Shotcrete Market
Shotcrete Market Forecasts to 2030 - Global Analysis By Process Type (Wet Mix Shotcrete and Dry Mix Shotcrete), System, Material, Equipment, Application, End User and By Geography
According to Stratistics MRC, the Global Shotcrete Market is accounted for $9.09 billion in 2024 and is expected to reach $16.28 billion by 2030 growing at a CAGR of 10.2% during the forecast period. Shotcrete is a technique that uses compressed air to spray concrete or mortar onto a surface using a high-velocity hose. There are two varieties of it: wet-mix and dry-mix. Because of its exceptional strength, endurance, and ability to stick to intricate surfaces, shotcrete is frequently used in tunnel construction, slope stabilisation, swimming pools, retaining walls, and maintenance projects. Its structural integrity and load-bearing capability can be improved by reinforcing it with steel fibres or mesh.
Market Dynamics:
Driver:
Growing infrastructure development
Shotcrete's great strength and speed of application make it essential for large-scale constructions like subways, bridges, and tunnels as well as rapid urbanisation. The material is favoured because it may improve structural stability and shorten building time. Government expenditures on transit networks and smart cities also accelerate market expansion. Furthermore, efficiency and accuracy are increased by developments in shotcrete technology, such as robotic applications. The shotcrete industry is anticipated to increase rapidly as long as infrastructure building continues.
Restraint:
Material waste & rebound loss
Excessive material loss from high rebound rates necessitates more labour and raw materials. Shotcrete is less appealing for large-scale applications as a result of this inefficiency, which also affects sustainability and profitability. Project schedules are prolonged and delays result from the requirement for reapplication because of wasted material. The disposal of extra materials exacerbates waste management issues, raising environmental concerns as well. For the market to flourish, these problems must be resolved with better admixtures and application methods.
Opportunity:
Growing demand in emerging markets
The demand for long-lasting and reasonably priced concrete solutions is increased by increased investments in tunnels, subways, and subterranean building projects. Market expansion is aided by government programs for sustainable building and smart cities. More homes and businesses are built as a result of population increase and rising disposable incomes. Robotic shotcrete application technology advances increase quality and efficiency. All things considered, shotcrete suppliers and manufacturers have a lot of prospects in rising countries.
Threat:
Volatility in raw material prices
Fluctuating prices of cement, aggregates, and admixtures create uncertainty, making it difficult for manufacturers to plan budgets. High material costs lead to increased project expenses, discouraging investment in infrastructure and construction. Price instability affects supply chain management, causing delays and shortages in material availability. Contractors and end-users face challenges in cost estimation, leading to project delays or cancellations. Ultimately, unpredictable raw material prices reduce market growth and competitiveness.
Covid-19 Impact
The COVID-19 pandemic significantly impacted the shotcrete market, disrupting supply chains, delaying construction projects, and reducing demand due to economic slowdowns. Lockdowns and labor shortages led to project postponements in sectors like infrastructure, mining, and tunneling. Additionally, fluctuating raw material prices and transportation restrictions hindered production and distribution. However, post-pandemic recovery saw increased government investments in infrastructure and underground construction, boosting market growth. The demand rebounded as economies reopened, with advancements in automation and robotic shotcrete applications enhancing efficiency and safety in construction projects worldwide.
The cementitious materials segment is expected to be the largest during the forecast period
The cementitious materials segment is expected to account for the largest market share during the forecast period by enhancing durability, strength, and adhesion in sprayed concrete applications. These materials, including Portland cement and supplementary cementitious components, improve setting time and workability, making shotcrete ideal for tunneling, mining, and infrastructure projects. Additionally, advancements in blended cement formulations enhance sustainability by lowering carbon footprints and increasing resistance to harsh environments. Growing demand for rapid construction and underground support structures further boosts the adoption of cementitious materials in the shotcrete industry.
