Ultra-high Performance Concrete Market Insights, Graph, Segmentation, Applications, Top Players, Regional Dynamics and Forecast
The ultra-high performance concrete market is projected to grow from USD 369 million in 2019 to USD 550 million by 2024, at a Compound Annual Growth Rate (CAGR) of 8.3% during the forecast year. The demand for ultra-high performance concrete market is owing to the high growth of the construction industry across the globe. Factors, such as the rise in construction activities, increasing number of renovation & remodeling activities, and the growing population & urbanization, drive the demand for ultra-high performance concrete.
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Many large players dominate the ultra-high performance concrete market. Some of the players include LafargeHolcim (Switzerland), Cemex S.A.B. de C.V. (Mexico), ACC Limited (India), Vicat (France), Sika AG (Switzerland), U.S. Concrete, Inc. (US), MC-Bauchemie Müller GmbH & Co. KG (Germany), Gulf Precast Concrete (UAE), Ceentek (Singapore), TAKTL (US), and Elementbau Osthessen GmbH & Co., ELO KG (Germany). These players have adopted various growth strategies, such as mergers & acquisitions, expansions, investments and divestitures, partnerships, agreements, and joint ventures, to increase their market presence and enhance their product portfolios.
Mergers & acquisitions accounted for the largest share of all the strategic developments that took place in the ultra-high performance concrete market between April 2015 and February 2019. Key players such as LafargeHolcim (Switzerland), ACC Limited (India), Sika AG (Switzerland), Vicat (France), and U.S. Concrete (US) adopted this strategy to strengthen their product portfolios, expand their market presence, and enhance their growth prospects in the ultra-high performance concrete market.
LafargeHolcim (Switzerland) is one of the leading players in the building materials and solutions, serving masons, builders, architects, and engineers, globally. The company offers a wide range of building materials, including cement, aggregates, and ready-mix concretes. The company has a strong global presence in around 80 countries, with 270 cement and grinding plants, 663 aggregate plants, and 1448 ready mix concrete plants operating globally. It has adopted several growth strategies, such as acquisitions, expansions, partnerships, and agreements, to enhance its market presence. For instance, in June 2019, Holcim Philippine, a subsidiary of LafargeHolcim, completed the expansion of its plant in La Union, Philippines. With this strategy, the company increased its production capacity at the facility from 1 million tonnes per year to 1.8 million tonnes to increase its customer base.
Sika AG (Switzerland) develops and markets various admixtures and additives utilized in concrete, cement, and mortar production. Through its wide product portfolio, the company serves the demand from the construction, industrial, marine, and automobile markets. The company offers high-strength concrete; and high-performance and ultra-high performance concrete. Sika’s constant adoption of mergers & acquisitions and expansion strategies further enhances its global presence and strengthens its production capacity. With the help of these strategies, the company has been able to increase its global production facilities as well as customer base in multiple countries, further strengthening its market position.
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The Asia Pacific region is projected to grow at the highest rate in the ultra-high performance concrete (UHPC) market, in terms of both value and volume, from 2019 to 2024. Factors such as the increasing number of new housing units and huge investments in the infrastructural sector are expected to drive the UHPC market. Also, the increasing demand in China, Japan, Malaysia, South Korea, and other countries, due to the tremendous growth of construction opportunities in these countries, has also driven the market for UHPC.
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