NEW YORK, March 23, 2021 /PRNewswire/ -- The global concrete repair mortars market size is expected to reach USD 3.73 billion by 2028. according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR of 4.6% from 2021 – 2028. A rise in demand for mortars on account of its key properties such as stress immunity, tensile strength, and large application in construction is projected to drive the market growth. Increasing activities related to housing infrastructure development and their renovation are making a positive impact on the overall development of the market. In addition to this, the growing need for infrastructure repair and maintenance across the globe creating lucrative opportunities for market players. Moreover, the rise in major collaborations among public and private entities in the transport infrastructure further propels the market growth.
Key trends Observed in the Concrete Repair Mortars Market
Based on mortar type, the epoxy concrete mortars segment dominated the concrete repair mortars market and is expected to follow the same trends during the forecast period. These mortars are primarily used to repair broken or cracked concrete flooring and provide additional concrete strength. Epoxy mortar is stain proof, highly durable, and finds extensive use in high-strength applications.
By the method of application, the spraying segment is estimated to grow substantially and also account for significant market share owing to its ease in applicability during long-duration continuous work. This method is primarily used in marine structures, cooling tower shells, parapets, industrial chimneys, and water-retaining structures.
In terms of application, the buildings segment is projected to contribute the largest revenue share. The segment's growth is attributed to the increased use of mortars due to their key properties such as long-lasting nature and high structural strength adding to their longevity. Rapid progress in the development of smart cities with world-class structures is contributing to the growth of the segment.
The Asia Pacific dominates the market for concrete repair mortars on account of a growing population, rise in demand for repair materials, and increasing investment by public-private organizations for transport infrastructure development. North America is expected to garner a faster growth rate over the forecast period due to increased repair activities of damaged roads, highways, and roads. In addition to this, increasing spending by the government to develop world-class structures is turning out in the favor of the regional market.
Some of the prominent players operating in the global concrete repair market are Adhesive Technology Corporation, Bostik, Ardex Group, Pidilite Industries Ltd, Fosroc International Ltd., Mapei S.P.A, Saint-Gobain Weber S.A., Flexcrete Technologies Ltd., and Sika AG. Leading companies are adopting key strategies such as contracts, partnerships, and regional expansions to increase their reach in the market globally. The industry offers lucrative growth opportunities. It has attracted several startups to enter the market.
Supply Side: Manufacturer and Suppliers of Building Materials
Demand Side: Road and Infrastructure Developers
Regulatory Side: Ministry of Public Infrastructure
Polaris Market Research has segmented the concrete repair mortars market report on the basis of mortar type, end-use, method of application, and region:
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About Polaris Market Research
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