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Ultra-High Performance Concrete Market will Grow at a CAGR of 7.40% by the Forecast year 2029

Submitted by bondjoe on Thu, 03/30/2023 - 04:54

The Ultra-High Performance Concrete Market was estimated to be worth USD 425.63 million in 2021 and USD 753.47 million by 2029, growing at a CAGR of 7.40% from 2022 to 2029. The Data Bridge Market Research team's thorough expert research, import/export analysis, pricing analysis, production consumption analysis, patent analysis, and technical advances are all included in the market study.
Due to its robust constructions and high compressive strength, ultra-high performance concrete (UHPC) is widely employed in the building sector. This particular variety of concrete has a compressive strength more than 150 megapascals (MPa). It is derived with the necessary toughness, durability, and tensile ductility.
Ultra-High-Performance Concrete (UHPC) is a material with a variety of characteristics, including extremely high strength, energy capacity, flexibility, and durability. It is formed of cement and concrete ingredients. These reasons make this material useful in many building projects including other types of concrete materials. Reactive powder concrete (RPC), as it is often called, is a material that can increase the sustainability of structures and other infrastructure.
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Ultra-high Performance Concrete Market Dynamics
Increase the demand of new construction projects
Due to improvement in macroeconomic conditions increase the demand for new construction projects globally. Strong growth has been witnessed in housing projects and new residential. Also, the demand for concrete with better durability, sustainability, superior quality higher compressive strength, and reduced weight is anticipated to drive the growth of the ultra-high performance concrete market
Rise in demand for non-residential and non-commercial construction
The demand for ultra-high performance concrete is mainly driven by increased demand for non-residential and non-commercial construction. Public-private organizations (PPPs) are also driving the growth of this section, which is driving the demand for several grades of ultra-high performance concrete in infrastructure projects.
Increase application in construction and infrastructure
Construction of road and bridge dominate the market of ultra-high performance concrete and is expected to ascend at a high growth rate over the forecast period. UHPC can be used as a column, structural precast element, and facade in building construction. Furthermore, this material is also used in the machinery industry to produce integrated machine parts, which in turn is anticipated to fuel the market growth.
Development of new products and services
Due to Increasing the urbanization globally which leads to the increase the number of prevalence of high performance material, construction activities, rising funds for the development of industrialisation and infrastructure are few factors which will expected to increase the growth of the ultra-high performance concrete market during forecast period
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COVID-19 Impact on Ultra-High Performance Concrete Market
Ultra-high-performance concrete market affected drastically during COVID-19 pandemic because the demand of ultra-high-performance concrete from several industries decreased mostly from the construction sector. Due to the imposed lockdown, the imports and exports of the construction materials are ceased.
The transportation services are banned globally, affecting the trade of construction materials. Therefore, the supply and demand for these materials are halted. But after lifting the lockdown, the ultra-high performance concrete market growth increases due to the increase for its multiple benefits in several industries.
Global Ultra-High Performance Concrete Market Scope
• Cement
• Admixtures
• Sand and Quartz Flour
• Others
• Slurry-infiltrated Fibrous Concrete (SIFCON)
• Reactive Powder Concrete (RPC)
• Others
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• Residential
• Infrastructure
• Commercial
• Others
• Construction Industry
• Marine Industry
Ultra-High Performance Concrete Market Regional Analysis/Insights
Asia-Pacific dominates the ultra-high performance concrete market in terms of residential and infrastructural construction sector and will continue to flourish its dominance during the forecast period of 2022 to 2029.