As per our research Report, the Cementitious Composites Market is forecasted to be growing at a CAGR of 7.1% from 2024 to 2030.
Cementitious composites are a type of construction material made by integrating fibres like glass, carbon, and others with cementitious binders like cement, and additional additives. In comparison to conventional concrete and other building materials, the cementitious composite material has superior mechanical properties and durability. Due to their cost effectiveness, well-developed production methods, and well-suited adaptability to varying environmental conditions, these construction materials are one of the most extensively used infrastructure materials worldwide. Cementitious composites can be split into three types, i.e., concrete, cement mortar, and cement paste. They are susceptible to cracking due to their quasi-brittle nature, which majorly reduces their strength and durability. Under service conditions, reinforcement is typically added to cementitious composites to ignore the development of cracks and their subsequent propagation.
Cementitious composite reinforcements usually use nano-, micro-, and millimeter-sized fibres and particles. These sizes vary from nanometres to millimetres. These reinforcements offer nano- and micro-scale mechanisms for crack arrest and prevent the development of cracks under service loads. However, generally, the synthesis of nano- and microfibres and their subsequent dispersion in cementitious materials are tough, thus limiting their widespread use in the construction industry. Cementitious composites have been investigated as a supporting material for a variety of applications, including building facades, cladding, roofing, flooring, bridges, tunnels, and marine structures. They are chosen over conventional construction materials due to their higher compressive strength, durability, resistance to corrosion, better tensile strain capacity, and ability to defy harsh weather conditions. In addition, these materials can be sustainable and environment friendly as they can be made from recycled materials and restrict the emission of CO2 to the atmosphere in contrast to other construction materials. Resultantly of these advantages, the global cementitious composites market is estimated to have a fast CAGR during the forecasted period.
Demand for cementitious composites has increased globally over the past few years as more people become aware of the significance of using environmentally friendly construction materials. Cementitious composites are high-performance construction materials constituting recyclable materials. It has numerous advantages over conventional concrete. The need for sturdy, eco-friendly materials like cementitious composites is growing as people become more aware of the negative effects construction activities have on the environment as they highly contribute to air, noise, and water pollution. Cementitious composites are expected to have a lower carbon footprint in contrast to other conventional construction materials. Therefore, this factor drives the demand for cementitious composites.
The global cementitious composites market is expected to expand as a result of an increase in investment in infrastructure development in both developing and developed nations. Cementitious composites are an excellent choice for infrastructure development projects as they possess unique and distinctive properties, including low thermal conductivity, self-healing, high compressive strength, high tensile strength, and ductility. Therefore, this element also drives the demand for cementitious composites. Market expansion strategies offer a lucrative opportunity in the global cementitious composites market. Given the growing demand for cementitious composites due to the growing need for sustainable and eco-friendly materials and the increasing capital expenditure for infrastructure development projects, major cementitious composites companies can stand to gain majorly from this opportunity by expanding their product to emerging markets, such as countries of the Middle East and Latin America.
The outbreak of the COVID-19 pandemic substantially affected the global cementitious composites market. The imposition of strict lockdowns, traveling restrictions, and social distancing measures across several countries hindered many companies' manufacturing capacities and caused a shortage of skilled personnel. The pandemic caused disturbances in supply chains and distribution of goods and services, which highly impacted the production and distribution of cementitious composites. Furthermore, numerous construction projects were stopped due to the sudden implementation of the lockdowns worldwide. These factors detrimentally impacted the growth of the global cementitious composites market. Despite these hurdles, the global cementitious composites market is projected to recover and rise in the coming years, due to the rising capital expenditure for infrastructure development projects.
Key Market Insights:
Based on Fibre, the global cementitious composites market is split into glass, polymer, steel, and others. In 2022, the glass Fibre segment holds the highest market share. The growth can be credited to the wide availability and easy accessibility of glass Fibres for use in cementitious composites. Additionally, glass Fibres offer several benefits, including high resistance to bending, compressive, tensile, resistance to high temperature and humidity, limitation to chemical and biological effects, and relatively low density, which makes them a popular choice for a variety of construction applications. Due to the benefits of impact resistance, lightweight, easy to handle and transport, and inexpensive Fibre option, the polymer segment is anticipated to widen at the fastest rate during the outlook period.
Based on the application, the global cementitious composites market is split into commercial, industrial, residential, and civil projects. In 2022, the commercial segment holds the highest market share. The growth can be dedicated to the increasing applications of cementitious composites in commercial buildings, including schools, universities, offices, hotels, shopping complexes, etc. Cementitious composites provide several advantages over other construction materials for commercial buildings, such as greater strength, high durability, restriction to fire and corrosion, and so on, thereby making them an excellent option for applications in commercial construction. Due to the growing deployments in infrastructure development projects, including highways, bridges, tunnels, etc., the civil projects segment is expected to expand at the fastest rate over the forecast period.
Based on the end-use industry, the global cementitious composites market is split into aerospace and defense, construction and infrastructure, marine, and transportation. In 2022, the construction and infrastructure segment hold the highest market share. The growth can be attributed to the growing adoption of cementitious composites in the applications of commercial, industrial, and residential buildings as well as civil projects, including bridges, roads, dams, railways, highways, etc., due to their numerous advantages, such as high compressive strength, low manufacturing cost, straightforward production process, ease of use, etc. Owing to the increasing adoption of cementitious composites in the manufacturing of powerful and lightweight aircraft parts and other related components, the aerospace and defense segment is assumed to expand at the fastest rate over the forecast period.
In 2022, the region of North America held the biggest share of the global cementitious composites market. The growth can be credited to the presence of a well-established construction industry in developed nations, including the United States and Canada, and the escalating demand for durable and sustainable building materials for applications in residential, commercial, and industrial construction as well as civil projects. Additionally, the region is home to several key market players, including RPM International Inc., and CEMEX S.A.B. Due to the growing government investments in infrastructure development projects, including rail and road networks, bridges, housing, and industrial and commercial construction in developing countries, such as China and India, the region of Asia-Pacific is expected to expand at the quickest rate over the forecast period.
Glass
Polymer
Steel
Others
Commercial
Industrial
Residential
Civil Projects
Aerospace & Defense
Construction & Infrastructure
Marine
Transportation
Others
North America
Europe
Asia-Pacific
South America
Middle East and Africa
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