Shotcrete Market By Technique (Wet Mix, Dry mix), By System (Manual, Robotic Spraying), By Application (Underground construction, Inground swimming pool, Water retaining structure, Protective coating, Repair works), By Equipment (General Equipment, Auxiliary Equipment, Special Equipment): Global Opportunity Analysis and Industry Forecast, 2020-2030
The global shotcrete market was valued at $5.6 billion in 2020, and is projected to reach $10.8 billion by 2030, growing at a CAGR of 6.9% from 2021 to 2030.
Shotcrete is a technique used to pneumatically spray concrete through a hose at high velocity onto the surface. Increase in underground construction activities, rise in economic development, urbanization, surge in underground transport, growth in shotcrete technological efficiency, and increase in mining & tunneling activities drive the growth of the market. In addition, increase in the construction of free-form structures, including sculptures, theme park elements, climbing walls, and water-retaining structures, including river & sea-walls, dams, storage reservoirs, swimming pools, canal lines, and water towers, are expected to provide lucrative growth opportunities for the market during the forecast period.
Furthermore, shotcrete concrete producers continuously develop new technologies and advanced shotcrete concrete application equipment, driving the demand for shotcrete concrete during the forecast period. Shotcrete is very flexible construction material that can be conveniently placed and used for a range of concrete repair applications. Concrete repairs are considered most reliable and inexpensive solution, due to the fact that certain repair applications do not need shape function. In addition, rendering the conventional trowel is impractical and expensive compared to concrete spraying , due to the fact that corrosion of concrete observed on wide vertical surfaces. Shotcrete restore lines and walls of canals, rivers, road bridges, tunnels and natural rock walls. .
The major restraint observed in the growth of shotcrete concrete market is shortage of skilled labor for various construction activities. All commercial and residential builders face shortage of labor. Many skilled construction workers left the industry during recession. Individuals who enter as labor do not work in the field of construction. The problem has reached such a wide scale that the stunted growth in the industry has caused the builders financial problems. Thus, shortage of labor hinder the growth of the market in the forecast period.
Some of the construction operations were ceased , owing to unavailability of migrant labor during the pandemic , which, in turn, hinders the growth of the shotcrete concrete market.
The global shotcrete market is segmented on the basis of technique, system, application, equipment, and region.
Depending on the technique, it is divided into wet mix and dry mix. According to the system, it is categorized into manual and robotic spraying. As per the application, it is categorized into underground construction, water retaining structures, protective coatings, and repair works. On the basis of equipment, it is segregated into general equipment, inground swimming pool auxiliary equipment, and special equipment. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe is the leading region in terms of demand for shotcrete and is expected to maintain its dominance during the forecast period. High adoption of shotcrete as protective coating and presence of huge infrastructural activities in the region continue to bolster the shotcrete market size, due to the presence of investment in the construction activities and repair works.
The key players profiled in shotcrete market report include BASF SE, Heidelberg Cement, Grupo ACS, Lafargeholcim, Cemex, Sika AG, GCP Applied Technologies, the U.S. Concrete, Mapei, and Normet.
The other key players (not profiled in report) in the value chain include Lkab Berg and Betong Quikrete cement and concrete products, Tutor Perini Corporation, Thiessen Team, and SAN. are competing for the share of the market through product launch, joint venture, partnership, and expanding the production capabilities to meet the future demand for the shotcrete market in the forecast period.
Key Benefits for Stakeholders
This report provides a detailed quantitative analysis of the current shotcrete market trends and estimations from 2020 to 2030, which assists to identify the prevailing opportunities.
An in-depth analysis of shotcrete market across the globe is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate specific plans.
A comprehensive analysis of the factors that drive and restrain the growth of the market is provided.
Region-wise and country-wise market conditions are comprehensively analyzed in this report.
The projections in this report are made by analyzing the current trends and future market potential from 2021 to 2030 in terms of value.
An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global shotcrete market.
COVID-19 Impact Analysis:
The global crisis caused by COVID-19 pandemic negatively impacted the economy affecting the global trade. COVID-19 pandemic affected various industries and shotcrete market has experienced negative impact, owing to financial recession in construction industry that has led to unemployment and postponement or cancellation of construction projects. This impact is being faced by various countries, creating uncertainty and unrest. The diversion of government budgets toward healthcare sector brought construction projects to halt. Social distancing norms and import-export restrictions led to unavailability of raw materials and shortage of labor. Hence, operational restrictions and disrupted supply chains negatively impacted shotcrete market size during the pandemic.
Key Market Segments
By Technique
Wet Mix
Dry mix
By System
Manual
Robotic Spraying
By Application
Underground construction
Inground swimming pool
Water retaining structure
Protective coating
Repair works
By Equipment
General Equipment
Auxiliary Equipment
Special Equipment
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Turkey
Italy
Switzerland
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
UAE
Qatar
Rest of LAMEA
Key Market Players
BASF SE
Heidelbergcement
Grupo ACS
Lafargeholcim Ltd.
Cemex S.A.B. De C.V.
Sika AG
GCP Applied Technologies
U.S. Concrete Inc
Mapei S.P.A.
Normet Group
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