Shotcrete Market - Insights, Opportunity Analysis, and Industry Forecast till 2025

Shotcrete is a technique used to pneumatically spray concrete through a hose at high velocity onto the surface. Factors such as growing underground construction activities such as tunneling and mining activities and rampant growth in infrastructure development are factors expected to boost growth of the shotcrete market during the forecast period (2017–2025). Robotic system segment is expected to dominate the shotcrete market over the forecast period and is expected to expand at a CAGR of 9.3% in terms of volume. According to a study conducted by Coherent Market Insights, the global robotic system market is projected to reach over 4,137.25 TCM by the end of 2017.

The global shotcrete market size was valued at US$ 5,612.73 million and 19,140.94 TCM in 2016 and is expected. The market is expected to expand at a CAGR of 8.1% in terms of revenue and 8.3% in terms of volume during 2017 – 2025.

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Process Insights

Among process, wet-mix process segment accounts for the largest share in the shotcrete market. During the process, cement mixture is mixed with water initially. Then, this mixture is sprayed through a nozzle, where air and shotcrete accelerators are added. The wet-mix process segment is projected to expand at a CAGR of 9.8% over the forecast period, owing to its wide application in underground constructions, water retaining structures, and protective coatings. Moreover, due to its high efficiency and efficient timing, it is largely used in robotic equipment. In dry-mix process, cement, admixtures, and aggregate are mixed at a specified ratio without water and then, it is sprayed through a high velocity nozzle over the substrate. However, lack of skilled labor and effective transportation facilities are expected to hamper growth of the global shotcrete market over the forecast period.

Growing underground constructions activities, to boost the market growth

Europe, followed by Asia Pacific and North America, respectively, accounted for major share in the global shotcrete market both in terms of revenue and volume in 2016 and the trend is expected to remain the same over the forecast period. In 2016, Europe held a share of 36.75% in terms of volume, followed by Asia Pacific (25.85%). The growing infrastructure development activities in Asia Pacific to support burgeoning population creates a highly conducive environment for growth of the market. The recent past has witnessed a spurt in tunneling activities, rapid urbanization and growing deployment of metro rail projects, especially in Asia Pacific. According to a study conducted by Coherent Market Insights, the global underground construction market is expected to witness a CAGR of 8.2% from 2017 to 2025 which in turn is expected to fuel growth of the global shotcrete market.

Multinational players need to tap potential addressable market in the emerging regions with the help of geographical expansion

Major players in the global Shotcrete market include BASF SE, Heidelberg Cement, Grupo ACS, Lafargeholcim, Cemex, Sika AG, GCP Applied Technologies, U.S. Concrete, Mapei, and Normet. Among others.

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