Ultra-high-performance concrete (UHPC) is characterized by high strength and has the potential to revolutionize the construction industry. UHPC is also referred as reactive powder concrete (RPC). It is formulated by mixing Portland cement with other materials like silica fume, fine silica sand, quartz flour, high degree moisture eliminator, and organic fibers such as steel, etc.
Ultra-high-performance concrete offers excellent strength, superior durability & aesthetics, resistance to corrosion, abrasion & impact assuring low maintenance and long life to the construction, thus improved sustainability. These qualities make UHPC a good choice of material for bridges/flyover, highways, and other infrastructures projects. Leverage to the rapidly erecting smart city projects worldwide, the scope for UHPC is widening.
According to Market Research Future (MRFR), the ultra-high performance concrete market is projected to perceive a moderate growth by 2023, registering a CAGR of 7% throughout the forecast period (2017 to 2023). Rising population, rapid industrialization & urbanization, and the improving economy, worldwide, are the key driving forces behind the market growth.
Favorable government policies & initiatives of infrastructure development projects are positively impacting market growth. Moreover, rising demand for eco-friendly & sustainable construction and government support, fuel the demand for ultra-high performance concrete. The hotel industry is surging owing to the growing travels sector.
Usages of ultra-high-performance concrete in the hotel sector to ensure faster quality construction defines the UHPC market landscape in the recent future. Ultra-high performance concrete offers efficiency and durability, assuring the structural safety that makes it an excellent solution for large-scale construction projects.
Adversely, volatility in the prices and the demand-supply gap in the raw materials required for the production of UHPC is expected to impede the growth of the market during the forecast period. Ultra-high-performance concrete can withstand substantially greater load bearings, therefore eliminate the requirement of numerous other support features & expensive column construction inside the building.
This feature allows magnificently appealing interiors, creating fluidity &functionality. Furthermore, ultra-high-performance concrete is lightweight, which minimizes the need for extra material needed for a deeper foundation for a building. All these factors would commutatively contribute to the growth of the market.
Ultra-high Performance Concrete Market – Segmentation
The report is segmented into three key market dynamics to widen the scope of understanding,
By Additive Type : Chemical, Mineral, and Fiber
By Application : Residential and Non-Residential, among others.
By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.
Global Ultra-high Performance Concrete Market – Geographical Analysis
The Asia Pacific region would retain its dominance over the global ultra-high performance concrete market. Due to the expanding construction industry, the region is predicted to grow with the highest CAGR during the review period, 2017-2023. Moreover, the increasingly prosperous population in the region that is demanding higher-quality housing and better living conditions is fostering the regional market.
Also, rapid industrialization in the region is propelling the growth of the market, demanding improved infrastructure, and hence increasing the construction activities across the region. Infrastructure developments are dramatic in many developing countries, particularly India and China, and represent a major driver in ultra-high-performance concrete consumption.
Furthermore, the availability of cost-competitive labor force and ample raw material required for the production is expected to fill the demand-supply gap of ultra-high-performance concrete.
North America is another lucrative region in the global ultra-high performance concrete market. The market is predicted to witness a tremendous growth on account of high consumption potential, increasing production capacities, and the well-developed economy in the region. The US is a major contributor to regional market growth due to the significant demand for the product.
In Europe, the demand for ultra-high performance concrete is predicted to grow enormously on account of the increasing expenditure in innovation and increasing purchasing power of consumers. In various countries such as the UK, Italy, Germany, Spain, and France, the demand for ultra-high performance concrete is quite high. The UK is a standout market in Europe with growth set to outpace the average of its Western European neighbors by a significant margin in the forecast period.
Global Ultra-high Performance Concrete Market – Competitive Analysis
Fiercely competitive, the global ultra-high performance concrete market appears to be fragmented with many well-established players having a global presence. To gain a competitive advantage and maintain their positions in this market, mergers & acquisitions, brand reinforcement, and innovations remain the popular trends for the key players in the market.