The underground construction segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the underground construction segment is predicted to witness the highest growth rate, due to its efficiency in tunnel linings, mining, and subway projects. The method offers rapid application, reducing construction time and costs while ensuring structural stability. Increasing urbanization and infrastructure development fuel the demand for underground transportation and utility tunnels, boosting shotcrete adoption. Additionally, its superior bonding strength and durability make it ideal for reinforcing underground structures in challenging environments. Growing investments in metro rail networks, hydropower projects, and underground storage facilities further propel market expansion.
Region with largest share:
During the forecast period, the North America region is expected to hold the largest market share due to increasing demand in tunneling, mining, and infrastructure projects. The region benefits from advanced construction technologies, strict safety regulations, and rising urbanization. The U.S. and Canada drive market growth with major investments in underground construction, bridge rehabilitation, and water-retaining structures. Growing environmental concerns also boost demand for eco-friendly shotcrete solutions. Key players focus on innovation, strategic partnerships, and sustainability to strengthen their market position and cater to evolving industry needs.
Region with highest CAGR:
Over the forecast period, the Asia Pacific region is anticipated to exhibit the highest CAGR driven by rapid urbanization, infrastructure expansion, and increasing underground construction activities. Countries like China, India, and Japan are investing heavily in tunnels, subways, and mining projects, boosting shotcrete demand. Technological advancements, including robotic shotcreting and eco-friendly mixes, are further propelling market expansion. The region's construction boom, coupled with government initiatives for smart cities and resilient infrastructure, enhances market potential. Additionally, growing applications in repair and maintenance of aging structures contribute to the steady rise of the shotcrete industry across Asia-Pacific.
Key players in the market
Some of the key players profiled in the Shotcrete Market include Sika AG, BASF SE, Cemex S.A.B. de C.V., GCP Applied Technologies, LafargeHolcim Ltd., U.S. Concrete Inc., Mapei S.P.A., Normet Group, Grupo ACS, HeidelbergCement, The Conco Companies, Schnabel Geostructural Design & Construction, Putzmeister, Schwing, Liebherr, CIFA and Shotcrete Technologies Inc.
Key Developments:
In April 2024, BASF and Oriental Yuhong, a leading Chinese company in the construction waterproofing industry, signed a Memorandum of Understanding (MoU) to expand and upgrade their collaboration. This partnership aims to accelerate the development and launch of solutions for the construction industry, focusing on sustainable materials and innovative products.
In May 2023, Sika completed the acquisition of MBCC Group, a global construction chemicals company. This acquisition represents Sika's largest to date and aims to enhance efficiency, performance, and sustainability in the construction industry.
Process Types Covered:
• Wet Mix Shotcrete
• Dry Mix Shotcrete
Systems Covered:
• Robotic/Mechanized
• Manual
Materials Covered:
• Cementitious Materials
• Aggregates
• Admixtures
• Reinforcement
• Other Materials
Equipments Covered:
• General Equipment
• Auxiliary Equipment
• Special Equipment
• Other Equipments
Applications Covered:
• Underground Construction
• Inground Swimming Pool
• Water Retaining Structure
• Protective Coating
• Repair Works
• Other Applications
End Users Covered:
• Mining
• Construction & Infrastructure
• Oil & Gas
• Energy & Power
• Marine
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Shotcrete Market, By Process Type
