Press release
Concrete Repair Mortars Market Growth Drivers, Opportunities, Share Report And Forecast To 2033
Concrete Repair Mortars Market Analysis
The Business Research Company offers in-depth market insights through Concrete Repair Mortars Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The concrete repair mortars market size has grown strongly in recent years. It will grow from $2.95 billion in 2023 to $3.14 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to aging infrastructure and the need for repair and maintenance, increased construction activities, growing awareness of the importance of durable and sustainable construction, stringent building codes and regulations driving the use of repair mortars, advances in material science leading to improved mortar formulations.
The concrete repair mortars market size is expected to see strong growth in the next few years. It will grow to $4.07 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to increasing focus on green and eco-friendly construction materials, increasing population and urbanization, rise in government investments in infrastructure development projects, growing demand for rapid and cost-effective repair solutions, growing demand for non-structural applications. Major trends in the forecast period include development of high-performance repair mortars, integration of smart technologies for real-time monitoring, use of sustainable and recycled materials in concrete repair mortars, emphasis on aesthetics in concrete repair, with color-matching and texture replication, shift towards fast-setting and rapid-hardening repair mortars for quick repairs.
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Market Segmentation:
The concrete repair mortars market covered in this report is segmented -
1) By Type: Cementitious Concrete Repair Mortars, Epoxy Concrete Repair Mortars, Epoxy Resin-Based Concrete
2) By Grade: Structural, Non Structural
3) By Application: Hand Applied Concrete Repair Mortars, Machine Applied/Sprayed Concrete Repair Mortars, Poured/Flow Applied Concrete Repair Mortars, Levelling/Fairing Mortars for Concrete Repairs, Protective Surface Coatings for Concrete
4) By End-Use: Utility, Roads and Infrastructure, Buildings, Other End-Users
Major Driver - Increasing Need For Building And Infrastructure Repair Drives Growth In The Concrete Repair Mortars Market
The rising demand for repair and maintenance of existing buildings is contributing to the growth of the concrete repair mortar market. Due to the degradation of materials and structures caused by the combined effects of loads and external conditions, there is an increasing demand for building infrastructure repair and maintenance. Repairing and upgrading a structure is preferable to destroying and rebuilding it, as it is cost-effective and economical. There will be a significant utilization of concrete repair mortars in response to the rising demand for the repair and maintenance of existing buildings, as they are an essential part of the repair and maintenance of concrete structures. For instance, according to the Construction Output Price Index (OPIs) dataset by the UK Office for National Statistics, in the UK, the increase in monthly construction output in March 2022 was led by increases in both repair and maintenance (3.0%) and new work (1.0%). The largest contributors to the monthly rise at the sector level were private home repair and maintenance (5.8%) and private commercial new work (4.0%). Therefore, the rising demand for repair and maintenance of existing buildings is expected to boost demand for the concrete repair mortar market during the forecast period.
Competitive Landscape:
Major companies operating in the concrete repair mortars market report are Adhesives Technology Corporation, The Euclid Chemical Company, Remmers Limited, Pidilite Industries Ltd., Fosroc Inc., Sika AG, BASF SE, MAPEI S. p. A, Saint-Gobain India Pvt. Ltd., Fosroc International Ltd., W. R. Meadows Inc., Ardex GmbH, Garon Products Inc., MC-Bauchemie Müller GmbH, Flexcrete Technologies Ltd., Resin Building Products Ltd., Diasen SRL, Litokol SpA, Maker Coating Systems Ltd., Euclid Chemical Co., Dayton Superior Corp., Simpson Manufacturing Co. Inc., Five Star Products Pvt. Ltd., CTS Cement Manufacturing Corp., Twin City Concrete Products Company, Standard Performance Evaluation Corporation, ChemCo Systems, Copps Industries Inc., Sauereisen Inc., Edison Coatings Inc., Coprox International Private Ltd.
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Top Trend - Sustainable Concrete Repair Mortars Lead Market Trends
Product innovation is a key trend gaining popularity in the concrete repair mortar market. Key players are focusing on launching innovative concrete repair mortars that are water-based, environmentally friendly, and utilize low-hazard formulations with zero usage of VOCs (volatile organic compounds). These solutions are focused on enabling high-build and high-strength structures as well as reducing carbon footprints. Innovative concrete repair mortars offer structural strength, reinstatement of structural integrity, long-term protection, and extension. These products provide key players with a competitive edge and enhance their market position. For instance, in July 2021, Sika UK, a UK subsidiary of Sika Group, launched a low-carbon concrete repair mortar that is manufactured utilizing low-carbon and recycled materials and provides long-term effective performance on various high-strength applications. These future sustainable concrete repair mortars are designed to produce fewer particle emissions and provide improved repair performance.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Concrete Repair Mortars Market Characteristics
3. Concrete Repair Mortars Market Trends And Strategies
4. Concrete Repair Mortars Market - Macro Economic Scenario
5. Concrete Repair Mortars Market Size And Growth
…..
27. Concrete Repair Mortars Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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