Dublin, Aug. 04, 2023 (GLOBE NEWSWIRE) -- The "Underwater Concrete Market by Raw Material (Concrete, Precast Concrete), Application (Dams & Reservoirs, Marine Constructions, Underwater Repairs, Offshore Wind Power Generation, Tunnel), Laying Techniques, and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The underwater concrete market is experiencing remarkable growth, with an estimated size of USD 135.7 billion in 2023 and a projected reach of USD 175.8 billion by 2028, showcasing a CAGR of 5.3%
Underwater concrete is a specialized construction material designed for placement and hardening in submerged conditions, making it ideal for marine and subsea applications where traditional methods are impractical. Its unique properties, including high workability, good cohesion, low washout characteristics, and rapid setting time, allow it to gain strength underwater.
This market study provides a comprehensive analysis of the underwater concrete market, covering various segments based on end-use, process, material, material thickness, press, and region. Additionally, it includes an in-depth competitive analysis of key players in the industry, their company profiles, product observations, recent developments, and growth strategies, contributing to their success in the underwater concrete market.
The Asia Pacific region, witnessing significant infrastructure development, especially in ports, harbors, offshore structures, and underwater tunnels, is a major driving force for the underwater concrete market's growth. Countries like China, Japan, and Singapore are heavily investing in expanding their marine infrastructure to support maritime trade activities and efficient transportation systems, further bolstering the demand for underwater concrete.
Moreover, the rise in global population and urbanization has led to increased construction of coastal structures and offshore installations, creating substantial opportunities for underwater concrete applications in constructing breakwaters, jetties, underwater foundations, and marine structures.
Key companies such as Cemex, S.A.B. de C.V. (Mexico), Heidelberg Materials (Germany), Sika AG (Switzerland), Conmix (UAE), RPM International Inc. (US), and others play a pivotal role in driving innovation and growth within the underwater concrete market.
By Raw Material, Precast Concrete accounted for the highest CAGR during the forecast period.
Out of the three raw materials (concrete, precast concrete, and others), precast concrete is the fastest-growing segment during the forecast period.
Precast Concrete exhibits excellent strength & durability, offers a high degree of design flexibility, high fire resistance, good sound insulation, and exhibits resistance to several environmental factors including weathering, chemical exposure, and abrasion.
Hence, such properties help the precast concrete to be used in marine structures, such as seawalls, breakwaters, harbor structures, jetties, offshore platforms, and other marine infrastructure, etc.
By Laying Techniques, the Tremie method accounted for the highest CAGR during the forecast period.
Out of the four laying techniques (tremie method, bucket placing, pump method, and others), tremie method is the fastest-growing segment during the forecast period.
The tremie method offers efficient and controlled placement of concrete in underwater conditions. It involves the use of a tremie pipe, which is lowered into the water with its lower end kept immersed in the concrete.
By continuously pouring the concrete from the top of the pipe, the heavier concrete displaces the water, allowing it to flow through the pipe and fill the desired location without significant segregation or washout. This controlled placement ensures the integrity and quality of the concrete structure.
By Application, offshore wind power generation accounted for the highest CAGR during the forecast period.
Out of the six applications (Dams & reservoirs, Marine constructions, Underwater repairs, Offshore wind power generation, Tunnels, and others), offshore wind power generation is the fastest-growing segment during the forecast period.
The increasing demand for electricity and growing concern about environmental pollution are the driving factors to construct offshore wind power generation units worldwide. Many countries have significant offshore wind resources that remain untapped.
As technological capabilities improve, deeper waters and areas farther offshore can be developed for wind power generation. This expansion of the offshore wind potential opens up new markets and investment opportunities, contributing to the fast-growing nature of the segment.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 215 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $135.7 Billion |
| Forecasted Market Value (USD) by 2028 | $175.8 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
Premium Insights
- Emerging Economies to Offer Lucrative Opportunities in Underwater Concrete Market
- Asia-Pacific: China Accounted for Largest Share in 2022
- Concrete Segment to Account for Largest Share in 2028
- Offshore Wind Power Generation to Record Fastest Growth During Forecast Period
- Underwater Concrete Market to Register Highest CAGR During Forecast Period
Market Dynamics
Drivers
- Increased Marine Construction Activities
- Use of Advanced Curing Methods with Water-Saturated Blankets and Membranes
- Reconstruction of Ports and Harbors
- Rising Population and Urbanization
Restraints
- Technical Complexity and Safety Risks
- Adverse Environmental Effects on Marine Ecosystem
- Opportunities
- Scaling Up Use of Offshore Wind Turbines
Challenges
- Low Curing Rates and Leaching of Cementitious Materials
- High Cost and Intense Competition
Regulatory Landscape
- American Concrete Institute
- International Organization for Standardization
- British Standards Institution
- Regulatory Bodies, Government Agencies, and Other Organizations
Supply Chain Analysis
- Raw Material & Transportation
- Production
- Distribution
- End Use Application
- After-Sales Support
Case Study Analysis
- Hong Kong-Zhuhai-Macao Bridge Project to Construct Underwater Foundation for Bridge Piers
- Thames Tideway Tunnel Project to Build Resilient Concrete Tunnel
Company Profiles
Key Players
- Sika Ag
- Rpm International Inc.
- Mapei S.P.A.
- Buzzi S.P.A.
- Ashland
- Cemex, S.A.B. De C.V.
- Conmix
- Rockbond Scp Ltd.
- Unibeton Ready Mix
- Tarmac
- Heidelberg Materials
Other Players
- Evonik Industries Ag
- Wieser Concrete
- Fosroc, Inc.
- Qanbar Readymix
- Gcp Applied Technologies Inc.
- Five Star Products, Inc.
- Keohane Readymix
- Fritz-Pak Corporation
- Muhu (China) Construction Materials Co. Ltd.
- Titan America LLC
- Kryton International Inc.
- Chryso
- Xypex Chemical Corporation
- Schomburg
- Russtech, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/qawln5
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