LONDON--(BUSINESS WIRE)--The concrete and cement market is expected to grow by USD 332.2 billion during 2020-2024 according to the latest market research report by Technavio. Request a free sample report
Concrete is widely used as a composite material in the construction of various types of structures. However, concrete cannot sustain heavy strain or tension, which can result in cracks in structures. Thus, there is a constant need to monitor these structures to prevent cracks from spreading further. Increasing advances in concrete technology have led to the emergence of self-sensing concrete or smart concrete which can capture tiny structural flaws before they assume significance. It can also be used to monitor the internal condition of structures following an earthquake. The use of smart concrete will improve the strain resistance of the material, as it creates contact between cement matrix and carbon fibers. Thus, the development of smart concrete is expected to drive the growth of the concrete and cement market during the forecast period.
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As per Technavio, the rising demand for green cement will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Concrete And Cement Market : Rising Demand For Green Cement
The global green cement market is gaining momentum as governments are promoting green architecture to ensure sustainable building. The growing need to cut down on carbon emissions is one of the key reasons for the growth of sustainable buildings. The rising demand for green cement from the construction industry can also be attributed to its less water consumption properties. In addition, green cement provides thermal insulation and fire resistance, which enables structures built with green cement to withstand temperatures up to 2,400° F. All these factors will increase the demand for green cement, which, in turn, will drive the growth of the market during the forecast period.
“Factors such as the increasing use of carbon capture storage (CCS) plants and rapid urbanization will have a positive impact on the growth of the concrete and cement market value during the forecast period,” says a senior analyst at Technavio.
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Concrete And Cement Market: Segmentation Analysis
This market research report segments the concrete and cement market by product (cement and concrete), end-user (residential and non-residential), and geographic segmentation (APAC, Europe, MEA, North America and South America).
The APAC region led the concrete and cement market in 2019, followed by Europe, North America, South America and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to several factors such as rising number of manufacturing plants, wide availability of raw materials and the presence of favorable government policies.
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Some of the key topics covered in the report include:
Concrete and Cement Market Segmentation by Product
Concrete and Cement Market Segmentation by End-user
Concrete and Cement Market Segmentation by Geography
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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