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IN THE NEWSDecember, 2021: Building Information Modeling (BIM) to digitize construction by reducing costs and times, and aims at improving efficiency and productivity of construction sector.
January, 2021: Beton Brož to merge with Diton.cz from March 2021. The merged company to unify our business communication and create a unified catalog and product price list.
The global translucent concrete market is estimated to grow at a CAGR of ~40% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing demand for aesthetical products for construction, such as, partition walls, panels, false ceilings, and others. Translucent concrete is lighter, and allows higher inflow of natural light, which makes it ideal for façade construction work. Moreover, this concrete allows light to pass through, which means, one source of natural light can lighten up the whole place, saving significant amount of energy. In addition to this, translucent cement also allows the rooms to heat up with shared heating system, as the heat can pass through the walls. Such factors are estimated to majorly drive the market growth. Further, the adoption of green construction processes, initiatives to reduce energy consumption and rising implementation of zero-waste buildings is anticipated to boost the market growth. For instance, according to the data by the U.S. Environment Protection Agency (EPA), buildings account for 39% of the total energy use, and 68% of the total electricity consumption in the United States. Conscious efforts to reduce negative impact on the environment, is estimated to boost the market growth.
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Furthermore, the ongoing urban development, backed by rising urban population is estimated to boost the market growth. According to the data by the World Bank, 4.352 billion people reside in urban areas, which means 56.15% of the total global population is urban population.
The market is segmented by end-user into residential, commercial, industrial and others, out of which, the commercial segment is anticipated to hold the notable share in the global translucent concrete market over the forecast period. This can be accredited to the higher requirement of partitions in office, banks, or other commercial spaces, along with advantages of translucent concrete in saving energy.
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.
In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government-imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.
On the basis of geographical analysis, the global translucent concrete market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Europe region is estimated to witness noteworthy growth over the forecast period on the back of owing to the stringent government regulations regarding energy conservation and sustainable construction.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period on the back of increasing construction activities in the region, along with rising concerns regarding greenhouse emissions from buildings. Moreover, extensive use of heating systems is another major factor estimated to boost the market growth.
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The global translucent concrete market is further classified on the basis of region as follows:
Our in-depth analysis of the global translucent concrete market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The rising demand for sustainable construction is estimated to primarily drive the market growth.
The market is anticipated to attain a CAGR of ~40% over the forecast period, i.e., 2022 – 2031.
High initial investment is estimated to hamper the market growth.
The North America region is anticipated to provide more business opportunities over the forecast period on the back of rising sustainable construction activities.
The major players in the market are Beton Brož, sro, Pan-United Corporation Ltd., Italcementi SpA, LCT GesmbH, CRE Panel GMBH, Dupont Lightstone ApS, LUCEM GmbH, and Litracon ltd.
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 application, end-user, and by region.
The commercial segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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