Rapid Strength Concrete Market Size By Strength (0 To 40 MPa, 40 To 80 MPa, Above 80 MPa), By Application (Building, Infrastructure, Pavements, Concrete Roads), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Landsc

Rapid Strength Concrete Market Size By Strength (0 To 40 MPa, 40 To 80 MPa, Above 80 MPa), By Application (Building, Infrastructure, Pavements, Concrete Roads), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2021 - 2027

The rapid strength concrete market is anticipated to witness robust growth by 2027 owing to the expanding construction activities around the world. With rising demand of rapid strength concrete from various infrastructural applications, the market is expected to see a notable amount of growth over the coming years.

Rapid strength concrete is estimated to provide significant advantages over its more traditional counterparts. This aspect has driven several market players to develop new applications for rapid strength concrete, which will not only boost their position in the overall market but will also result in new advancements in the area.

These changing trends toward the advancement of eco-friendly, low-cost, and high-performance cement is estimated to have a significant impact on the revenue trend of the industry.

Key industry players are deliberately investing in capacity development with mergers & acquisitions to expand their global footholds. In December 2020, Sika finalized a growth equity investment deal with CiDRA Concrete Systems Inc., headquartered in Eden Prairie, Minnesota, to augment its existing global partnership.

CiDRA excels in Internet of Things (IoT)-based digital systems for monitoring concrete qualities during transportation. Sika, and CiDRA already serve customers in the United States and Canada, with the company planning to cater to concrete manufacturers in other nations soon.

The rapid strength concrete market has further been segmented on the basis of strength, application, and region.

Based on strength, the market has further been divided into 0-40 Mpa, 40-80 Mpa, and above Mpa. 0-40 MPa is estimated to grow with a CAGR over 7.8%, in terms of volume, through the analysis timeline. This is owing to the high mechanical strength and chemical resistance of the 0-40 MPa strength rating concrete.

In terms of application, the market has further been bifurcated into building, pavements, infrastructure, concrete roads, and others. Infrastructure segment registered a volume share around 23.30% in 2020. It is likely to grow at a CAGR approximately of 8.8% through the forecast timeline owing to rising applications in airport, bridges, and tunnels among others.

In addition, the others segment is also slated to register notable revenue gains during the projected time period. The segment generated more than USD 8 billion in 2020 and is expected to surpass USD 12 billion by 2027 owing to rising demand for high performance airfields, and industrial flooring among others.

From the regional point of view, LATAM is projected to grow with a CAGR of approximately 7.5% in terms of volume over the forecast timeline.

Meanwhile, MEA is also expected to grow notably by the end of the study period. The segment accounted for approximately 8.22% of the market share in 2020 and is forecast to reach a valuation of more than USD 8 billion by 2027. The immense growth is owing to the increasing use of sustainable building goods for construction operations in the region.