Shotcrete Market Report
Shotcrete Market by Process (Wet Mix and Dry Mix), Application (Underground Construction, New Structures, Repair Works, and Slope & Surface Protection), Technique (Robotic and Manual), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028
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Impact of covid-19 on Shotcrete Market
Global Shotcrete Market Analysis
The global shotcrete market accounted for $6,685.2 million in 2020 and is predicted to grow with a CAGR of 8.9%, by generating a revenue of $13,215.3 million by 2028.
Shotcrete market is gaining huge popularity owing to rapid surge in construction activities such as development of smart cities, metropolis, industrialization, bridges, and underground structures. Shotcrete also known as sprayed concrete is an efficient technique of spraying concrete onto free form surfaces and complex structures such as tunnels. Various benefits offered by shotcrete process incudes durability, high tensile strength, low permeability, thermal efficiency, and fire retardation. It is commonly used in repair works for repair of fire and earthquake damage and deteriorated surfaces, encasing structural steel for fireproofing, and strengthening walls.
However, the requirement of skilled labors for the use of shotcrete technique is estimated to hamper the sprayed concrete market. Improper use of shotcrete can lead to development of cracks that can damage the surface.
According to regional analysis, the Asia-Pacific shotcrete market accounted for $2,456.8 million in 2020 and is predicted to grow with a CAGR of 9.5% in the projected timeframe.
Shotcrete or sprayed concrete is a method of applying concrete at a high velocity on to a vertical or overhead surface. Shotcrete offers similar hardened properties as that of conventional cast-in-place concrete. However, shotcrete is more efficient as the placement process results in formation of excellent bond with an ability to form complex shapes and forms. Shotcrete is more economical than traditional concrete process as it requires less formwork, less labor, and requires small portable plant for manufacturing and placement. Shotcrete is durable and versatile process as the velocity at which the mixture is sprayed, drives particles into every crevice on the receiving surface that results in mass typically making it durable & long-lasting than other methods.
COVID-19 Impact on the Shotcrete Market
The global crisis caused by COVID-19 pandemic negatively impacted the economy affecting the global trade. COVID-19 pandemic has affected various industries and shotcrete market has experienced negative impact owing to financial recession in construction industry that has led to unemployment and postponement or cancellation of construction projects. This impact is being faced by various countries hit by the pandemic creating uncertainty and unrest. The diversion of government budgets towards healthcare sector has brought construction projects to a standstill. In social distancing norms, import-export restrictions have led to non-availability of raw materials and shortage of labors. The workers are unable to reach their transportation sites due to lockdown imposed in various parts of country. Hence, operational restrictions and disrupted supply chains have negatively impacted the shotcrete market size during the pandemic.
Various company initiatives to protect the stakeholders and the employees during pandemic are helping the society to recover from chaotic situation. For instance, LafargeHolcim, the leading Swiss multinational company that manufactures building materials, has taken initiatives such as protecting the health and wellbeing of staff and their families via awareness, medical preparedness, and training. This initiative has facilitated continuity in business operations via proactive supply chain management. In January 2020, the company formed Business Resilience Teams at group and country levels that incorporates expertise in HR, operations, health & safety, procurement, IT, legal, security, and resilience for monitoring and reporting the preparedness level of the organization.
Efficiency Offered by the Shotcrete Process to Drive the Market Growth
High efficiency offered by the shotcrete process as it is economical since it requires less formwork compared to conventional concrete method is estimated to drive the shotcrete demand. In shotcrete process the cement content is high which makes it more durable. Shotcrete process offers resistance to freezing and thawing. This is because wet mix shotcrete with mixture of 8 to 12% air content generates air-zero system in place. Shotcrete offers sustainability as it contains higher percentage of recycled material and presence of high thermal mass, which helps in the development of energy-efficient structures. In addition, shotcrete eliminates the need for engineered concrete footings for one-sided wall bracing due to which no formwork is required. Also, this process facilitates architectural creativity which is otherwise price prohibitive or infeasible.
