The report presents a comprehensive research of the global concrete cooling market by application (highway construction, dams and locks, port construction, and power plant construction) and by type (water cooling, ice cooling, air cooling, and liquid nitrogen). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: growing construction industry
By 2020, the global construction industry is estimated to reach USD 10.3 trillion. APAC consist of some of the leading economies of the world. Europe and North America have good quality infrastructure that depicts proper coordination and planning between the public and private players that are looking for the development and handling of existing and new construction projects. This aids in attracting external investors to provide aid for the rehabilitation and reconstruction of existing structures.
According to a senior analyst at Technavio for metals and minerals research, “With the growth of the global construction market, the concrete cooling market is also expected to grow. The increasing use of cooling agents while manufacturing concrete to improve its properties will drive the market. The developing economies are expected to witness a higher rate of growth when compared to the advanced economies. This growth can be attributed to the increasing number of residential projects in regions where the population has been snowballing over the past few years.”
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Market trend: increasing demand for liquid nitrogen in concrete cooling
Liquid nitrogen is a major type of concrete cooling system, which prevents concrete from developing structural and thermal cracks. It speeds up the cooling process in concrete as well. Liquid nitrogen is added to fresh cement to control the temperature. This is beneficial for countries in the high-temperature zone. It is an inert fluid and an eco-friendly liquid, which quickly converts into gas during heat transfer leaving no residue.
In 2017, the global liquid nitrogen market was estimated at USD 13,901 million. Precise temperature control, water/cement ratio remains unchanged, easy and reliable metering, higher cooling rates and heat capacity transfer, higher energy utilization, and low investment costs are some of the benefits of liquid nitrogen used for concrete cooling.
Market challenge: stringent regulations and depleting fossil fuel reserves
Carbon dioxide is released during the process of concrete manufacturing which is a major environmental concern. Along with carbon dioxide, other harmful gases such as sulfur dioxide, nitrogen oxides, and mercury are also released during the manufacturing of concrete. To prevent such emissions, different governments are imposing regulations on concrete manufacturing. Such regulations pose as a serious challenge for the global concrete cooling market.
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