December 22, 2022 08:07 ET | Source: Zion Market Research Zion Market Research
Los Angeles, CA, Dec. 22, 2022 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Concrete Canvas Market By Application (Ditch Lining, Slope Protection, Bund Lining, Pipe Line Protection, And Others), By End User (Roadways Infrastructure, Railways, Petrochemical, Military & Defense, Mining And Municipal), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030” in its research database.
“According to the latest research study, the demand for global Concrete Canvas Market size & share in terms of revenue was valued at USD 417 million in 2021 and it is expected to surpass around USD 1205 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 12.5% during the forecast period 2022 to 2030.”
What is Concrete Canvas? How big is the Concrete Canvas Industry?
Concrete Canvas Report Coverage & Overview:
Thermal paper, commonly known as audit roll, is a type of recording material that is widely used to display data. Unlike conventional paper, which requires a ribbon or toner, it is coated with a mixture of dyes and chemicals that may change color when exposed to heat. It is frequently used in portable devices such as fax machines, casino POS systems, cash registers, credit card terminals, kiosks, pay-at-the-pump machines, and mobile printers. These devices are used in retail, gaming, food & beverage (F&B), tourism & hospitality, and banking, financial services, & insurance (BFSI) industries around the world.
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Global Concrete Canvas Market: Growth Dynamics
One of the major factors driving the global concrete canvas market is the rising construction activities across the globe. Moreover, the increasing investments from emerging economies to boost their national growth are contributing significantly towards the expansion and growth of the global concrete canvas market.
The primary factors that fueled the growth of the global concrete canvas market are easy installation, low costs, and easy use. The increasing inclination of people towards more innovative and efficient construction materials is projected to boost the growth of the market significantly. These Canvas are highly used in different applications like armor capping of earth bunds, surface erosion, slope protection, and construction of vent wall structures for mining. Moreover, these Canvas are also used on agricultural sites as an alternative to traditional concrete in different regions across the globe.
The growing preference of consumers towards eco-friendly construction materials is further boosting the growth of the global concrete canvas market. Concrete canvas facilitates lesser carbon emissions when compared to traditional ones and thus is adopted widely across the globe. However, the volatility in the raw material price is expected to hamper the growth of the market during the forecast period.
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Concrete Canvas Market: Segmentation Analysis
The global concrete canvas market is segmented based on application, end user, and region.
Based on application, the market is segmented into ditch lining, slope protection, bund lining, pipeline protection, and others. The ditch lining segment accounted for a significant revenue share in 2021. For ditch lining, the concrete canvas is used to prevent weed growth, erosion, and silt production.
It may be installed more quickly than traditional concrete systems and with a smaller staff. On the other hand, demand for the product is anticipated to be driven by an increase in the use of concrete canvas in bund lining and containment solutions throughout the forecast period. Due to the protection, it offers against abrasion and erosion, the concrete canvas is utilized in a variety of industries, including the petrochemical and oil and gas sectors.
Based on end users, the market is segmented into roadways infrastructure, railways, petrochemical, military & defense, mining, and municipal. The roadways infrastructure segment is anticipated to hold a substantial revenue share over the forecast period. For a variety of purposes, including ditch and channel lining for water management, the concrete canvas is frequently utilized in roadway infrastructure as a more affordable option to traditional concretes. Besides, the railway segment grows at the fastest rate during the forecast period.
The segment growth is attributable to the product's simplicity of installation, reduced line possession, and increased safety, concrete canvas is being used more frequently in the rail sector. Market expansion is anticipated to be fueled by rising government initiatives to boost rail and road construction in emerging nations. For instance, the Indian government allocated USD 10.9 billion in 2019 to develop the nation's highways.
The global Concrete Canvas market is segmented as follows:
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Among the regions, the Asia Pacific accounts for the largest share of the global concrete canvas market due to the enormous product demand in growing economies like China and India. Moreover, the growing road and highway constructions in the region to boost the development of a nation further fuel the growth of the regional markets. On the other hand, North America is anticipated to witness huge growth owing to the growing adoption of concrete canvas in containment and corrosion control applications in sectors like petrochemicals. Moreover, the rapid proliferation of the petrochemical industry in the region is likely to boost regional market growth during the forecast period.
In March 2021, Concrete Canvas Ltd. introduced a major expansion into the U.S. market. Beginning March 25, a newly incorporated Concrete Canvas USA will take primary responsibility for the sale and master distribution of Concrete Canvas products across the United States. As one of the largest geosynthetic markets in the world, the United States is viewed as being integral to the continued growth of sales for Concrete Canvas’s erosion control and containment products.
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