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Requirement of Skilled Labor is Predicted to Hamper the Market Growth
Shotcrete requires skilled operator or nozzleman for the concrete spraying process to obtain the maximum efficiency as the water to cement ratio must be maintained accurately. The presence of excess water can compromise the quality of concrete that leads to reduced strength and durability which is estimated to restrain the shotcrete market share.
Application of Shotcrete for the Development of Free Form Structures to Generate Huge Opportunities
Shotcrete is widely used method for construction of free form surfaces that are difficult to construct using conventional cast-in-place concrete technique. The construction of thin overhead vertical or horizontal surface such as canal, reservoir, tunnel lining, or folded sections is estimated to drive the shotcrete market demand. In addition, it is also used on stabilization of rock slopes, construction of prestressed tanks, water retaining structures, and swimming pools. Shotcrete plays a vital role in offering protection against long-term corrosion of piling, steel building frames, oil tanks, coal bunker as well as for encasing structural steel for fireproofing. It is also used in high temperature applications such as refractory lining of chimneys, furnaces, and kilns.
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Based on process, the market has been divided into Wet Mix and dry mix. Among these, the Wet Mix sub-segment accounted for the highest revenue share in 2020 and it is estimated to show the fastest growth during the forecast period.
Source: Research Dive Analysis
The wet mix sub-type is anticipated to have a dominant market share and generate a revenue of $10,581.5 million by 2028, growing from $5,209.1 million in 2020. In wet mix process, the water content is controlled more precisely as wet mix process involves mixing all the ingredients with required water content. Spraying operation is easy as the mix is prepared before. In this process, the admixtures can be added as per the design requirement and air consumed is less. Wet mix process offers high strength as it has less water to cement ratio compared to the poured concrete. Due to this, wet mix process has high compressive strength and dense compaction is achieved by high velocity of application. The bond strength provided by wet mix process is high as the aggregate mixture is properly prepared and enhanced adhesion is achieved.
Based on application, the market has been divided into Underground Construction, new structures, repair works, and slope & surface protection. Among these, the Underground Construction sub-segment accounted for the highest revenue share in 2020 and it is estimated to show the fastest growth during the forecast period.
Source: Research Dive Analysis
The underground construction sub-segment is anticipated to have a dominant market share and generate a revenue of $7,472.4 million by 2028, growing from $3621.1 million in 2020. Shotcrete is widely used process in the underground construction as concrete spraying can be done from a safe distance. The underground space development is susceptible to extreme geological conditions, harmful gas outbursts, high ground stress, and rock bursts. Shotcrete is a popular method for the installation of permanent structural lining for non-uniform surfaces in underground construction. In addition, shotcrete excels in tunnel applications as conventional methods require the use of heavy structures such as steel that has limited flexibility.
Based on technique, the market has been divided into Robotic and manual. Among these, the Robotic sub-segment accounted for the highest market share in 2020 and is estimated to show the fastest growth during 2021-2028.
Source: Research Dive Analysis
The robotic sub-segment is anticipated to have a dominant market share and generate a revenue of $8,897.2 million by 2028, growing from $4,347.0 million in 2020. The demand for robotic shotcrete technique such as the use of mechanized equipment with robotic arm offers various advantages such as high-quality mixture with homogenous support. This is because in robotic or mechanized wet mix, spraying the water to cement ratio is automatically controlled by the robotic arm that provides high strength. Robotic shotcrete offers energy savings as one robotic arm of sprayed concrete offers same performance as that of three machines having same power and requirements. It requires less manpower as robotic technique can be operated by two workers compared to manual concrete spraying that requires more workers. Also, the spraying output with the robotic arm is high compared to the manual spraying.
