What is Shotcrete ? Global Shotcrete Market Growth 2018 to 2025 | Get Complete Facts about market Giants like: BASF SE, Heidelberg Cement, Grupo ACS, Lafargeholcim, Cemex, Among others

Shotcrete is a technique used to pneumatically spray concrete through a hose at high velocity onto the surface. Factors such as growing underground construction activities such as tunneling and mining activities and rampant growth in infrastructure development are factors expected to boost growth of the shotcrete market during the forecast period (2017–2025). Robotic system segment is expected to dominate the shotcrete market over the forecast period and is expected to expand at a CAGR of 9.3% in terms of volume. 

Europe accounted for the largest share in the global shotcrete market in 2016, according to the stats provided by Coherent Market Insights. Increasing underground construction activities in Europe creates a highly conducive environment for growth of the global shotcrete market. For instance, in Europe the construction of metro rail project which will link from east-north and west-south, currently Attiko Metro company prepares to construct four new line, the project worth over US$ 3.61 billion and is expected to fuel the market for shotcrete during 2017-2025.

The National Highways and Infrastructure Development Corp. (NHIDCL)—a government undertaking company—plans to construct five mega tunnels in Jammu and Kashmir by 2024, at an estimated cost of US$ 3.58 billion. Moreover, according to India Brand Equity Foundation (IBEF)—a trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India—in April 23, 2017, a metro rail projects with a total route length of 903 kms in 13 cities are under consideration.

The global shotcrete market size was valued at US$ 5,612.73 million and 19,140.94 TCM in 2016 and is expected. The market is expected to expand at a CAGR of 8.1% in terms of revenue and 8.3% in terms of volume during 2017 – 2025.

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Process Insights:

Among process, wet-mix process segment accounts for the largest share in the shotcrete market. During the process, cement mixture is mixed with water initially. Then, this mixture is sprayed through a nozzle, where air and shotcrete accelerators are added. The wet-mix process segment is projected to expand at a CAGR of 9.8% over the forecast period, owing to its wide application in underground constructions, water retaining structures, and protective coatings. Moreover, due to its high efficiency and efficient timing, it is largely used in robotic equipment. 

Growing underground constructions activities, to boost the market growth

Europe, followed by Asia Pacific and North America, respectively, accounted for major share in the global shotcrete market both in terms of revenue and volume in 2016 and the trend is expected to remain the same over the forecast period. In 2016, Europe held a share of 36.75% in terms of volume, followed by Asia Pacific (25.85%). The growing infrastructure development activities in Asia Pacific to support burgeoning population creates a highly conducive environment for growth of the market. The recent past has witnessed a spurt in tunneling activities, rapid urbanization and growing deployment of metro rail projects, especially in Asia Pacific. 

Multinational players need to tap potential addressable market in the emerging regions with the help of geographical expansion
Major players in the global Shotcrete market include BASF SE, Heidelberg Cement, Grupo ACS, Lafargeholcim, Cemex, Sika AG, GCP Applied Technologies, U.S. Concrete, Mapei, and Normet. Among others.

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This release was published on openPR.