LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global ready mix concrete batching plant market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global ready mix concrete batching plant market will grow at a CAGR of around 6% during the forecast period. The rise in global construction and infrastructure development activities is a major factor driving the market’s growth.
The number of new constructions in many developed and emerging economies is on the rise after a prolonged recession in the construction market. The residential housing completions in the US have grown significantly in 2017. The recovery in the US economy has created optimism among home buyers, leading to increased demand for new single and multi-family homes. It is also expected that constrained demand from the recession period will also push up the demand in the housing market.
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In this report, Technavio highlights the growing use of fiber concrete as one of the key emerging trends driving the global ready mix concrete batching plant market:
Growing use of fiber concrete
Fiber concrete or fiber-reinforced concrete is a type of concrete, which incorporates strong fibrous materials to improve the structural integrity of the solid concrete. Fiber concrete is produced by mixing together small fiber strands of materials such as steel, glass, synthetic fibers, and other composites such as polypropylene and nylon fibers. The properties of the concrete may vary extensively, depending on the type of fiber used for production. The advantages of fiber concrete are leading to the increased use of these materials in a variety of construction and civil engineering applications. Additionally, this type of concrete is generally used in batching plants to produce a homogeneous and uniform mixture of the materials and to confirm the consistent quality of the end-product.
“The major advantage of fiber concrete is that it can reduce the cracking of surfaces, which happens because of plastic deformation and shrinkage while drying. Thus, fiber concrete is generally used in the construction of high-performance surfaces in places such as airport runways, hangars, manufacturing facilities, ports, and warehouses. These are also extensively used in the construction of underground tunnels as fiber-mixed concrete reduces fluid permeability and increases the ductile strength of the tunnel walls,” says a senior analyst at Technavio for research on construction.
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Global ready mix concrete batching plant market segmentation
This market research report segments the global ready mix concrete batching plant market into the following applications (non-residential constructions and residential constructions) and key regions (the Americas, APAC, and EMEA).
In 2017, APAC held the largest share of the ready mix concrete batching plant market, accounting for close to 46% of the global share. The market in the region is anticipated to post rapid growth during the forecast period. A major factor pushing the demand for ready mix concrete batching plants in the region is the rapid economic growth and development in several countries in APAC such as China, India, and Indonesia.
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