Press release
Shotcrete Market Growth Will Be Extreme in the Next Years 2024 - 2031 | BASF SE, Heidelberg Cement, Grupo ACS
Shotcrete Market
The Shotcrete Market size is valued at US$ 7.32 Bn in 2024 and is expected to reach US$ 11.68 Bn by 2031, growing at a compound annual growth rate (CAGR) of 6.9% from 2024 to 2031.Market Dynamics:
Rising spending on infrastructure development globally is expected to drive the shotcrete market during the forecast period. The construction industry is witnessing strong growth in developing economies owing to rapid urbanization and industrialization. According to the World Bank, global infrastructure spending is estimated to grow 85% by 2040 to meet the infrastructure needs of the growing population. Furthermore, shotcrete finds widespread usage in repairing and retrofitting activities of existing structures as it provides a cost effective solution. It is able to cover irregular surfaces and hard to reach areas more effectively compared to conventional concrete construction techniques.
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Shotcrete Market Drivers: Demand from Mining Industry Is Driving the Shotcrete Market Growth
The mining industry has been adopting shotcrete technology extensively for ground support applications such as tunneling, slope stabilization, and mining excavations. Shotcrete provides excellent support to underground excavations and mining voids. It adheres strongly to rock surfaces and fills irregular spaces, thereby reinforcing unstable grounds. Furthermore, shotcrete sets and gains strength rapidly. This assists mining operations in maintaining their production schedules. The growing mining industry globally due to the rising demand for metals and minerals is expected to propel the shotcrete market during the forecast period.
Shotcrete Market Opportunity: Potential in Developing Countries
Developing economies in Asia Pacific, Latin America, Africa, and the Middle East hold considerable potential for shotcrete market growth. These regions are witnessing massive infrastructure growth along with expanding mining activities. However, shotcrete penetration is relatively low presently compared to developed markets of North America and Europe. This presents a sizable opportunity for manufacturers and applicators to tap into the rising construction and mining industries across developing countries. Furthermore, better awareness regarding shotcrete advantages can help boost its adoption. Considerable investments by governments towards developing transportation, urban, hydro, and mining projects are paving the way for shotcrete applications. This opportunity can help offset any slowdown in developed markets.
Shotcrete Market Trends: Automation and Robotics Advancing Shotcrete Operations
The shotcrete industry is witnessing technological advancements with the integration of automation and robotics. Equipment manufacturers are focusing on developing robotically applied shotcrete systems for higher productivity and quality. Robotic shotcrete machines can spray concrete over large complex areas continuously with consistent thickness and finish. They eliminate the issues of overspray and rebound experienced with manual application. Furthermore, robotics improves worksite safety by reducing human exposure to hazards. Automated technologies also help address the shortage of skilled shotcrete laborers. The trend of automating shotcreting through robots is expected to gather more momentum going ahead to maximize efficiency and minimize project time and costs. This will subsequently propel the overall shotcrete industry.
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Top Companies Featured in This Report:
★ BASF SE
★ Heidelberg Cement
★ Grupo ACS
★ Lafargeholcim
★ Cemex
★ Sika AG
★ GCP Applied Technologies
★ U.S. Concrete
★ Mapei
★ Normet
Market Segmentation:
By Product Type:
★ By Process: Wet- Mix and Dry- Mix
★ By System: Robotic and Manual
By Applications:
★ By Application: Underground Construction, Water Retaining Structures, Repair Works, and Protective Coatings
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Insights from the Global Shotcrete Market Analysis:
Market Size Evaluation: Assessing the value and sales volume of the Shotcrete market spanning from 2024 to 2031.
Market Trends and Dynamics: Analyzing the drivers, opportunities, challenges, and risks influencing the Shotcrete market.
Macro-economic and Regional Impacts: Exploring how global inflation and geopolitical events affect the Shotcrete market.
Segment Analysis: Examining the market value and sales volume of Shotcrete by type and application from 2024 to 2031.
Regional Market Overview: Assessing the current situations and future prospects of the Shotcrete market in different regions.
Country-level Studies: Providing insights into revenue and sales volume for major countries within each region.
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Shotcrete sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.
(LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)
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