The Company has Launched New Products to Enhance its Product Portfolio and Strengthen its Presence in the Global Self-Compacting Concrete Market.
The global self-compacting concrete (SCC) market is estimated to be USD 8.74 Billion in 2016 and is projected to reach USD 15.18 Billion by 2026, at a CAGR of 5.7% between 2016 and 2026. The Asia-Pacific region led the global self-compacting concrete market in 2015, followed by the Middle East & Africa and Europe.
Factors such as non-requirement of vibration process in laying SCC and significant reduction in maintenance, repair, and overhaul costs of SCC are driving the demand for self-compacting concrete. In addition, expansion of various end-use industries such as infrastructure and building & construction is another significant factor propelling the growth of the global self-compacting concrete market.
Most of the companies operating in this market, such as CEMEX S.A.B. de C.V., LafargeHolcim, and Sika Group have established their manufacturing bases in the North American and European regions. Major companies in the global self-compacting concrete market are focused on enhancing their presence in the Asia-Pacific region, owing to the increasing demand for SCC from emerging economies, such as China, India, and Thailand. These players are also focused on expanding their production capacities to gain a competitive edge over their peers in the market.
Companies in this market are concentrating on capacity expansion of existing facilities and installation of new facilities to achieve better performance qualities, economies of scale, and product innovation in order to address the increasing demand for self-compacting concrete. Cemex is one of the leading players in the global self-compacting concrete market. As a part of its growth strategy, the company has launched new products to enhance its product portfolio and strengthen its presence in the global self-compacting concrete market. For instance, in August 2013, CEMEX launched the CEMEX Global Solutions service for the cement, ready-mix concrete, and aggregates industry. CEMEX Global Solutions offer state-of-the-art technological support across the entire building materials manufacturing process, from plant design and conceptualization to expanding capacity and upgrading equipment.
LafargeHolcim Limited, another key player in the global self-compacting concrete market, introduced Agilia, which is a self-compacting concrete that is easily placed and significantly reduces construction time and cost. It also helps eliminate the need for vibration due to its fluid and stable properties. The company’s product line is suitable for all types of commercial, residential, and institutional applications.
Apart from new product launch, major companies in the market have adopted the expansion strategy to enhance their geographic reach. For instance, in February 2016, Sika Group established two manufacturing units in Southeast Asia, one production plant for the development of concrete admixtures in Myanmar and another one in Cambodia. By establishing a local production facility, Sika is setting new standards in customer proximity, product quality, and direct market development.
Related Reports:
Self-Compacting Concrete Market by Type (Powder, Viscosity, Combination), Application (Drilled Shafts, Columns, Metal Decking, Concrete Frames), End User (Oil & Gas Construction, Infrastructure, Building & Construction), Region - Global Forecast to 2026
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