Shotcrete

Shotcrete Market - Insights, Opportunity Analysis, and Industry
Forecast till 2025
Shotcrete is a technique used to pneumatically spray concrete through a hose at high
velocity onto the surface. Factors such as growing underground construction activities such
as tunneling and mining activities and rampant growth in infrastructure development are
factors expected to boost growth of the shotcrete market during the forecast period
(2017–2025). Robotic system segment is expected to dominate the shotcrete market over
the forecast period and is expected to expand at a CAGR of 9.3% in terms of volume.
According to a study conducted by Coherent Market Insights, the global robotic system
market is projected to reach over 4,137.25 TCM by the end of 2017.
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Europe accounted for the largest share in the global shotcrete market in 2016, according to
the stats provided by Coherent Market Insights. Increasing underground construction
activities in Europe creates a highly conducive environment for growth of the global
shotcrete market. For instance, in Europe the construction of metro rail project which will link
from east-north and west-south, currently Attiko Metro company prepares to construct four
new line, the project worth over US$ 3.61 billion and is expected to fuel the market for
shotcrete during 2017-2025. Moreover, rapid investment in infrastructural development to
provide reliable, sustainable and economic transportation in emerging economies such as
India and China further fuels growth of the global shotcrete market. The National Highways
and
Infrastructure Development Corp. (NHIDCL)—a government undertaking
company—plans to construct five mega tunnels in Jammu and Kashmir by 2024, at an
estimated cost of US$ 3.58 billion. Moreover, according to India Brand Equity Foundation
(IBEF)—a trust established by the Department of Commerce, Ministry of Commerce and
Industry, Government of India—in April 23, 2017, a metro rail projects with a total route
length of 903 kms in 13 cities are under consideration.
The global shotcrete market size was valued at US$ 5,612.73 million and 19,140.94 TCM in
2016 and is expected. The market is expected to expand at a CAGR of 8.1% in terms of
revenue and 8.3% in terms of volume during 2018 – 2025.
Process Insights
Among processes, wet-mix process segment accounts for the largest share in the shotcrete
market. In this process, water is added to the cement mixture and sprayed through the
nozzle wherein air and shotcrete accelerators are added. The wet-mix shotcrete process
segment is projected to expand at a revenue CAGR of 9.8% over the forecast period. This is
mainly attributed to its wide application in various applications in underground constructions,
water retaining structures, and protective coatings. Also, wet-mix process is largely used in
robotic equipment due to the high efficiency and in efficient time. Dry-mix process comprises
cement, admixtures, and aggregate, which are mixed to in a specified ratio, without water
and is then sprayed over the substrate through a high velocity nozzle. While these
processes are widely used across industries, improper use and lack of safety may lead to
serious injury while operating wet-mix and dry-mix process. Lack of skilled labor and
effective transportation facilities are expected to be key challenges for the global shotcrete
market.
Growing underground constructions activities, to boost the market growth
Europe, followed by Asia Pacific and North America, respectively, accounted for major share
in the global shotcrete market both in terms of revenue and volume in 2016 and the trend is
expected to remain the same over the forecast period. In 2016, Europe held a share of
36.75% in terms of volume, followed by Asia Pacific (25.85%). The growing infrastructure
development activities in Asia Pacific to support burgeoning population creates a highly
conducive environment for growth of the market. The recent past has witnessed a spurt in
tunneling activities, rapid urbanization and growing deployment of metro rail projects,
especially in Asia Pacific. According to a study conducted by Coherent Market Insights, the
global underground construction market is expected to witness a CAGR of 8.2% from 2017
to 2025 which in turn is expected to fuel growth of the global shotcrete market.
Multinational players need to tap potential addressable market in the emerging
regions with the help of geographical expansion
Major players in the global Shotcrete market include BASF SE, Heidelberg Cement, Grupo
ACS, Lafargeholcim, Cemex, Sika AG, GCP Applied Technologies, U.S. Concrete, Mapei,
and Normet. Among others.
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