Chemicals and Advanced Materials

Concrete Cooling Market Segmentation by Cooling Method (Air, Water, Ice, Liquid Nitrogen, and Others); by Application (Industrial, Infrastructural, and Others); and by End-Use (Highway, Dams, Sea Ports, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • July, 2021: Holcim Ltd launched a range of green concrete, which has at least 30% lower carbon footprint with equal to superior performance.


Global Concrete Cooling Market Highlights over 2022 – 2030

The global concrete cooling market is estimated to grow with ~8% CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing need for concrete cooling in the industrial sector. The hydration of concrete is an exothermic process, which can release massive heat, sometimes up to 200-degrees Fahrenheit. The demand for concrete cooling is estimated to increase significantly, owing to the various disadvantages of using hot concrete, such as, poor tensile strength, unequal density, and quick water evaporation. Poor quality of concrete can create issues with the strength of the structure, which is another major growth factor for the market. Moreover, the market is estimated to further grow on the back of stringent government regulations for the standard of construction materials used in industrial and commercial activities.

Concrete Cooling Market Graph

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The global concrete cooling market is segmented by application into industrial, infrastructural, and others, out of which, the industrial segment is anticipated to hold the largest share in the market over the forecast period. This can be accredited to the crucial need for cooler concrete in industrial activities, as industrial construction includes large pours. If the concrete is hot, the structure will dry unevenly, compromising significantly in its durability and strength. This is estimated to boost the demand for concrete cooling in industrial applications. On the basis of end-use, the highway segment is estimated to hold the highest revenue share throughout the forecast period, owing to the increasing constructions of highways and roads across the globe, backed by the economic development. Roadways are being built rapidly to improve connectivity with remote areas, which is estimated to fuel the growth of this segment.


Major Macro-Economic Indicators Impacting the Market Growth

Refinery-Catalyst-Market

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.


Global Concrete Cooling Market Regional Synopsis

On the basis of geographical analysis, the global concrete cooling market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing construction activities in developing nations, such as, China and India. As per the data by the India Brand Equity Foundation (IBEF), the ministry of Road Transport and Highways has allocated a budget of USD 14.85 billion for FY 2021-22, while the government also aims to construct 23 new national highways by 2025. Moreover, rising demand for concrete cooling for the construction of dams, backed by the growth of hydro energy in this region, is also projected to boost the market growth in the region.

The market in the North America region is anticipated to garner notable market share during the forecast period on account of high expenditure in the public infrastructure, along with the presence of major industries in developed economies, including United States, and Canada. In 2018, the about USD 90 billion were spent on highway and bridge construction in the U.S., which is projected to grow to about USD 105 billion by 2022.

The market in the Middle East region is estimated to garner significant share during the forecast period, owing to the high temperature in the region, along with ongoing infrastructural development in the region.

Concrete Cooling Market Share Graph

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The global concrete cooling market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis


Concrete Cooling Market Graph
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Market Segmentation

Our in-depth analysis of the global concrete cooling market includes the following segments:

By Cooling Method

  • Air
  • Water
  • Ice
  • Liquid Nitrogen 
  • Others

By Application

  • Industrial
  • Infrastructural
  • Others

By End-Use

  • Highway
  • Dams
  • Sea Port
  • Others


Growth Drivers
  • Increasing Need for Concrete Cooling in Industrial Sector
  • Drawbacks of Using Hot Concrete

Challenges

  • Unstable Economy and Unorganized Nature of Construction Sector
  • Lower Demand in Developed Colder Countries


Refinery-Catalyst-Market
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Top Featured Companies Dominating the Market

    • Plersch Kältetechnik GmbH
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • Fujian Snowman Co., Ltd
    • Coldcrete Inc.
    • ConCool Concrete Cooling Systems
    • North Star Ice Equipment
    • The Kirloskar Group
    • LINTEC Corporation
    • Chirag Ice Factory Pvt Limited
    • Recom Ice Systems B.V.
    • Focusun Refrigeration (Shanghai) Corporation 

Key Questions Answered in the Report

1) What are the major factors driving the growth of the concrete cooling market?

Ans: Increasing need for concrete cooling in industrial sector backed by drawbacks of using hot concrete is estimated to boost the market growth.

2) What would be the CAGR of concrete cooling market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2022 – 2030.

3) What are the challenges affecting the concrete cooling market growth?

Ans: Lower demand in colder European and American countries are estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of concrete cooling market in future?

Ans: The market in Asia Pacific region is expected to provide maximum growth opportunities owing to the growing construction activities, baked by economic development in the region.

5) Who are the major players dominating the concrete cooling market?

Ans: The major players in the market are Fujian Snowman Co., Ltd, Coldcrete Inc., ConCool Concrete Cooling Systems, North Star Ice Equipment, The Kirloskar Group, LINTEC Corporation, Chirag Ice Factory Pvt Limited, Recom Ice Systems B.V., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the concrete cooling market?

Ans: The market is segmented by cooling method, application, end-use, and by region.

8) Which segment captures the largest market size in application segment in the concrete cooling market?

Ans: The industrial segment is anticipated to grow at a significant CAGR over the forecast period owing to the requirement of cool concrete for large pour.

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