Oct 22, 2019 SOURCE: BusinessWire

Global Translucent Concrete Market Forecast to 2024: Market is Projected to Register a CAGR of 80.0% - ResearchAndMarkets.com

The "Translucent Concrete Market by Raw Material Type (Concrete, Optical Elements), Application (Facade & Wall Cladding, Flooring), End-use Industry (Construction & Infrastructure), and Region (NA, EU, APAC, MEA, LA) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The global market size of translucent concrete was USD 500 thousand in 2018 and is projected to reach USD 16,534 thousand by 2024, at a CAGR of 80% between 2019 and 2024.

The translucent concrete market is projected to grow at a significant rate. The increasing demand for building energy-efficient buildings is driving the growth of the translucent concrete industry. The translucent concrete has the ability to pass light through it. It consists of optical elements such as optical fibres, glass rods, and resins that offer the light-transmitting property to the translucent concretes. The growing urbanization, the increasing spending power, demand for aesthetical and decorative buildings, and need for energy conservation has driven the market for translucent concretes.

Optical elements are the fastest-growing raw material of translucent concrete, in terms of value.

The translucent concrete is made of two raw materials, namely concrete and optical elements. Translucent concrete is approximately composed of 96% concrete and 4% optical elements. The optical elements can be combined easily with concrete. The optical element, is the key raw material used in the manufacturing of translucent concretes without which the main characteristic of transparency is not achieved. The optical elements have the capability to illuminate in the presence of natural as well as artificial light.

Flooring is the fastest-growing application of translucent concrete, in terms of value.

The flooring application covers usage of translucent concrete for residential floorings, commercial building floorings, restaurant floorings, staircases, and highway construction, among others. The translucent concrete, when used in flooring applications, helps in enhancing the aesthetical look. For instance, the translucent concrete blocks when used in floors, it looks like normal concrete blocks in the daytime, however, due to an artificial illumination beneath the blocks, it shines in different colours in the dark. The use of translucent concrete blocks in flooring applications of residential floorings, commercial building floorings, restaurant floorings, staircases, mainly meets aesthetical requirements of construction.

Construction & Infrastructure is the fastest-growing end-use industry of translucent concrete, in terms of value.

The translucent concrete has the ability to pass light through it. It consists of optical elements such as optical fibres, glass rods, and resins that offer the light-transmitting property to the translucent concretes. The growing urbanization, the increasing spending power, demand for aesthetical and decorative buildings, and need for energy conservation has increased the application for translucent concretes in construction & infrastructure industry.

MEA is the largest, and APAC is the fastest-growing translucent concrete market.

MEA is the largest region in the translucent concrete market due to the high demand for the material in the construction sector. The construction industry in the area is growing at a considerable pace. The increased government spending on construction projects is a major factor supporting the growth of construction industry in the region. UAE, Oman, Qatar, Saudi Arabia, Egypt, and Irans will drive most of the region's construction activity.

APAC is projected to register the highest CAGR in terms of value and volume in the global translucent concrete market during the forecast period. The demand for translucent concrete in APAC would grow owing to increasing use in roadways. The translucent concrete would be used beneath solar panels on the highway and would use natural sunlight for illumination of roads, thereby providing road safety.

Market Dynamics

Drivers