Shotcrete Concrete Market Size, Opportunities, Industry Analysis By Top Leaders, Development Strategy and Trends by Forecast 2023

The detailed report published by Market Research Future (MRFR) projects that the global Shotcrete Concrete Market is marked to exhibit significant expansion at a CAGR of 8% during the forecast period of 2017-2022. The global sprayed concrete market is also anticipated to reach the market valuation of USD 9.1 Bn by the end of the review period (2022). Increase in underground constructions as a result of rapid urbanization, utilization of technologically advanced solutions to optimize the construction process, rise in investments for the construction of highly durable tunnels to ease the transportation, and increased mining activities due to skyrocketing global demand are majorly propelling the growth of the global sprayed concrete market during the assessment period.

Global Sprayed Concrete Market: Segmental Analysis

The global sprayed concrete market has been segmented on the basis of process and application. Based on process, the global sprayed concrete market has been segmented into dry process and wet process. Among these, the wet process commands the major share of the global sprayed concrete market owing to the high utilization of this provides better durability and rigidity to the infrastructure without spreading cement dust in the air. Based on application, the global sprayed concrete market has been segmented into underground construction, retaining walls, protective coatings, water-retaining structures, specialty construction, strengthening and repair, and others. Among these, the underground construction segment commands the maximum share of the global sprayed concrete market owing to the increased underground excavation and construction activities such a tunneling, mining, and others. Increased government funding for the development of public infrastructure, rapid urbanization, high demand for underground public transportation system in order to avoid the delay caused by surface traffic, and increased adoption of advanced technology for optimizing the process of infrastructural development are also fueling the growth of the global sprayed concrete market during the assessment period.

Global Sprayed Concrete Market: Regional Analysis

Geographically, the global sprayed concrete market has been segmented into four major regions such as Asia Pacific (APAC), North America, Europe, and the rest of the world. The Europe region commands the maximum share of the global sprayed concrete market. The factors such as increase in underground constructions as a result of rapid urbanization, utilization of technologically advanced solutions to optimize the construction process, rise in investments for the construction of highly durable tunnels to ease the transportation, and increased mining activities due to skyrocketing global demand are majorly propelling the growth of the global sprayed concrete market in the Europe region. Increased government funding for the development of public infrastructure, rapid urbanization, high demand for underground public transportation system in order to avoid the delay caused by surface traffic, and increased adoption of advanced technology for optimizing the process of infrastructural development along with the availability of cheaper raw materials in the emerging economies of India, China, Japan, and others are fueling the growth of the sprayed concrete market in the Asia Pacific (APAC) region.

Global Sprayed Concrete Market: Key Players

The key players profiled by Market Research Future (MRFR) that are operating in the global sprayed concrete market are BASF, Atlas Copco, Cemex S.A.B., Lkab Berg & Betong, KPM Industries, U.S. Concrete, GCP Applied Technologies, Tarmac Building Products Limited, Prestige Concrete Products, Sika AG and among others. The players in the global sprayed concrete market are introducing innovative and technologically advanced devices to provide effective solutions and concrete spraying equipment, in order to expand their businesses in the global sprayed concrete market. Strategically planned mergers and acquisitions along with collaborations in multiple projects are aiding these players in sustaining the competition in the global sprayed concrete market during the assessment period.