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.
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.
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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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SHOTCRETE MARKET, BY TECHNIQUE
CHAPTER 5: SHOTCRETE MARKET, BY SYSTEM
CHAPTER 6: SHOTCRETE MARKET, BY APPLICATION
CHAPTER 7: SHOTCRETE MARKET, BY EQUIPMENT
CHAPTER 8: SHOTCRETE MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Shotcrete Market,' the shotcrete market was valued at $5.6 billion in 2020, and is estimated to reach $10.9 billion by 2030, growing at a CAGR of 6.91% from 2021 to 2030.global shotcrete market is significantly expanding, owing to rapid surge in construction activities, including 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, including 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. High efficiency offered by shotcrete process, due to the fact that it is economical. It requires less formwork compared to conventional concrete method. This factor drives the shotcrete demand. In shotcrete process the cement content is high which makes it more durable. Shotcrete process resists freezing and thawing. Shotcrete offers sustainability, owing to higher percentage of recycled material and presence of high thermal mass, which helps in development of energy-efficient structures. In addition, shotcrete eliminates the need for engineered concrete footings for one-sided wall bracing, due to which no formwork is required. In addition, this process facilitates architectural creativity, which is otherwise price prohibitive or infeasible.
Shotcrete process requires skilled labor or nozzle man for the concrete spraying process to obtain the maximum efficiency as the water to cement ratio must be maintained accurately. The presence of excess water can compromise the quality of concrete that leads to reduced strength and durability which is expected to hamper shotcrete market growth.
It is widely used method for construction of free form surfaces that are difficult to construct using conventional cast-in-place concrete technique. The construction of thin overhead vertical or horizontal surface such as canal, reservoir, tunnel lining, or folded sections drive the growth of shotcrete market. In addition, it is used on stabilization of rock slopes, construction of pre-stressed tanks, water retaining structures, and swimming pools. It plays a vital role in offering protection against long-term corrosion of piling, steel building frames, oil tanks, coal bunker, as well as for encasing structural steel for fireproofing. In addition, it is used in high temperature applications, including refractory lining of chimneys, furnaces, and kilns. The presence of above mentioned applications are expected to provide lucrative growth opportunities for the market in the forecast period.
The global shotcrete market is segmented on the basis of technique, system, application, equipment, and region.
Depending on the technique, the market is segmented into wet mix and dry mix. According to system, it is categorized into manual and robotic spraying. As per the application, it is segregated into underground construction, inground swimming pool, water retaining structures, protective coatings, and repair works. On the basis of equipment, it is classified into general equipment, 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 a protective coating and presence of huge infrastructural activities in region continue to bolster the shotcrete market size, due to presence of investment in e construction activities and repair works.
The key players profiled in the shotcrete market report include BASF SE, Heidelberg Cement, Grupo ACS, Lafargeholcim, Cemex, Sika AG, GCP Applied Technologies, 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 findings of the Study
- Region wise, Europe accounted for the largest market share in 2020.
- By technique, wet mix segment held the largest market share in 2020.
- As per the system, robotic spraying segment held the largest market share in 2020.
- According to application, underground construction segment held the largest market share in 2020.
- Depending on equipment, general equipment segment held the largest market share in 2020.
IMPACT OF COVID-19 ON THE GLOBAL SHOTCRETE MARKET
- Emergence of COVID-19 minimally impacted the growth of the global shotcrete market during this period.
- This impact is mostly attributed to the significant disruptions in raw material transportation and unavailability of labor, which, in turn, ceased many manufacturing industries, declining demand for shotcrete during this period.
- The decrease in demand for many non-essential products and ceased construction created a negative impact on the growth of global shotcrete market.
Companies Mentioned
- 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
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 336 |
| Published | March 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 5.6 billion |
| Forecasted Market Value ( USD | $ 10.8 billion |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