5.1 Introduction
5.2 Wet Mix Shotcrete
5.3 Dry Mix Shotcrete
6 Global Shotcrete Market, By System
6.1 Introduction
6.2 Robotic/Mechanized
6.3 Manual
7 Global Shotcrete Market, By Material
7.1 Introduction
7.2 Cementitious Materials
7.3 Aggregates
7.4 Admixtures
7.5 Reinforcement
7.6 Other Material Types
8 Global Shotcrete Market, By Equipment
8.1 Introduction
8.2 General Equipment
8.3 Auxiliary Equipment
8.4 Special Equipment
8.5 Other Equipments
9 Global Shotcrete Market, By Application
9.1 Introduction
9.2 Underground construction
9.3 Inground swimming pool
9.4 Water retaining structure
9.5 Protective coating
9.6 Repair works
9.7 Other Applications
10 Global Shotcrete Market, By End User
10.1 Introduction
10.2 Mining
10.3 Construction & Infrastructure
10.4 Oil & Gas
10.5 Energy & Power
10.6 Marine
10.7 Other End Users
11 Global Shotcrete Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Sika AG
13.2 BASF SE
13.3 Cemex S.A.B. de C.V.
13.4 GCP Applied Technologies
13.5 LafargeHolcim Ltd.
13.6 U.S. Concrete Inc.
13.7 Mapei S.P.A.
13.8 Normet Group
13.9 Grupo ACS
13.10 HeidelbergCement
13.11 The Conco Companies
13.12 Schnabel Geostructural Design & Construction
13.13 Putzmeister
13.14 Schwing
13.15 Liebherr
13.16 CIFA
13.17 Shotcrete Technologies Inc.
List of Tables
1 Global Shotcrete Market Outlook, By Region (2022-2030) ($MN)
2 Global Shotcrete Market Outlook, By Process Type (2022-2030) ($MN)
3 Global Shotcrete Market Outlook, By Wet Mix Shotcrete (2022-2030) ($MN)
4 Global Shotcrete Market Outlook, By Dry Mix Shotcrete (2022-2030) ($MN)
5 Global Shotcrete Market Outlook, By System (2022-2030) ($MN)
6 Global Shotcrete Market Outlook, By Robotic/Mechanized (2022-2030) ($MN)
7 Global Shotcrete Market Outlook, By Manual (2022-2030) ($MN)
8 Global Shotcrete Market Outlook, By Material (2022-2030) ($MN)
9 Global Shotcrete Market Outlook, By Cementitious Materials (2022-2030) ($MN)
10 Global Shotcrete Market Outlook, By Aggregates (2022-2030) ($MN)
11 Global Shotcrete Market Outlook, By Admixtures (2022-2030) ($MN)
12 Global Shotcrete Market Outlook, By Reinforcement (2022-2030) ($MN)
13 Global Shotcrete Market Outlook, By Other Materials (2022-2030) ($MN)
14 Global Shotcrete Market Outlook, By Equipment (2022-2030) ($MN)
15 Global Shotcrete Market Outlook, By General Equipment (2022-2030) ($MN)
16 Global Shotcrete Market Outlook, By Auxiliary Equipment (2022-2030) ($MN)
17 Global Shotcrete Market Outlook, By Special Equipment (2022-2030) ($MN)
18 Global Shotcrete Market Outlook, By Other Equipments (2022-2030) ($MN)
19 Global Shotcrete Market Outlook, By Application (2022-2030) ($MN)
20 Global Shotcrete Market Outlook, By Underground construction (2022-2030) ($MN)
21 Global Shotcrete Market Outlook, By Inground swimming pool (2022-2030) ($MN)
22 Global Shotcrete Market Outlook, By Water retaining structure (2022-2030) ($MN)
23 Global Shotcrete Market Outlook, By Protective coating (2022-2030) ($MN)
24 Global Shotcrete Market Outlook, By Repair works (2022-2030) ($MN)
25 Global Shotcrete Market Outlook, By Other Applications (2022-2030) ($MN)
26 Global Shotcrete Market Outlook, By End User (2022-2030) ($MN)
27 Global Shotcrete Market Outlook, By Mining (2022-2030) ($MN)
28 Global Shotcrete Market Outlook, By Construction & Infrastructure (2022-2030) ($MN)
29 Global Shotcrete Market Outlook, By Oil & Gas (2022-2030) ($MN)
30 Global Shotcrete Market Outlook, By Energy & Power (2022-2030) ($MN)
31 Global Shotcrete Market Outlook, By Marine (2022-2030) ($MN)
32 Global Shotcrete Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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