Impact of Covid-19 on the Global Ultra-High-Performance Concrete Market
The COVID-19 pandemic has had a major impact on the global economy, as it has severely affected various industry verticals such as automotive, manufacturing, energy, and construction. The pandemic has disrupted the supply chains of the construction sector, as the majority of the countries across the world have imposed lockdown restrictions, hampering the import and export of raw materials, components, and goods, and halting construction projects, worldwide. The lockdown restrictions caused due to the COVID-19 pandemic have led to shortages in the supply of goods and materials, which is expected to lower the profit margins of the manufacturers and suppliers of ultra-high-performance concrete in the upcoming quarters. The global market for ultra-high-performance concrete has been negatively impacted due to the COVID-19 pandemic as several construction projects in the residential, commercial, and industrial sectors have also halted. Additionally, the manufacturers of ultra-high-performance concrete are also facing challenges such as the unavailability of workers, supply chain disruptions, production shutdown, and cash flow constraints. All these factors are likely to affect the ultra-high-performance concrete market in the coming months as the growth in the construction industry has been heavily affected due to the COVID-19 pandemic. The market players are focused on the development of preventive measures and new business models to address the situation in the global market.
Global Investment in the Construction industry, 2018-2025 (USD Trillion)