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Shotcrete Market in the U.S. growing at a CAGR 6.7% till 2023

Shotcrete Industry

Shotcrete Industry

Shotcrete Market is expected to grow at a CAGR of 8.9% in terms of value during the forecast period.

PORTLAND, UNITED STATES, USA, October 4, 2021 /EINPresswire.com/ — Shotcrete Market growth is driven by increased number of underground construction projects such as New York City Water Tunnel of 96.5 km in New York, U.S., Paris metro line 15 of 75 km in France, Brenner Base Tunnel of 55 km in Austria-Italy, Mass Rapid Transit: Thomson-East coast metro line of 42 km in Singapore. Shotcrete is mainly used to strengthen the substrate by using Sprayed concrete linings (SCL) as a temporary or permanent lining considering time and cost required.

A new report published by Allied Market Research, titled, “Shotcrete Market by Technique, System, and By Application – Global Opportunity Analysis and I.ndustry Forecast, 2014 – 2022” projects that the global shotcrete market was valued at $4,441 million in 2015, and is expected to reach $7,819 million by 2022 growing at a CAGR of 8.6% during the forecast period. Underground Construction segment was the largest contributor for global shotcrete market in 2015. Europe held the leading position in 2015, while Asia-Pacific is expected to be the highest growing market throughout the study period.

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According to Eswara Prasad, Team Lead Chemicals & Materials at Allied Market Research, “The rapid development of shotcrete technology & raw materials are expected to offer major opportunities to the world shotcrete market.”

Shotcrete is a concrete spraying technique which is mainly used to reduce or eliminate the disadvantages of conventional concrete. Depending upon the method of spraying, it is classified into two types, namely, manual spraying system and robotic spraying system. The use of robotic spraying system is expected to grow as the rules and regulations regarding safety and health of the personnel are getting increasingly stringent.

The demand from wet-mix shotcrete process over conventional concrete is expected to register the highest growth rate owing to the its versatility and time reduction. Further research in enhancing the properties of shotcrete raw materials is expected to continue the growth of wet mix shotcrete process making it a widely-used technique in the shotcrete market.

Manufacturers have focused on the growing construction industry of emerging economies such as India, Brazil, Argentina, and Saudi Arabia to increase their market share.

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Key findings of the study

1. Shotcrete in underground construction application segment occupied the highest share in 2015, and is expected to grow at a CAGR of 8.9% in terms of value during the forecast period
2. Europe is the leading consumer of shotcrete accounting for more than one-third share of the world shotcrete market, followed by Asia-Pacific
The robotic system of shotcrete is expected to expand with the highest CAGR of 8.8% in terms of value during the forecast period
3.Wet-mix technique of shotcrete segment accounted for approximately three-fourth of the global shotcrete market in 2015
4.U.S. is the leading market for shotcrete in the North American region, growing at a CAGR 6.7% in terms of value during the forecast period

Europe accounted for the largest share in the global shotcrete market in 2015, while Asia-Pacific is projected to be the highest growing market for shotcrete during the forecast period. This is attributable to increase in underground construction application segment owing to the expansion of major shotcrete manufactures such as BASF SE and Sika AG in the region.

By Application

1. Underground Construction
2. Water Retaining Structures
3. Protective Coatings
4. Repair Works

BASF SE installed a new construction chemical plant in Andhra Pradesh, India to meet the demand of the region and expand their market reach. Sika AG has opened a new production plant in Australia to fulfill the demand for concrete admixtures and supply product technologies to Government-funded Forrest field-Airport Link to build a new rail line, pair of tunnels, suburbs. The prominent players profiled in this report include BASF SE, Heidelberg Cement, Grupo ACS, Lafargeholcim, Cemex, Sika AG, GCP Applied Technologies, U.S. Concrete, Mapei, and Normet.

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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