Supplementary Cementitious Materials Market to witness increased traction from building and construction industry

Supplementary Cementitious Materials Market is expected to expand significantly during 2021-2030. Applications of supplementary cementitious materials include residential, commercial and others. The residential segment accounted for the largest supplementary cementitious materials market share in 2020, while the commercial segment is projected to be the fastest growing segment at a CAGR of 7:8%. 

According to the report published by Allied Market Research, the global supplementary cementitious materials market generated $20.1 billion in 2020, and is expected to reach $39.9 billion by 2030, witnessing at a CAGR of 7.2% from 2021 to 2030. The report offers a detailed analysis of changing market dynamics, key investment pockets, top segments, value chain, regional scenario, and competitive landscape. 

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Rise in activities in the building and construction industry and surge in R&D investments to improve and formulate newer products and applications drive the growth of the global supplementary cementitious materials market. However, disadvantages related to fly ash in the construction industry hinder the market growth. On the other hand, effective solutions for waste management present new opportunities in the coming years.      

Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Europe accounted for the largest share of the market in 2020 while the Asia-Pacific segment is projected to be the fastest growing segment at a CAGR of 8.7%. Increasing urbanization in developing countries including India and China is expected to grow the construction industry, thus increasing the demand of supplementary cementitious materials. In addition, increasing industrial, and commercial construction will fuel the market demand in the construction industry. 

Based on type, the slag cement segment contributed to the highest share in 2020, accounting for more than two-fifths of the total share, and is estimated to continue its leadership status during the forecast period. However, the fly ash segment is expected to portray the highest CAGR of 7.7% from 2021 to 2030.

Based on application, the residential segment accounted for the highest share in 2020, holding nearly half of the global supplementary cementitious materials market, and is estimated to continue its dominance during the forecast period. However, the commercial segment is projected to manifest the largest CAGR of 7.8% from 2021 to 2030.

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BY APPLICATION

1. Residential
2. Commercial
3. Others

Covid-19 Scenario:

• Owing to lockdown measures implemented in various countries during the Covid-19 pandemic, the construction activities halted and the demand for construction materials declined significantly. Moreover, workers returned to their hometowns due to closure of construction sites. This led to reduced demand for supplementary cementitious materials.
• Manufacturing activities of supplementary cementitious materials have been hampered partially or completely due to closure of facilities. Supply chain disruptions and raw material shortage resulted in lowered production activities.
• During the post-lockdown, the demand for various construction materials is expected to rise steadily as construction activities begin with full capacity and workers return to the construction sites.

Leading players of the global supplementary cementitious materials market analyzed in the research include ArcelorMittal SA, Boral Ltd., BASF SE, Ferroglobe Plc., CEMEX SAB de CV, Sika AG, LafargeHolcim Ltd., and Tata Steel Ltd.

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Tags: Residential, Asia, Japan, Supplementary Cementitious Materials, korea, Supplementary, Commercial, Supplementary Cementitious Materials market, Cement, construction, Europe, United States, United Kingdom