PUNE, India, September 15, 2016 /PRNewswire/ --
The report "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", published by MarketsandMarkets, the market size is projected to reach USD 8.30 Billion by 2021, registering a CAGR of 8.0%, in terms of value, during the forecast period.
Browse 114 market data Tables and 53 Figures spread through 178 Pages and in-depth TOC on "Shotcrete/Sprayed Concrete Market"
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The growth of this market is fueled by technological developments in the shotcrete market and increasing underground construction activities.
Wet Mix: The fastest-growing process of shotcrete
Wet mix is the fastest-growing process of the shotcrete market. Europe is currently the largest user of wet mix shotcrete process. This process accounted for nearly 80.0% share of the overall shotcrete market, in terms of value, in 2015. Wet mix process is used when high set concrete quality is specified and high output is required. It is the most popular process used in mechanical tunneling and mining. Efficient applications of concrete by wet mix process, its cost-effectiveness, and less production of rebound in the form of cementitious material drives the market for wet mix in Europe.
Underground construction: The largest application of shotcrete
Underground construction is the largest application for shotcrete, and this trend is projected to continue during the forecast period due to the increasing infrastructural developments, rapid advancements in technology and raw materials, and growing need for transportation & underground excavations. In Europe, shotcrete is largely used in the underground construction industry due to the accelerating tunneling and mining activities. Underground construction is also projected to be the fastest-growing application, followed by protective coatings, water retaining structures, repair works, and others, between 2016 and 2021, due to increasing urbanization and growing demand for civil construction in developing countries such as India, Nigeria, and the Philippines.
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Europe: The largest market for shotcrete/sprayed concrete
Europe is the largest Shotcrete Concrete Market globally, which accounted for the maximum share of the global market, in terms of value, in 2015, mainly because of the increase in underground construction activities in major economies, such as Germany, Italy, Austria, and Switzerland. In addition, rapid advancements in technology and raw materials in shotcrete owing to Europe's green and ecofriendly approach for construction activities also contribute to the growth of the shotcrete market in the region. Norway and Sweden show promising demand for shotcrete, and this trend is expected to continue in the near future due to the rise in use of shotcrete as a permanent lining in the single shell tunnel, as well as increasing need for underground transportation. Europe shows higher investments in tunneling and mining projects because of growing application markets, demand for low-cost housing, need for underground transportation, and availability of raw materials for shotcrete technology.
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