Global Concrete Cooling Market By Type (Water Cooling, Ice Cooling, Air Cooling, and Liquid Nitrogen Cooling), By Application (Highway Construction, Dam & Locks Construction, Port Construction, and Nuclear Plant Construction), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast; 2023-2032
- Published date: May 2023
- Report ID: 36585
- Number of Pages: 261
- Format:
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Report Overview
The global concrete cooling market is valued at USD 1.2 billion in 2022 and is anticipated to grow at a 5.6% CAGR between 2023 and 2032. It is expected to reach USD 2.31 billion in the forecast period.
The increasing use of cooling agents in manufacturing concrete to improve its properties is anticipated to propel the growth of the global concrete cooling industry. Concrete Cooling is a method popular in warm climates, where it is utilized to decrease the temperature of poured concrete to increase the total quality. High temperatures in concrete can decrease the tensile performance and strength of cement at the time of construction.
Concrete Cooling helps to reduce or curb water evaporation at high temperatures after cement hydration. The rising construction activities in tropical climatic countries such as the Asia Pacific and the Middle East mainly fuel the global concrete cooling market. Concrete Cooling is crucial because the high curing temperatures for concrete can result in decreased performance and strength. Therefore, concrete cooling becomes necessary, and numerous systems and methods exist for cooling concrete.
Global Concrete Cooling Market Analysis
Type Analysis
The concrete cooling market can be divided by type into water cooling, liquid nitrogen cooling, air cooling, and ice cooling.
Application Analysis
By application, this market is divided into highway construction, port construction, nuclear plant construction, and dam & locks construction. Among these applications, highway construction holds the largest market share and is estimated to continue dominating in the coming years. After highways, building construction is a significant segment of the concrete cooling market. According to IEA, floor area in buildings is anticipated to double to more than 400 square meters by 2050.
Concrete cooling systems are classic for regions with warm climates. Rapid urbanization and the increase in the transportation sector are significant drivers for the growth of the concrete cooling market. Also, the quick hike in buying power in emerging economies and numerous developing regions will grow the demand for buildings by 50% by 2050, fueling the concrete cooling industry.
Key Market Segments
By Type
- Water Cooling
- Ice Cooling
- Air Cooling
- Liquid Nitrogen Cooling
By Application
- Highway Construction
- Dam and Locks Construction
- Port Construction
- Nuclear Plant Construction
Market Dynamics
Drivers
The increase in the construction of dams, highways, ports, and others has created space for the market. With the growing global population and rapid urbanization, there is a massive incline in buildings and constructions, which primarily propels the demand for Concrete Cooling. The rising disposable income of consumers is pushing them to have a sophisticated lifestyle, where the house plays a prominent role. Such commercial and residential projects, especially in hot climatic areas, drive the demand for a worldwide concrete cooling industry.
Challenges
On the other hand, some aspects limit the expansion of the global Concrete Cooling market. The stagnation of the construction market in some developed countries of Europe and North America acts as a primary inhibitor to the growth of the business. Stringent government rules involved in the construction further impede the concrete cooling trade. Also, the improper environmental concerns and curing methods because of the release of carbon dioxide and other gases hinder market development.
Opportunities
The growing technological advances in the building and construction industry create potential growth for this industry. The increasing adoption of water-cooling methods in Middle East nations, coupled with the rising investments in high and other infrastructural projects, creates substantial growth opportunities for the concrete cooling market.
Impact of Covid-19
The COVID-19 pandemic has spread over the world. In 2020, the pandemic caused by the coronavirus resulted in lockdowns being imposed in most nations. The limitations executed by government authorities have compelled the market players to permit their workers to work remotely. The adoption of automated technologies to decrease human interaction in manufacturing facilities is anticipated to support the growth of the concrete cooling industry.
Using technologies like advanced electronics and automated machinery during the pandemic has ensured business continuity and improved work productivity. Many developed and emerging countries have implemented partial or complete lockdowns nationwide to maintain social distancing. Many e-commerce services and retail outlets were shut down to curb the spread of the pandemic.
The construction-related product manufacturing and related services were restricted to permitted limits during the lockdown. The production of concrete cooling materials was also affected, resulting in a demand and supply gap. The COVID-19 pandemic has affected supply chains and limited the growth of the concrete cooling industry. The aforementioned factors have strictly impacted the construction industry’s global revenue generation.
Regional Analysis
Key Regions and Countries Covered in this Report:
- North America
- The US
- Canada
- Mexico
- Europe
- Germany
- The UK
- France
- Italy
- Russia
- Spain
- Rest of Europe
- APAC
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- MEA
- GCC
- South Africa
- Israel
- Rest of MEA
Technology adoption, new product launches, acquisitions, and research and development activities are the main strategies of players that may create more opportunities in the concrete cooling industry.
Acquisition and Expansions
In Sep 2018, Dryvit Systems Inc. acquired Nudura Corporation. The acquisition provided a built environment with labor-saving, cost-effective, and premium building solutions.
In Oct 2018, Taiwan Cement created a joint venture with Turkey’s OYAK in The Netherlands through a newly formed subsidiary, Dutch TCC Holdings, by investing US$ 1.2 Billion.
Market Key Players:
- Focusun Refrigeration Corporation
- Recom Ice Systems
- Kirloskar Pneumatic Company Limited
- Lintec Germany GmbH
- Fujian Snowman Co., Ltd.
- Kti-Plersch Kaltetechnik GmbH
- Coldcrete Inc.
- Carbolink India Pvt Ltd
- North Star Ice Equipment Corporation
- Other Key Players
Frequently Asked Questions (FAQ)
What is the projected market size & growth rate of the Concrete Cooling Market?Concrete Cooling Market was valued at USD 1.2 billion in 2022 and is projected to reach USD 2.31 billion by 2032, growing at a CAGR of 5.6% from 2023 to 2032.
Which are the major companies operating in the market of concrete cooling?The major players are KTI-Plersch Kältetechnik GmbH (Germany), Fujian Snowman Co., Ltd. (China), Coldcrete Inc. (U.S.), ConCool LLC (U.S.), Kirloskar Pneumatic Company Limited (India), LINTEC Germany GmbH (Germany), Icelings (India), CyBe Construction (Netherlands), H.B. Fuller Construction Products (US), Baltimore Aircoil Company Inc. (US), MAPEI Corporation (US), Sika Corporation (Switzerland), SPX Corporation (US), CTS Cement Manufacturing Corporation (US), Carbolink India Pvt Ltd (India).
What are the major factors propelling the market of concrete cooling?The increase in the construction of dams, highways, ports, and others are major factor propelling the Concrete Cooling Market.
What are the key regions in the concrete cooling industry?Key regions in the concrete cooling industry are North America, South America, South Africa, Asia Pacific, South Korea, Middle East, and Latin America.
- Focusun Refrigeration Corporation
- Recom Ice Systems
- Kirloskar Pneumatic Company Limited
- Lintec Germany GmbH
- Fujian Snowman Co., Ltd.
- Kti-Plersch Kaltetechnik GmbH
- Coldcrete Inc.
- Carbolink India Pvt Ltd
- North Star Ice Equipment Corporation
- Other Key Players
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