Surging Industrialization Rate to Propel Self-Levelling Concrete Consumption

(MENAFN- P&S Intelligence) Self-levelling concrete or self-levelling compound is used in industrial and commercial constructions to smoothen and level out the entire floor area. It is a mixture of water and powder that has exclusive flow viscosity, which enables the compound to spread on its own on the floor before setting. In recent years, the use of such products has increased due to the surging need to renovate and repair hospitals, offices, malls, apartments, and schools, owing to the escalating need to offer aesthetically enhanced infrastructure.

Moreover, the expanding construction industry, owing to the mounting focus of governments on improving infrastructure and providing housing, will drive the self-levelling concrete market at a CAGR of 5.1% during the forecast period (2018–2023). The market revenue is expected to grow from $5,000.3 million in 2017 to $6,726.3 million by 2023. For instance, the Kingdom of Saudi Arabia launched the Housing Program in 2018 to meet the housing needs of the populace. This Program aims to provide accommodation to the underprivileged sections of society.

The type segment of the self-levelling concrete market is bifurcated into toppings and underlayment. Under this segment, the underlayment category accounted for the larger market share in 2017, as underlayment self-levelling concrete helps in minimizing imperfections and irregularities. These are extensively used in the levelling of concrete subfloors in the interiors of commercial and residential structures. Thus, the increasing construction of residential and commercial buildings to accommodate the booming population will augment the growth of this category.

According to P&S Intelligence, the Asia-Pacific self-levelling concrete market is expected to demonstrate the fastest growth during the forecast period, owing to the increasing construction activities in China and India. The expanding construction sector in these nations can be attributed to the surging number of infrastructure development projects and mounting investments being made in the sector. For instance, the Indian government allocated INR 111 lakh crore ($1.4 trillion) under the National Infrastructure Pipeline (NIP) for the financial year 2019–2025.

Therefore, the rising construction activities and escalating industrialization rate in emerging economies are expected to enhance the consumption of self-levelling concrete.