Report ID: SQMIG15F2194
Report ID:
SQMIG15F2194 |
Region:
Global |
Published Date: November, 2024
Pages:
173
|
Tables:
94 |
Figures:
71
Drivers
Probably the biggest driver of the concrete industry is the global pattern of growing urbanization. As cities expand along with their populations, so does demand for more buildings, roads, bridges, and other infrastructure. It is for these reasons strength, flexibility, and value that make it concrete the material of choice for massive construction projects from major transit networks to residential buildings in both developed and developing countries.
Sustainable construction is becoming increasingly important, along with the demand for environmentally friendly concrete solutions. The encouragement of low carbon and energy efficient concrete, with the use of recycled materials and alternative binders is ensured by green building certifications such as LEED (Leadership in Energy and Environmental Design). Environmentally friendly concrete product developments are one of the leading drivers for the market wherein authorities and institutions keep trying to get at par for sustainability in building.
Restraints
Notwithstanding this, some of the limiting factors in the market are specifically environmental impacts of concrete, including major carbon emissions connected with cement manufacture. Contributions by industry to global CO2 emissions left the consumers, environmental organizations, as well as the regulators putting greater pressure on the sector to produce more sustainable solutions. Greener concrete remains a challenge despite efforts to reduce emissions.
The availability of raw resources such as cement and sand limit the concrete market. In certain locations, cost increases have been felt due to supply-related issues brought about by the over-extraction of sand from rivers and beaches. As a satisfactory supply of limestone and other required minerals is not guaranteed, this could become a problem for the cement industry, which will limit their production and drive prices up in the near term.
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Report ID: SQMIG15F2194