New product development, agreement, and acquisition are the key development strategies adopted by the leading players for the growth of the Translucent Concrete Market
The translucent concrete market size is growing due to the rising construction & infrastructure industry and increasing focus on the development of green building activities. Factors such as demand for aesthetic products that save electric energy and high strength construction materials will drive the demand for translucent concrete. The translucent concrete industry is expected to grow from USD 875 thousand in 2019 to USD 16,534 thousand by 2024, at a CAGR of 80.0% during the forecast period.
Over the past few years, companies have strengthened their position in the global translucent concrete market by adopting strategies such as new product development, agreement, and acquisition. From 2017 to 2019, new product development, agreement, and acquisition were the key strategies adopted by the market players to maintain growth in the global translucent concrete industry. For instance, in September 2019, LUCEM GmbH has developed translucent concrete panels with properties such as weather- and UV-resistant, resistant to abrasion and non-flammability.
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The major manufacturers profiled in this report are, Litracon Ltd (Hungary), LUCEM GmbH (Germany), Dupont Lightstone (Denmark), CRE Panel GmbH (Austria), LCT GesmbH (Austria), Italcementi SpA (Italy), Pan-United Corporation Ltd (Singapore), Beton Broz (Czech Republic), Glass block technology limited (UK), and Florack Bauunternehmung GmBH (Germany). These companies have adopted various organic and inorganic growth strategies. For instance, in June 2019, LUCEM GmbH, Holcim Deutschland and its subsidiary VETRA Betonfertigteile GmbH signed a cooperation agreement. The cooperation aims to optimize production and improve sales channels to develop further new ideas for translucent concrete products jointly. This has helped the company to increase its share in the translucent concrete market.
Litracon Ltd (Hungary), LUCEM GmbH (Germany), and Italcementi SpA (Italy) are the major players in the translucent concrete industry. LUCEM GmbH (Germany), is one of the leading companies and the largest contributor to the growth of the global translucent concrete market. The company is specialized in manufacturing translucent concrete having sustainable and aesthetic properties. Apart from manufacturing translucent concrete, the company is involved in planning, processing, installation ad consultation services for translucent concrete. The company offers translucent panels in untrimmed sizes that can be used for a wide range of applications
Litracon Ltd (Hungary) is the second-largest player in the translucent concrete market. The company is involved in improving its position in the value chain with particular emphasis on innovation, high value-added products, and services. The company is the producer of the world’s first commercially available translucent concrete. The company’s product offerings include Litracon Classic, Litracon pXL, Litracube lamp, and Litracon Jewelry.
Related Reports:
Translucent Concrete Market by Raw Material Type (Concrete, Optical Elements), Application (Facade & Wall Cladding, Flooring), End-use Industry (Construction & Infrastructure), and Region (NA, EU, APAC, MEA, LA) - Global Forecast to 2024
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