The study addresses the COVID-19 review of a critical factor affecting the market growth. The research examines competition in the regional and global markets, providing a rigorous evaluation of the factors that could have a substantial impact on the outlook of the industry over the forecast period.
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In the construction field, concrete as a building material is an essential factor that serves as a foundation for the building structure. Skyscrapers and high-rise buildings are common in metropolitan areas around the world, particularly in densely populated countries. This is due to the need for maximum space utilization and the economic growth of the world. Nowadays, artistic designs and the reputation of concrete leaves behind much to be demanded despite popularity and versatilely.
On the other hand, translucent concrete is a building material manufactured by means of translucent cement and optical materials, which caters to light transmissive properties. Aron Losonczi, a Hungary-based architect, first introduced the concept of light-transmitting concrete in 2001. Then, in 2003, he successfully produced the first transparent concrete block called LiTraCon. Translucent concrete consists of a light-transmitting element, usually optical fibers, and traditional concrete elements.
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Raising awareness of the use of energy-saving materials in infrastructure and rising demand for aesthetic appeal in the same to accelerate the growth of the global translucent concrete industry. On the other hand, high costs associated with translucent cement manufacturing inhibit development to some degree. However, the increase in emphasis on the use of energy-efficient materials in construction is expected to generate several opportunities in the industry.
The global market for translucent concrete has been segmented on the basis of raw material type and application.
On the basis of raw material type, the global translucent concrete market has been segmented into concrete and optical elements. The concrete held the largest market share of the global translucent concrete market in 2018 and is anticipated to achieve the highest CAGR over the forecast period.
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On the basis of the end-use industry, the global translucent concrete market has been segmented into construction & infrastructure and others. The construction & infrastructure industry segment held the largest market share of the global translucent concrete market.
Region-wise, the global market for translucent concrete has been segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
The Middle East & Africa had the largest share in the global translucent concrete market in 2018, followed by Europe; it is expected to continue its dominance until 2025.
The European region is expected to report higher growth rates due to growing R & D investment in product innovation and the development of optical materials for concrete.
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The major industry participants operating in the global translucent concrete market are LUCEM GmbH (Germany), Litracon Ltd (Hungary), CRE Panel GmbH (Austria), Dupont Lightstone (Denmark), Italcementi SpA (Italy), LCT GesmbH (Austria), Pan-United Corporation Ltd (Singapore), Beton Broz (Czech Republic), Florack Bauunternehmung GmBH (Germany), and Glass block technology limited (UK).
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