PUBLISHER: The Business Research Company | PRODUCT CODE: 1427769
PUBLISHER: The Business Research Company | PRODUCT CODE: 1427769
Crack-free concrete, achieved through the use of an expanding agent and adequate wet curing, is a common choice for industrial flooring applications, especially when omitting wet curing and utilizing control joints.
The primary categories of crack-free concrete include traditional aggregate, lightweight aggregate, and other variations. Traditional aggregates encompass inert granular elements such as sand, gravel, or crushed stone mixed with water and Portland cement to form concrete blocks. Diverse mix designs are employed, incorporating additives such as shrinkage-reducing agents and shrinkage-compensating cement, along with various reinforcements such as carbon nanofibers, asphalt, rubber, and more. These tailored solutions cater to multiple applications across industries, construction, and related sectors.
The crack free concrete market research report is one of a series of new reports from The Business Research Company that provides crack free concrete market statistics, including crack free concrete industry global market size, regional shares, competitors with a crack free concrete market share, detailed crack free concrete market segments, market trends and opportunities, and any further data you may need to thrive in the crack free concrete industry. This crack free concrete market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The crack free concrete market size has grown strongly in recent years. It will grow from $134.2 billion in 2023 to $142.47 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The expansion observed during the historical period can be credited to infrastructure development initiatives, urbanization trends, population expansion, heightened emphasis on sustainable construction practices, the enforcement of rigorous building codes and standards, and a rising demand for high-performance concrete.
The crack free concrete market size is expected to see strong growth in the next few years. It will grow to $175.56 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The anticipated growth in the forecast period can be linked to the increasing significance of resilient structures, a higher uptake of fiber-reinforced concrete, escalating construction activities in seismic-prone regions, and the implementation of improved quality control measures. Key trends projected for this period encompass the development of advanced admixtures aimed at mitigating cracks, ongoing innovations in concrete mix designs, the integration of crack monitoring technologies, the heightened importance of precise curing techniques, and continued research into self-healing concrete solutions.
The expansion of the construction industry is anticipated to be a key driver for the crack-free concrete market. Construction activities, involving the creation, modification, or repair of infrastructure, have been on the rise. Crack-free concrete, essential for constructing robust structures such as bridges, dams, highways, and industrial facilities, is gaining prominence. As of September 2021, a report by Oxford Economics indicated that global construction output, valued at $10.7 trillion in 2020, is projected to grow by 42% to reach $15.2 trillion by 2030. This growth underscores the significant role played by the construction industry in propelling the crack-free concrete market.
The crack-free concrete market is expected to benefit from increased investments in infrastructure projects. Infrastructure investments, crucial for economic development, climate resilience, and improving basic amenities, are driving the demand for crack-free concrete. Notably, government reports, such as the one from the UK's Department of Transport in June 2022, highlight substantial investments exceeding £160 million. These investments aim to support local economies and specific initiatives that, in turn, alleviate traffic congestion and yield considerable economic benefits, reaching £659.3 million ($876.5 million). The growing focus on infrastructure development is a key factor propelling the crack-free concrete market.
Product innovation stands out as a pivotal trend in the crack-free concrete market, with major companies prioritizing the development of cutting-edge products. An illustration of this trend is evident in Jogani Reinforcement's introduction of polyfiber 3S in October 2021. This advanced micro-synthetic fiber, designed for durable and crack-free infrastructure in India, ensures high standards and durability across all construction applications. By providing tensile reinforcement and supporting concrete in all three dimensions, polyfiber 3S enhances the ductility of mortar or concrete, fortifying structures against cracks and ensuring longevity.
Companies in the crack-free concrete market are investing in technological innovations such as crystalline waterproofing technology to cater to evolving consumer needs. An exemplary instance is the June 2021 launch of ConcreTo CWT Plus by Nuvoco Vistas Corp. Ltd., an India-based construction material company. This high-performance concrete, incorporating crystalline waterproofing technology, excels in water and crack resistance. By actively reacting with moisture in the concrete and materials used in cement hydration, ConcreTo CWT Plus forms insoluble crystalline substances throughout the capillary system. This process reduces water permeability, repairs microcracks, and strengthens the concrete internally, contributing to enhanced water resistance and reduced maintenance costs. The incorporation of such innovative technologies underscores the commitment of major companies to meet the evolving demands of the crack-free concrete market.
In August 2021, Vulcan Materials Company, a prominent US manufacturer specializing in crack-free concrete and various construction materials, completed the acquisition of U.S. Concrete Inc. for an undisclosed sum. This strategic move has significantly bolstered Vulcan Materials Company's aggregates-centered operations by incorporating the complementary strengths and market presence of both entities. The acquisition aligns with their shared commitment to operational innovation. As a result, Vulcan is anticipated to achieve amplified scale within the aggregates market and extend its geographical footprint into promising emerging urban areas, thereby enhancing its ability to cater to a broader client base. U.S. Concrete Inc., a US-based firm renowned for its concrete and aggregates production, is a key addition following this acquisition.
Major companies operating in the crack free concrete market report are BASF SE, Dow Chemical Company, Holcim, CRH Concrete A/S, HeidelbergCement, Cemex S.A.B. de C.V., Sika AG, Vulcan Materials Company, MDU Resources Group Inc., RPM International, Martin Marietta Materials, Votorantim Cimentos, Mapei S.p.A., W. R. Grace & Co.-Conn., Charah Solutions Inc., The Euclid Chemical Company, Xypex Chemical Corporation, Kryton International, Penetron International, Oscrete Construction Products, CarbonBuilt, Fosroc, Akzo Nobel N.V., Hycrete Inc., GCP Applied Technologies, Ameron International Co., Buzzi Unicem
North America was the largest region in the crack free concrete market in 2023. The regions covered in the crack free concrete market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the crack free concrete market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The crack-free concrete market consists of sales of epoxy resin injected, polyurethane injected, and acrylate resin injected crack free concretes. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Crack Free Concrete Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on crack free concrete market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for crack free concrete ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The crack free concrete market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.