The global sprayed concrete market is expected to exhibit a strong 7.93% CAGR over the forecast period from 2018 to 2023. The global sprayed concrete market is driven by the growing awareness of its benefits, such as reduced porosity in the finished structure and lower operating costs than traditional processes. The growing construction industry in Asia Pacific is likely to be a major driver for the sprayed concrete market over the forecast period.
Pune, India, June 26, 2019 (GLOBE NEWSWIRE) -- The global sprayed concrete market is expected to exhibit a strong 7.93% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global sprayed concrete market is mainly driven by the growing awareness about the benefits of sprayed concrete processes over traditional pouring processes and the growing demand for new construction in developed as well as developing countries.
The global sprayed concrete market has become a key part of the global construction industry in recent years due to the growing acknowledgment of the benefits of the process over traditional concrete application processes. Sprayed concrete is sprayed onto the construction surface through pneumatic hoses rather than being poured into the structure. This allows the constructor to maintain higher consistency and solidity in the concrete, eliminating the problem of porosity often encountered in traditional concrete structures.
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Due to the ability of sprayed concrete to be distributed more evenly over any given surface than traditional poured concrete, the building retains a lower porosity over the long term, providing stronger structures and low maintenance costs. The operating costs of sprayed concrete processes are also lower than those of concrete pouring processes, leading to a growing demand from the global sprayed concrete market.
Leading players in the global sprayed concrete market include U.S. Concrete Inc., GCP Applied Technologies Inc., The QUICKRETE Companies, KPM Industries Ltd., LKAB, Sika AG, LafargeHolcim, CEMEX S.A.B. de C.V., HeidelbergCement AG, and BASF SE.
In March 2019, Sika AG acquired KPM in an effort to expand its presence across Canada and, in the larger picture, North America.
In June 2019, Spanish architecture firm MuDD announced plans to use drones for spraying concrete onto construction surfaces. This represents a significant innovation for the construction industry, as this could made construction significantly more reliable and easily monitorable. However, the adoption of this technology also has the potential to eliminate thousands of manual labor jobs in the construction industry, as drones can perform concrete spraying operations at a much higher efficiency and with more accuracy.
The global Sprayed Concrete Market is segmented on the basis of process, system, application, and region.
By process, the global sprayed concrete market is segmented into dry and wet processes. The wet process segment is likely to dominate the global sprayed concrete market over the forecast period due to the ease of water content management and easier spraying.
By system, the global sprayed concrete market is segmented into robotic and manual spraying systems. Robotic spraying systems are likely to dominate the global sprayed concrete market over the forecast period due to the greater efficiency of robotic spraying systems.
By application, the global sprayed concrete market is segmented into underground construction, protective coatings, water-retaining structures, retaining walls, strengthening and repair operations, and specialty construction. The underground construction segment is likely to hold the leading share in the global sprayed concrete market over the forecast period due to the growing demand for underground construction projects all over the world.
Europe is likely to hold the largest share in the global sprayed concrete market over the forecast period due to the growing demand from the construction industry in the region and the growing adoption of technology-intensive processes such as concrete spraying in the region’s construction industry. The growing demand for residential construction in European countries such as Germany and France is also likely to drive the demand from the sprayed concrete market in Europe over the forecast period. The increasing demand for technological innovation in the construction industry is likely to further drive the sprayed concrete market in Europe over the forecast period.
North America is also likely to hold a major share in the global sprayed concrete market over the forecast period due to the growing demand for technologically advanced processes in the construction industry and the growing demand for renovation of infrastructure buildings.
Asia Pacific is also likely to exhibit rapid growth over the forecast period due to the growing demand for infrastructure as well as residential construction over the forecast period. The robust growth of the construction industry in Asia Pacific is likely to remain a major driver for the sprayed concrete market in the region over the forecast period.
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