The shotcrete market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
The Market for Shotcrete in Asia-Pacific to be the Most Dominant and Fastest Growing
The Asia-Pacific shotcrete market accounted $2,456.8 million in 2020 and is projected to grow with a CAGR of 9.5%. Asia-Pacific shotcrete market share is driven by rapid urbanization, population growth, and upcoming infrastructure projects. For instance, Indian government has taken various initiatives to boost the developments in construction sector. The Smart Cities Mission launched by Indian government promotes the development of cities to build clean and sustainable infrastructure along with giving decent quality of life to their citizens. Similarly, Pradhan Mantri Awas Yojana, aims at providing housing to all by 2022 which was launched in June 2015. Similarly, to boost the economic growth in China, the Chinese government is investing heavily in the large infrastructure projects. For instance, as stated on February 4, 2019, in the South China Morning Post, the Hong Kong based English language newspaper, the National Development and Reform Commission (NDRC), the state planning and development commission of China, has approved 27 infrastructure projects with total estimated investment of $219.4 billion. This includes the rail projects in Chengdu, Zhengzhou, Kunming, Chongqing, and Xian along with the expansion of Xianyang International Airport. As shotcrete is widely used in new construction projects as well as in repair works, it is estimated to drive the market demand.
Competitive Scenario in the Global Shotcrete Market
Product launch and acquisition are common strategies followed by major market players.
Source: Research Dive Analysis
Some of the leading shotcrete market players are BASF SE, HeidelbergCement AG, Grupo ACS, Lafargeholcim Ltd., Cemex S.A.B. De C.V., Sika AG, GCP Applied Technologies, Vulcan Materials Company, Mapei S.p.A., and Normet.
Porter’s Five Forces Analysis for the Global Shotcrete Market:
- Bargaining Power of Suppliers: The bargaining power of suppliers is high as the shotcrete manufacturers are dependent on the raw material suppliers for procuring cement, sand, stone, and aggregates for shotcrete process.
Thus, the bargaining power of suppliers is high.
- Bargaining Power of Buyers: The bargaining power of buyers is moderate as shotcrete is commonly used technique nowadays for various construction activities across the world. Hence, buyers have various option to choose the shotcrete provider considering per cubic meter price of shotcrete.
Thus, buyer’s bargaining power will be moderate.
- Threat of New Entrants: The threat of new entrants is low as shotcrete manufacturers have to adhere to the government regulations regarding harmful emissions from cement and they need to focus on sustainable development strategies. In addition, large capital investment is required for setting up the manufacturing plant.
Thus, the threat of the new entrants is low.
- Threat of Substitutes: The availability of substitute technique such as conventional cast-in-place concrete, gunite may affect the market growth. However, shotcrete is efficient, reduces the labor cost, and helps in timely completing of construction projects due to which conventional concrete spraying technique does not have major impact on the market.
Thus, the threat of substitutes is moderate.
- Competitive Rivalry in the Market: The companies operating in this market are focusing on adopting innovative technologies such as mechanized sprayed concrete technique, business expansion, and acquisition.
Therefore, competitive rivalry in the market is moderate.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, LAMEA
Segmentation by Process
Segmentation by Application
Segmentation by Technique
Key Companies Profiled
Q1. What is the size of the global shotcrete market?
A. The size of the global shotcrete market was over $6,685.2 million in 2020 and is projected to reach $13,215.3 million by 2028.
Q2. Which are the major companies in the shotcrete market?
A. HeidelbergCement AG, Grupo ACS, and Lafargeholcim Ltd. are some of the key players in the global shotcrete market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What will be the growth rate of the Asia-Pacific shotcrete market?
A. Asia-Pacific shotcrete market is anticipated to grow at 9.5% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. Product launch and acquisition are the two key strategies opted by the operating companies in this market.
Q6. Which companies are investing more on R&D practices?
A. Cemex S.A.B. De C.V., Sika AG, and Mapei S.p.A. Group are the companies investing more on R&D activities for developing new products and technologies.
Q7. What are the growth estimates for the shotcrete market in 2025?
A. The global shotcrete market is projected to acquire a revenue of $10,193.4 million by 2025.
Q8. What are the key factors driving the growth of the shotcrete market?
