Rising Infrastructure Maintenance Cost Driving the Bioconcrete Market
- December, 2023
- Building & Construction, Infrastructure
Bioconcrete market is expected to grow from USD 34 billion in 2023-e to USD XX billion by 2030, at a CAGR of 28% during the forecast period (2024-2030). The prominent players in the global bioconcrete market are BASF, Evonik, Covestro, Cemex, Acciona, Costain Group, TU Delft, IOI Oleochemicals, Koster Keunen, Aurochemicals, Berg + Schmidt, Hallstar, and Saint-Gobain.
The bioconcrete market size is expected to grow from USD 34 billion in 2023-e to USD XX billion by 2030, at a CAGR of 28% during the forecast period (2024-2030). Bioconcrete is an extraordinary construction material with the ability to self-heal cracks and damage, similar to how organisms may heal wounds. It contains a bacterium that creates limestone, which transforms into a gel to fill in spaces when exposed to water and air.
This concrete fills in fractures and reduces the risk of corrosion, protecting the steel framework from outside influences. This self-healing property improves the lifespan of structures, reduces maintenance costs, and is more sustainable. Bioconcrete is transforming the construction materials industry by incorporating bacteria that can autonomously repair cracks and create more durable and sustainable structures.
The bioconcrete market is driven by factors such as the prolonged usefulness of civil infrastructure, ease of use, and decreased maintenance costs. Rising infrastructure maintenance cost is supporting the bioconcrete market expansion during the forecast period. However, market growth is projected to affect by increased production costs of the material.
Bacterial bioconcrete’s self-healing properties drive the growth of the market. This feature reduces repairs and enhances sustainability, making it valuable for infrastructure projects. Despite the initial higher costs, long-term savings make it an appealing option.
The infrastructure application segment is expected to grow significantly over the forecast period as construction companies collaborate with product development companies to commercialize their products. This collaboration is expected to increase the demand for durable infrastructure products.
The construction industry in Europe is expected to experience significant growth driven by the government’s various projects and initiatives. Some of the prominent players in the global bioconcrete market are BASF, Evonik, Covestro, Cemex, Acciona, Costain, TU Delft, IOI Oleochemicals, Koster Keunen, Aurochemicals, Berg + Schmidt, Hallstar, and Saint-Gobain.