|Fastest Growing Market:||Asia-Pacific|
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The Global Pervious Concrete Market is projected to register a CAGR of above 6% during the forecast period (2022-2027).
The market was negatively impacted by COVID-19 in 2020. The COVID-19 pandemic affected the pervious concrete market as the operations across production plants and construction sites came to a standstill with global lockdowns to stop the spread of the virus, and the production and consumption of pervious concrete fell significantly. There is also a change in priority to the health sector, sectors like road and building construction are on temporary hold. In the construction industry pervious cement is used for roadways and parking lots that capture stormwater and allow it to seep into the ground thus helping in recharging groundwater and reducing stormwater runoff. Apart from that, pervious concrete is most often used for roads with light traffic, pedestrian, and cycling path sand.
- Over the short term, rising construction projects and demand for eco-friendly and green, sustainable growth for construction materials such as pervious concrete and rising concern of recharging the ground water level by the government of different countries are some of the driving factors which are stimulating the market demand.
- Requirement of specialized design and construction practice is expected to hinder the market growth.
- Increasing green infrastructural projects for water management that protects, restores, or mimics the natural water cycle is likely to create opportunities for the market in the coming years.
- Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.
Scope of the Report
Pervious Concrete is made from cement, coarse aggregate, water, admixtures, and other cementitious materials which are used to create a paste that forms a thick coating around aggregate particles. The lack of fine aggregates causes the pervious concrete to have a void structure, which allows liquids and air to be filtered and pass through the concrete into a sub-base or collection pond. The pervious concrete market is segmented by design, application, end-user industry, and geography. By design, the market is segmented into Hydrological and Structural. By application, the market is segmented into Hardscape, Floors, and Other Applications. By End-user Industry, the market is segmented into Residential Construction, Commercial Construction, and Infrastructure Construction. The report also covers the market size and forecast for the pervious concrete market in 15 countries across major regions. For each segment, the market sizing and forecast have been done on the basis of volume (kilo tons).
Key Market Trends
Increasing Usage in the Infrastructure Industry
- Pervious concrete is the fastest-growing fiber sector in the construction industry. Pervious concrete is used in green building alternative that is suitable for many applications such as reduced construction requirements for drainage structures, reduced pollution by preventing environmental damage, and allowing rainwater to drain directly to a sub-base due to which it has created the tremendous potential to meet customer needs in an eco-friendly manner in the infrastructure industry. Different countries have started building new & developing of infrastructures programs.
- In january 2022, the U.S. Department of Transportation launched the historic bridge replacement, protection, rehabilitation, preservation, and construction program (Bridge Formula Program) that represents the single largest dedicated bridge investment since the construction of the interstate highway system.
- The rising underground water level has been the most essential factor due to the ongoing water crisis resources in some regions. With this new opportunity, the infrastructure industry is getting benefitted by using pervious concrete which protects streams and lakes and allows vegetation to thrive.
- India has the second-largest road network in the world, spanning a total of 5.89 million kilometres (kms). This enhanced production of road infrastructure and its maintenance which has stimulated the market demand for pervious concrete.
- Superior properties of pervious concrete such as capturing stormwater, recharging groundwater, and minimize site disturbance enhanced its usage in road industry. In India, the government aims to construct 65,000 kms of national highways by 2022, similarly very large amount of road construction projects are going on globally which in-turns stimulates the demand for pervious concrete market.
- Owing to all these factors, the market for pervious concrete is likely to grow globally during the forecast period.
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Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market. In the region, China is the largest economy, in terms of GDP. China and India are among the fastest emerging economies in the world.
- China is the world's leading producer and exporter of construction materials. The Chinese building & construction industry depicted significant growth over the years. In 2021, the construction output value in China achieved its peak at around CNY 29.3 trillion, and in the same year, China produced about 190 million metric tons of cement.
- Similarly, added value in the construction industry in China has been increasing by at least 3.5% annually in the recent decade and the construction industry in China generated an added value of approximately CNY 7.3 trillion in 2020.
- According to IBEF, in 2019, the real estate industry in India generated sales of USD 1.72 billion and it is expected to reach USD 9.30 billion by 2040. Also, highway construction in India increased at 17.00% CAGR between FY16-FY21. Despite pandemic and lockdown, India has constructed 13,298 km of highways in FY21.
- In the last decade, the total length of China’s roads has increased significantly by around one million kilometers.
- Due to all such factors, the market for pervious concrete in the region is expected to have a steady growth during the forecast period.
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The pervious concrete market is partially fragmented in nature. Some of the major players in the market include BASF SE, Sika AG, Cemex S.A.B. de C.V., Raffin Construction, and A.G. Peltz Group, LLC, and others (not in any particular order).
Recent Devlopemnts will be Provided in Complete Report.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 The Rising Construction Projects
4.1.2 The Rising Concern of Recharging Groundwater
4.2.1 Requirement of Specialized Design and Construction Practice
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.2.3 Other Applications
5.3 End-user Industry
5.3.1 Residential Construction
5.3.2 Commercial Construction
5.3.3 Infrastructure Construction
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.4.2 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.4.4 South America
184.108.40.206 Rest of South America
5.4.5 Middle-East and Africa
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 A.G. Peltz Group, LLC
6.4.2 BASF SE
6.4.3 Bay Area Pervious Concrete
6.4.4 Cemex S.A.B. de C.V.
6.4.5 Chaney Enterprises
6.4.6 Empire Blended Products, Inc.
6.4.7 Frank J. Fazzio & Sons Inc.
6.4.8 Fred Adams Paving
6.4.9 Pacific Pervious Concrete
6.4.10 Raffin Construction
6.4.11 Sika AG
6.4.12 ULTRA Ready Mix Concrete
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increase in Green Infrastructural Projects
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Frequently Asked Questions
What is the study period of this market?
The Pervious Concrete Market market is studied from 2017 - 2027.
What is the growth rate of Pervious Concrete Market?
The Pervious Concrete Market is growing at a CAGR of >6% over the next 5 years.
Which region has highest growth rate in Pervious Concrete Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Pervious Concrete Market?
Asia-Pacific holds highest share in 2021.
Who are the key players in Pervious Concrete Market?
BASF SE , Sika AG , Cemex S.A.B. de C.V., Raffin Construction , A.G. Peltz Group, LLC are the major companies operating in Pervious Concrete Market.