Concrete Restoration Global Market Report 2024

The concrete restoration market size has grown strongly in recent years. It will grow from $16.13 billion in 2023 to $17.15 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The expansion observed in the historical period can be attributed to factors such as aging infrastructure, exposure to harsh environmental conditions, structural deterioration over time, the necessity to comply with safety standards, a rise in renovation projects, and increased public safety concerns prompting actions and investments.

The concrete restoration market size is expected to see strong growth in the next few years. It will grow to $22.13 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. Anticipated growth in the upcoming period is expected due to a heightened focus on environmental sustainability, concerns regarding the longevity of infrastructure, an increase in restoration efforts post-disasters, initiatives aimed at preserving cultural heritage, and significant investments in public infrastructure. Key trends projected for this period encompass the adoption of advanced repair materials, the implementation of sustainable restoration solutions, the integration of carbon fiber reinforcement, leveraging nanotechnology for concrete repair, the utilization of non-destructive testing (NDT) methods, and advancements in self-healing concrete technologies within the restoration and construction sectors.

The concrete restoration market is anticipated to experience robust growth due to a rising number of construction repair endeavors. Construction repair encompasses diverse tasks conducted by laborers and technicians employed by the sub-recipient, construction contractor, or subcontractor, aimed at specific buildings or projects. Restoration involves the process of reverting a structure to its original state. For instance, in May 2022, data from the UK's Office of National Statistics (ONS) highlighted a 5.5% year-on-year surge in construction repairs within the UK. Of the nine construction sectors monitored by the ONS, seven witnessed an uptick in work, while only infrastructure and public new work experienced declines. This trend signifies a global upswing in construction repair projects, consequently propelling the growth trajectory of the concrete restoration market.

The anticipated surge in infrastructure maintenance and repair needs is poised to drive the expansion of the concrete restoration market in the foreseeable future. Infrastructure maintenance and repairs encompass upkeep, construction, or restoration of various components such as roads, buildings, fences, and irrigation systems. Concrete restoration, a key facet of maintaining infrastructure, involves the repair and refurbishment of structures such as buildings, bridges, and roads. This process addresses issues such as cracked concrete, potholes, and damaged surfaces. Notably, in February 2023, as reported by the UK Department for Business, Energy, and Industrial Strategy, the quarterly construction production in the UK witnessed a 0.3% uptick in quarter 4 of 2022 in comparison to the preceding quarter, with growth evident in both new projects (0.4%) and repair and maintenance activities (0.1%). Consequently, the rising demand for infrastructure upkeep and repairs is anticipated to be a significant driver propelling the growth trajectory of the concrete restoration market.

In the concrete restoration market, a prominent trend is the emphasis on product innovation, with major companies actively engaged in developing novel solutions to bolster their market standing. Cementos Argos S.A., a Colombian firm operating in this sector, exemplifies this trend. In July 2022, the company unveiled their pioneering product, Super UHPC (ultra-high-performance concrete), designed specifically for the rehabilitation of deteriorated bridges and roads as well as the construction of new infrastructure. This innovative solution comprises meticulously selected fibers and cementitious components, offering exceptional mechanical strength and long-lasting qualities crucial for repairing and revitalizing existing structures. Notably, its distinctive feature lies in its packaging - it is marketed in kits containing dry mix bags, additives, and fibers. Users can easily combine these components using a straightforward process to create a substance with exceptional properties, marking a significant leap in the realm of concrete restoration technology.

Leading companies within the concrete restoration market are actively pursuing strategic alliances as a means to fortify their market positions. These alliances, characterized by collaborative relationships between multiple entities, typically businesses, are aimed at achieving mutual success. An illustrative example occurred in August 2023, involving Bio Graphene Solutions (BGS), a Canadian firm known for its groundbreaking graphene production process. BGS announced a strategic partnership with Brook Restoration, the largest structural restoration company based in Canada. This strategic collaboration empowers Brook Restoration to harness BGS's graphene-enhanced liquid admixture tailored for concrete products in various building and public infrastructure projects. Additionally, Brook Restoration has committed to a strategic investment in BGS's ongoing financing endeavors, underscoring their dedication to fostering innovation and sustainability within the construction domain.

In May 2021, New Mountain Capital, a prominent investment company headquartered in the US, completed the acquisition of Aegion Corporation, although the specific financial details remained undisclosed. This acquisition marked the incorporation of a construction repair firm into New Mountain's expansive portfolio of investments, promising to significantly enhance the financial standing of Aegion Corporation. Aegion Corporation, a US-based entity, operates within the realm of concrete restoration, aligning seamlessly with New Mountain's strategic expansion objectives in this sector.

Major companies operating in the concrete restoration market report are BASF SE, Saint-Gobain Weber S.A., Toray Industries Inc., Solvay S.A., Sika AG, Teijin Limited, RPM International Inc., Mitsubishi Chemical Holdings Corporation, Mapei S.p.A, Sto SE & Co. KGaA, Hexcel Corporation, Pidilite Industries Limited, SGL Carbon SE, Fosroc Group, Gurit Holding AG., Normet Group Oy, Structural Group Inc., Flexcrete Technologies Ltd., The Euclid Chemical Company, Simon Surfaces, U-C Coatings LLC, Western Construction Group Inc., MBCC Group, Axiom Materials Inc., CROM Corp, MB Solutions Australia Pty Ltd., Concrete Restoration Inc., Edison Coatings Inc., Fyfe Co LLC, American Decorative Coatings LLC.

Asia-Pacific was the largest region in the concrete restoration market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the concrete restoration market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the concrete restoration market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Concrete restoration involves several key types such as shotcrete, quick setting cement mortar, fiber concrete, and other materials such as concrete bonding agents and grout. Shotcrete is a technique that involves applying concrete at high velocity, particularly on vertical or overhead surfaces. Applications for these restoration methods span roads, highways, bridges, dams, marine structures, buildings, balconies, water and wastewater treatment facilities, among others. These restoration techniques cater to end-users in residential, commercial and institutional sectors, as well as infrastructure projects.

The concrete restoration market research report is one of a series of new reports that provides concrete restoration market statistics, including concrete restoration industry global market size, regional shares, competitors with a concrete restoration market share, detailed concrete restoration market segments, market trends and opportunities, and any further data you may need to thrive in the concrete restoration industry. This concrete restoration market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The concrete restoration market includes revenues earned by entities by providing services such as restoring expansion joints, epoxy injections, polyurethane grout injections to correct cracks, gaps and natural degradation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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