Product Code: GVR-4-68040-244-5
Shotcrete Market Growth & Trends:
The global shotcrete market size is expected to reach USD 15.49 billion by 2030 and is projected to grow at a CAGR of 8.2% from 2024 to 2030, according to a new report by Grand View Research, Inc.The market is anticipated to grow on account of increasing investments in infrastructural projects around the world such as dams, roads, bridges, tunnels, and underground structures. The product is a preferred building material as it can support complex shapes, making it suitable for infrastructural applications.
Moreover, the growing mining and tunneling sectors are primary end use industries of shotcrete where it is used for rock reinforcement, ground support, and tunnel lining. The growing demand for transport systems, including underground metro systems around developing economies such as India and China is expected to boost the product demand over the forecast period.
Infrastructure repair and maintenance is one of the major applications of shotcrete, as it is used to repair and maintain aging infrastructure and transportation networks. The product also serves as a material for structural repairs and waterproofing, as well as for corrosion prevention in bridges and tunnels, thereby boosting the product demand.
Shotcrete is also considered an eco-friendly construction material, as it uses fewer resources, produces less waste, and has a lower carbon footprint than conventional concrete construction. As sustainability plays an increasing role in the construction industry, the eco-friendly characteristics of the product are driving its market growth.
Maintaining consistent quality and performance of the product can be challenging, especially in large scale projects or adverse environmental conditions. Moreover, even though shotcrete is more energy efficient and minimizes wastage than traditional concrete, there are still environmental concerns regarding dust emissions, energy usage, and wastewater disposal during its manufacturing process. These factors are expected to hamper the industry growth.
The global market is highly competitive, with several market players competing on the basis of technology advancement, product quality, price, and distribution network. In addition, regional and local players around the world also contribute a significant share of global market. Continuous investment in research and development, strategic partnerships, and expansion into emerging markets are essential strategies for companies to maintain their competitive edge in the global market.
Shotcrete Market Report Highlights:
- Based on processes, the wet mix segment led the market with the largest revenue share of 61.3% in 2023. Wet mix shotcrete offers better workability, reduced dust generation, improved adhesion, and a consistent mixture of shotcrete. The major application areas of wet mix are mining and tunneling, slope stabilization, and structural repair
- Based on application, the underground construction segment led the market with the largest revenue share of more than 35% in 2023. The shotcrete is widely used for lining tunnels in underground transportation projects such as subways, road tunnels, and railways. Moreover, it is used for construction of underground caverns for storing equipment, materials, or waste products as it provides structural support and also stabilizes the surrounding rock mass
- Based on application, the repair works segment also accounted for the largest revenue share of the market in 2023, due to extensive use of shotcrete for repairing concrete structures, pipelines, stormwater drainage systems, and marine systems. Shotcrete is a durable, cost-effective, and rapid solution for restoring damaged structures across various sectors
- Europe dominated the market with the largest revenue share of 36.20% in 2023, owing to substantial investment in urban infrastructural development projects. The region's robust use of shotcrete in underground construction, slope stabilization, and surface protection is expected to further boost the Process demand over the forecast period. Moreover, Europe is a hub for technological innovation and research in construction industry. European companies invest in R&D initiatives to develop advanced shotcrete materials, thereby boosting the process demand
