Wilmington, Delaware, United States, June 27, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global market for carbon concrete was estimated to have reached a market valuation of around US$ 1.7 billion in 2022. The market is likely to garner a robust 11.2% CAGR from 2023 to 2031 and by the end of 2031, the market is likely to gain US$ 4.3 billion.
- The carbon concrete industry is likely to expand rapidly in the foreseeable future as expenditures in infrastructure building increase globally.
- The development of the market in the coming years is also projected to be fueled by the rise of interest for lightweight building materials.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 1.7 Bn | |
| Estimated Value | US$ 4.3 Bn | |
| Growth Rate - CAGR | 11.2% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 315 Pages | |
| Market Segmentation | Type, Application, End-use | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America | |
| Companies Covered | CARBOCON, Breakthrough Energy Ventures, Solidia, LafargeHolcim, EP Henry, CO2 Concrete, ALLPLAN Deutschland GmbH, CarbonCure Technologies, CarbiCrete, Central Concrete, Carbon Concrete Composite | |
Global Carbon Concrete Market: Key Players
CARBOCON, Breakthrough Energy Ventures, Solidia, LafargeHolcim, EP Henry, CO2 Concrete, ALLPLAN Deutschland GmbH, CarbonCure Technologies, CarbiCrete, Central Concrete, Carbon Concrete Composite.
Some developments by the key players in the global market for Carbon Concrete are:
- BMO Financial Group declared its intention to buy carbon credits from Halifax-based CarbonCure Technologies starting in 2022. This agreement covers a period of five years and entails the elimination and decrease of 5,750 metric tons of carbon dioxide annually.
- In 2023, the European Commission, the European Investment Bank, and Breakthrough Energy Ventures formed Breakthrough Energy Ventures Europe (BEV-E), an innovative €100 million venture fund, at the Fourth Mission Innovation Ministerial Meeting in Vancouver, Canada. The fund will support the growth of creative European businesses and the commercialization of completely new clean energy technology.
Vendors in the worldwide carbon concrete market are predicted to benefit financially from the building industry's increased focus on sustainability. An environmentally friendly substitute for regular concrete is carbon concrete. In comparison to conventional concrete, it provides increased durability and strength while lowering carbon footprint. Manufacturers are increasing their carbon concrete market share by extending their production capacity, developing fresh manufacturing facilities, as well as entering new geographic markets.
Carbon concrete's small weight enables more effective construction, which lowers material and shipping costs. Carbon concrete is a popular option for engineers and architects due to its versatility in applications as well as design. Carbon concrete aids the environment by lowering building projects' carbon impact. Cement production, a crucial element of conventional concrete, produces a large quantity of carbon dioxide emission. Carbon concrete uses less cement and promotes environmentally friendly building techniques by using carbon fiber reinforcing.
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Key Findings of Market Report
- Increased population as well as rapid urbanization are placing more strain on the capacity of the current infrastructure.
- Lightweight carbon mesh is probably going to become more popular as a product throughout the projected period.
- By application, the majority of these goods will be employed in the building of bridges.
- By end-use, the demand for carbon concrete will significantly increase in the commercial sector.
The Global Market for Carbon Concrete: Key Trends
- Carbon concrete and other lightweight building materials provide benefits in terms of handling, shipping, and installation. Building procedures may be carried out more quickly, with less manpower, and at a cheaper cost since carbon concrete is lighter than conventional concrete. The construction industry's growing need for lightweight materials is anticipated to fuel market expansion for carbon concrete.
- Materials for bridges must be strong, long-lasting, and resistant to environmental elements like corrosion as well as fatigue. With its outstanding mechanical qualities and improved performance, carbon concrete outperforms ordinary concrete in meeting certain structural criteria. Carbon concrete is a favored material for bridge building and repair projects because it increases the load-bearing capacity, durability, and robustness of bridges.
Global Carbon Concrete Market: Regional Outlook
- From 2023 to 2031, Asia Pacific is anticipated to have the greatest share. The region's market dynamics are being fueled by rapid urbanization and a growing requirement for reliable infrastructure that will promote economic growth. High building activity levels and substantial infrastructure projects define the Asia Pacific region's construction industry.
- Governments around the Asia Pacific region are making large investments in infrastructure projects such as high-rise buildings, motorways, and bridges. The need for sophisticated building materials like carbon concrete is being driven by the strong emphasis on building infrastructure.
Global Carbon Concrete Market Segmentation
Type
- Carbon Mesh
- Carbon Fibers
- Carbon Bars
- Others
Application
- Bridges
- Tunnels
- Roads & Highways
- Floors & Slabs
- Walls & Partitions
- Facades
- Prefabricated Elements
- Others
End-use
- Residential
- Commercial
- Industrial
- Infrastructure
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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