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Sprayed Concrete Market Global Research Report 2019 Analysis & Forecast to 2022
Market Research Future added New Report Named "Global Sprayed Concrete Market Research Report- Forecast 2022" to its Database
The global spayed concrete market is expected to expand at ~7.93% CAGR during the forecast period.
The global sprayed concrete market is expected to witness substantial growth during the forecast period. Europe is estimated to be a prominent region for sprayed concrete market due to the development of infrastructure and the construction of residential, commercial, and municipal buildings. Similarly, the growing construction industry and the various tunneling projects that are pipelined in North America and Asia-Pacific are projected to drive the sprayed concrete market during the forecast period. In 2017, North America held the second largest market share in the sprayed concrete market. Commercial buildings such as commercial complexes and offices are increasing as business hubs are becoming overpopulated and creating a demand for new complexes. This is driving the sprayed concrete market in this region.
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The global sprayed concrete market is segmented based on process, system, and application. On the basis of process, the sprayed concrete market is divided into wet process and dry process. The wet process segment is dominating the market, owing to various advantages such as controlling on water content, easy spraying, and adding admixtures as per design requirement during the preparation of the mix.
On the basis of system, the sprayed concrete market is divided into robotic spraying system and manual system. The robotic spraying system is the dominating segment, owing to the growing demand for simplifying the tasks of the operator and the lack of trained spraying equipment operators.
On the basis of application, the global sprayed concrete market is segmented into underground construction, protective coatings, water-retaining structures, retaining walls, strengthening & repair, and specialty construction. The underground construction segment holds the maximum market share, owing to the increasing underground construction, across the globe.
Region-specific analysis of the low-speed vehicle market spans across North America, Europe, Asia-Pacific (APAC), the Middle East & Africa, and South America.
The construction sector is one of the most important sectors in the European economy. According to EUROPEAN BUILDERS CONFEDERATION, the construction industry in Europe contributes around 9% to the total GDP of the EU, owing to the presence of 3 million enterprises, which employs a total direct workforce of 18 million people. The residential construction segment had the highest contribution in the construction industry in 2016 and grew by 5% compared to 2015. The upgrade of infrastructure and the construction of residential, commercial, and municipal buildings drive the construction industry in Europe, which provides traction for the sprayed concrete market to grow steadily.
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Germany has experienced an increase in immigration, which has resulted in a substantial population boost and an urgent need for affordable housing. The low-interest rates introduced by the European Central Bank have transformed the mortgage loan process, which increased the construction of residential buildings. In the UK, the value of the construction industry in both, public and private sectors, has increased. The growing construction industry can be attributed to the increasing construction of private housing buildings and commercial and industrial infrastructure and the rising of privately funded projects in the healthcare industry. The significant growth of the construction industry is expected to drive the sprayed concrete market.
The global sprayed concrete market has been segmented on the basis of process, system, application, and region. On the basis of process, the market is divided into wet process and dry process. The wet process segment is expected to dominate the sprayed concrete market due to the advantages it offers, including controlling the water content, easy spraying, and adding admixtures as per the design requirement during the preparation of the mix.
The key players of global sprayed concrete market are BASF SE (Germany), HEIDELBERGCEMENT AG (Germany), CEMEX S.A.B. de C.V. (Mexico), LafargeHolcim (Switzerland), Sika AG (Switzerland), LKAB (Sweden), KPM Industries Ltd (Canada), The QUIKRETE Companies (US), GCP Applied Technologies Inc. (US), U.S. Concrete, Inc. (US).
In January 2019, BASF SE launched its Virtual Design and Construction (VDC) resource center, which offers Building Information Modeling (BIM) content and other digital services for its clients in the construction industry.
In March 2019, Sika AG acquired KPM Industries Ltd, an independent Canadian manufacturer of dry shotcrete and mortars for concrete repair. This acquisition enables it to expand its business footprint in Canada
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