- The market showcases high product substitution such as traditional concrete, prefabricated concrete, reinforced masonry, and other building materials. Depending on project needs, cost of project, and performance requirements, the end users may opt for any of the building materials, which can affect its product demand.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definitions
- 1.3. Information Procurement
- 1.3.1. Information Analysis
- 1.3.2. Market Formulation & Data Visualization
- 1.3.3. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List To Data Sources
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Shotcrete Market Variables, Trends & Scope
- 3.1. Market Lineage/Ancillary Outlook
- 3.2. Industry Value Chain Analysis
- 3.2.1. Sales Channel Trends
- 3.3. Technological Overview
- 3.4. Regulatory Framework
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.1.1. Increasing Demand from the Construction Sector
- 3.5.1.2. Growing Underground Tunnel Activities
- 3.5.2. Market Restraint Analysis
- 3.5.2.1. Environmental Issues
- 3.5.3. Market Opportunity Analysis
- 3.5.4. Market Challenges Analysis
- 3.6. Porter's Five Forces Analysis
- 3.7. PESTLE by SWOT Analysis
- 3.8. Market Disruption Analysis
Chapter 4. Shotcrete Market: Process Estimates & Trend Analysis
- 4.1. Key Takeaways
- 4.2. Process Movement Analysis & Market Share, 2023 & 2030
- 4.3. Shotcrete Market Estimates & Forecast, by Process, 2018 - 2030 (USD Billion)
- 4.3.1. Wet Mix
- 4.3.1.1. Wet Mix Shotcrete Market Estimates & Forecast, 2018 - 2030 (USD Billion)
- 4.3.2. Dry Mix
- 4.3.2.1. Dry Mix Shotcrete Market Estimates & Forecast, 2018 - 2030 (USD Billion)
Chapter 5. Shotcrete Market: Application Estimates & Trend Analysis
- 5.1. Key Takeaways
- 5.2. Application Movement Analysis & Market Share, 2023 & 2030
- 5.3. Shotcrete Market Estimates & Forecast, by Application, 2018 - 2030 (USD Billion)
- 5.3.1. Repair Works
- 5.3.1.1. Shotcrete Market Estimates & Forecast, in Repair Work, 2018 - 2030 (USD Billion)
- 5.3.2. Underground Construction
- 5.3.2.1. Shotcrete Market Estimates & Forecast, in Underground Construction, 2018 - 2030 (USD Billion)
- 5.3.3. Slope & Surface Protection
- 5.3.3.1. Shotcrete Market Estimates & Forecast, in Slope & Surface Protection, 2018 - 2030 (USD Billion)
- 5.3.4. New Surface Structures
- 5.3.4.1. Shotcrete Market Estimates & Forecast, in New Surface Structures, 2018 - 2030 (USD Billion)
- 5.3.5. Other Applications
- 5.3.5.1. Shotcrete Market Estimates & Forecast, in Other Applications, 2018 - 2030 (USD Billion)
Chapter 6. Shotcrete Market: Region Estimates & Trend Analysis
- 6.1. Key Takeaways
- 6.2. Regional Market Share Analysis, 2023-2030
- 6.3. North America
- 6.3.1. North America Shotcrete Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.3.2. North America Shotcrete Market Estimates & Forecasts, by Process, 2018 - 2030 (USD Billion)
- 6.3.3. North America Specialty Shotcrete Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.3.4. U.S.
- 6.3.4.1. U.S. Shotcrete Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.3.4.2. U.S. Shotcrete Market Estimates & Forecasts, by Process, 2018 - 2030 (USD Billion)
- 6.3.4.3. U.S. Specialty Shotcrete Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.3.5. Canada
- 6.3.5.1. Canada Shotcrete Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.3.5.2. Canada Shotcrete Market Estimates & Forecasts, by Process, 2018 - 2030 (USD Billion)
- 6.3.5.3. Canada Specialty Shotcrete Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.3.6. Mexico
- 6.3.6.1. Mexico Shotcrete Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.3.6.2. Mexico Shotcrete Market Estimates & Forecasts, by Process, 2018 - 2030 (USD Billion)
- 6.3.6.3. Mexico Specialty Shotcrete Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.4. Europe
- 6.4.1. Europe Shotcrete Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4.2. Europe Shotcrete Market Estimates & Forecasts, by Process, 2018 - 2030 (USD Billion)
- 6.4.3. Europe Specialty Shotcrete Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.4.4. UK
- 6.4.4.1. UK Shotcrete Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4.4.2. UK Shotcrete Market Estimates & Forecasts, by Process, 2018 - 2030 (USD Billion)
