Newark, Aug. 21, 2024 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the self-healing concrete market is expected to grow from USD 40.17 billion in 2023 to USD 645.12 billion by 2033, at a CAGR of 32% during the forecast period 2024-2033. Europe region emerged as the largest market for the self-healing concrete with a 38.6% share of the market revenue in 2023. Europe currently dominates the self-healing concrete market due to growing focus on lowering carbon footprint from construction work. According to the European Commission, cement production accounted for roughly 9.5% of global CO2 emissions.
Get a Free Sample Research Report: https://www.thebrainyinsights.com/enquiry/sample-request/13479
Similarly, growing investment in research by businesses in the region has led to the growth of better and more useful self-healing concrete. However, governments of different countries in the region are taking steps to promote the adoption of solutions in construction activities that are zero-emission. For example, the world's first zero-emission construction site, which uses eco-friendly practices, has been founded in Oslo, Norway, which is anticipated to push a trend and stimulate the need for self-healing concrete and raise revenue development in the market.
Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 32% |
| 2033 Value Projection | USD 645.12 Billion |
| Market Size in 2023 | USD 40.17 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 237 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Form, Application, Regions |
| Regions Covered | The market's regions are Asia Pacific, Europe, South America, North America, and the Middle East and Africa. Furthermore, the regions are further analyzed at the country level. |
| Self-Healing Concrete Market Growth Drivers |
|
Browse Detailed Summary of Research Report with TOC: https://www.thebrainyinsights.com/report/self-healing-concrete-market-13479
Market Dynamics
Drivers: Enhances Compressive Strength
The compressive strength of concrete is significantly improved through microbial-induced calcium carbonate precipitation, making bacterial concrete stronger than conventional concrete. When bacteria interact with the concrete matrix, they facilitate calcium carbonate production, which acts as a binding agent. This process not only seals pores but also enhances the adhesive properties of the concrete, resulting in increased overall strength.
Restraints: High Cost
The high cost of self-healing concrete is a major restraint, with its price being approximately double that of conventional concrete. As a result, self-healing concrete is currently feasible primarily for specialized civil engineering structures where higher quality and safety are critical, such as tunnel linings and marine structures. These are typically areas where access for repair and maintenance is limited, justifying the higher costs associated with self-healing concrete.
Opportunities: Growing Investment in Large-Scale Infrastructure Projects
The rising investment in large-scale infrastructure projects globally is a key opportunity driving the demand for self-healing concrete. Many nations are collaborating and investing in infrastructure initiatives for long-term benefits, contributing to the revenue growth of the self-healing concrete market. The development of smart cities and infrastructure in developing countries, coupled with improved business environments, is attracting significant investments in offshore infrastructure projects, further boosting market growth.
Leading companies in the industry include Xypex Chemical Corporation, Wacker Chemie AG, Polycoat Products , Oscrete Construction Products, Kwik Bond Polymers, Green-Basilisk BV, Giatec Scientific Inc. , GCP Applied Technologies Inc., Fescon Oy., Corbion, Comercializadora Espanola De Innovaciones Y Materiales, CEMEX S.A.B. de C.V., Buzzi Unicem USA, Breedon Group plc, Avecom N.V.,Acciona Infraestructuras S.A., among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.
The form segment is divided into capsule, vascular, and intrinsic. The capsule segment dominated the market, with a market share of around 39% in 2023. The application segment is divided into commercial, residential, civil infrastructure, and industrial. The civil infrastructures segment dominated the market, with a market share of around 28% in 2023.
Coronavirus had negative impacts on the self-healing concrete market globally. This outbreak halted construction activities which led to a fast fall in the requirement for self-healing concrete. During Covid-19, there were no new extensive construction activities due to a lack of labour and the economic recession. Similarly, the supply and manufacturing units were closed to restrain the spread of the virus also led to a decline in the expansion rate. Furthermore, limitations on the goods movement and travel poorly disrupted the need for the self-healing concrete market all over the world.
Ask for Customization: https://www.thebrainyinsights.com/enquiry/request-customization/13479
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: www.thebrainyinsights.com
