The global concrete restoration market size is estimated to be USD 15.0 billion in 2021 and is projected to reach USD 20.4 billion by 2026, at a CAGR of 6.2%. The high growth of concrete restoration can be attributed to the growing number of construction repair projects globally due to the rising population, rapid urbanization, and increased economic growth in some regions. Emerging markets like China, the UAE, and India are showing remarkable growth due to the aforementioned factors. This has been a decisive factor in the concrete restoration market growth, especially in regions like North America and Europe, where concrete restoration products’ usage is relatively high. By 2026, many new companies will emerge from China, having low-cost concrete restoration products and, thus, offer heavy competition to the existing market players.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=198206216
Concrete Restoration Applications:
Concrete restoration applications involve repairing and rejuvenating deteriorated or damaged concrete structures to extend their lifespan and enhance functionality. This process addresses issues like cracks, spalling, and corrosion, often caused by environmental factors, aging, or structural stress. Various techniques, such as surface cleaning, crack repair, and protective coatings, are employed to restore structural integrity. Concrete restoration is crucial in maintaining safety, aesthetics, and durability in infrastructure like bridges, buildings, and highways. The growing need for sustainable and cost-effective solutions in construction has amplified the importance of concrete restoration. Factors driving this market include aging infrastructure, increased awareness of maintenance, and a focus on preserving existing structures.
Based on material type, the concrete restoration market is segmented into shotcrete, quick setting cement mortar, concrete fiber, and others. Quick setting cement mortar dominated the concrete restoration market in terms of value. This market is divided into water & wastewater treatment, dams & reservoirs, roads, highways & bridges, marine, buildings & balconies, and others based on target applications. Roads, highways & bridges dominated the concrete restoration market in terms of value.
Based on target application, the marine application is projected to register the highest CAGR, in terms of value, during the forecast period. The concrete used in the marine industry is exposed to numerous harsh conditions, including physical and chemical attacks. The projected growth shows that most target applications will grow at a high CAGR from 2021–2026, overcoming the adverse effects of global lockdowns and economic standstill caused by the COVID–19 pandemic.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=198206216
Based on Region, The Asia Pacific is expected to witness the highest growth at a CAGR of 7.2% between 2021 and 2026. The increasing economic growth and rapid increase in population are expected to boost the concrete restoration market in this region significantly. In terms of value, Europe is the second-largest market for concrete restoration worldwide and is projected to witness a CAGR of 5.9% during the forecast period.
Concrete Restoration Companies:
Major players such as Sika (Switzerland), Mapei S.p.A (Italy), Master Builders Solutions (Germany), Fosroc (UAE), BASF SE (Germany), Pidilite Industries (India), RPM International (US), Fyfe (US), Saint-Gobain Weber S.A. (France), and The Euclid Chemical Company (UK), among others, have framed their strategies to penetrate and create bases in the emerging markets.
Moreover, major companies are focusing on strengthening their R&D facilities to provide efficient and sustainable products. These products are manufactured adhering to regulations implemented by associations and governments. All such developments are expected to lead to the sustainable development of players in the concrete restoration market over the next five years.
