Shotcrete Market Analysis, Size, Share, Growth, Report 2023-2028

According to IMARC Group latest report titled "Shotcrete Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on Shotcrete Market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global shotcrete market size reached US$ 8.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.3 Billion by 2028, exhibiting a growth rate (CAGR) of 7.9% during 2023-2028.

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Shotcrete is a versatile construction method that involves spraying concrete onto surfaces with high velocity, creating a dense and durable layer of concrete. This process is widely used in construction and infrastructure projects, offering several benefits. It can be applied to vertical, overhead, or curved surfaces, making it suitable for tasks such as tunneling, slope stabilization, and building construction. The high-velocity application ensures that the concrete adheres tightly to the substrate, resulting in a strong and long-lasting structure. Shotcrete is also known for its rapid construction capabilities. It significantly reduces construction time compared to traditional concrete pouring methods. This time efficiency is especially beneficial for projects with tight schedules or where access is limited.

Market Trends:

The increasing demand for efficient and cost-effective construction methods is driving the global market. Shotcrete is a versatile and rapid construction technique that allows for the quick and precise application of concrete in various construction projects, including tunnels, bridges, and underground structures. Moreover, the expansion of infrastructure projects worldwide is contributing substantially to market growth. Governments and private sector investments in the development of transportation networks, such as highways and railways, as well as the construction of underground utilities and mining activities, have boosted the demand for shotcrete applications. Additionally, the growth of the mining and tunnelling industries is a key driver. Shotcrete is essential for stabilizing tunnel walls and supporting underground excavations.

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Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players operating in the market.

• BASF SE
• CEMEX S.A.B. de C.V.
• GCP Applied Technologies Inc
• HeidelbergCement AG
• Holcim
• LKAB Berg & Betong AB
• Sika AG
• The Euclid Chemical Company (RPM International Inc)
• The QUIKRETE Companies
• U.S. Concrete

Key Market Segmentation:

Our report has categorized the market based on region, technique, application and system.

Breakup by Technique:

• Wet Mix
• Dry Mix

Breakup by Application:

• Underground Construction
• Water Retaining Structures
• Protective Coatings
• Repair Works

Breakup by System:

• Manual System
• Robotic Spraying System

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, South Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.