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“The concrete repair mortars market is projected to witness a CAGR of 6.1% during the forecast period.”
The concrete repair mortars market size was estimated at USD 2.1 billion in 2019 and is projected to reach USD 2.8 billion in 2024, at a CAGR of 6.1%. The high growth is attributed to rising pressure on the existing infrastructure due to rise in population. Concrete repair mortars are materials used in replacing corroded concrete in the existing structures, which helps in improving the lifespan of the structures.
“Buildings & carparks the largest end-use industry in the overall concrete repair mortars market.”
Buildings & carparks is projected to be the largest end-use industry of the concrete repair mortars market. The large market size for this segment is attributed to high need for repair in the buildings & carparks as they are built to last for a long time period. The concrete tends to crack and corrode due to exposure to extreme environmental conditions over a long time period. The demand for concrete repair mortars in buildings & carparks is rising as they prevent the buildings from collapsing and increase their lifespans.
“Hand/Trawling is the fastest-growing application method segment in the concrete repair mortars market.”
Hand/trawling is expected to be the fastest-growing method of application in the concrete repair mortars market during the forecast period. This method can be used in various forms and for both structural and non-structural repair. The application method can be used for both horizontal and vertical repair. The polymer-modified cementitious mortars are mostly applied through hand/trawling, having a repair depth of 10–75 mm in this method. This will help the growth of the concrete repair mortars market during the forecast period.
“APAC is the largest and the fastest-growing market of concrete repair mortars market”
APAC is projected to be the largest and the fastest-growing market of concrete repair mortars. The high growth rate of the market in the region is due to high investment in maintenance of public infrastructure by governments, which is expected to drive the concrete repair mortars market in the region during the forecast period. Key countries in the region are China, Japan, India, Australia, and South Korea. High investment in public infrastructure to cater to the large population is leading to high rate of deterioration of the structures. This is expected to lead to the demand for repairs of structures during the forecast period.
Extensive primary interviews were conducted to determine and verify the market size for several segments and subsegments and information gathered through secondary research.
The breakup of primary interviews is given below.
- By Company Type - Tier 1 – 40%, Tier 2 – 40%, and Tier 3 –20%
- By Designation - C level – 49%, Director level –26 %, and Others –25 %
- By Region - North America: 25%, Europe: 20%, APAC: 35%, Middle East & Africa: 10%, South America: 10%
The major players in the concrete repair mortars market are Sika AG (Switzerland), Fosroc International Ltd. (UK), BASF SE (Germany), Mapei SpA (Italy), Saint-Gobain Weber SA (France), Pidilite Industries Ltd. (India), Remmers Baustofftechnik GmbH (Germany) Flexcrete Technologies Ltd. (UK), The Euclid Chemical Co. (UK), and Adhesive Technology Corp. (US).
This research report categorizes the global concrete repair mortars market on the basis of type, grade, application method, and end-use industry. The report includes detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, challenges, and opportunities. The detailed analysis of key market players provides insights into business overviews, products & services, key strategies, investments & expansions, mergers & acquisitions, and recent developments in the market.
Reasons To Buy the Report:
- This report segments the global concrete repair mortars market comprehensively and provides the closest approximations of sizes for the overall market and subsegments across various verticals and regions.
- The report will help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders understand the major competitors and gain insights to enhance their positions in the business. The competitive landscape section includes expansions, new product developments, and mergers & acquisitions undertaken in the market.