Concrete, Repair

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03.01.2023 - 14:02:00

Concrete Repair Mortars Market Is Expected to Grasp the Value of USD 5.74 Billion with Growing CAGR of 8.34% by 2029 | Brandessence Market Research

was worth USD 3.28 billion in 2022. It is anticipated to amass a valuation of USD 5.74 billion by 2029, registering a CAGR of 8.34% over the forecast duration of 2022-2029.

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Concrete repair mortars are referred to as the type of entities which are predominantly used to repair damaged concrete structures. These components also provide concrete structures complete protection from chemical anchoring, cracking, and corrosion. There are three primary types of concrete repair mortars namely, epoxy based and cementitious repair mortars. These mortars are equipped with the ability to store the moisture content of a structure making it lesser prone to untimely cracks. They further enhance the tensile strength of concrete entities while increasing their bond strength.

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Global Concrete Repair Mortars Market Outlook (2022-2029)

The increasing number of construction activities worldwide, booming real estate sector, and widespread population expansion are primarily augmenting the outlook of this business vertical.

Further, growing R&D activities in the field, rapid industrialization, and increasing installations of renewable energy generation units are adding momentum to the progression of this industry sphere.

Moreover, rise in the number of brick-based projects like walkway construction along with increasing government investments to facilitate the development of roads, bridges, and marine structures, among others are creating lucrative opportunities for this market to prosper.

Alongside, surge in renovation and restoration activities across the globe and prompt urbanization are aiding the expansion of Global Concrete Repair Mortars Market.

On the contrary, presence of substitute products and technologies in the market is hindering the remuneration scope of this business vertical.

The outbreak of the COVID-19 pandemic had a major impact on the construction sector. Due to lockdown impositions and travel bans, there was a massive shortage of raw materials. Moreover, owing to mobility restrictions, most of the construction activities were halted for a long period of time. Apart from that, the restoration and renovation activities pertaining to various infrastructure were stalled until the restrictions were lifted. This in turn decreased the demand for concrete repair mortars, thereby hampering the overall market progression.

Competitive Hierarchy

The prominent players characterizing the competitive terrain of Global Concrete Repair Mortars Market are MC-Bauchemie, The Euclid Chemical Company, Remmers Limited, Ronacrete Ltd, Master Builders Inc., Fosroc Inc., Sika AG, Flexcrete Technologies Ltd, Dayton Superior Corporation., MAPEI S.p.A., Saint-Gobain Weber, Pidilite Industries Ltd., Adhesives Technology Corporation, and W. R. Meadows Inc.

These companies are  trying to improve their market position by partaking in activities such as mergers & acquisitions, R&D investments, collaborations, and partnerships, among others.

Segmental Outlook

By Type:

Epoxy-basedPolymer Modified Cementitious (PMC)

By Application:

SprayingHand/TrowelingPouring

By Grade:

Non-StructuralStructural

By End-Use:

UtilityBuilding & Car parksRoad InfrastructureMarine

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Region-Wise Insights

Which is the leading region in the market?

Asia Pacific is presently leading the market in terms of volume share. This is attributable to the widespread population expansion, increasing building renovation and restoration activities, rising smart city projects, along with surging R&D investments in the field.

How is Europe faring in this business sphere?

Europe has emerged as one of the fastest growing regions in this industry. This is ascribed to the booming  construction industry, widespread urbanization, increase in government based construction projects, and rising disposable income of the masses.

Category-Wise Insights

Which is the most dominant type segment in the Global Concrete Repair Mortars Market?

The Polymer Modified Cementitious (PMC) segment currently dominates the industry in terms of revenue share owing to the superior properties offered by these mortars. These characteristics include toughness, waterproofing durability, and high resistance to chemical ingress.

Which is the fastest growing application segment in this business sphere?

The hand/troweling segment has emerged as one of the most rapidly evolving segments since this method can be used to facilitate both vertical and horizontal building repairs.

Which grade segment is expected to amass notable gains over 2022-2030?

The structural segment is anticipated to generate significant returns by 2030 due to the growing prevalence of structural damage in old buildings and bridges.

Which is the leading end use segment in the industry?

The road infrastructure segment is presently leading the market. This is credited to the rising focus of government bodies to enhance the road infrastructure of their respective nations so as to ease transportation activities and reduce the chances of road mishaps.

Comparing the historical outlook and ongoing trends of this market

A number of growth propellants have been influencing the ongoing trends of this business sphere over the last few years.

Existing infrastructure a witnessing massive pressure due to the widespread population expansion. With increasing population accommodation and travel needs are also surging drastically. Infrastructure such as roads, bridges, residential societies, commercial complexes, and water supply systems, among others in various nations have started deteriorating since they are being overburdened. Many fatal incidents involving untimely infrastructural collapse have been recorded across various regions. This has necessitated the use of repair entities to enhance the strength of existing buildings and prevent cracks along with other signs of damage. These factors are bolstering the growth of Global Concrete Repair Mortars Market.

Due to rising environmental concerns, growing instances of fossil fuel depletion, and surging government efforts to encourage the use of sustainable energy sources, there has been a steep rise in the number of renewable energy-based power generation units. These power generation infrastructures require proper maintenance so that they function without facing any major issues. This in turn is stimulating the overall dynamics of this industry.

On Special Requirement Concrete Repair Mortars Market Report is also available for below region:

North America

U.S, Canada

Europe

Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

Major Developments

In May 2019, Sika AG announced the acquisition of Parex USA to diversify its concrete repair mortar portfolio.

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