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(Publishing-NewsWire.com, August 28, 2021 ) Ultra High Performance Concrete Market size is expected to be valued at $565 million by the end of the year 2026 and the ultra-high performance concrete industry is set to grow at a CAGR of 8.6% during the forecast period from 2021-2026. The increase in the growth of the ultra-high performance concrete market is due to the increase in the need for durable and high strength concrete for a strong base in buildings and other applications such as piers, marine applications (such as anchors), and machinery.
Calcium silicate hydrate is used in the production of ultra-high performance which helps in enhancing the performance of the concrete and increases the mechanical properties and abilities manifold as compared to other normal concrete. Since ultra-high performance concrete are made with standard concrete products such as limestone, nanomaterial, quartz, sand, high range water reducers, reactive powders etc., it has various superior mechanical properties such as high strength, good insulation and durability. Ultra high performance concrete is also known as reactive powder concrete due to the superior properties provided by it.
Amid the Covid-19 pandemic, the growth of ultra-high performance concrete market has drastically slowed down. The production of ultra-high performance concrete reduced to a great deal which in turn affected the operation of the ultra-high performance market and disrupted other activities such as marketing, supply chain management and sales of the companies dealing in ultra-high performance concrete products, leaving those companies in huge losses. Furthermore, restrictions on import and export activities due to the economic lockdown across the globe, affected the growth of the ultra-high performance market. However, the ultra-high performance industry is set to grow in terms of value by the year end 2021.
Ultra High Performance Concrete Market Segment Analysis – By Type
Dry ultra-high performance concrete segment held the largest share of 34% in the ultra-high performance concrete market in the year 2020. Dry concrete is the preferred type of concrete as it is gives the perfect density to the concrete which helps in providing high-strength and durability. Dry concrete has a low water to cement ratio, which helps in maintaining the consistency of the concrete enhances the quality of the concrete.
Dry concrete has zero slumps which helps in easy pouring and quick drying of the concrete. Dry concrete is highly used in the construction industry, which drives the growth of dry concrete. This is also why it is called reactive powder concrete. The increase in the construction activities is driving the demand for dry ultra-high performance concrete products. For instance, the construction activities in India have grown 12% in the year 2020 more than the previous two years.
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Ultra High Performance Concrete Market Segment Analysis – By Product
Quartz Flour segment held the largest share of 31% in the ultra-high performance concrete market in the year 2020. Quartz flour is one of the standard concrete product which is used in the manufacture of ultra-high performance concrete. Quartz flour is chemically inert, which makes is safer since it does not react adversely to chemicals and other high temperature reactions. Quartz helps in making the concrete a fine mixture and retain the correct consistency. It is highly used in heavy engineering construction due to the properties such as high strength and durability. The market size of heavy engineering construction in the year 2020 amounted to US $ 21 billion in the USA. This is contributing to the growth of the ultra-high performance concrete market.
Ultra High Performance Concrete Market Segment Analysis – By Application
Buildings segment held the largest share of 40% in the ultra-high performance concrete market in the year 2020. The recent developments in the construction industry where high-end buildings are constructed using modern technologies has led to the surge in the demand of ultra-high performance concrete as it is extensively used in heavy engineered buildings such as skyscrapers, dams, bridges, flyovers, coastal engineering etc. The revenue of heavy engineering industry stood at US $ 92 billion in India alone, which is one of the biggest factor driving the growth and demand of ultra-high performance concrete.
Ultra High Performance Concrete Market Segment Analysis – By End-Use Industry
Building and construction segment held the largest share of 44% in the ultra-high performance concrete market in the year 2020. The construction industry is estimated to reach US$ 8 trillion by 2025 which is a progressive sign for the building and construction industry. The increase in the construction industry is directly impacting the growth of ultra-high performance concrete in terms of volume. The investments made by governments in the construction sector is also boosting the growth of the construction sector. For instance, in the Union Budget of 2020-2021 made by the Indian government, the government allocated US $6.85 billion (Rs. 50,040 crore) to Ministry of Housing and Urban Affairs. This is eventually contributing to the growth of ultra-high performance concrete market.
Ultra High Performance Concrete Market Segment Analysis – By Geography
Asia-Pacific region held the largest share of 36% in the ultra-high performance concrete market in the year 2020. The increase in building and construction activities in countries like China, India and South Korea in the APAC region is expected to drive the ultra-high performance concrete industry in the Asia-Pacific region. The revenue of the building & construction industry in China reached US $2.5 trillion in the year 2020, which is further expected to drive the growth of the ultra-high performance concrete industry in the APAC region. The increase in construction projects and government schemes in the countries like China and India is driving the ultra-high performance concrete market.
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Ultra High Performance Concrete Market Drivers
Increasing construction activities coupled with government investments
The increase in the construction activities such as building, repair and maintenance is one of the huge factors driving the demand of ultra-high performance concrete market. These activities coupled with the increase in government investments is leading to the rise in the demand for ultra-high performance concrete market. For instance, the government of India has sanctioned projects for Rs.750 billion in the construction sector, which is driving the construction sector which in turn is contributing to the increase in demand for ultra-high performance concrete market.
Superior properties like durability and anti-corrosion
The superior properties of ultra-high performance concrete products such as high compressive strength, high strength, durability and high resistance to corrosion and other chemical reactions elevates the biggest driver of the ultra-high performance concrete market. Ultra-high performance concrete does not corrode even under extreme conditions and exposure, making it one of the best property of ultra-high performance concrete. These superior qualities of ultra-high performance concrete allows it to be known as reactive powder concrete.
Ultra High Performance Concrete Market Challenges
High cost of investment
One of the biggest challenge of ultra-high performance concrete market is the high cost of investment. It requires the installation of high-end machineries (such as applications like blending equipment etc.) which increases the cost of operation. Small-time businesses and establishments cannot afford to invest so much for concrete, making them opt for normal concrete than ultra-high performance concrete, which is one of the biggest challenge for the ultra-high performance concrete market.
Ultra High Performance Concrete Market Landscape
New product launches, investments, acquisitions and mergers, collaborations and expansions are some of the key strategies adopted by players in the Ultra-High Performance Concrete Market. Major players in the Ultra-High Performance Concrete Market are LafargeHolcim, SIKA Group, Gulf Precast Concrete Co. L.L.C, Cemex, Vicat, UltraTech Cement Ltd., ELO Concrete, Heidelberg Cement AG, ceEntek Pte Ltd and Illinois Tool Works Inc among others.
In February 2021, ACC ready mix launched a low-carbon range of concrete; the Green Concrete for high-performing, sustainable and circular construction.
In December 2020, Technique Concrete, Arteon, Mandelli-Setra and Ideaplast merged and formed Tam Group. TAM Groupe expertly combines specialist manufacturing with a comprehensive portfolio of products for the concrete construction industry.
Asia-Pacific market held the largest share in the ultra-high performance concrete market owing to the growth of the construction industry in countries like China, India and South Korea in the APAC region.
One of the significant reasons contributing to the growth of the ultra-high performance concrete industry is the benefits provided by the reactive powder concrete such as high strength and durability.
Ultra-high performance concrete is highly resistant to corrosion and other chemical reactions which is eventually increasing the demand for ultra-high performance cocnrete market.
The covid-19 pandemic has affected the ultra-high performance concrete market in terms of stock over piling which eventually lead to the outdating of the inventories, causing huge losses to the ultra-high performance concrete market.
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