PUBLISHER: Market Research Future | PRODUCT CODE: 1525923
PUBLISHER: Market Research Future | PRODUCT CODE: 1525923
Global Self-Healing Concrete Market Research Report Information by Form (Intrinsic and Extrinsic), by End-use (Residential, Commercial, Industrial, Civil Infrastructure), and by Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa) -Forecast Till 2027
Over the course of the forecast period, the self-healing concrete industry is expected to increase at a compound annual growth rate (CAGR) of 8.3%. The market for self-healing concrete is characterized by artificially produced self-healing chemicals that has the unique capacity to self-heal cracks and damage. These goods have the ability to automatically or autonomously mend cracks. The key drivers propelling the growth of the self-healing concrete market are the accelerating construction of infrastructure and the increasing rate of urbanization. Concrete, the primary building material in bridges, dams, tunnels, and other structures where it is constantly under stress, is widely used in self-healing concrete. Consequently, the market for this concrete will rise as the development of public infrastructure is given more importance. Furthermore, as self-healing concrete lowers maintenance costs, the rising development of residential and commercial structures is expected to create a considerable demand for it. Furthermore, the market for self-healing concrete will have greater prospects due to the increased emphasis on the use of long-lasting and environmentally friendly building materials.
Amidst indications of a minor recession in the global economy, the construction industry persists in growing at a moderate pace. A small number of nations-China, India, the United States, and Indonesia-will see the most growth; these nations will account for around 58% of the anticipated global expansion. China is anticipated to top the construction industry by the end of the prediction period, followed by India, which will overtake Japan in the near future, and Indonesia, which will overtake Germany, the United Kingdom, and Japan to rank fourth. Renovations drive the short- and medium-term expansion of the construction industry in North America and Europe. The construction industry's expansion is mostly being driven by the developing areas' expanding urban populations. Population growth, rising residential construction, and anticipated investments in infrastructure and industrial development are some of the factors driving the sector's expansion in developing nations. The demand for new residential structures and the expanding construction industry are driving the development of self-healing concrete, which provides superior quality. Given the overall long-term forecast for the global construction sector, it is anticipated that demand for self-healing concrete would rise.
Insights on Market Segments
The Self-Healing Concrete Market is divided into Intrinsic and Extrinsic segments based on the form.
The Self-Healing Concrete Market has been divided into Residential, Commercial, Industrial, and Civil Infrastructure segments based on the final application.
Regional Perspectives
United States, Canada, and Mexico make up North America. The UK, Germany, France, Italy, and the remainder of Europe make up Europe. China, India, Japan, and the remainder of Asia-Pacific make up Asia-Pacific. Brazil, Argentina, and the remainder of South America make up South America. North Africa, South Africa, Saudi Arabia, the United Arab Emirates, Turkey, and the rest of Middle East and Africa make up Middle East and Africa. Europe held the biggest market share in 2022 and is predicted to grow at the fastest rate over the next several years. The self-healing concrete market is growing due to the great potential for consumption and the expanding production capacities in the area. Interest in self-healing building materials has grown in the area.
The annual cost of infrastructure in Europe, including tunnels and earth retaining walls, is estimated to be around 5 billion euros. It is thought that self-healing techniques, especially bacterial self-healing, offer a viable way to lower the high cost of upkeep and repairs for concrete infrastructures. It is possible to save up to 120 million euros a year on maintenance alone.
North America is expected to grow at a revenue-based compound annual growth rate (CAGR) during the forecast period, holding the second-largest position in the self-healing concrete market. The need for self-healing concrete in construction operations is expected to be supported by an increase in renovations in the US and Canada.
In terms of the market for self-healing concrete, Asia Pacific is a profitable region. It is anticipated that the need for self-healing concrete in building operations will be supported by the rapid infrastructure development in Thailand, Singapore, India, and China.
Principal Players
MBCC Group, Xypex Chemical Corporation, Kryton International Inc., RPM International, Hycrete Inc., Penetron, Basilisk (Netherlands), Akzo Nobel N.V. (Netherlands), Sika AG (Switzerland), and GCP Applied Technologies are a few of the major competitors in the market.
SECTION I: EXECUTIVE SUMMARY AND KEY HIGHLIGHTS
SECTION II: SCOPING, METHODOLOGY AND MARKET STRUCTURE
SECTION III: QUALITATIVE ANALYSIS
SECTION IV: QUANTITATIVE ANALYSIS
SECTION V: COMPETITIVE ANALYSIS