Global Shotcrete/Sprayed Concrete Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Shotcrete/Sprayed Concrete Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Shotcrete/Sprayed Concrete market finds that the global Shotcrete/Sprayed Concrete market reached a value of USD 7287.28 million in 2022. It’s expected that the market will achieve USD 9846.37 million by 2028, exhibiting a CAGR of 5.14% during the forecast period.

Region Overview:

From 2023-2028, Europe is estimated to witness robust growth prospects.

Company Overview:

Sika AG is one of the major players operating in the Shotcrete/Sprayed Concrete market, holding a share of 8.12% in 2018.

Sika has agreed to acquire King Packaged Materials Company, a large independent Canadian manufacturer of dry shotcrete and mortars for concrete repair. With the acquisition Sika will further expand its geographical footprint in Canada and improve its growth potential in the home improvement, construction, mining and tunneling markets. The acquired business generates annual sales of CHF 61 million with a workforce of 180 employees. Closing of the transaction is expected to take place in the second quarter 2019.

King is a family owned business and a well-established manufacturer of products for the construction and mining industry as well as for the home improvement distribution channel. The portfolio includes shotcrete solutions, grouts, and repair and masonry mortars.

The company has an excellent reputation for its recognized brands, its high quality and reliable product solutions, and its strong technical sales expertise. King operates three large state-of-the-art plants, two of which are located at Boisbriand, Quebec, close to Montreal, and at Brantford, Ontario, near Toronto, which are the most populated regions in Canada with dynamic construction activities. Another plant is situated in Sudbury, Northern Ontario, close to the mining industry.

Christoph Ganz, Regional Manager Americas: With the acquisition of King and its broad and highly complementary product offering we will further strengthen our presence in Canada and open up exciting new cross-selling opportunities. Especially in the home improvement market and in the growing tunneling and mining market segments, the acquisition of King Packaged Materials will make Sika one of the leading suppliers of concrete solutions in Canada. We look forward to a successful joint future and would like to extend a very warm welcome to all King employees as they join the Sika team.

The owners of King Packaged Materials Company, the Hutter and Macpherson families, strongly believe that Sika is the ideal partner to continue the growth of King products in all of their market sectors. They look forward to the joint business and sales activities which offer great potential to expand the product portfolio across Canada and internationally.

Segmentation Overview:

Among different product types, Wet Mix segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Underground Construction segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Shotcrete/Sprayed Concrete market covered in Chapter 3:

CEMEX S.A.B. de C.V.
Kryton International Inc.
Mapei
Others
Gunite Group
Sika AG
IKAB
Atlas Copco AB
Normet Group
Gunform International Limited
HeidelbergCement AG
BASF SE

In Chapter 4 and Chapter 14.2, on the basis of types, the Shotcrete/Sprayed Concrete market from 2018 to 2029 is primarily split into:

Dry Mix
Wet Mix

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Shotcrete/Sprayed Concrete market from 2018 to 2029 covers:

Underground Construction
Water Retaining Structures
Protective Coatings
Repair Works

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)