Concrete Restoration Market Growth Drivers, Business Strategies and Future Prospects 2029
Posted by aartimurkute on September 28th, 2022
Globally, the demand for concrete has been growing at an increasing pace. One major contributing factor is the growing population. As per some estimates, the current population of 7.7 billion people is set to reach a staggering figure of 9.7 billion by 2050. This continually sustains the demand for stable infrastructure. Approximately trillion is spent on construction-related goods and services each year. The growing geriatric population, mass urbanisation, and ageing urban infrastructure are some of the primary contributors to this trend. The global concrete restoration market is projected to exhibit tremendous growth in such a business environment. Rapid urbanisation is testing the limits of contemporary public infrastructure, creating a need for regular repairs. In addition, new products such as quick-setting cement mortar are finding notable applications in constructing underwater infrastructure such as river bridge piers.
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Increasing Population to Create Sustained Demand for Infrastructure
Compared to the past few decades, the number of people living in urban areas has skyrocketed. Such rampant urbanisation across the globe is straining the existing infrastructure that was built with a much lesser population density in mind. This, in turn, creates a sustained demand for urban infrastructure expansion and repairs. In developed economies, the influx of immigrants from war-torn regions is also increasing, creating an unexpected yet urgent requirement for liveable spaces. The senior population is also increasing which requires more accessible public infrastructure. These factors are collaboratively expected to drive the global concrete restoration market to fruition in the forecast period.
Quick-Setting Cement Mortar to Open New Avenues of Growth
The recurring demand for robust and long-lasting urban infrastructure is pushing industry stakeholders to develop better types of construction materials. One such innovation is the quick-setting cement mortar. By significantly reducing the waiting on cement (WOC) time, construction projects are completed much faster. Consequently, it has fulfilled the growing requirement for stable infrastructure more effectively. It is particularly useful in situations where extreme environmental conditions give very little leeway for cement to settle. In underwater construction such as river bridges - piers, foundations, pier caps, pile caps, and piles are built using quick-setting cement. An explosive increase in the demand for this cement is set to contribute to the global concrete restoration market expansion.
Asia Pacific to Claim Leadership in Concrete Restoration Market Amidst Paced Urbanisation
Asia Pacific is poised to emerge as the fastest-growing concrete restoration market amidst increasing urbanisation. The APAC region has the highest population with economies such as India and China, this translates into prolonged demand for stable public and residential infrastructure and repair against wear and tear. The spending capacity is also increasing in the region which leads to more construction projects. Restoration projects for old highways, bridges, marine structures, water treatment plants, parking structures, and salt and smelting plants are ongoing in various places in the region. These developments are boding well for the concrete restoration market in the region.
Notable Market Players
Some of the key participants in the global concrete restoration market include Mapei S.p.A (Italy), Sika (Switzerland), Fosroc (UAE), Master Builders Solutions (Germany), Fyfe (US), RPM International (US), BASF SE (Germany), Saint-Gobain Weber S.A. (France), Pidilite Industries (India), and The Euclid Chemical Company (UK).
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Joined: January 21st, 2021
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