Textile Reinforced Concrete Market: Introduction
- Textile reinforced concrete is also known as a strain hardening composite. It is one of the concreting techniques use in textile materials, such as carbon fiber and fiberglass material, instead of steel reinforcing bars inside the concrete. The textile material is required to deliver high tensile strength without the elongation properties and has excellent load-bearing capability. This requirement is offered by reinforced woven and non-woven fabrics.
- The combination of material science and textile reinforced materials are widely used in modern days. Textile reinforced concretes find application in the construction of bridges, pillars, and road guards that are prepared using the Kevlar material. These textile reinforced concrete structures can withstand vibrations, torsion, and powerful jerks.
- Textile reinforced concrete can be used in large structures, such as bridges, buildings, and full structures. Currently, there is no approval and testing procedures to use textile reinforced concrete in regular constructions. Therefore, textile-reinforced concrete can be used in small structures such as facades, panels, and walls. The textile-reinforced concrete is also used in repair works to strengthen structures.
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Key Drivers of Global Textile Reinforced Concrete Market
- Textile reinforced concrete market is projected to grow at a rapid pace during the forecast period due to government initiatives for the construction of residential houses in an eco-friendly manner. Textile reinforced concrete finds application in construction of parking, footpath, and bicycle paths, owing to its superior mechanical strength and low weight. These factors are likely to drive the market across the globe.
- Rise in construction of green buildings globally is projected to fuel the demand for textile reinforced concrete during the forecast period. Countries such as the U.S., Canada, Germany, Australia, and South Africa hold green building initiatives. The growing demand for modern architecture in the construction industry is projected to boost the market for textile reinforced concrete at a rapid pace during the forecast period.
- Expansion of the construction industry at a rapid pace, owing to investments is likely to fuel the demand for construction materials in various regions. This factor is projected to propel the global textile reinforced concrete market in the near future.
Road Segment to Offer Attractive Opportunities
- Based on application, the road segment is likely to account a major share of the global textile-reinforced concrete market during the forecast period. In several countries, road needs to build as per international standards, owing to huge population travel from one destination to another. Most of the population is dependent on pathways and footways for traveling. Concrete materials must deliver high durability and excellent strength. Thus, textile reinforced concrete is used. These factors are likely to drive market expansion across the globe.
- The bridge application segment is projected to hold significant share of the of the textile reinforced concrete market. Bridges use textile reinforced concrete materials due to their excellent strength and long life. Increase in demand for sustainable and eco-friendly concrete materials to reduce carbon emission and physical injuries to public is likely to boost the demand for textile reinforced concrete in the near future.
- In Germany, most bridges are built using textile reinforced concrete to provide strength to structures. Rise in demand for excellent concreting materials for commercial construction is projected to fuel the growth of the textile reinforced concrete market during the forecast period.
Stiff Competition from Substitutes to Hamper Market Expansion
- Textile reinforced concrete faces stiff competition from conventional steel bar reinforced concrete and others. Conventional steel bar reinforced concrete is in use from a long time. Thus, this factor may hamper the market growth of textile reinforced concrete.
- Low penetration rate of textile reinforced concrete due to similar applications of precast concrete can restrain future opportunities for market expansion. Lack of awareness about benefits of textile reinforced concrete due to its limited usage may hinder market growth during the forecast period.
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Asia Pacific to Hold a Leading Share of Global Textile Reinforced Concrete Market
- In terms of region, the market for textile reinforced concrete can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is a leading consumer of textile reinforced concrete followed by North America and Europe. Rise in demand for precast concrete in China, Japan, and South Korea is projected to offer growth opportunities for textile reinforced concrete market in the near future. Moreover, demand for precast concrete in the building & construction industry of developing economies of the Asia Pacific, such as China, India, and Indonesia, is expected to drive the textile reinforced concrete companies operating in the region.
- Increase in investments by government and FID flow in the construction industry in developing economies of Asia Pacific are factors anticipated to boost the textile reinforced concrete market in the region during the forecast period
- The textile reinforced concrete market in North America and Europe is projected to expand at a moderate pace, owing to consistent growth of the construction industry in both regions. Europe promotes construction of green buildings to reduce usage of environment damaging products in the construction industry. Moreover, growth in green building development projects across North America and Europe is projected to drive the textile reinforced concrete market in both regions.
- Textile reinforced concrete market in Latin America and the Middle East & Africa is projected to expand at a sluggish rate due to slow growth of the construction industry in both regions
Key Players Operating in Global Textile Reinforced Concrete Market
Several manufacturing companies are offering textile reinforced concrete. Some of the key players operating in the global textile reinforced concrete market are:
- Hering Interntional
- ADCOS NV
- WILHELM KNEITZ SOLUTIONS IN TEXTILE GMBH
- Raina Industries Pvt. Ltd
- CARBOCON GMBH
Global Textile Reinforced Concrete Market: Research Scope
Global Textile Reinforced Concrete Market, by Material
- Fiber Glass
- Others (Kevlar, Resins)
Global Textile Reinforced Concrete Market, by Application
- Others (Panels and Precast Structures)
Global Textile Reinforced Concrete Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
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