A large number of macro-economic factors which are closely linked with construction domain, needless to say, has left a perpetual influence on the Self-Compacting Concrete Market dynamics. For instance, the demographic structure across GCC countries had wide range implications on the construction sector, which by extension has soared up the demand for self-consolidating concrete. Reports claim, the GCC belt has been one of those few regions which have observed a tremendous economic boost post the financial crisis in 2008, with a record of GDP growth of almost 24% over the period of 2008-2013.
As per a report brought forth by the Centre for Economic and Business Research, within the span of half a decade (2008-2013), the population of GCC countries had risen by almost 20%, which is claimed to be six times faster than the growth rate that was observed in U.S. and U.K. The meteoric rise of self-compacting concrete industry demand across this belt is thus quite vividly coherent, given the extensive proliferation of construction activities in response to the thriving population growth.
One of the most remunerative, renowned, and rapidly evolving business spheres of recent times, self-compacting concrete market has been phenomenally influenced by the changing trends of construction industry. Self-compacting concrete, of late, has become an integral component of modern construction activities owing to some of its excellent beneficiary features like high flowability and segregation resistance. In response to the extensive use of this material in the evolving constriction sector, self-compacting concrete industry size is anticipated to witness a massive proliferation in the forthcoming years. Statistics further can be placed as an affirmation to the aforementioned declaration- the overall construction spending in the year 2015, was almost around USD 7 trillion, and is slated to exceed USD 13 trillion by the end of 2023.
Self-compacting concrete Industry has indeed brought a revolution in the construction sector, inherently fueled by its ability to achieve full consolidation without any kind of mechanical vibration and compromise on consistency of quality. With the deployment of SCC getting more pronounced in constructional projects, the requirement of R&D activities to exploit its full potential has become even more crucial.
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In fact, recently, self-compacting concrete market players are heavily engaging in diversifying the product matrix in sync with the sustainability and environmental viability trends. In this regard, a new concept, so-dubbed as Eco-SSC or Eco-friendly self-compacting concrete, claimed to possess low cement content, is already introduced in Asia and Europe. The fact that Eco-SSC is mainly manufactured by aggregate gradation, makes it the most suitable option for majority of the constructional activities. In tandem, a plethora of governmental standardization, growing consumer consciousness about environmentally viable buildings, and green certification, collectively indicate ‘Eco-SSC’ to be the next disruptive trend that would influence self-compacting concrete market growth.
Companies engaged in self-compacting concrete market are concentrating on forging strong alliance to come up with innovative sustainable solutions. Citing a latest instance, Tarmac, one of the most acclaimed U.K. based leading sustainable materials group, has recently acquired remaining 50% share of Scottish Power under its long-standing ScotAsh joint venture.
Reportedly, through this deal, the U.K. based giant would get the full ownership of ScotAsh. Experts deemed this move to be highly strategic from Tarmac’s perspective, with regards to its aim of expanding its customer base with cutting-edge solutions, leveraging the superfluity of combined expertise of both the organizations. With the world treading on the path of sustainability trends, the room for evolution of self-compacting concrete industry is huge. Global Market Insights, Inc., forecasts the overall self-compacting concrete market size to exceed a valuation of USD 30 billion by 2024.