The High Strength Concrete Market was at US$ 126.56 Bn in 2021 and is growing to approx US$ 507.9 Bn by 2030, with a CAGR growth of 5% between 2022 and 2030.

AUSTIN, TEXAS, UNITED STATES, March 28, 2023/EINPresswire.com/ -- According to the study, The Global High Strength Concrete Market was estimated at USD 126.56 Billion in 2021 and is anticipated to reach around USD 507.9 Billion by 2030, growing at a CAGR of roughly 5% between 2022 and 2030.

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High Strength Concrete Market: Overview

High-strength concrete is defined as concrete with a specified compressive strength of 55 MPa (8000 psi) or higher. It has a compressive strength of over 69 MPa (10,000 psi) and is routinely produced daily. It has many vital attributes, widely preferred in various end-use industries. For instance, it has high strength and resilience compared to an average concert and is resistant to uncertain environmental factors. As a result, it has a wide range of applications in various end-use industries, including building & construction, residential, commercial, and others.

High Strength Concrete Market: Growth Drivers

The high strength concrete is a very agile material and makes the building structure less porous, which increases the bond strength and also helps in lowering the construction time and reducing costs owing to which it is widely used in the repair and construction activity. In response to this, increasing demand from the building & construction sector is one of the critical factors responsible for the growth of the global high-strength concrete market.

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Key Insights:

A) As per the analysis shared by our research analyst, the High Strength Concrete market is estimated to grow annually at a CAGR of around 5% over the forecast period (2022-2030).
B) In terms of revenue, the High Strength Concrete market size was valued at around USD 126.56 Billion in 2021 and is projected to reach USD 507.9 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Unfamiliarity with making high-strength concrete technology and lack of awareness regarding high-strength concrete methods and techniques will affect the overall market growth.
D) High strength is preferred over conventional concrete material due to its low volatile organic content. Therefore, high-strength concrete is used extensively in the bridges and construction sector as it is resistant to corrosion, scratch, and chemical spill and possesses high strength. For instance, according to an article published by Invest India in the year July 2022, the construction industry is expected to reach $1.4 trillion by 2025.
E) The high installation and machine costs will be challenging in the high-strength concrete market. In response to this, the need for more skilled labour and technical knowledge regarding the installation of the shotcrete technique will restrain the overall market.

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Regional Landscape

Asia-Pacific is the dominant region in the high-strength concrete market and accounts for 35%. Countries such as China, India, Japan, and other countries are declared densely populated, which in turn leads to a rise in the demand for building and construction activity. This factor is expected to be one of the key drivers responsible for market growth. According to data published by Invest India in September 2022, cement production (weight: 5.37 %) increased by 2.1 % in July 2022 over July 2021. Its cumulative index increased by 13.3 % from April to July 2022-23 over the corresponding period of the previous year. This factor is anticipated to drive the market in the Asia-Pacific region.

Moreover, China’s bridge, tunnel, and construction activity are expected to grow at a rapid pace owing to the rapid increase in population, industrialization, urbanization, and government support for the construction sector has spurred the overall market growth. For instance, according to an article published by IBIS World in the year March 2022, the bridge, tunnel, and subway construction industry in China has been multiplying over the past five years, where industry revenue is expected to rise at an annualized 9.7% over the five years through 2022. In addition, Industry firms are set to generate $1.6 trillion in 2022. The industry is generally profitable as the government controls many construction enterprises, particularly large-scale firms, and assists firms with various preferable policies

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Key Players

BASF SE
CEMEX SAB DE C.V.
Ultratech Cement Ltd
ACC Limited
Clayton Block Co.
Godrej & Boyce Mfg. Co. Limited
S. Concrete Inc.
Gulf Precast Concrete Co. LLC
LafargeHolcim
Sakrete
Sika AG
TAKTL
Tarmac
The Quikrete Companies

The High Strength Concrete Market is segmented as follows:

By Product Type

Ready-mix/Pre-mix
Precast concrete
On-site

By Application

Underground construction
Inground swimming pool Commercial
Residential
Infrastructure
Other Applications

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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