Future Trends of the Concrete Market
Contents |
[edit] Introduction
From $617.26 billion in 2020, the concrete market is expected to grow to $972.04 billion by 2026. Growth momentum is expected to pick up during the forecast period, with a 7.86% CAGR.
The concrete market includes the revenue generated by the sale of ready-mix concrete and precast products and elements. Ready-mix concrete is made up of cement, sand, water, aggregates, and sometimes binding adhesives. Government spending on infrastructure development, renovation, and maintenance, such as roads and bridges, is increasing the size of the concrete market. Furthermore, ready-mix concrete and precast goods and pieces save time in terms of manufacturing, shipment, and installation. These items are also less expensive to produce because there is less waste generated during the manufacturing process.
[edit] Trends that are going to shape the Concrete Market
Historically, the success of concrete producers was largely dependent on assets. The market was owned by whoever owned the assets. As per different construction industry market research reports, with technology, we are fundamentally shifting from asset dominance to service expansion and differentiation. Technology has the potential to reduce the "friction" of traditional industrial processes.
[edit] Digital Transformation
Digital Transformation - Companies have invested in new technologies in order to support remote work, make job sites safer, account for lost time during shutdowns, and improve processes. In effect, the pandemic accelerated many digital initiatives that were already on the agendas of construction and concrete businesses.
- Use of drones - Drones can be used to quickly and efficiently capture high-resolution site photos to identify safety issues, estimate material quantities on site, and create orthomosaic maps that make even the largest job site visible.
- VR - Before construction professionals begin work on new additions, virtual reality can show clients what they will look like.
- 3D printing - As per various construction industry market research reports, 3D printing is making custom pieces more affordable and may enable a cutting-edge method of laying concrete in vertical piles according to a programmed design. This method is already in use in the commercial sector and is expected to expand rapidly.
[edit] Sustainability
Sustainability - In 2022, the sustainability trend will gain traction as more governments implement low-carbon construction policies and as governments, industries, and individuals demand more climate-friendly solutions in all aspects of life. As a result, sustainable building materials can serve as a key differentiator for both construction companies and manufacturers. Concrete is a specific focus of sustainability initiatives. This is due to the fact that traditional concrete emits more CO2 than the aviation industry. Cement, the main ingredient that gives concrete its strength, has a significant environmental impact.
[edit] Safety
Safety has always been a priority on construction sites, but since the COVID outbreak began, it has become a primary focus as sites banded together to implement cleanliness protocols and social distancing. As per various construction industry market research reports, the construction cleanliness protocols go beyond masks and hand sanitizer to prohibit the sharing of tools, gloves, and other construction-related PPE such as protective glasses, hats, and boots. On a job site, however, where cooperation and teamwork are required to get the job done, social distancing can be difficult to achieve.
[edit] Related articles on Designing Buildings
- Concrete.
- Concrete joints.
- Concrete masonry unit CMU.
- Concrete repair mortars.
- Concrete-steel composite structures.
- Concrete superplasticizer.
- Concrete to cover.
- Concrete vs. steel.
- Concreting plant.
- Decarbonising concrete in the UK.
- Lime concrete.
- Portland cement.
- Precast concrete.
- Prestressed concrete.
- Screed.
- Self-compacting concrete.
- Slip form.
- Smart concrete.
Featured articles and news
Shading for housing, a design guide
A look back at embedding a new culture of shading.
The Architectural Technology Awards
The AT Awards 2025 are open for entries!
ECA Blueprint for Electrification
The 'mosaic of interconnected challenges' and how to deliver the UK’s Transition to Clean Power.
Grenfell Tower Principal Contractor Award notice
Tower repair and maintenance contractor announced as demolition contractor.
Passivhaus social homes benefit from heat pump service
Sixteen new homes designed and built to achieve Passivhaus constructed in Dumfries & Galloway.
CABE Publishes Results of 2025 Building Control Survey
Concern over lack of understanding of how roles have changed since the introduction of the BSA 2022.
British Architectural Sculpture 1851-1951
A rich heritage of decorative and figurative sculpture. Book review.
A programme to tackle the lack of diversity.
Independent Building Control review panel
Five members of the newly established, Grenfell Tower Inquiry recommended, panel appointed.
Welsh Recharging Electrical Skills Charter progresses
ECA progressing on the ‘asks’ of the Recharging Electrical Skills Charter at the Senedd in Wales.
A brief history from 1890s to 2020s.
CIOB and CORBON combine forces
To elevate professional standards in Nigeria’s construction industry.
Amendment to the GB Energy Bill welcomed by ECA
Move prevents nationally-owned energy company from investing in solar panels produced by modern slavery.
Gregor Harvie argues that AI is state-sanctioned theft of IP.
Experimental AI housing target help for councils
Experimental AI could help councils meet housing targets by digitising records.
BSRIA Occupant Wellbeing survey BOW
Occupant satisfaction and wellbeing tool inc. physical environment, indoor facilities, functionality and accessibility.