New York, United States , Jan. 29, 2024 (GLOBE NEWSWIRE) -- The Global Concrete Repair Mortars Market Size to Grow from USD 3.50 Billion in 2022 to USD 5.10 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 3.84% during the Forecast period.
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A variety of reasons contribute to the expansion of the concrete repair mortars industry. To begin, the expanding global need for infrastructure rehabilitation and maintenance projects has boosted the requirement for effective and long-lasting repair solutions. Concrete structure deterioration is compounded by ageing infrastructure and environmental variables, resulting in a perpetual need for repair and restoration. In addition, scientific advancements and the development of unique formulas have resulted in the introduction of high-performance concrete repair mortars. These new products improve durability, toughness, and use, propelling market expansion even further. Furthermore, rising urbanisation and industry in various locations contribute to the expansion of the building sector, resulting in increased use of concrete repair mortars.
Concrete Repair Mortars Market Value Chain Analysis
Suppliers supply raw materials such as cement, aggregates, polymers, additives, and chemicals used in the production of concrete repair mortars. In the development of concrete repair mortars, manufacturers or producers play a significant role. They integrate and process raw ingredients to create the completed product while ensuring that quality standards and criteria are met. After being prepared, the concrete repair mortars are distributed via several routes. Transporting materials from manufacturing facilities to wholesalers, retailers, or directly to construction sites necessitates logistics and transportation. Wholesalers purchase in bulk from manufacturers and resell to retailers. The products are subsequently sold by retailers to building companies, contractors, and end users. Contractors and construction companies play important roles in the value chain. The ultimate end-users are the entities involved in infrastructure projects, such as government agencies, commercial developers, and organisations in need of concrete repair solutions for their structures.
Browse key industry insights spread across 200 pages with 100 Market data tables and figures & charts from the report on the " Global Concrete Repair Mortars Market Size By Type (Epoxy Based Mortars, Cementitious Based Mortars), By Application (Spraying, Manual or Hand Mixing), By Region, And Segment Forecasts, By Geographic Scope And Forecast."
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Insights by Type
The epoxy-based mortars segment accounted for the largest market share over the forecast period 2023 to 2032. The strength and durability of epoxy-based mortars are widely known. They produce a solid bond with concrete surfaces, enabling for long-term repairs and greater structural stability. This feature qualifies them for high-performance applications. When compared to alternative repair materials, many epoxy-based mortars set and cure quickly. By expediting building and repair deadlines, this rapid curing technique lowers downtime and boosts overall efficiency. Epoxy-based mortars adhere well to a wide range of substrates, including concrete, metal, and masonry. They can be employed in a range of applications due to their adaptability, ranging from restoring concrete structures to bonding various materials.
Insights by Application
The spraying segment accounted for the largest market share over the forecast period 2023 to 2032. Spraying is a quick and easy approach to apply concrete repair mortars. When compared to traditional methods such as trowel application, it enables quick and consistent coverage over large surface areas while reducing application time. Traditional application methods are time-consuming, which spraying avoids. A smaller team can spray more areas in less time, resulting in total project cost efficiency. Spraying enables for more precise mortar application, ensuring that the material reaches the required locations. This precision is critical for obtaining the desired structural and aesthetic outcomes in repair initiatives.
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Insights by Region
North America is anticipated to dominate the Concrete Repair Mortars Market from 2023 to 2032. Because of the region's extensive infrastructure, which includes highways, bridges, and buildings, the market for North American concrete repair mortars is enormous. Growth is driven by ongoing repair and maintenance projects, as well as the demand for long-term solutions. North American cities' urbanisation and population growth drive increasing demand for housing and transportation infrastructure. As a result, the need for concrete repair solutions is increasing. A number of well-known manufacturers and services serve the North American market. These companies offer a wide range of products to fulfil a wide range of application needs.
Asia Pacific is witnessing the fastest market growth between 2023 to 2032. The Asia-Pacific region is a massive and rapidly growing market for concrete repair mortars. Construction and infrastructure development projects in China, India, and Southeast Asian countries contribute to grow the business. Rapid urbanisation in Asia-Pacific enhances the demand for housing and transportation infrastructure. Concrete repair solutions are in high demand as a result of the ensuing construction projects. Construction operations are ongoing to meet the rising population in many Asia-Pacific countries due to high population density.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Key Players In the Global Concrete Repair Mortars Market Include Fosroc International Ltd., Adhesive Technology Corporation, Ardex Group, Saint-Gobain Weber S.A., Baumit, Sika AG, Normet, Bostik, Mapei S.P.A, Pidilite Industries Ltd, Flexcrete Technologies Ltd., BASF SE, The Euclid Chemical Co., Others.
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Recent Market Developments
- In November 2022, Cortec Corporation, a corrosion-prevention business, has introduced new vertical and overhead repair mortars to prevent corrosion and reduce the risk of the ring-anode effect.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2032.
Concrete Repair Mortars Market, Type Analysis
- Epoxy Based Mortars
- Cementitious Based Mortars
Concrete Repair Mortars Market, Application Analysis
- Spraying
- Manual or Hand Mixing
Concrete Repair Mortars Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
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