Luton, Bedfordshire, United Kingdom, March 21, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Shotcrete/Sprayed Concrete Market.
The global shotcrete/sprayed concrete market is expected to grow at 8.1% CAGR from 2023 to 2029. It is expected to reach above USD 16.13 billion by 2029 from USD 8 billion in 2022.
Shotcrete or sprayed concrete is a type of specialty concrete that is sprayed onto a building's surface at high velocity through a pressure-resistant, sealed hose. The shotcrete/sprayed concrete application method is adaptable and cost-effective. The concrete mix is blown onto the substrate through a spraying nozzle after being hydrated with water. There are some advantages to shotcrete or sprayed concrete over regular concrete. Constructions benefit from their high mechanical strength and toughness. They have a high compressive strength and dense compaction because they use less cement to water. The construction is also able to achieve improved bond strength and low water permeability thanks to the application of shotcrete or sprayed concrete. Additionally, it saves time and money on formwork.
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Asia Pacific 38% dominates the Shotcrete/sprayed concrete market owing to the presence of major players in the region
Asia-Pacific shotcrete market share is driven by rapid urbanization, population growth, and upcoming infrastructure projects. For instance, Indian government has taken various initiatives to boost the developments in construction sector. The Smart Cities Mission launched by Indian government promotes the development of cities to build clean and sustainable infrastructure along with giving decent quality of life to their citizens. To boost the economic growth in China, the Chinese government is investing heavily in the large infrastructure projects.
Product Launches and Product Expansions
- In February 2021, Sika launched a new recycling process for old concrete where old concrete is divided into portions of stone, sand, and limestone by an efficient and straightforward process, which also binds about 60 kg of CO2 per crushed material. waste demolition concrete. With the brand name reCO2ver, the renaming will significantly reduce the environment for the construction industry.
- BASF SE launched its Virtual Design and Construction resource center, which offers Building Information Modeling content as well as other digital services to its project owners.
Growth Factors:
- Increasing demand for shotcrete in the construction industry as a result of its advantages over traditional construction methods.
- The growing popularity of sprayed concrete as a rehabilitation and repair material due to its ability to restore structural integrity and extend the life of infrastructure assets.
- Rising demand for sprayed concrete in mining and tunneling applications due to its superior properties compared to other conventional materials such as mortar or cement grout.
- Increasing use of shotcrete/sprayed concrete in landscaping and architectural applications due to its decorative finish options and low maintenance requirements, etc.
Rise in construction activities is the main driver of growth of shotcrete/sprayed concrete market.
Shotcrete market is gaining huge popularity owing to rapid surge in construction activities such as development of smart cities, metropolis, industrialization, bridges, and underground structures. Shotcrete also known as sprayed concrete is an efficient technique of spraying concrete onto free form surfaces and complex structures such as tunnels. Various benefits offered by shotcrete process incudes durability, high tensile strength, low permeability, thermal efficiency, and fire retardation. It is commonly used in repair works for repair of fire and earthquake damage and deteriorated surfaces, encasing structural steel for fireproofing, and strengthening walls.
Another major driver of the shotcrete/sprayed concrete market is rapid economic development and growing urbanization.
The shotcrete/sprayed concrete market is primarily driven by increasing underground construction activities, rapid economic development and growing urbanization, increasing underground transportation, technical efficiency of shotcrete and increasing activities of mining and tunnelling. Moreover, the shotcrete/sprayed concretes market is also driven by increasing construction of free form structures such as sculptures, theme park elements, climbing walls and water-retaining structures including river and sea walls, dams, storage reservoirs, swimming pools, canal linings and water towers. Furthermore, shotcrete/sprayed concrete manufacturers are continuously developing new technologies and advanced equipment for shotcrete/sprayed concrete application.
Report Scope:
| Report Attribute | Details |
| Market Size in 2029 | USD 20.99 billion by 2029 |
| CAGR | 5.2% (2023–2029) |
| Base Year | 2021 |
| Forecast Period | 2023–2029 |
| Historical Data | 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Product, End-User, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers |
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Shotcrete/Sprayed Concrete Market Players
The shotcrete/sprayed concrete market key players include BASF SE, Heidelberg Cement AG, Grupo ACS, Lafargeholcim Ltd., Cemex S.A.B. De C.V., Sika AG, GCP Applied Technologies, Vulcan Materials Company, Mapei S.p.A., Normed, The Euclid Chemical Company, KPM Industries Ltd., The QUIKRETE Companies, Ductal, Gunform International Limited, Kryton International Inc., Lkab Berg &Betong AB, Prestige Concrete Products, Tarmac Building Products Limited.
Browse In-depth Market Research Report (136 pages) on Sprayed Concrete
https://exactitudeconsultancy.com/reports/5502/shotcrete-sprayed-concrete-market/
Segment Overview
Shotcrete/Sprayed Concrete Market is segmented by Process, by Applications, and by Technique.
| by Process | by Applications | by Technique | by Regions |
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Shotcrete/Sprayed Concrete Market Dynamics
Drivers
- Rising usage Shotcrete and sprayed concrete in commercial and non-commercial construction.
The demand for shotcrete and sprayed concrete is also being driven by an increase in demand from construction. One excellent option for building a swimming pool is shotcrete or sprayed concrete. Concrete swimming pool structures of all sizes can be constructed thanks to the material's adaptability. The market is expected to expand due to rising demand for shotcrete/sprayed concrete in both commercial and residential construction.
- Increased demand for Shotcrete/sprayed concrete in the construction of water-retaining structures
An expanding supply of materials like water, gas oil, and shotcrete/sprayed concrete is extensively utilized for the construction of underground tunnel systems like tunnel walls and linings. As a result, the market's expansion is anticipated to be aided by rising tunnel system demand for shotcrete/sprayed concrete during the forecast period. growing application of shotcrete/sprayed concrete in construction and infrastructure
Shotcrete/sprayed concrete is also used in the construction of water-retaining structures such as river and sea walls, storage reservoirs, dams, canal linings and water towers. Construction of dams and bridges lead the shotcrete/sprayed concrete market and is likely to ascend at a high growth rate. The mounting demand for shotcrete/sprayed concrete in the construction of shore protection applications is estimated to grow further in the forecast period.
Opportunities
- Increased demand for shotcrete/sprayed concrete for repairs and maintenance of existing structures
It is anticipated that the increase in demand for shotcrete/sprayed concrete will result in numerous new opportunities for the expansion of the shotcrete/sprayed concrete market. A significant portion of global demand is caused by the need for frequent repairs and maintenance as a result of harmful effects on the environment. It is anticipated that the existence of outdated infrastructure in developed nations will typically drive the demand for shotcrete or sprayed in repairs and maintenance.
Restraints/ Challenges
- Requirement of skilled labor
Shotcrete/sprayed concrete requires skilled nozzlemen or operators for the concrete spraying process to get maximum effectiveness because water to cement ratio must be maintained accurately. The existence of extra water can compromise the quality of concrete, leading to decreased durability and strength, which is estimated to restrain the shotcrete/sprayed concrete market share.
Key Question Answered
- What is the current size of the shotcrete/sprayed concrete market?
- What are the key factors influencing the growth of shotcrete/sprayed concrete?
- What are the major applications for shotcrete/sprayed concrete?
- Who are the major key players in the shotcrete/sprayed concrete market?
- Which region will provide more business opportunities for shotcrete/sprayed concrete in future?
- Which segment holds the maximum share of the shotcrete/sprayed concrete market?
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