DUBLIN--(BUSINESS WIRE)--The "Sprayed Concrete (Shotcrete) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The market for sprayed concrete (shotcrete) is expected to grow at a CAGR of more than 5.2% globally during the forecast period.
- BASF SE
- Custom Crete
- JE Tomes & Associates Inc.
- LKAB Berg & Betong
- Target Products Ltd
- The Euclid Chemical Company
- The QUIKRETE Companies
Key Market Trends
Underground Construction to Dominate the Market
- Shotcrete is the preferred construction method and concrete placement process for underground construction. It can be easily molded into various sizes and shapes.
- Beneficial attributes of sprayed concrete such as it require less formwork, fewer touchups after form stripping, provide excellent strength and durability, and can be installed quickly than other concrete.
- Shotcrete is primarily used in underground excavations, especially in the case of rocks and boulders. However, in recent times, it is employed for the advancement of tunnels through altered, cohesion-less, and loose soils.
- Underground applications of shotcrete include supplementing or replacing conventional support materials, such as lagging and steel sets, sealing rock surfaces, channeling water flows, and installing temporary support and permanent linings. Significantly growing expansion programs within the transportation and water/wastewater sectors are expected to provide a boost to the underground construction activities.
- All the aforementioned factors are expected to drive the sprayed concrete (shotcrete) market during the forecast period.
Europe Region to Dominate the Market
- Europe region stands to be the largest market for sprayed concrete (shotcrete). Factors, such as increasing demand from underground construction activities have been driving the sprayed concrete (shotcrete) requirements in Europe. Asia-Pacific is expected to be the fastest-growing market during the forecast period.
- In Europe, the majority of the market demand for the sprayed concrete market comes from Germany, Italy, France, United Kingdom, Spain, Switzerland, Scandinavia, Austria, and Greece.
- Wet-mix sprayed concrete dominates the European region owing to cost savings of using the wet-mix system. However, Austria is the country where dry-mix sprayed concrete is more preferred than wet-mix sprayed concrete.
- According to European steelmakers association Eurofer, EU construction output growth is forecast to slow to 0.8% on-year each in 2020 and 2021. This expected slowdown in 2020 is mainly due to demand-related factors such as weakening economic fundamentals and outbreak of novel COVID19 pandemic all around the world.
- Consequently, European Union policies have chosen to upgrade the Trans-European Road Network (TREN) to improve interstate transport. Because of this around 2100 kilometers of tunnels will be built in Europe by 2030.
- Hence, all such market trends are expected to drive the demand for sprayed Concrete (shotcrete) market in the region during the forecast period.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing Demand from the Construction Sector
4.1.2 Growing Underground Tunnel Activities
4.2.1 Environmental Issues Arising from the Dust Released in Dry Process
4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Sprayed Process
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing R&D activities
7.2 Other Opportunities
For more information about this report visit https://www.researchandmarkets.com/r/ryf8rd