Sprayed Concrete Market Research Report - Global Forecast to 2028

Sprayed Concrete Market: Information by Process (Wet Process, Dry Process), System (Robotic Spraying System, Manual System), Application (Underground Construction, Protective Coatings, Water-Retaining Structures, Retaining Walls, Strengthening & Repair, Specialty Construction) and Region -  Global Forecast to 2028

ID: MRFR/CO/1285-CR | March 2019 | Region: Global | 185 pages

Sprayed Concrete Market Overview


Shotcrete/Sprayed Concrete Market is projected to be worth USD 15.24 billion by 2028, registering a CAGR of 8.45% during the forecast period (2021 - 2028), The market was valued at USD 8.41 billion in 2020.


The global sprayed concrete market is expected to witness substantial growth during the forecast period. Europe is estimated to be a prominent region for sprayed concrete market due to the development of infrastructure and the construction of residential, commercial, and municipal buildings. Similarly, the growing construction industry and the various tunneling projects that are pipelined in North America and Asia-Pacific are projected to drive the sprayed concrete market during the forecast period. In 2017, North America held the second-largest market share in the sprayed concrete market. Commercial buildings such as commercial complexes and offices are increasing as business hubs are becoming overpopulated and creating a demand for new complexes. This is driving the sprayed concrete market in this region.


Segmentation


The global sprayed concrete market is segmented based on process, system, and application.  On the basis of process, the sprayed concrete market is divided into wet process and dry process. The wet process segment is dominating the market, owing to various advantages such as controlling on water content, easy spraying, and adding admixtures as per design requirement during the preparation of the mix.


On the basis of system, the sprayed concrete market is divided into robotic spraying system and manual system. The robotic spraying system is the dominating segment, owing to the growing demand for simplifying the tasks of the operator and the lack of trained spraying equipment operators.


On the basis of application, the global sprayed concrete market is segmented into underground construction, protective coatings, water-retaining structures, retaining walls, strengthening & repair, and specialty construction. The underground construction segment holds the maximum market share, owing to the increasing underground construction, across the globe.


Regional Analysis:


Region-specific analysis of the low-speed vehicle market spans across North America, Europe, Asia-Pacific (APAC), the Middle East & Africa, and South America.


Key Competitors:


The key players of global sprayed concrete market are BASF SE (Germany), HEIDELBERGCEMENT AG (Germany), CEMEX S.A.B. de C.V. (Mexico), LafargeHolcim (Switzerland), Sika AG (Switzerland), LKAB (Sweden), KPM Industries Ltd (Canada), The QUIKRETE Companies (US), GCP Applied Technologies Inc. (US), U.S. Concrete, Inc. (US).


Global Sprayed Concrete Market, by Region, 2017


Sprayed Concrete Market


Source: MRFR analysis


The construction sector is one of the most important sectors in the European economy. According to EUROPEAN BUILDERS CONFEDERATION, the construction industry in Europe contributes around 9% to the total GDP of the EU, owing to the presence of 3 million enterprises, which employs a total direct workforce of 18 million people. The residential construction segment had the highest contribution in the construction industry in 2016 and grew by 5% compared to 2015. The upgrade of infrastructure and the construction of residential, commercial, and municipal buildings drive the construction industry in Europe, which provides traction for the sprayed concrete market to grow steadily.


Germany has experienced an increase in immigration, which has resulted in a substantial population boost and an urgent need for affordable housing. The low-interest rates introduced by the European Central Bank have transformed the mortgage loan process, which increased the construction of residential buildings. In the UK, the value of the construction industry in both, public and private sectors, has increased. The growing construction industry can be attributed to the increasing construction of private housing buildings and commercial and industrial infrastructure and the rising of privately funded projects in the healthcare industry. The significant growth of the construction industry is expected to drive the sprayed concrete market.


Synopsis:


The global sprayed concrete market has been segmented on the basis of process, system, application, and region. On the basis of process, the market is divided into wet process and dry process. The wet process segment is expected to dominate the sprayed concrete market due to the advantages it offers, including controlling the water content, easy spraying, and adding admixtures as per the design requirement during the preparation of the mix.


In January 2019, BASF SE launched its Virtual Design and Construction (VDC) resource center, which offers Building Information Modeling (BIM) content and other digital services for its clients in the construction industry.


In March 2019, Sika AG acquired KPM Industries Ltd, an independent Canadian manufacturer of dry shotcrete and mortars for concrete repair. This acquisition enables it to expand its business footprint in Canada


Market Segmentation



  1. By Process – Dry Process and Wet Process

  2. By System – Robotic Spraying System and Manual System

  3. By Application – Underground Construction, Protective Coatings, Water-Retaining Structures, Retaining Walls, Strengthening & Repair, and Specialty Construction


Key Questions Addressed by the Report



  • What was the historic market size (2017)?

  • Which segmentation (Process/System/Application is driving market?

  • What will be the growth rate by 2023?

  • How are the key players in this market?

  • What are the strategies adopted by key players?



Report Scope:
Report Attribute/Metric Details
  Market Size   2028: USD 15.24 billion
  CAGR   8.45% CAGR (2021-2028)
  Base Year   2020
  Forecast Period   2021-2028
  Historical Data   2019
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   by Technology, by Application, by Material
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   BASF SE (Germany), HEIDELBERGCEMENT AG (Germany), CEMEX S.A.B. de C.V. (Mexico), LafargeHolcim (Switzerland), Sika AG (Switzerland), LKAB (Sweden), KPM Industries Ltd (Canada), The QUIKRETE Companies (US), GCP Applied Technologies Inc. (US), U.S. Concrete, Inc
  Key Market Opportunities   Growing construction industry
  Key Market Drivers

  • Development of infrastructure
  • Construction of residential, commercial, and municipal buildings


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    Frequently Asked Questions (FAQ) :


    The CAGR would be 8.45% for the sprayed concrete market during the forecast period of 2021 to 2028.

    The valuation would be for sprayed concrete market USD 15.24 billion by 2028.

    Sprayed concrete market would be led by robotic spraying.

    The wet process segment would dominate sprayed concrete market.

    The underground construction segment would lead sprayed concrete market.