Newark, Aug. 01, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the shotcrete market will grow from USD 8.92 billion in 2023 to USD 17.09 billion by 2033. Due to its rapid high-strength growth, high bonding strength, good durability, low dry shrinkage, approximate colour with old concrete, and good abrasive resistance, shotcrete is wgidely used for the rapid repair of concrete roads, pavements, runways, bridge surfaces, industrial plant grounds, etc.
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Key Insight of the Shotcrete Market
Europe region will account for the largest market size during the forecast period.
Europe region will hold a significant market share due to the rapid growth of urbanization. As a result of the growing infrastructural development, the demand for shotcrete has increased many folds. The shotcrete market is rising due to the growth of mining and tunnelling activities. Further, with the increasing construction of subways, bridges, dams, etc., shotcrete has been increasingly used in the region for the purpose of repairing and developing new structures.
The dry mix segment is expected to augment the market during the forecast period.
The process segment is divided into wet mix and dry mix. The dry mix segment is expected to augment the market during the forecast period. In the building process known as dry mix shotcrete, a dry mixture of cement and gravel is sprayed onto a surface using compressed air and water. Water is added to the nozzle before the dry mix is sprayed onto the surface and delivered through a pipe at a high speed.
The repair works segment is expected to augment the market during the forecast period.
The application segment is divided into protective coatings, underground construction, repair works, new surface structures and others. The repair works segment is expected to augment the market during the forecast period. Sprayed concrete is a multipurpose material that has transformed the structural rehabilitation industry. Its special application technique quickly creates a dense, long-lasting layer on a surface by projecting concrete onto it.
The robotic segment is expected to augment the market during the forecast period.
The system segment is divided into manual and robotic. The robotic segment is expected to augment the market during the forecast period. Wet concrete is sprayed in mines, tunnels, and outdoor building sites by robotic shotcrete equipment. When adding shotcrete finishes to walls, they can boost output rates without endangering the safety of the workers.
Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 6.72% |
| 2033 Value Projection | USD 17.09 Billion |
| Market Size in 2023 | USD 8.92 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 231 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Process, Application and System |
| Regions Covered | The market's regions are Asia Pacific, Europe, South America, North America, and the Middle East and Africa. Furthermore, the regions are further analyzed at the country level. |
| Regtech Market Growth Drivers | Increase in demand for shotcrete in the construction industry |
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Market Dynamics
Driver: Increasing use of shotcrete in repairing applications
Shotcrete is commonly used to restore buildings and bridges, reinforcing concrete structures that have deteriorated or weakened over time. When large-scale concrete repair is required, and formwork construction is either prohibitively expensive or problematic, shotcrete provides an affordable and practical solution. Shotcrete comprises cementitious materials with aggregates similar to concrete shot pneumatically onto prepared substrates. Shotcrete can protect exposed reinforcing steel, replace deteriorated or broken concrete, restore structural integrity, or increase the structural capacity of existing concrete elements.
Restraint: Complication while application
When applying shotcrete, two common issues are too-large pebbles in the aggregate, obstructing the concrete's ability to spray, and too-wet ready-mixed concrete, which has excessive slump and sticks poorly to overhead and vertical surfaces.
Opportunity: Rising urbanization
Over 80% of the global GDP is generated by urbanization, which can promote sustainable growth by increasing productivity and innovation. This suggests a rise of almost three percentage points compared to the preceding ten years. China, India, the U.S., Japan, Canada, and the UK are among the nations with higher-than-average rates of urbanization. The increasing urbanization has led to a rise in demand for civil and residential infrastructures, and economic factors positively influence the industry. Of all the businesses involved, the construction industry has been most impacted by the development and application of shotcrete. Shotcrete applications have had a lasting impact on buildings, making it possible to achieve engineering and architectural marvels that otherwise would not have been feasible.
Challenges: Time-consuming
When it comes to huge foundations, structural piers, and other structures with enormous cross-sections, shotcrete's main drawback over poured concrete is how much longer it takes to complete these large structures than utilizing traditional forms. Depending on the thickness, temperature, and curing chemical employed, shotcrete curing times can reach up to 72 hours.
Some of the major players operating in the shotcrete market are:
• Sika AG
• BASF SE
• Grupo ACS
• Cemex S.A.B. De C.V.
• Mapei S.P.A.
• Heidelbergcement
• GCP Applied Technologies
• Lafargeholcim Ltd.
• U.S. Concrete Inc
• Normet Group
Key Segments Cover in the Market:
By Process:
• Wet Mix
• Dry Mix
By Application:
• Protective Coatings
• Underground Construction
• Repair Works
• New Surface Structures
• Others
By System:
• Manual
• Robotic
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed on value (USD Billion). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
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