The global ultra high performance concrete (UHPC) market size was valued at USD 371.0 million in 2021. The market is projected to grow from USD 388.3 million in 2022 to USD 574.7 million by 2029, exhibiting a CAGR of 5.8% during the forecast period.
The increasing utilization of UHPC in the infrastructure and construction sector is expected to aid the expansion of the market, states Fortune Business Insights, in a report, Increasing government initiatives is expected to stimulate the growth of the market.
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The ultra-high-performance concrete (UHPC) market report offers explanations on the following subjects:
- What is the estimated market value?
- What strategies are adopted by the companies?
- What are the key market trends, drivers, and restrictions?
- Which region holds the maximum share in the global market?
- Latest developments occurred in recent times?
Collaboration between CEMEX Ventures and Tefken Ventures to Boost Market
The increasing partnerships and collaborations among major players are expected to foster the healthy growth of the market. For instance, in March 2019, CEMEX Ventures, a corporate venture capital arm of Cemex announced that it signed a partnership with Tefken Ventures. The deal between the companies is expected to facilitate innovative business models along with stakeholders in the construction industry. Furthermore, the increasing development of highways, roads, and bridges in developing nations is expected to create opportunities for the market. The growing awareness about the resilience properties of UHPC is expected to increase its application in construction operations. The refurbishment and repair of existing roads and bridges in developed countries are expected to augur well for the market. Furthermore, the shift from conventional concrete products to UHPC owing to its high strength, energy capacity, and durability can have an excellent effect on the global market.
However, the increasing competition with emerging regional and multinational entities in the market is expected to obstruct the growth of the market.
Surging Construction Industry to Propel Market in North America
The market in North America is expected to experience substantial growth during the forecast period owing to the evolving construction industry in the region. The increasing customer base for UHPC is predicted to enable the healthy growth of the market. Asia Pacific is expected to hold the largest share during the forecast period owing to the presence of major companies in Japan, China, South Korea, and India. The growing awareness about UHPC and rapid urbanization are factors expected to foster healthy growth of the market in the region. Europe is expected to expand radically during the forecast period owing to the rising investment for existing buildings. Moreover, various policies and increasing disposable income can spur opportunities for the market in Europe. The market in Latin America is expected to account for the largest share in the market owing to the growing demand for corrosion-resistant raw material for construction. Besides, new government policies are expected to aid development in the Middle East and Africa.
June 2019: Holcim Philippine, a LafargeHolcim company, announced its expansion projects of La Union, Philippines factory. The plant is expected to increase its manufacturing capacity from 1 million tons per annum to 1.8 million tons.
The Report Lists the Key Players in the Ultra-High-Performance Concrete (UHPC) Market:
- Cemex S.A.B. de C.V.
- ACC Limited
- Sika AG
- MC-Bauchemie Müller GmbH & Co. KG
- TAKTL, U.S. Concrete, Inc.
- Gulf Precast Concrete
- Elementbau Osthessen GmbH & Co.
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