Concrete Repair Mortars Market worth $4.0 billion by 2026 Globally, at a CAGR of 8.7 %, says MarketsandMarkets™

Chicago, Aug. 08, 2023 (GLOBE NEWSWIRE) -- The global Concrete Repair Mortars Market is projected to grow from USD 2.6 billion in 2021 to USD 4.0 billion by 2026, at a CAGR of 8.7% from 2021 to 2026. as per the recent study by MarketsandMarkets™. The concrete repair mortars market is projected to grow from USD 2.6 billion in 2021 to USD 4.0 billion by 2026, at a CAGR of 8.7%. The use of concrete repair mortars strengthens the buildings and increase their life span. They also help in saving costs for new construction in the process. In addition, governments are concerned about the deteriorating state of their infrastructure, which is expected to lead them to invest more in the market during the forecast period.

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Browse In-Depth TOC On "Concrete Repair Mortars Market”

702 - Market Data Tables
40 - Figures
371 - Pages

List of Key Players in Concrete Repair Mortars Market:

1. Sika AG (Switzerland)
2. osroc International Ltd. (UK)
3. MBCC (Germany)
4. Mapei SpA (Italy)
5. Saint-Gobain Weber SA (France)
6. Pidilite Industries Ltd. (India)
7. Flexcrete Technologies Ltd. (UK)
8. Remmers Baustofftechnik GmbH (Germany)
9. The Euclid Chemical Co. (UK)
10. Adhesive Technology Corp. (US)

Drivers, Restraints, Opportunities and Challenges in Concrete Repair Mortars Market:

1. Drivers: Increasing pressure on existing infrastructure due to growing population.
2. Restraints: Stringent regulations in Europe.
3. Opportunity: Shifting trend toward renewable energy generation.
4. Challenges: Rise of new construction technology as a replacement for repair materials.

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Key Findings of the Study:

1. Road infrastructure to be the fastest-growing end-use industry of the concrete repair mortars market between 2021 and 2026.
2. Hand/trawling application method segment is projected to register the highest CAGR during the forecast period.
3. APAC is projected to be the largest concrete repair mortars market during the forecast period.

The polymer modified cementitious mortars are expected to be the most used type of concrete repair mortars during the forecast period. The growth is attributed to their lower cost in comparison to epoxy based mortars. The polymer modified cementitious mortars are also easy to use and can be used for both structural and non-structural repairs, which has added to their popularity in the market.

Structural is the faster-growing grade in the market during the forecast period. The repair mortars used in the structural repair of the building are called structural grade mortars. These mortars are primarily used in the buildings & carparks, roads, industries, and marine infrastructure. Builders are more concerned about structural damages than non-structural damages. The structural damages can be fatal for the structures if they are not periodically maintained. Most of the aging buildings and bridges are likely to have structural damages. These factors are expected to drive the growth of the structural grade concrete repair mortars during the forecast period.

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Based on type, polymer modified cementitious mortars is expected to be the largest and fastest-growing segment during the forecast period. These mortars are cheaper than Epoxy-based mortars. They are highly customizable and suitable in a wide range of applications. The hand/ trawling application method is the most widely used method of application for concrete repair mortars, due to the ease of usage and ability to cover vertical cracks in the structure. The structural grade is the faster-growing grade, globally, as the user considers structural repair to be more important than non-structural repair.

The concrete repair mortars market is divided into five regional segments, namely, North America, Europe, APAC, Middle East & Africa, and South America. APAC is the largest and fastest-growing region for the concrete repair mortars market during the forecast period. The high population growth in the region has put extreme pressure on the present infrastructure of the region. To support the existing infrastructure, periodic repair is needed, which has led to high rise in the demand for concrete repair mortars in the region.

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