This research report titled ‘Global Concrete Repair Mortars (CRM) Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
Large-scale urbanization in the developing economies of Asia, Africa, and Central and South America has resulted in a rise in the demand for urban residential developments, high-quality public infrastructure, and commercial spaces such as shopping malls. On the other hand, developed construction markets such as the UK, the US, Germany, and Canada are focusing on enhancing the quality of existing infrastructure.
“The increasing spending on building and transport infrastructure drives the demand for CRM. Rising demand for alternative cementitious materials in the cement manufacturing process and preference for repairing the existing infrastructure over constructing a new building are some of the features promoting the global CRM market,” says Hitesh Bhatia, a lead analyst at Technavio for glass and ceramics research.
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The market research analysis categorizes the global CRM market into three major end-user segments. They are:
- Building and car park
- Road and infrastructure
- Utility industries
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Global CRM market for building and car park
The building and car park end-user segment has the largest share of the global market. This is due to the increase in building and construction projects around the globe. These projects include the construction of parking areas, which involve the use of polymer cementitious mortars as repairing agents. This segment is expected to grow due to high volume requirement of CRM, especially polymer cementitious mortars, in the repair and refurbishment of residential and non-residential buildings across the world.
Global CRM market for road and infrastructure
The road and infrastructure segment is the fastest growing end-user segment for the global CRM market. The segment consists of horizontal or vertical repairs, bridges, marine structures, tunnels, facades, and buildings. The growth of this segment is based on the increasing expenditure on repair and maintenance of transport infrastructure across APAC and the Middle East. Lebanon is expected to receive USD 200 million from The World Bank Group to develop its urban-rural connectivity through building roads for the safety of the public. In the US, it is expected that more than USD 45 million will be spent on repairing roads across all states, which will boost the use of CRM in the country.
“The global CRM market is expected to witness growth owing to high government investments in the manufacturing sector and infrastructure development to cater to the demands of rapid urbanization. Developing nations are thus, expected to observe high growth in terms of consumption of CRM during the forecast period,” says Hitesh.
Global CRM market for utility industries
This end-user segment consists of all utilities including electricity, gas, and water. CRM is generally used to repair buildings, dams, reservoirs, and power station roofs to prevent water leakage. It serves companies in the utility industry such as electric, gas and water firms, and integrated providers. The market for CRM for utility industries is expected to grow because of the increase in demand for polymer cementitious mortars and epoxy-based mortars. These are used to repair damaged parts in structures because of their lightweight and easy-to-use properties.
The top vendors highlighted by Technavio’s market research analysts in this report are:
- Pidilite Industries
- THE EUCLID CHEMICAL COMPANY
- Saint-Gobain Weber
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