Self-Leveling Concrete Market Forecasts to 2028 – Global Analysis By Concrete Type (Toppings, Underlayment), End User (Residential Construction, Commercial Construction), and By Geography
According to Stratistics MRC, the Global Self-Leveling Concrete Market is accounted for $6.59 billion in 2022 and is expected to reach $9.73 billion by 2028 growing at a CAGR of 6.7% during the forecast period. Self-leveling concrete is typically used to create a flat and smooth surface with a compressive strength similar to or higher than that of traditional concrete prior to installing interior floor coverings.
According to the National Development and Reform Commission of China, the Chinese government approved 26 infrastructure projects at an estimated investment of about USD 142 billion in 2019 which are expected to be completed by 2023. The Indian government has allocated USD 63 billion for the infrastructure sector in 2019-20 and is planning to spend USD 1.4 trillion over the next five years. Furthermore, the construction industry in India has received a major boost by the investment of USD 1.4 billion through private equity and venture capital investments during October 2019. These factors, coupled with government support, are contributing to the increasing demand for the self-leveling concrete.
Market Dynamics:
Driver:
Increasing industrial and construction activities
The growing industrial and construction activities have contributed to the increase in demand for the market. The number of activities in the construction industry is high, such as renovation and re-construction which involves self-leveling concrete as a basic raw material to finish the activities. The construction industry has been on the rise in the present days and it has led to high demand for concrete and related products.
Restraint:
High cost of raw material
The high cost of raw materials required for self-leveling products is one of the major restraints witnessed in the market. The ingredients necessary for self-leveling products such as polymer-based compounds and spreaders are expensive. Apart from this, the grout material is added during the self-leveling process to fill the area beneath the slab across holes drilled through the surface. This also increases the cost of the process; thereby, hampering the market growth.
Opportunity:
Rapid industrialization
Modern-day construction has changed and upgraded in many ways. The industrialization has given birth to the construction industry, cement industry, and other related industries as well. Eventually, the rapid industrialization led to an increase in construction activities, which in turn has led to the growth of concrete and related products. The increase in the number of construction activities is increasing the demand for the market. Self-leveling concrete provides a lot of advantages such as fast curing, smoothness, and improved surface space which is why it is the preferred type of concrete in the construction industry in the present day.
Threat:
Complex nature
Due to the complex nature of self-leveling concrete, the application of the product requires experts that can understand the aforementioned properties of the product and handle it accordingly. However, since this limits the product's demand in the market, the same factor could be concluded as a market restraint for the global market.
Underlayment segment is expected to be the largest during the forecast period
Underlayment segment is expected to be the largest during the forecast period, as it is a protective material that is placed on the top surface of the ground. It helps to reduce water penetration and acts as a cushion for weak soil. The product also has high thermal insulation properties, which help in retaining heat during winters and avoiding cold in winter seasons.
The Commercial construction segment is expected to have the highest CAGR during the forecast period
The Commercial construction segment is expected to have the highest CAGR during the forecast period. The construction of new commercial buildings and renovations and restructuring of existing commercial buildings are anticipated to drive the market in the future. Self-leveling concrete has several advantages, including quick-drying, smoothness, and increased surface area, which is why it is the favored type of concrete in today's building sector. As a result, growing industrialization and rapid growth in the construction sector could be recognized as primary drivers of the market.
Region with highest share:
The Asia Pacific is projected to hold the highest market share. The increase in demand for commercial and residential projects in these countries, as well as government initiatives to establish industrialization centers, educational institutes, and health care institutes, would drive demand for self-leveling concrete in these countries. The province has been witnessing rapid urbanization and industrial growth, which in turn, has led to an increase in construction activities over the past few years. Additionally, increasing disposable income levels and a growing population is likely to contribute to sustainable economic growth over the next few years.
Region with highest CAGR:
Europe is projected to have the highest CAGR, Italy and Germany are the major countries in the Europe market. The growth of the Europe market can be accredited to the rise in construction activities, followed by the growing renovation and re-construction market in the province. These factors are anticipated to drive the market in the coming years.
Key players in the market:
Some of the key players profiled in the Self-Leveling Concrete Market include The Quikrete Companies, Inc, TCC Materials, Sakrete, Saint-Gobain S.A., Mapei S.p.A., Laticrete International, Inc., Lafargeholcim, Harricrete Ltd., Fosroc, Flowcrete, Edison Coating, Inc. , Durex Coverings, Inc., Durabond Products Limited, Duraamen Engineered Products, Inc. , Dayton Superior Corporation, CTS Cement, Arkema Group, Ardex Group, ARDEX Group, W. R. Meadows, Inc.
Key developments:
In June 2020: Sika AG Groups recently acquired Modern waterproofing group, Egypt on June 8th 2020. This acquisition supplements and enhances the product portfolio of Sika Egypt and offers new opportunities for growth in the Egyptian Construction market.
In August 19, 2020: Tremco Construction Products Group (CPG), announced that it provides solutions for every aspect of the building enclosure, announced Flowcrete India's acquisition. Flowcrete India Private Limited has recently changed its business name to ""Tremco CPG (India) Private Limited"" as part of its attempts to match the global identity.
In February 2019: CHRYSO acquired Cemexa, a major player in the cement industry in France. It also acquired the Cemexa's Cemfloor and Mobicem ranges strengthening its overall position in France and abroad.
Concrete Types Covered:
• Toppings
• Underlayment
End Users Covered:
• Residential Construction
• Commercial Construction
End Users Covered:
• Household
• Industrial
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
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