Supplementary Cementitious Materials Global Market 2024 To Reach $31.16 Billion By 2028 At Rate Of 7.3%
Supplementary Cementitious Materials Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
LONDON, GREATER LONDON, UK, August 30, 2024 /EINPresswire.com/ — The supplementary cementitious materials market has experienced robust growth in recent years, expanding from $21.99 billion in 2023 to $23.55 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to increasing focus on sustainable construction, the need to repurpose industrial byproducts, increasing awareness of climate change, rapid urbanization, and the need for more resilient infrastructure.
Strong Future Growth Anticipated
The supplementary cementitious materials market is projected to continue its strong growth, reaching $31.16 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to the need for low-carbon materials, availability and disposal concerns of fly ash, overall growth in global cement, supportive policies and regulations, and increasing construction activities.
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Growth Driver Of The Supplementary Cementitious Materials Market
The growth in the construction industry is expected to propel the growth of the supplementary cementitious material market going forward. The construction industry encompasses businesses and organizations involved in the planning, design, development, construction, renovation, and maintenance of structures and infrastructure such as buildings, roads, bridges, utilities, and other physical facilities. The construction industry is expanding due to urbanization, infrastructure development, and increasing demand for residential and commercial spaces. Supplementary cementitious materials are required in the construction industry to improve concrete properties such as strength, durability, and sustainability while reducing the environmental impact of cement production.
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Major Players And Market Trends
Key players in the supplementary cementitious materials market include BASF SE, Tata Steel Limited, CEMEX SAB de CV, Sika AG, Taiheiyo Cement Corporation, Buzzi SpA, Elkem ASA, FLSmidth Group.
Major companies operating in the supplementary cementitious materials market are developing technologically advanced products, such as alkali-activated slag and fly ash, to better serve customers. Alkali-activated slag and fly ash are supplementary cementitious materials used to produce sustainable concrete.
Segments:
1) By Type: Fly Ash, Slag Cement, Silica Fume, Other Types
2) By Application: Construction, Automotive Industry, Electronics, Chemical Industry, Oil And Gas, Agriculture, Other Applications
3) By End Use: Residential, Commercial, Infrastructure, Industrial
Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the supplementary cementitious materials market in 2023. The regions covered in the supplementary cementitious materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Supplementary Cementitious Materials Market Definition
Supplementary cementitious materials (SCM) are additives used in concrete alongside portland cement to enhance its properties. These materials react with calcium hydroxide and contribute to the cementitious properties of the concrete mix. SCMs are chosen based on their ability to improve the strength, durability, and sustainability of concrete while reducing the environmental impact of cement production.
Supplementary Cementitious Materials Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Supplementary Cementitious Materials Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on supplementary cementitious materials market size, supplementary cementitious materials market drivers and trends, supplementary cementitious materials market major players, supplementary cementitious materials competitors’ revenues, supplementary cementitious materials market positioning, and supplementary cementitious materials market growth across geographies. The supplementary cementitious materials market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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