (India), Sika AG (Switzerland), Vicat (France), U.S. Concrete (US), CEMEX (Mexico), TAKTL (US), and Gulf precast concrete (Abu Dhabi). Mergers & acquisitions, expansions, investments, partnerships, and agreements are some of the major strategies adopted by these key players to enhance their position in the ultra-high performance concrete market.
Recent Developments
- In June 2019, Holcim Philippine, a subsidiary of LafargeHolcim, completed the expansion of its plant in La Union, Philippines. The company increased its production capacity at the facility, from 1 million tonnes per year to 1.8 million tonnes.
- In March 2019, CEMEX Ventures and Tefken Ventures signed a collaboration agreement. This collaboration aimed at promoting a generation of new business models, with players in the construction ecosystem.
- In January 2019, Vicat acquired Cimento Planalto – Ciplan (Brazil) to increase its manufacturing capacity of cement to 3.2 million tons per year.
Key Questions Addressed by the Report:
- What are the global trends in the
ultra-high performance concrete market ? Would the market witness an increase or decline in the demand in the coming years? - What is the estimated demand for the different materials used in ultra-high performance concrete products?
- Where will the strategic developments take the industry in the mid-to-long term?
- What are the upcoming industry applications and trends for ultra-high performance concrete?
- Who are the major players in the market, globally?
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