Why construction companies become unstuck when it comes to concrete
Being the most consumed man-made material in the world, it’s no doubt that construction companies are not letting go of the concrete industry just yet. Concrete is really strong on its strength integrity, lasting almost indefinitely and Danterr does not want to leave out the concrete industry too.
Modern constructions have been relying on concrete’s durability and versatility for buildings, sidewalks, bridges on land or underwater as it has high fire and water resistance. As the world is still developing, we believe that construction companies still want to compete for more lucrative projects.
What does the industry look like at the moment?
The global growth of cement production has been positively increasing especially in China in the past few years. China is currently the number 1 cement producer in the world according to Statista, looking at a massive 2.4 billion tons of production in 2016.
Another fun fact: Washington Post also mentioned that China’s use of concrete in 2011 – 2013 is more than the United States concrete use in the whole 20th century. That really shows how massive the concrete industry truly is.
The concrete industry is looking at over six billion tons of production annually and construction companies are benefited greatly with this rise of concrete use within the industry, with revenue reaching US $47 billion.
Regardless of the slowing down retail construction growth, the concrete market is still on the rise. Construction spending in Australia within the first half of 2017 is also still increasing despite the declining public investment on the past year. Recent news has also shown rebound on Australia’s construction industry as the Performance of Construction Index (PCI) improved rapidly in the past three months reflecting increased activities across four major construction sectors.
How is it looking in the future?
The future of concrete is promising as the world’s demand for cement is projected to increase by 4.5 percent each year. Most projections are looking at around 5.2 percent growth annually until 2019 where the market for construction aggregates would grow to 51.7 billion tons.
In Australia, we are looking at the housing unaffordability trend as the prices of housing soar. This also calls for the aging Australian workforce as there will be more skill shortages in the future with construction companies.
Following up to our previous blog article on ‘green’ concrete, there are now possibilities of the concrete market to change and become more environmentally friendly. We are hopeful to see how the ‘green’ concrete industry will thrive in the future as the demand for concrete is still high and rising.
Danterr is continually looking for better solutions with concrete sustainability.
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