A. Rapid industrialization, development of smart cities, construction of highways, bridges, tunnels, and technical efficient offered by shotcrete are major growth driving factors in this market.
Q9. Which region is dominating the shotcrete market growth?
A. Asia-Pacific region is dominating in the shotcrete market growth.
1.2.Real time insights and validation
1.4.Assumptions and forecast parameters
3.1.Market segmentation & definitions
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis
3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market
3.8.Market value chain analysis
4.Shotcrete Market, by Process
4.1.1.Market size and forecast, by region, 2020-2028
4.1.2.Comparative market share analysis, 2020 & 2028
4.2.1.Market size and forecast, by region, 2020-2028
4.2.2.Comparative market share analysis, 2020 & 2028
5.Shotcrete Market, by Application
5.1.1.Market size and forecast, by region, 2020-2028
5.1.2.Comparative market share analysis, 2020 & 2028
5.2.1.Market size and forecast, by region, 2020-2028
5.2.2.Comparative market share analysis, 2020 & 2028
5.3.1.Market size and forecast, by region, 2020-2028
5.3.2.Comparative market share analysis, 2020 & 2028
5.4.Slope & Surface Protection
5.4.1.Market size and forecast, by region, 2020-2028
5.4.2.Comparative market share analysis, 2020 & 2028
6.Shotcrete Market, by Technique
6.1.1.Market size and forecast, by region, 2020-2028
6.1.2.Comparative market share analysis, 2020 & 2028
6.2.1.Market size and forecast, by region, 2020-2028
6.2.2.Comparative market share analysis, 2020 & 2028
7.Shotcrete Market, by Region
7.1.1.Market size and forecast, by Process, 2020-2028
7.1.2.Market size and forecast, by Application, 2020-2028
7.1.3.Market size and forecast, by Technique, 2020-2028
7.1.4.Market size and forecast, by country, 2020-2028
7.1.5.Comparative market share analysis, 2020 & 2028
188.8.131.52.Market size and forecast, by Process, 2020-2028
184.108.40.206.Market size and forecast, by Application, 2020-2028
220.127.116.11.Market size and forecast, by Technique, 2020-2028
18.104.22.168.Comparative market share analysis, 2020 & 2028
22.214.171.124.Market size and forecast, by Process, 2020-2028
126.96.36.199.Market size and forecast, by Application, 2020-2028
188.8.131.52.Market size and forecast, by Technique, 2020-2028
184.108.40.206.Comparative market share analysis, 2020 & 2028
220.127.116.11.Market size and forecast, by Process, 2020-2028
18.104.22.168.Market size and forecast, by Application, 2020-2028
22.214.171.124.Market size and forecast, by Technique, 2020-2028
126.96.36.199.Comparative market share analysis, 2020 & 2028
7.2.1.Market size and forecast, by Process, 2020-2028
7.2.2.Market size and forecast, by Application, 2020-2028
7.2.3.Market size and forecast, by Technique, 2020-2028
7.2.4.Market size and forecast, by country, 2020-2028
7.2.5.Comparative market share analysis, 2020 & 2028
188.8.131.52.Market size and forecast, by Process, 2020-2028
184.108.40.206.Market size and forecast, by Application, 2020-2028
220.127.116.11.Market size and forecast, by Technique, 2020-2028
18.104.22.168.Comparative market share analysis, 2020 & 2028
22.214.171.124.Market size and forecast, by Process, 2020-2028
126.96.36.199.Market size and forecast, by Application, 2020-2028
188.8.131.52.Market size and forecast, by Technique, 2020-2028
184.108.40.206.Comparative market share analysis, 2020 & 2028
220.127.116.11.Market size and forecast, by Process, 2020-2028
18.104.22.168.Market size and forecast, by Application, 2020-2028
22.214.171.124.Market size and forecast, by Technique, 2020-2028
126.96.36.199.Comparative market share analysis, 2020 & 2028
188.8.131.52.Market size and forecast, by Process, 2020-2028
