In 2019, the global underwater concrete market value is registered as USD 175.67 billion and is expected to grow at a significant CAGR of 9% along with the underwater concrete market size of USD 308.67 billion during the forecast period 2021-2028.
Generally, Concrete is the essential material used in construction worldwide. Underwater concrete is used for the construction of complex structures that is partly or fully immersed in water like bridges, dams, swimming pools, or the part structure or the whole structure lies underwater. This is the concrete used for the prevention of concrete segregation under the water. Different types of admixtures are used in the underwater concrete that helps in reducing shrinkages, strengthening the durability, and preventing concrete erosion when used underwater.
In recent years, the improved manufacturing methods and employment of equipment tremendous technological progress have been developed. The latest improvements are aimed with regards to the mix proportions design, the quality of concrete admixtures, and the methods of implementation. Tremie method, pump method, and hydro valve method are the different implementation methods. This is not a new process, it is used for construction purposes for a long time. The National Bureau of Statistics of China report states that the output value of construction works in the country is increased to CNY 23.27 trillion in the year 2020 than in 2019 valued as CNY 21.87 trillion.
The COVID-19 pandemic has spread rapidly from one place to other and affects businesses all over the world. To curb the spread of the virus, the government imposed various restrictions like lockdowns, maintaining social distance, and others. To follow these rules, the industry players allow their employees to work remotely. The adoption of automated technologies in manufacturing facilities is predicted to propel the underwater concrete market growth globally. To maintain the social distance, the emerging and developed economies are implemented partial or full lockdowns, most of the retail outlets and e-commerce services were shut down.
During the lockdown, the manufacturing of construction-related products and provision of related services are restricted. The production of raw material related to the underwater concrete was affected which leads to the demand and supply gap. The supply chains are also affected by the pandemic that limits market growth. These factors are severely impacting the global economy and revenue generation of the construction industry and further underwater concrete industry. Due to the high usage of underwater concrete in the construction of residential and commercial buildings, real estate investment also plays an essential role in generating demand for construction-related products.
The prominent key players in the underwater concrete market outlook are the following:
The emerging need for the repair and maintenance of the existing underwater structures is the major driving factor of the underground concrete market. The rise in the construction of dams and tunnels in developing nations and the latest constructions like swimming pools in developed nations is accelerating the underwater concrete market growth. Growing demand for marine installations like underground shafts and port & harbor installations is propelling the demand for the market.
Demand for high-strength raw materials like admixtures, sealants, cement, and adhesives in the construction industry along with the huge presence of concrete contractors and manufacturers in developing nations like India and China are expected to escalate the expansion of the market in the assessment period.
Due to the improper concrete mix design and improper placement of underwater concrete may occur few issues which are restraining the market growth.
The fastest growth in the construction industry creates an opportunity to propel the growth of the market. Increasing disposable income and rising demand for marine installations like port & harbor installations and underground shafts is the major opportunity to escalate the growth of the market.
The concrete may break, be piled up, or flattened due to poor installation and environmental factors are the major challenge of the market growth.
The global underwater concrete market has been divided into three segments based on the raw material, application, and region.
The underwater concrete raw materials are classified into a few types as cement, admixtures, aggregates, and others. Among them, aggregates raw materials hold a significant market share due to the superior building properties of the aggregates. Moreover, the growing usage of recycled aggregates coupled with natural aggregates is accelerating the expansion of the market in the review period. Apart, the cement raw material holds a considerable share in the market for its improved properties like the hassle-free placement of cement by the anti-washout technology.
The underwater concrete applications are categorized into various types such as marine, hydro projects, tunnels, underwater repairs, swimming pools, and others. The hydro projects segment is dominating the largest share as the construction of hydropower generations plants is raised. Due to the growing efforts by the national governments for the development and adoption of renewable and clean hydro energy, the demand for concrete in hydro projects is boosted. Moreover, concrete in the construction, repair, and maintenance of marine structures is also highly demanded.
Region-wise, the global underwater concrete market is divided into four main geographies like Asia-Pacific, North America, Europe, and the Rest of the world. Among them, North America is dominating the significant market share due to the rising usage of underwater concrete in the construction of hydropower plants in developed countries like Germany, the U.S, Denmark, and more.
Geographically, the underwater concrete market is segmented into four major regions such as Asia-Pacific, North America, Europe, and the Rest of the World. Out of these regions, North America is holding the highest underwater concrete market share due to the improved quality of underwater marine construction along with bridge piers in rivers and harbor installations. Apart, increasing the usage of underwater concrete in the construction of hydropower plants in developed countries like Germany, Denmark, the U.S, and the sub-regions of the U.K.
Asia-Pacific is predicted to expand rapidly owing to the rapid industrialization and development in emerging economies like India and China. The undertaking of underground metro projects is expected to drive market growth in this region in the forecast period. Owing to the booming construction industry, the underground concrete market in Latin America and the Middle East & Africa is expanding.
This global underwater concrete market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the underwater concrete market drivers, restraints, challenges, and opportunities. The underwater concrete market forecast segments into three forms the raw material, application, and region.
The underwater concrete market trends have been segmented into three forms globally based on the raw material, application, and region.
Cement, admixtures, aggregates, and others are a few raw materials of the market.
Marine, hydro projects, tunnels, underwater repairs, swimming pools, and others are various applications of the market.
Asia-Pacific, Europe, North America, and the rest of the world are the four main geographies included in the global market.
|Market Size||2030: Significant Value|
|CAGR||9% CAGR (2022-2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|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||Sika AG (Switzerland), Cemex S.A.B. De C.V. (Mexico), Rockbond SCP Ltd (UK), Conmix Ltd. (United Arab emirates), HeidelbergCement Group (Germany), M-Con Products Inc. (U.S.), Underground Supply, Inc. (U.S.), Wieser Concrete Products Inc. (U.S.)|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Underwater concrete market projected to grow at a 9% CAGR between 2022-2030.
North America is expected to lead the underwater concrete market.
Rising construction of tunnels and dams and demand for marine installation are adding to the underwater concrete market growth.
Underwater concrete is extensively used in hydropower, tunnels, underwater repairs, and marine.
Key competitors in the underwater concrete market include Wieser Concrete Products Inc. (U.S.), Underground Supply, Inc. (U.S.), M-Con Products Inc. (U.S.), HeidelbergCement Group (Germany), Conmix Ltd. (United Arab Emirates), Rockbond SCP Ltd (UK), Rockbond SCP Ltd (UK), Cemex S.A.B. De C.V. (Mexico), and Sika AG (Switzerland).