LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global shotcrete-sprayed concrete market is projected to grow at a CAGR of more than 8% over the forecast period.
This research report titled ‘Global Shotcrete-sprayed Concrete Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
|Shotcrete-sprayed concrete is a specialty concrete that is projected at a high velocity on the construction surface through a sealed and pressure-resistant hose. APAC is witnessing swift growth in the market, due to the increasing demand for shotcrete-sprayed concrete from developing countries such as India, Malaysia, and China.|
The growing underground road and tunnel construction activities in APAC to streamline the traffic flow in densely populated regions is anticipated to fuel the adoption of shotcrete-sprayed concrete in the region. Furthermore, shotcrete-sprayed concrete manufacturers are setting up R&D centers in the region for developing innovative technology and advanced equipment for concrete application. This, in turn, will bring in new products in the market and is likely drive the demand for shotcrete-sprayed concrete during the forecast period.
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Based on the applications, the report categorizes the global shotcrete-sprayed concrete market into the following segments:
- Underground construction
- Water retaining structures
- Repair works
- Protective coatings
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The top three revenue-generating application segments in the global shotcrete-sprayed concrete market are discussed below:
“The underground construction segment occupies a majority 37% of the global shotcrete-sprayed concrete market, is expected to continue its dominance during the forecast period owing to the growing need for transportation and increasing underground excavations,” says Hitesh Bhatia, a lead analyst at Technavio for glass and ceramics research.
The largest application of shotcrete-sprayed concrete in Europe is in the underground construction industry due to the accelerating tunneling and mining activities. Also, tunnel linings, the new Austrian tunneling method, and storage reservoirs are some of the prime areas of application for shotcrete-sprayed concrete in the underground construction segment.
Water retaining structures
The global shotcrete-sprayed concrete market for water retaining structures will showcase the fastest growth rate, with a projected CAGR of nearly 10% through the forecast period. The increasing demand for construction in developing countries such as Nigeria, India, and the Philippines is expected to drive the swift growth of the market segment.
Prime applicational areas for shotcrete-sprayed concrete in water retaining structures are sea and river walls, aqueducts, swimming pools, reservoirs and dams, water towers, canal linings, and irrigation and drainage channels. The market segment is expected to grow due to the growth of water preservation structures such as dams, check gates, and others.
“The global shotcrete-sprayed concrete market for repair works is expected to cross USD 1,440 million by 2021, driven by the increasing demand for low-cost repairs in housing and other damaged structures,” says Hitesh.
Shotcrete-sprayed concrete is used widely for repairing fire damaged structures, reinforcement corrosion, housing, cooling towers, bridges, brick arches and tunnels, jetties and wharves, tunnel linings, and cathodic protection.
The top vendors highlighted by Technavio’s research analysts in this report are:
- The Euclid Chemical Company
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