184.108.40.206.Market size and forecast, by Application, 2020-2028
220.127.116.11.Market size and forecast, by Technique, 2020-2028
18.104.22.168.Comparative market share analysis, 2020 & 2028
22.214.171.124.Market size and forecast, by Process, 2020-2028
126.96.36.199.Market size and forecast, by Application, 2020-2028
188.8.131.52.Market size and forecast, by Technique, 2020-2028
184.108.40.206.Comparative market share analysis, 2020 & 2028
7.2.11.Rest of Europe
220.127.116.11.Market size and forecast, by Process, 2020-2028
18.104.22.168.Market size and forecast, by Application, 2020-2028
22.214.171.124.Market size and forecast, by Technique, 2020-2028
126.96.36.199.Comparative market share analysis, 2020 & 2028
7.3.1.Market size and forecast, by Process, 2020-2028
7.3.2.Market size and forecast, by Application, 2020-2028
7.3.3.Market size and forecast, by Technique, 2020-2028
7.3.4.Market size and forecast, by country, 2020-2028
7.3.5.Comparative market share analysis, 2020 & 2028
188.8.131.52.Market size and forecast, by Process, 2020-2028
184.108.40.206.Market size and forecast, by Application, 2020-2028
220.127.116.11.Market size and forecast, by Technique, 2020-2028
18.104.22.168.Comparative market share analysis, 2020 & 2028
22.214.171.124.Market size and forecast, by Process, 2020-2028
126.96.36.199.Market size and forecast, by Application, 2020-2028
188.8.131.52.Market size and forecast, by Technique, 2020-2028
184.108.40.206.Comparative market share analysis, 2020 & 2028
220.127.116.11.Market size and forecast, by Process, 2020-2028
18.104.22.168.Market size and forecast, by Application, 2020-2028
22.214.171.124.Market size and forecast, by Technique, 2020-2028
126.96.36.199.Comparative market share analysis, 2020 & 2028
188.8.131.52.Market size and forecast, by Process, 2020-2028
184.108.40.206.Market size and forecast, by Application, 2020-2028
220.127.116.11.Market size and forecast, by Technique, 2020-2028
18.104.22.168.Comparative market share analysis, 2020 & 2028
22.214.171.124.Market size and forecast, by Process, 2020-2028
126.96.36.199.Market size and forecast, by Application, 2020-2028
188.8.131.52.Market size and forecast, by Technique, 2020-2028
184.108.40.206.Comparative market share analysis, 2020 & 2028
7.3.11.Rest of Asia Pacific
220.127.116.11.Market size and forecast, by Process, 2020-2028
18.104.22.168.Market size and forecast, by Application, 2020-2028
22.214.171.124.Market size and forecast, by Technique, 2020-2028
126.96.36.199.Comparative market share analysis, 2020 & 2028
7.4.1.Market size and forecast, by Process, 2020-2028
7.4.2.Market size and forecast, by Application, 2020-2028
7.4.3.Market size and forecast, by Technique, 2020-2028
7.4.4.Market size and forecast, by country, 2020-2028
7.4.5.Comparative market share analysis, 2020 & 2028
188.8.131.52.Market size and forecast, by Process, 2020-2028
184.108.40.206.Market size and forecast, by Application, 2020-2028
220.127.116.11.Market size and forecast, by Technique, 2020-2028
18.104.22.168.Comparative market share analysis, 2020 & 2028
22.214.171.124.Market size and forecast, by Process, 2020-2028
126.96.36.199.Market size and forecast, by Application, 2020-2028
188.8.131.52.Market size and forecast, by Technique, 2020-2028
184.108.40.206.Comparative market share analysis, 2020 & 2028
220.127.116.11.Market size and forecast, by Process, 2020-2028
18.104.22.168.Market size and forecast, by Application, 2020-2028
22.214.171.124.Market size and forecast, by Technique, 2020-2028
126.96.36.199.Comparative market share analysis, 2020 & 2028
8.1.4.Recent strategic moves & developments
8.2.4.Recent strategic moves & developments
8.3.4.Recent strategic moves & developments
8.4.4.Recent strategic moves & developments
8.5.Cemex S.A.B. De C.V.
