Austin, Oct. 29, 2024 (GLOBE NEWSWIRE) -- According to the new market research report The Concrete Restoration Market is expected to reach USD 31.8 billion by 2032, reflecting a compound annual growth rate (CAGR) of 6.4% from 2024 to 2032.
Key Drivers Influencing Market Growth
Demand for concrete restoration is largely driven by the aging of infrastructure, as several countries with timeworn structures in dire need of repair represent a huge market opportunity for the stakeholders and incentives to stop deterioration at its tracks. Over many years of harsh weather with freezing and thawing, excessive traffic pressure, or exposure to chemicals, concrete can deteriorate and develop cracks and spalling leading to a compromise in the structural capacity of the member. The degradation of these assets not only threatens the safety and performance of critical infrastructure like roads, bridges, public buildings, etc. but also poses economic risks (accidents and higher maintenance costs). Consequently, both governments and the private sector are investing more resources in restoration to prolong the useful life of such structures and people's safety.
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Key Players
- Sika AG (Sika MonoTop)
- Fosroc International Ltd (Renderoc HB2)
- Mapei S.p.A (Planitop 400)
- BASF SE (MasterEmaco S 488)
- Saint-Gobain Weber S.A. (Webercem HB30)
- Master Builders Solutions (MasterBrace ADH 1460)
- Fyfe Co. LLC (Tyfo Fibrwrap)
- The Euclid Chemical Company (Duralflex Fastpatch)
- RPM International Inc. (Rust-Oleum EpoxyShield)
- Pidilite Industries Ltd (Dr. Fixit Pidicrete URP)
- 3M Company (3M Concrete Repair Self-Leveling)
- Cemex S.A.B. de C.V. (Proconcrete Repair M)
- Parchem Construction Supplies Pty Ltd (Emer-Proof Aqua-Barrier)
- GCP Applied Technologies Inc. (Silcor 900 HA)
- Ardex Group (Ardex A 38 MIX)
- W.R. Meadows Inc. (Meadow-Patch T1)
- Laticrete International Inc. (NXT Level Plus)
- Simpson Strong-Tie Company Inc. (SET-XP Epoxy Anchoring Adhesive)
- Kryton International Inc. (Krystol T1 Concrete Waterproofing)
- Nafico Ltd. (Nafico Mortar L1)
Along with a safety issue, the current trend in construction is towards staying on the path of sustainability. Instead of building new, retrofitting can substantially decrease both material waste and CO2 emissions from demolition as well as reconstruction. This transition to maintenance and rehabilitation aligns with a more sustainable infrastructure management strategy, which translates into increased demand for concrete restoration.
Emerging Trends and Technological Innovations
There are many emerging trends and technological innovations in repair and maintenance solutions in the concrete restoration market. Importantly, material science has discovered new high-performance concrete mixes and self-healing technologies that will accentuate the durability and sustainability of the restoration-satisfied structure. These new materials contain microcapsules that will release a healing agent when they crack, making repairs less often necessary. By implementing sensor-based monitoring systems and other intelligent technologies for restoration, restorers can assess the integrity of the structures as soon as it happen, allowing for preventive measures before any severe deterioration takes place.
Opportunities in the Concrete Restoration Market
The industry is projected to grow rapidly and the trend continues, thriving for several reasons stated below. As the world becomes urbanized, there will be a greater focus on improving existing infrastructure instead of constructing new construction. Such development provides opportunities for companies offering restoration solutions, especially those that deal with sustainable practices and eco-friendly materials. On the other hand, governmental programs focused on public safety and better quality of the infrastructure also offer a beneficial tier for stimulating restoration investment.
In addition, technological trends such as smart monitoring systems and advanced repair materials offer market participants the opportunity for more performance-based restoration solutions. In response to consumer awareness driving companies to innovate in the face of climate change particularly low-carbon products and services (representing a global push towards ethical solutions) are top choices for consumers. In addition, the application of bio-based materials and recycling aggregation are opening new products for eco-friendly customers. In conclusion, the combination of urbanization, regulatory support, and technological advancements along with sustainability concerns unlocks a wide potential for growth in the concrete restoration market.
