Wilmington, Delaware, United States, May 12, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The Global Shotcrete/Sprayed Concrete Market size stood at US$ 8.6 Bn in 2022 and is anticipated to reach US$ 15.9 Bn by 2031. The global market is estimated to expand at a CAGR of 7% between 2023 and 2031.
Shotcrete is a type of concrete that can be sprayed on a surface quickly to produce a thick coating of material that is both strong and long-lasting. It is a highly effective technique to apply concrete since it does not require formwork and uses less manpower.
Rise in need for concrete repair as well as rehabilitation is anticipated to boost the shotcrete/sprayed concrete industry at a rapid pace in the near future. Development of the industry is also being aided by the increase in popularity of subterranean building projects. Companies are making significant investments in production as well as capacity expansion in order to gain a larger Shotcrete/Sprayed Concrete Market share.
A major benefit offered by shotcrete is the rapid pace with which it can be applied. Concrete has to be poured into forms using conventional techniques of concrete installation, and then the forms must sit there until the concrete has dried. In contrast, shotcrete does not require formwork and can therefore be placed straight on a surface.
This enables significantly faster construction timeframes, which can prove beneficial in circumstances where time is of utmost importance, including emergency repairs. This factor is anticipated to drive market development
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Key Findings of Market Report
- In terms of type, the wet-mix type segment is projected to lead the global market in the near future. Rebound, or waste that springs out of the surface throughout the spraying process is less likely to occur with wet-mix shotcrete. It offers greater surface bonding and is less likely to rebound, which leads to a finished product of superior quality. Wet-mix shotcrete is a better solution owing to its uniformity and ease of use.
Global Shotcrete/Sprayed Concrete Market: Growth Drivers
- The global Shotcrete/Sprayed Concrete Market is anticipated to grow in the near future due to growing emphasis on speeding up construction. Shotcrete has the advantage of being simple and precise to use. Concrete can be applied or sprayed onto the surface in any contour or shape, thus rendering it a perfect material for complicated geometries or uneven surfaces.
Furthermore, using a high-pressure nozzle enables precise application of concrete, thereby producing a finished product that is more consistent and uniform. Therefore, a greater emphasis on speeding up construction is anticipated to fuel the global market for shotcrete and sprayed concrete. - Increase in investment in infrastructure development is estimated to boost market demand. Existing infrastructure is under tremendous pressure due to population explosion. Governments and corporate organizations are making investments in fresh infrastructural projects to improve connectivity, mobility, and accessibility to basic services. Since shotcrete sets up quickly and has a high strength-to-durability ratio, it has become more popular than traditional concrete.
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Global Shotcrete/Sprayed Concrete Market: Regional Landscape
- Based on region, Europe is anticipated to have the highest market share between 2023 and 2031. The business growth of the North America market is fueled by presence of trained personnel, expansion of the construction industry, and well-established infrastructure. Construction of subterranean tunnels, mining activities, and various other infrastructure projects generate considerable demand for shotcrete throughout Europe.
The region has developed infrastructure, and the building sector is renowned for its high standards and use of cutting-edge technology. A highly trained labor force and sophisticated research and development skills found in Europe allow for the creation of effective and innovative shotcrete products.
Global Shotcrete/Sprayed Concrete Market: Key Players
Some of the key players in the global Shotcrete/Sprayed Concrete Market are as follows:
- GCP Applied Technologies
- Earth Friendly Concrete
- LKAB Berg & Betong
- KPM Industries Ltd.
- Mapei S.p.A
- CEMEX
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Global Shotcrete/Sprayed Concrete Market: Segmentation
Type
- Wet-mix
- Dry-mix
System
- Robotic System
- Manual System
Application
- Repair Works
- Bridges
- Marine Structures
- Spillway Surface
- Tunneling
- Slope Protection
- New Structures
- Water Retaining Structures
- Others
End-use
- Residential
- Commercial
- Industrial
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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