Global Shotcrete/Sprayed Cement Market – Segmented by Sprayed Process, Application, and Region - Growth, Trends and Forecast (2018 - 2023)
The shotcrete/sprayed cement market is expected to register a CAGR of approximately 8.25% during the forecasted period, 2018-2023. The market is driven by many factors, such as rising demand from construction industry. However, environment issues, which result from dust released in dry process is expected to hinder the growth of the market.
“Demand from Construction Sector” Driving the Market
Construction is the primary growth factor for the shotcrete market and it is increasingly becoming popular in construction purposes, in response to its extremely economical and flexible nature. It is replacing regular concrete in construction of numerous skyscrapers as it imparts high mechanical strength to buildings. It also increases the bond strength by making the structure less porous along with lowering construction time and reducing costs.
“Underground Mining” the Dominant Application
Based on application, underground mining is the dominant application and is expected to grow at a good rate with growing underground tunneling activities in the United States, Canada, China, and India. In Canada, underground railway construction is underway along with Chinese government are laying plans to build the world’s largest water tunnel, which is more than 600 miles.
‘Europe’ the Largest Market Share
Europe accounts for the largest share of the global shotcrete market. The share is mainly attributed to the rise in underground construction activities in major countries, such as Italy and Germany. In addition, rapid technological advancements and raw materials in shotcrete, combined with Europe’s green innocuous approach to environment for construction activities is contributing to the growth of the shotcrete market in the region. The trend is expected to continue in the near future, owing to the rise in use of shotcrete as a permanent lining in the single shell tunnel.
October 2017: GCP Applied Technologies Inc. completed the acquisition of Schaumburg, Illinois- based Ductilcrete Technologiesa technology leader for concrete flooring systems, for $32 million
Major Players: BASF, Cemex, Sika, KPM Industries Ltd., and The Euclid Chemical Company, amongst others.
Reason to Purchase this Report
To understand the impact of end-user industries on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating product type and application in the market
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
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