North America Rapid Strength Concrete Market size has been projected to register a CAGR of more than 5% over 2017-2024. Currently, many governmental bodies have been focusing on the improvement of internal mobility facilities, on the grounds of which they have been launching new projects for constructing freeways and highways.
The California Department of Transportation in 2015, for example, launched one of the largest slab replacement projects in North America that required precast concrete pavement slabs for rapid highway constructions. Thus, the increasing number of state road construction projects across North America will push the regional rapid strength concrete industry share.
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Trumboo Industries’ yesteryear launch of a new variant in rapid strength concrete market is a major instance depicting the impact of the construction sector on this business space. In order to consolidate its position in the expanding rapid strength concrete industry, the Indian cement manufacturing company launched a new product that possesses the capability to gain more strength in a short time span quickly, leading to major time saving.
Indeed, having recognized the massive growth in the construction sector, other players such as BASF and Bostik have also been continuously involved in innovative product developments, which will also have a favorable influence on rapid strength concrete market trends. Not to mention, the growing investments by regional governments in infrastructure development such as railways, roads, and buildings have also been fueling product demand on large scale, further expanding the scope of rapid strength concrete industry.
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The deployment of rapid strength concrete, incidentally has helped numerous construction companies reduce their capital expenditure. For instance, one the UK based highway management company, Kier Highways, merely a year ago, successfully saved around GBP 35 million from the government allotted budget in a single project with the use of rapid strength concrete. Using the material for highway repair enabled Kier to prevent lane closure, since the concrete possessed the ability to dry faster, enabling the construction crew to complete the work much more quickly than it would have taken otherwise.
Speaking of yet another similar incidence, US-based Boxley Materials Inc. used BASF’s patented concrete system to invent a high compressive strength concrete that possesses very less setting time, in order to the minimize time required for lane closure. The increasing awareness among construction companies regarding the productive benefits of this concrete type will indeed boost rapid strength concrete market share. Not to mention, the increasing investments in technology innovations to accomplish local building demands and promote sustainable construction will further propel rapid strength concrete industry outlook positively.
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At present, sustainability is becoming more and more important in the designing and construction of transportation infrastructure. Notable players in rapid strength concrete industry have been continuously working on R&D programs to minimize the impact of concrete on the environment with the development of next-generation sustainable cement. Additionally, with the soaring annual prices of construction material, cement manufacturers have also been adopting several business strategies to strengthen their business position by manufacturing affordable construction materials. Indeed, the shifting trends toward development of low cost, eco-friendly, and high-performance cement are certain to extensively impact the revenue graph of rapid strength concrete market, which is slated to remain exponential over the years ahead.
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