Global Self-Healing Concrete Market Highlights 2022 – 2030
The global self-healing concrete market is estimated to garner a large revenue and grow at a CAGR of ~31% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing construction activities around the world, growing need to reduce the structural maintenance of buildings and rising demand for durable constructions. It was calculated that in 2021, the total number of construction projects in the world will increase by almost 6 percent from the previous year. In the United States alone, the total construction spending is evaluated to increase by more than 8% this year. In addition, high return on investment offered by the use of self-healing concrete is another factor expected to drive market growth in the upcoming years. Furthermore, there is a surge in demand for sustainable infrastructural activities which are not only environment-friendly but also highly cost-effective in the long run. This in turn is projected to provide abundant growth opportunities to the market in the near future.
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The market is segmented by type into intrinsic, vascular and capsule-based, out of which, the vascular segment is anticipated to hold the largest share in the global self-healing concrete market on account of the high usage of this type of self-healing concrete at locations where a crack is likely to occur. Along with this, the capsule-based segment is evaluated to witness the highest growth during the forecast period owing to the benefits of this type of concrete such as high strength, ease of convenience to use at a large scale and ability to create concrete matrix. Additionally, on the basis of application, the civil infrastructure segment is assessed to grab the largest share over the forecast period, which can be credited to the increasing number of initiatives by companies to commercialize the development of the product, and strong resistance of this concrete to several chemical and physical factors.
Major Macro-Economic Indicators Impacting the Market Growth
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 & labour 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.
lobal Self-Healing Concrete Market Regional Synopsis
On the basis of geographical analysis, the global self-healing concrete market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of rapidly increasing population, rapid rate of industrialization, and growing economies of countries such as China and India. Apart from these, rising per capita income of emerging economies in the region, low labor cost and high abundance of resources are also projected to drive market growth in the coming years. According to the World Bank, the per capita income of China in 2020 increased up to USD 10,500.4, and the same quantity in India grew up to USD 1,900.7 that year. Moreover, the market in Europe is expected to gather the largest share during the forecast period ascribing to the escalating number of government initiatives supporting the use of self-healing concrete and increasing number of construction-based activities in Germany, France and the United Kingdom.
The global self-healing concrete 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
Market Segmentation
Our in-depth analysis of the global self-healing concrete market includes the following segments:
By Type
- Intrinsic
- Vascular
- Capsule-Based
By Application
- Residential
- Industrial
- Commercial
- Civil Infrastructure
Growth Drivers
- Growing Construction Activities in the World
- Need to Reduce Maintenance Cost of Buildings
Challenges
- High Initial Cost of Self-Healing Concrete
Top Featured Companies Dominating the Market
- Acciona Infraestructureas S.A.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Avecom N.V.
- Basilisk-Contracting BV
- Sika AG
- Hycrete, Inc.
- BASF SE
- COWI A/S
- Penetron International, Ltd.
- Kryton International Inc.
- Devan International Group NV
