LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global self-compacting concrete (SCC) market to grow at a CAGR of almost 6% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global self-compacting concrete market for 2017-2021. The market is segmented on the type (power, combination, and viscosity), and geography (APAC, EMEA, and the Americas).
The global SCC market is expected to grow considerably during the forecast period. The growth can be attributed to the lower cost of maintenance, repair and operations, improvement in air quality, and less adverse impact on the environment in repair and construction activities. The safety benefits offered by SCC improved performance, and construction results also contribute to the market growth. It is also a feasible option for small- and medium-scale manufacturing units as it has thin concrete sections, improved durability, high design freedom, fast construction, and easy placing.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Technavio chemicals and materials research analysts highlight the following three factors that are contributing to the growth of the global self-compacting concrete market:
- Growth in construction activities
- Increase in demand for SCC in APAC
- Recovering construction and housing sectors in Europe
Growth in construction activities
The increase in investment for construction industry across emerging economies is driving the growth of the global cement industry. The global construction industry is expected to grow to nearly USD 12 trillion by 2021. APAC has the world's emerging and growth-leading economies, namely China, India, Japan, Indonesia, and the Philippines. These emerging markets compete in the development of high-quality infrastructure.
Hitesh Bhatia, a lead metals and minerals research analyst at Technavio, says, “The infrastructure in European and North American countries is considered to be of good quality, depicting a proper coordination and planning between the public and private players involved in the development and maintenance of existing and new construction projects. Such factor helps these countries to attract external investors and provide aid for the rehabilitation and reconstruction of existing structures.”
Increase in demand for SCC in APAC
Population growth and rapid urbanization, rising disposable incomes, favorable investment policies, and government initiatives to promote industrial growth have sustained the growth of the construction industry in APAC. China, India, Japan, Malaysia, South Korea, and Vietnam are the fastest-growing construction markets in the region. Currently, Japan remains the key market in APAC, followed by India, China, and South Korea where the demand for concrete is growing steadily. The region will sustain its significant market share in future.
“The government is also investing in manufacturing, construction, and power plants in accordance with the changes in social-economic and demographic factors. The established manufacturers in the region are also investing significantly in R&D. These factors are collectively driving the market growth in APAC,” adds Hitesh.
Recovering construction and housing sectors in Europe
The construction sector contributes to around 8.7% to the GDP of the EU, with nearly more than three million enterprises and a total workforce of more than 18 million. More than 98% of the construction sector in Europe is composed of small- and medium-sized enterprises. These enterprises produce nearly 79.5% of the construction industry's output. Small enterprises are responsible for more than 52% of the production and employ nearly 70% of the sector's working population.
Top vendors:
- BASF
- CEMEX
- HeidelbergCement
- LafargeHolcim
- SIKA
Browse Related Reports:
- Global Aluminum Scrap Recycling Market 2017-2021
- Global Nano Copper Powder Market 2017-2021
- Global Metal Biocides Market 2017-2021
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments such as specialty chemicals, bio-chemicals and bio-materials, and paints, coatings, and pigments. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.
About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at media@technavio.com.
