Ultra High Performance Concrete Market to Reach USD 574.7

2022-06-16 04:37:32 By : Ms. Shirley Sheh

June 07, 2022 02:29 ET | Source: Fortune Business Insights Fortune Business Insights

Pune, India, June 07, 2022 (GLOBE NEWSWIRE) -- The ultra high performance concrete (UHPC) market size stood at USD 371.0 million in 2021. The market is estimated to surge from USD 388.3 million in 2022 to USD 574.7 million by 2029, at a 5.8% CAGR during the forecast period. Fortune Business Insights™ has deep-dived these inputs in its latest research report, titled, “Ultra High-Performance Concrete (UHPC) Market, 2022-2029.”

According to the study, ultra-high-performance concrete mixes have become sought-after in civil engineering projects, including structural rehabilitation and highway infrastructure applications. The trend for innovative designs and architectural structures, including unitized curtain walls, cantilever balconies, and floating stairs will encourage leading companies to inject funds into the landscape.

Road & Bridge Construction to Gain Prominence with Rising Demand to Expand Infrastructure

With respect to application, the market is segmented into building construction, road & bridge construction, military construction and others. Stakeholders expect the road & bridge construction segment to grow with bullish investments in infrastructure expansion.  

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Dip in Construction Activities Derailed Industry Growth

The emergence of the COVID-19 pandemic did not augur well for business outlook as construction activities witnessed a notable disruption. Shortage of raw materials and trade restrictions jolted most industries globally. Some factors, such as logistic challenges, lack of construction materials, and postponement of construction activities challenged leading companies gearing to boost their portfolios. Meanwhile, investments in advanced solutions could help build a resilient supply chain.

Ultra High Performance Concrete (UHPC) Market Report Scope & Segmentation:

Major Players Profiled in the Report:

Slurry Infiltrated Fibrous Concrete to be Sought-after with Bullish Investments in Construction Sector

In terms of type, the market is segmented into Compact Reinforced Composite (CRC), Slurry Infiltrated Fibrous Concrete (SIFCON), and Reactive Powder Concrete (RPC). The slurry infiltrated fibrous concrete segment will account for a considerable share of the global market due to rising demand for residential and commercial construction activities.

The report offers a comprehensive perspective of the market size, share, revenue, and volume. It has deep-dived into SWOT analysis. Quantitative and qualitative assessments have provided a holistic view of the market. The primary interviews validate assumptions, findings, and the prevailing business scenarios. The report also includes secondary resources such as annual reports, press releases, white papers, and journals.

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Buoyant Demand from Construction Sector to Bolster Industry Growth

With a surge in public and private investments in infrastructure and building projects, the Ultra High Performance Concrete (UHPC) market share could receive major impetus during the forecast period. Construction projects have gained ground across the U.S., India, and China, boding well for the industry outlook. To illustrate, in November 2021, the U.S. government contemplated pouring USD 1.2 trillion on infrastructure projects, such as a range of civil construction projects across the country. The bill reportedly includes USD 110 billion for bridges, roads, and other major infrastructure projects. Ultra high performance concrete suppliers are slated to invest in construction activities to tap into markets. However, rising capital costs could dent the industry growth in the ensuing period.

North America to Witness Investments Abound with Rising Bridge Construction

Expansion of road and bridge construction activities across the U.S. and Canada could encourage leading companies to invest in the region. North America market size was pegged at USD 127.8 million in 2021 and will witness a similar upward trend due to robust government policies. Governments are expected to prioritize upgrading existing infrastructure, auguring well for the regional outlook.

The Asia Pacific Ultra High Performance Concrete (UHPC) market growth will gain ground in the wake of burgeoning urbanization and expanding infrastructure activities. Emerging economies, such as China and India, exhibited resilience to the COVID-19 pandemic and could gain impetus from the economic rebound. Moreover, heightened awareness about UHPC usage across the commercial and residential sectors will trigger investments across the region.

Industry players anticipate Europe to emerge as a favorable investment hub during the assessment period. The growth is primarily attributed to an increased demand for road construction and bridges. Moreover, burgeoning industrialization and rising footfall of buildings have further encouraged leading companies to foster their portfolios.

Leading Players Invest in Collaboration to Bolster Footprint

Prominent players could inject funds into mergers & acquisitions, product rollouts, technological advancements, and R&D activities. Besides, major companies could invest in innovations and product offerings in the ensuing period.

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