Shotcrete Market - Insights, Opportunity Analysis, and Industry Forecast till 2025

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 2017 – 2025.
Process Insights
Among process, wet-mix process segment accounts for the largest share in the shotcrete
market. During the process, cement mixture is mixed with water initially. Then, this mixture
is sprayed through a nozzle, where air and shotcrete accelerators are added. The wet-mix
process segment is projected to expand at a CAGR of 9.8% over the forecast period, owing to
its wide application in underground constructions, water retaining structures, and protective
coatings. Moreover, due to its high efficiency and efficient timing, it is largely used in robotic
equipment. In dry-mix process, cement, admixtures, and aggregate are mixed at a specified
ratio without water and then, it is sprayed through a high velocity nozzle over the substrate.
However, lack of skilled labor and effective transportation facilities are expected to hamper
growth of the global shotcrete market over the forecast period.
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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Shotcrete Market report categorizes global market by Process (Wet-Mix, Dry-Mix), System (Robotic, Manual), Application, and Geography - Insights, Opportunity Analysis, and Industry Forecast till 2025

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