HOME › Research Insight › Rapid Developments in Technology and Raw Materials and Economical and Technical Efficiency Drive the Shotcrete/Sprayed Concrete Market
Rapid Developments in Technology and Raw Materials and Economical and Technical Efficiency Drive the Shotcrete/Sprayed Concrete Market
The global shotcrete market is projected to reach USD 8.30 Billion by 2021, registering a CAGR of 8.0% between 2016 and 2021. The market for shorcrete is fragmented with the presence of different end-use applications such as for retaining walls, tunnel linings, storage reservoirs, reservoirs and dams, canal linings, rock and soil stabilization, bridges, and so on.
Mergers & acquisitions was the key strategy adopted by industry players to boost their growth in the shorcrete market. This strategy accounted for a share of 48.0% of all growth strategies adopted by the market players between 2011 and 2016. Companies also adopted the strategy of new product launch & development to expand their global reach. This strategy accounted for 22.0% of all developments witnessed between 2011 and 2016. Companies such as BASF S.E. (Germany), KPM Industries Ltd. (Canada), Sika AG (Switzerland), and U.S Concrete Inc. (U.S.) made launched many new products during 2011-2016.
The key participants in the shorcrete market such as BASF S.E. (Germany), KPM Industries Ltd. (Canada), Sika AG (Switzerland), and U.S Concrete, Inc. (U.S.), LKAB Berg & Betong AB (Sweden), HeidelbergCement AG (Germany), and LafargeHolcim (Switzerland) are profiled in this report. These companies adopted the highest number of strategies in the global shotcrete market from 2011 to 2016.
BASF S.E. (Germany) and Sika AG (Switzerland) were the most active players in the shotcrete market in 2015. They accounted for the largest share of all the developmental activities undertaken in the shorcrete market between 2011 and 2016. These companies follow dynamic growth strategies with expansions and new product launches as the key growth strategies to enhance their presence globally. For instance, in April 2015, BASF S.E. (Germany) established the largest construction chemicals plant at Nellore, Andhra Pradesh, India to manufacture standard and custom-made performance-based concrete admixtures, such as MasterGlenium, MasterPolyheed, and MasterRheobuild at the new plant.
Sika AG (Switzerland) has also established a strong foothold in the shotcrete market is. The company established a new national subsidiary in Kuwait, which aids Sika to supply high-quality concrete admixtures and refurbishment products directly to customers in Kuwait, and benefit from the countrys booming construction market.
Shotcrete/Sprayed Concrete Market by Process (Wet & Dry), Application (Underground Construction, Water Retaining Structures, Protective Coatings, Repair Works), System (Robotic and Manual), and Region - Global Forecasts to 2021
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