Press release
Shotcrete Market Recent Study Including Growth Factors And Forecast 2030
Shotcrete Market
The global shotcrete market is poised for significant expansion, fueled by increasing infrastructure projects, advancements in construction techniques, and growing demand for sustainable building solutions. The Shotcrete Market size was valued at USD 6.98 Billion in 2023 and the total Shotcrete revenue is expected to grow at a CAGR of 6.86% from 2024 to 2030, reaching nearly USD 11.10 Billion.
Competitive Landscape
The shotcrete market features a competitive landscape with key players focusing on innovation and strategic partnerships. Prominent companies include BASF SE, CEMEX S.A.B. de C.V., GCP Applied Technologies Inc., and HeidelbergCement AG . These industry leaders are investing in research and development to enhance product quality and expand their global footprint.
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• Higher Demand in Asia-Pacific Region
The Asia-Pacific region is witnessing the fastest growth in the shotcrete market, driven by rapid urbanization, infrastructure development, and mining activities. Countries like China, Japan, and South Korea are at the forefront, with significant investments in construction projects and technological advancements in shotcrete applications .
Country-Specific Insights
Growth Opportunities in Vietnam
Vietnam's burgeoning construction sector, supported by government initiatives and foreign investments, is creating favorable conditions for the shotcrete market. The development of transportation infrastructure and urban projects is expected to boost the demand for efficient construction materials like shotcrete.
Trends in Thailand
Thailand is experiencing increased adoption of shotcrete in underground construction and tunneling projects. The country's focus on expanding its transportation network and improving infrastructure resilience is driving the growth of the shotcrete market.
Consolidation in Japan
Japan's shotcrete market is characterized by consolidation, with companies engaging in mergers and acquisitions to strengthen their market position. The emphasis on advanced construction technologies and sustainable practices is influencing the adoption of shotcrete solutions.
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Updation in South Korea
South Korea is updating its construction methodologies by incorporating shotcrete in various applications, including slope stabilization and tunnel linings. The government's support for infrastructure modernization is facilitating the growth of the shotcrete market.
Opportunities in Singapore
Singapore's commitment to sustainable urban development is opening opportunities for shotcrete applications in green building projects. The city's focus on efficient construction techniques is expected to drive the demand for shotcrete solutions.
Growth in the United States
The United States remains a significant player in the shotcrete market, with ongoing investments in infrastructure rehabilitation and new construction projects. The adoption of shotcrete in repair works and underground construction is contributing to market growth.
Trends in China
China's rapid urbanization and large-scale infrastructure projects are propelling the demand for shotcrete. The country's focus on efficient and durable construction methods is leading to increased utilization of shotcrete in various applications.
Consolidation in Europe
Europe's shotcrete market is witnessing consolidation, with companies merging to enhance their technological capabilities and expand their service offerings. The region's emphasis on sustainable construction practices is influencing the adoption of shotcrete solutions.
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◆ Shotcrete Market Segmentation
by Process
Dry Mix
Wet Mix
by System
Manual System
Robotic System
by Equipment
General Equipment
Auxiliary Equipment
Special Equipment
by Application
Underground construction
Inground swimming pool Water retaining structure
Protective coating
Repair works
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◆ Shotcrete Market Key Players
1. BASF SE
2. HeidelbergCement AG
3. Grupo ACS
4. Lafargeholcim Ltd.
5. Cemex S.A.B. De C.V.
6. Sika AG
7. GCP Applied Technologies
8. Vulcan Materials Company
9. Mapei S.p.A.
10. Normet
11. De C.V.,
12. U.S. Concrete Inc.
13. Quikrete Companies, Inc.
14. KPM Industries Ltd.
15. The Euclid Chemical Company
16. Lkab Berg & Betong AB
17. Cemex S.A.B. De C.V.
18. B M Walunj & Co.
19. Denka Company
20. Draco Italiana
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