PORTLAND, Oregon, April 2, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, Self-healing Concrete Market by Type (Intrinsic Healing, Capsule based Healing, Vascular Healing) by End User (Residential & Commercial, Industrial, and Civil Infrastructure): Global Opportunity Analysis and Industry Forecast, 2018 - 2025. The research offers a detailed analysis on changing market dynamics, key investment pockets, major segments, and market competition. According to the report, the global self-healing concrete market generated $216.72 billion in 2017, and is expected to reach $1,375.08 billion by 2025, growing at a CAGR of 26.4% from 2018 to 2025.
Advantages of self-healing concrete such as its ability to increase the life of infrastructures, its ease of use, and reduced maintenance cost; increase in demand for sustainable infrastructure; and growing focus to reduce carbon footprint which is rising due to construction drive the market growth. However, the high cost of self-healing concrete restrains the growth of the market. Conversely, wide application base of the concrete for reliable and durable construction create new opportunities for growth of the market.
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Capsule based healing segment to be lucrative through 2025
Among types, the capsule based healing segment accounted for more than half of the overall market share in 2017 and would retain its dominance through 2025. The same would grow at the fastest CAGR of 27.1% during the forecast period. This is because capsule based self-healing concrete has more efficiency to heal cracks in concrete as compared to other healing agents.
Civil infrastructures segment to be lucrative through 2025
Among end-users, the civil infrastructures segment was the largest in 2017, capturing 71.6% of the market share and would maintain its dominance through 2025. Civil infrastructure concretes require high maintenance cost and companies are spending large sum of money to keep them intact. Hence, there has been a growing adoption of self-healing concrete in civil infrastructures that includes tunnels, bridges, etc. that aims to reduce the maintenance cost in the long run. The segment would also grow at the fastest CAGR of 26.9% from 2018 to 2025.
Europe to be dominant, Asia-Pacific to exhibit the fastest growth through 2025
Europe captured more than three-fourths of the market share in 2017 and is likely to dominate the market through 2025. This is due to increasing research and activities followed by large scale application of self-healing concrete in civil infrastructures in the region. However, Asia-Pacific is expected to register the fastest CAGR of 29.6% from 2018 to 2025. The other regions analyzed in the report include Europe and LAMEA (Latin America, Middle East and Africa).
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Key players of the industry
Leading market players analyzed in the research include Basilisk, Acciona Infraestructureas S.A., Avecom N.V., Comercializadora Espanola De Innovaciones Y Materiales, COWI A/S, Devan-Micropolis, and Fescon. These market players have adopted various strategies including collaborations, joint ventures, partnerships, expansions, and others to gain a strong position in the industry.
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