Concrete Restoration Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 17.1 Billion |
| Market Size by 2032 | US$ 31.8 Billion |
| CAGR | CAGR of 6.4% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Material Type (Shotcrete, Quick setting cement mortar, Fiber concrete, Others (concrete bonding agents, grout, etc.)) • By Application (Water and wastewater treatment, Dams & Reservoirs, Roads, Highways & Bridges, Marine, Buildings & Balconies, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America |
| DRIVERS | • Increasing demand for the infrastructure. • Increasing population. |
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Which Regional Dominated in the Concrete Restoration Market?
Asia Pacific held the largest market share around 55% in 2023. Due to several factors contributing to infrastructural growth, the Asia Pacific region has the highest share of markets in the concrete restoration market. Countries such as China and India are witnessing huge investments in rapid urbanization to cater to hundreds of millions of people and businesses, However, with the growth of cities, efforts to preserve or rehabilitate decaying concrete infrastructure roads, bridges, and public buildings–become more important for integrity.
Similarly, Asia Pacific government initiatives are placed on upgrading and safety improvement by way of enhancing funding as well as regulatory support. Additionally, increasing awareness regarding sustainable construction practices is boosting the demand for green restoration solutions in the region. Consequently, urban growth, tougher safety regulations, and sustainable approaches have made the Asia Pacific region a leader in this concrete restoration market with the largest market share and prosper even further during the forecasted period. Moreover, in the Asia Pacific region is from the Asian Development Bank (ADB), reported that the region will need to invest approximately USD 26 trillion in infrastructure by 2030 to maintain growth and address climate change, with a significant portion of this funding directed toward the maintenance and restoration of existing infrastructure.
Market Analysis by Material Type Segment
Quick-setting cement mortar held the largest revenue share of about 48% in 2023. This mortar is specially designed to develop early strength so that repairs can be carried out quickly and the downtime made shorter, which are extremely important in business as well as residential applications. With increasing focus on the speedy execution of projects and the solidification of structures requiring assurance many contractors and construction professionals tend to favor quick-setting solutions hence translating the increase in demand for them. Moreover, newer formulations have allowed for enhanced performance properties synonymous with this polymer like durability and adhesion, serving as a catalyst for more widespread adoption. This is one of the reasons why quick-setting cement mortar has maintained its top position in the revenue share of the Concrete Restoration Market segment owing to speed, efficiency, and flexibility factor.
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Market Analysis by Target Application
The buildings and balconies segment held the largest market share around 40% in 2023. It is due to essential elements of urban infrastructure and requires regular maintenance & repairs. With the ongoing growth and upcoming expansion of modern-day cities, buildings inevitably encounter issues as they are exposed to weather, wear and tear over time, and overall aging of structure. Balconies are extremely vulnerable to ambient environmental factors such as moisture, UV rays, and temperature fluctuations which lead to damage over time.
Moreover, growing awareness among property owners and managers regarding structural integrity and safety standards on-site fuels demand for restorative services in this segment. This demand is further heightened by the need for building code and safety standards compliance.
Recent Developments
- In 2023, Sika introduced a new range of eco-friendly concrete repair products designed to enhance the sustainability of restoration projects. These products utilize recycled materials and are formulated to reduce environmental impact while maintaining high performance.
- In 2023, Mapei expanded its product line with the introduction of a high-performance, lightweight repair mortar. This product is specifically designed for applications on balconies and terraces, providing superior adhesion and durability against weathering.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production Capacity and Utilization, by Country, by Type, 2023
5.2 Feedstock Prices, by Country, by Type, 2023
5.3 Regulatory Impact, by Country, by Type, 2023.
5.4 Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by Region
5.5 Innovation and R&D, by Type, 2023
6. Competitive Landscape
7. Concrete Restoration Market Segmentation, by Material Type
8. Concrete Restoration Market Segmentation, by Target Application
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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