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3. New Product Launches are some of The Major Strategies Adopted by the Market Players to Achieve Growth in the Pervious Pavement Market

Pervious pavement systems reduce stormwater runoff by allowing water to percolate through the topmost layer of the pavement into the subbase, infiltrate the water captured, and recharge the underground water level. MarketsandMarkets projects that the pervious pavement market size will grow from USD 12.13 Billion in 2015 to USD 22.17 Billion by 2026, at a compound annual growth rate (CAGR) of 5.7% from 2016 to 2026. The increase in demand for pervious pavement from hardscape applications is driving growth of the pervious pavement market.

The key players in the pervious pavement market are LafargeHolcim (Switzerland), CEMEX, S.A.B. de C.V. (Mexico), CRH plc (Ireland), BASF SE (Germany), Sika AG (Switzerland), and Balfour Beatty plc (U.K.). Other players include UltraTech Cement Limited (U.S.), Boral (Australia), Raffin Construction Co. (U.S.), and Chaney Enterprises (U.S.). These players have adopted various strategies to expand their global presence and increase their market share. Mergers & acquisitions, expansions & divestures, and new product launches are some of the major strategies adopted by the market players to achieve growth in the pervious pavement market.

The year 2015 witnessed several mergers & acquisitions in the pervious pavement market by key players to expand their product & service portfolio and improve their distribution network through the means of vertical acquisitions. Expansion & divestures was the second-most adopted key strategy by market players in order to expanded their geographical reach to untapped markets and through the divestment of the non-profitable or non-core business units to utilize resources in core business areas. The increase in demand for pervious pavement concrete is coupled with high development in the infrastructural construction growth in emerging markets have encouraged companies to adopt this strategy.

LafargeHolcim Limited is focused on manufacturing and selling of building materials worldwide. It sells its products to construction companies, manufacturers of ready-mix concrete & prefabricated products, concrete & asphalt producers, construction & public works contractors, multinational corporations, and small-scale customers under the Lafarge brand. The company entered into a letter agreement in 2016, with Nirma Limited (India) subjected to approval by Competition Commission of India, for the divestment of its shares in Lafarge India for a value of USD 1.40 billion. The proceeds from this transaction would be used to reduce the debt of LafargeHolcim. It has a vast experience in managing complex projects and has the capacity to adapt to the changing markets.

CEMEX, S.A.B. de C.V. (Cemex) is a global building materials company operating in more than 50 countries across the world, maintaining trade relationship with over 100 nations including U.S., U.K., Germany, France, Spain, Egypt, Columbia, and Philippines. The company has lined up itself with the Millennium Development Goals formulated by the United Nations, and has advanced well on the social, environmental, and economic agenda pursued over the last few years. One of the subsidiaries of CEMEX in the U.S. signed a definitive agreement in the year 2016, for the sale of its Fairborn cement plant and cement terminal based out of Columbus, Ohio, to Eagle Materials Inc. (U.S.) for USD 400 million. This transaction is made mainly for debt reduction and corporate purposes.

Related Reports:

Pervious Pavement Market by Application (Hardscape and Floors), Material (Pervious Concrete, Porous Asphalt, and Interlocking Concrete Pavers), Design (Hydrological and Structural) - Global Forecast to 2026

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