It is estimated that pervious pavement market size, will encounter a CAGR of 5.10% worth USD 25.52 billion during the forecast period. Permeable Pavements are highly porous, thus allowing rainwater for passing through the ground. Also, there has been increasing demand for green building due to stricter government regulations.
Besides, rapid industrialization and urbanization in many emerging economies have fuelled the previous pavement market growth. Demand for cost-efficient and eco- friendly materials has increased with investments within the industrial and infrastructure. Also, urbanization and reconstruction activities are on the rise.
COVID- 19 has impacted many industries due to disruptions in the global supply chain. In this view, pervious pavement market growth majorly depends on the construction activities within the economies. However, due to the pandemic, many private and public construction has been halted due to social distancing norms. Also, countries have been putting national and regional lockdowns for an indefinite period to control the spread of the virus.
Besides, there has been a decline in the investments in large projects like construction which will impact pervious pavement market growth. It is being estimated that demand-pull within the construction will impact the pervious pavement market outlook in the short- term and medium term. In addition to this, negative trends in the Indian and China markets are being anticipated to decline demand as well as the market size.
Also, demand for new construction raw materials has been facing major shifts as manufacturers are afraid of declining economic growth. Due to the travel restrictions, the supply and demand of materials are almost at a halt on global fronts.
The competitive landscape includes key players in the pervious pavement industry.
For few years, the construction market has been adopting and investing in greener materials that are cost-effective as well durable. Pervious concrete has been now used in many areas of construction activities which was previously restricted to pavements and parks. Pervious materials are being used in swimming pools, bathrooms, sideways, and others. A special type of pervious concrete has been developed in flatwork applications for high porosity. Porous Asphalts are being used for filtering the stormwater so that harmful contaminants do not reach the groundwater level. Also, key players are working on reducing the maintenance and improving the durability of pervious pavement materials.
Drivers- It is estimated that the construction industry will grow at a CAGR of 7.1% which will be the driving force for pervious pavement market growth. In addition to this, Pervious pavements are cost-efficient due to easily available raw material and low requirement of manual labour. As the materials can be easily obtained from local sources, hence it reduces the cost of transportation. Its competencies like reflective properties with mitigating impacts on the heat islands are expected to drive the market demand.
Opportunities- Pervious materials help prevent erosion while also eliminating drainage concerns. In many urban areas, high construction activities and deforestation have increased high water-run offs. It has become very important for the proper management of surface water especially in regions that are highly prone to floods and storms. Pervious pavements will act as a one-stop solution by reducing flood risks and soil erosion. As it allows water for permeating into the soil which further creates natural cleaning. The features themselves provide a great opportunity for the pervious pavement industry to expand in regions with high issues of water run-offs and soil erosions.
Restraints- In many developed and underdeveloped countries, there is comparatively less awareness of these types of eco-friendly materials which further might restrict pervious pavement market growth. In addition to this, high investments are required for building pervious infrastructure which also restricts growth in low income earning markets of the globe. In addition to this, many construction units often low-cost and durable solutions. However, pervious materials are highly porous which reduces their durability. Hence, act as a restraint in pervious pavement market growth.
Challenges- Pervious materials are highly porous and cannot be used in many construction activities. In this view, pervious pavement concretes have low load veering capacities. Also, it cannot be applied in areas of pollutant hot spots as pre-treatment is not possible. Hence pervious payment is facing challenges of increasing the use at a broader level.
The construction companies also incur the high cost of installing pervious payments as they not durable. Along with epoxy-coated bars are required which further increases the cost. Also, the application of pervious pavements to parking lots and some trucks. In addition to this, pervious concrete needs to be protected from run-offs in adjacent areas. This further increases the maintenance costs.
Cumulative growth analysis- The market of pervious concrete with reach to CAGR of more than 5% due to increasing regulations for eco-friendly constructions. Pervious materials are being considered to improve the aesthetics of driveways, parking lots, and other structures. It allows the growing trees, grasses, shrubs due to its easy access to water and carbon dioxide. In the year 2020 alone, the pervious pavement market size reached USD 17.03 billion owing to its high demand for eco-friendly construction codes. In new constructions, it is being used in bathrooms, sideways, swimming pools, and other areas where the flow of water is high.
Due to the increase in population and high urbanization, groundwater recharge has been depleting at higher rates. The use of pervious concrete helps in saving water while also managing the storms. Also, in many nations of Europe, high growth of pervious concrete is expected due to strict environmental regulations.
Value Chain Analysis- Pervious pavements are also known as permeable elements that allow filtering of the stormwater within the soil surface. It reduces issues related to water run-offs that further causes environmental damage. The expert’s advice that pervious pavements help in reducing temperature thus impacting the surrounding areas. Pervious Pavement Market Growth has expanded due to its capabilities in managing stormwater. It is being extensively used in structures like driveways, sidewalks, commercial spaces, parking spaces, and traffic streets in lowland areas.
The dominant segment within the pervious pavement market size includes material, product, and application.
Europe is considered a mature market for eco-friendly construction materials due to strict regulations. In the year 2020, the pervious pavement market outlook completely changed as high revenues soared due to high construction and reconstruction in the European region. Besides, North America is also anticipated to grow due to the existence of manufacturers and an increasing number of end-use industries. In this region, there have been increased installations of pervious concrete in commercial units and parking areas. Asia Pacific will also contribute to a higher CAGR. Owing to increased pollution levels, depletion of energy sources, and high climatic changes. The rest of the world will also face high growth due to a surge in construction and demand for green buildings.
This report includes varied phenomena which provide information pervious pavement market trends
Some other details of the report are
|Market Size||2027: Significant Value|
|CAGR||Substantial CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Technology, by Application, by Material|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||LafargeHolcim (Switzerland), CEMEX S.A.B. de C.V. (Mexico), CRH plc (Ireland), BASF SE (Germany), Sika AG (Switzerland), Balfour Beatty plc (U.K.), UltraTech Cement Limited (India), Boral Limited (Australia), Raffin Construction Co. (U.S.), and Chaney Enterprise (U.S.)|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Pervious pavements are a method of paving that allows storm water to seep into the ground. Benefits of pervious pavements include decreased hydroplaning and glare and increased visibility and traction.
Major materials used in the market include pervious concrete, porous asphalt, and interlocking concrete pavers.
Growing awareness about water conservation and rainwater harvesting is likely to be the major driver for the pervious pavement market.
Europe is the dominant regional market for pervious pavements.
Leading players in the global pervious pavement market include Sika, BASF, and CEMEX, among others.