[FURL=https://www.industryarc.com/Research/High-Strength-Concrete-Market-Research-503178?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]High-Strength Concrete Market[/FURL] size is expected to be valued at US$ 505.3 billion by the end of the year 2027 and is set to grow at a CAGR of 4.2% during the forecast period from 2022-2027. The increase in the construction activities of high raised buildings is majorly driving the demand for high strength concrete market. Certain types of high strength concrete such as reactive powder concrete is prepared by replacing ordinary aggregates of ordinary concrete with silica fume gel, quartz powder, steel fibers and others. This provides high compressive strength to the concrete.Key Takeaways
Asia-Pacific market held the largest share in the high-strength concrete industry owing to the increasing construction activities in countries like China, India and South Korea in the APAC region.
One of the significant reasons contributing to the growth of the high-strength concrete market is the benefits provided by the reactive powder concrete such as high tensile strength and durability.
Increased demand for high raise buildings is majorly driving the demand for high-strength concrete market.
The covid-19 pandemic has affected the high-strength concrete market in terms of stock over piling which eventually led to the outdating of the inventories, causing huge losses to the high-strength concrete industry.
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High-Strength Concrete Market Segment Analysis – By Geography
Asia-Pacific region held the largest share of 30% in the high-strength concrete market in the year 2021. Reactive powder concrete has a good scope for use in the Asia pacific region owing the increase in building and construction activities in countries like China, India and South Korea. For instance, in the Union Budget of 2020-2021 made by the Indian government, the government allocated US $6.85 billion (Rs. 50,040 crore) to Ministry of Housing and Urban Affairs. According to International Trade Administration, the public and private infrastructure and civil engineering services recorded a growth of 16.9% during the year 2020.
High-Strength Concrete Market Drivers
Increasing construction activities coupled with government investments is driving the high-strength concrete market
Superior properties like durability and anti-corrosion is likely to boost the demand for high-strength concrete market
Slow and Controlled Release Pesticides Market Industry Outlook
Major players in the High-Strength Concrete Market are LafargeHolcim, SIKA Group, BASF SE, Gulf Precast Concrete Co. L.L.C, Cemex Group, Vicat, UltraTech Cement Ltd, ELO Concrete, Heidelberg Cement AG, ceEntek Pte Ltd, Illinois Tool Works Inc.
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