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IN THE NEWSFebruary 2021- Cemex launched a new pumpable self-smoothing, levelling screed, named Supaflo Rapide, to its portfolio. The product provides time-saving benefits during installation, while also cutting down drying time significantly.
September 2020- MAPEI introduced a new self-leveling underlayment, Novoplan HFL, that is designed for use on interior concrete and engineer-approved concrete floors
The global self-leveling concrete market is estimated to garner a substantial revenue by growing at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed primarily to the growing number of infrastructural activities associated with the remodeling and restructuring of buildings, especially in developing nations. Along with this, increasing adoption of self-leveling concrete for construction activities, such as preparation of floor surfaces, as a result of decline in overall construction cost, is also expected to drive market growth in the upcoming years. Furthermore, rapidly rising industrialization, and escalating investments to build premium quality building products by companies are projected to offer profitable opportunities to the market in the near future. In 2020, the GDP of the United States, which is the most industrialized country in the world, held a value of more than USD 20,000 trillion. Whereas, China’s GDP amounted for approximately USD 16,000 trillion that year.
The market is segmented by surface into concrete, ceramic tiles, vinyl composition tiles, wood, and others, out of which, the vinyl composition tiles, or VCT, segment is anticipated to hold the largest share in the global self-leveling concrete market. This can be accounted to the surging preference of VCT surface in construction in view of its high dimensional stability and superior impact-resistance. Additionally, on the basis of end user, the commercial segment is predicted to grab the largest share over the forecast period ascribing to the rapidly rising urbanization across the globe. Apart from this, growing construction of commercial complexes, such as shopping malls, educational institutions and office spaces, is also predicted to accelerate the growth of the market segment in the coming years. CLICK TO DOWNLOAD SAMPLE REPORT
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.
Regionally, the global self-leveling concrete market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth and acquire the largest share over the forecast period on the back of the increasing smart city initiatives in the region. According to the Indian Brand Equity Foundation (IBEF), the total allocated investments for the Smart City Mission accounted for a value of USD 28.31 billion in 2020. Of the total 5,331 projects that worth for USD 24.31 billion, 86% of them have been tendered by the same year. In addition, growing number of renovation and reconstruction activities is also expected to drive market growth in the region in the coming years. Moreover, the market in Europe is also projected to occupy significant share during the forecast period owing to the high production of self-leveling concrete in Italy and Germany, and presence of prominent market players in the region.
The global self-leveling concrete market is further classified on the basis of region as follows:
Our in-depth analysis of the global self-leveling concrete market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are growing number of infrastructural activities regarding remodeling and restructuring of buildings, and rapidly rising industrialization globally.
The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022-2031.
High cost of raw materials for producing self-leveling concrete is estimated to hamper the market growth.
Asia Pacific will provide more business opportunities for market growth owing to the increasing number of smart city initiatives in the region.
The major players in the market are Durex Coverings, Inc., Sika AG, CEMEX S.A.B. de C.V., MAPEI SpA, Arcosa Inc., and others.
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.
The market is segmented by type, surface, end user, and by region.
The commercial segment is anticipated to hold largest market size and is estimated grow at a robust CAGR over the forecast period and display significant growth opportunities.
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