8.5.4.Recent strategic moves & developments
8.6.4.Recent strategic moves & developments
8.7.GCP Applied Technologies
8.7.4.Recent strategic moves & developments
8.8.Vulcan Materials Company
8.8.4.Recent strategic moves & developments
8.9.4.Recent strategic moves & developments
8.10.4.Recent strategic moves & developments
Shotcrete is a type of concrete which are usually applied by spraying. It is a complex mixture of portland and aggregate cement, which are then sprayed onto free form surfaces and composite structures like walls, tunnels, and others. Thus, the concrete produced through shotcrete process provides a great deal of durability, tensile strength, fire retardations, thermal efficiency, and lots more. They are extensively used to damage repairs from disasters like explosions, earthquake, and others.
Forecast Analysis of the Global Shotcrete Market
The innovative shotcrete process is much more cost effective than the conventional concrete process, owing to the less labor, lower formwork, and availability of a compact portable plant for placement and manufacturing. In addition, the concrete produced by shotcrete process have high durability, tensile strength, and low permeability. These factors are expected to drive the growth of the shotcrete market during the forecast period 2021-2028. Furthermore, extensive usage of shotcrete to construct free form structures like tunnels, reservoirs, and others are expected to create ample opportunities for the growth of the market during the forecast period. However, requirement of experienced professionals for the use of shotcrete method is expected to impede the growth of the market during the forecast period.
According to the report published by Research Dive, the global shotcrete market is expected to generate a revenue of $ $13,215.3 million by 2028, growing rapidly at a CAGR of 8.9% during the forecast period 2021-2028. The major players of the market include Normet, Mapei S.p.A., BASF SE, Sika AG, HeidelbergCement AG, Lafargeholcim Ltd., Grupo ACS, Cemex S.A.B. De C.V., GCP Applied Technologies, Vulcan Materials Company, and many more.
Key Developments of the Global Shotcrete Market
The key companies operating in the industry are adopting various growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, which is subsequently helping the global shotcrete market to grow exponentially.
For instance, in May 2019, Sika AG, a Swiss multinational specialty chemical company that supplies to the building sector and motor vehicle industry, acquired King Packaged Materials Company, a dominant independent Canadian manufacturer of dry shotcrete and mortars for concrete repair, in order to maximize Sika’s geographical extent in Canada and further create immense potential construction, mining, home improvement, and tunnelling market.
In March 2020, Putzmeister, global leader in the world of construction and mining, launched Geokret 2.0. Geokret 2.0 is the complete solution for scanning shotcrete in underground environments, enabling people to carry out shotcrete applications efficiently and intelligently, perform high-precision 3D scans in 60 sg up to 360º of the gallery. Its quick integration with the Putzmeister Geokret App makes it more seamless.
In February 2020, EMS Group, an electronic, semiconductor and medical subcontracting group that offers technology and manufacturing solutions, acquired JACON, an underground mobile concrete equipment company, in order to expand EMS Group’s opportunities in construction, mining, and civil infrastructure projects across the globe.
Most Profitable Region
The Asia-Pacific region is expected to have the fastest growth rate, surging exponentially at a CAGR of 9.5% during the forecast period. Availability of massive population in this region coupled with the rising rate of urbanization in this region is expected to drive the growth of the market. In addition, increase in the number of construction projects and repair works in this region is further expected to bolster the growth of the regional shotcrete market during the forecast period.
COVID-19 Impact on the Global Shotcrete Market
The outbreak of coronavirus has had a drastic impact on the global shotcrete market, owing to the prevalence of lockdowns in various countries across the globe. Redundant lockdowns led to the postponement or cancellation of most of the construction projects across the globe. in addition, financial recession in the construction market led to the largescale unemployment among people. Thus, COVID-19 has had a negative impact on the growth of the global shotcrete market.
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