- 6.4.4.3. UK Specialty Shotcrete Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.4.5. Germany
- 6.4.5.1. Germany Shotcrete Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4.5.2. Germany Shotcrete Market Estimates & Forecasts, by Process, 2018 - 2030 (USD Billion)
- 6.4.5.3. Germany Specialty Shotcrete Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.4.6. France
- 6.4.6.1. France Shotcrete Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4.6.2. France Shotcrete Market Estimates & Forecasts, by Process, 2018 - 2030 (USD Billion)
- 6.4.6.3. France Specialty Shotcrete Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.4.7. Italy
- 6.4.7.1. Italy Shotcrete Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4.7.2. Italy Shotcrete Market Estimates & Forecasts, by Process, 2018 - 2030 (USD Billion)
- 6.4.7.3. Italy Specialty Shotcrete Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.4.8. Spain
- 6.4.8.1. Spain Shotcrete Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4.8.2. Spain Shotcrete Market Estimates & Forecasts, by Process, 2018 - 2030 (USD Billion)
- 6.4.8.3. Spain Specialty Shotcrete Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.5. Asia Pacific
- 6.5.1. Asia Pacific Shotcrete Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.5.2. Asia Pacific Shotcrete Market Estimates & Forecasts, by Process, 2018 - 2030 (USD Billion)
- 6.5.3. Asia Pacific Specialty Shotcrete Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.5.4. China
- 6.5.4.1. China Shotcrete Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.5.4.2. China Shotcrete Market Estimates & Forecasts, by Process, 2018 - 2030 (USD Billion)
- 6.5.4.3. China Specialty Shotcrete Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.5.5. India
- 6.5.5.1. India Shotcrete Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.5.5.2. India Shotcrete Market Estimates & Forecasts, by Process, 2018 - 2030 (USD Billion)
- 6.5.5.3. India Specialty Shotcrete Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.5.6. Japan
- 6.5.6.1. Japan Shotcrete Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.5.6.2. Japan Shotcrete Market Estimates & Forecasts, by Process, 2018 - 2030 (USD Billion)
- 6.5.6.3. Japan Specialty Shotcrete Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.5.7. Australia
- 6.5.7.1. Australia Shotcrete Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.5.7.2. Australia Shotcrete Market Estimates & Forecasts, by Process, 2018 - 2030 (USD Billion)
- 6.5.7.3. Australia Specialty Shotcrete Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.6. Central & South America
- 6.6.1. Central & South America Shotcrete Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.6.2. Central & South America Shotcrete Market Estimates & Forecasts, by Process, 2018 - 2030 (USD Billion)
- 6.6.3. Central & South America Specialty Shotcrete Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.6.4. Brazil
- 6.6.4.1. Brazil Shotcrete Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.6.4.2. Brazil Shotcrete Market Estimates & Forecasts, by Process, 2018 - 2030 (USD Billion)
- 6.6.4.3. Brazil Specialty Shotcrete Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.7. Middle East & Africa
- 6.7.1. Middle East & Africa Shotcrete Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.7.2. Middle East & Africa Shotcrete Market Estimates & Forecasts, by Process, 2018 - 2030 (USD Billion)
- 6.7.3. Middle East & Africa Specialty Shotcrete Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.7.4. Saudi Arabia
- 6.7.4.1. Saudi Arabia Shotcrete Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.7.4.2. Saudi Arabia Shotcrete Market Estimates & Forecasts, by Process, 2018 - 2030 (USD Billion)
- 6.7.4.3. Saudi Arabia Specialty Shotcrete Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
Chapter 7. Shotcrete Market - Supplier Intelligence
- 7.1. Kraljic Matrix
- 7.2. Engagement Model
- 7.3. Negotiation Strategies
- 7.4. Sourcing Best Practices
- 7.5. Vendor Selection Criteria
- 7.6. List of Raw Material Suppliers
Chapter 8. Shotcrete Market - Competitive Landscape
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Company Categorization
- 8.3. Company Market Position Analysis, 2023
- 8.4. Company Heat Map Analysis
- 8.5. Strategy Mapping, 2023
- 8.6. Company Profiles
- 8.6.1. Sika AG
- 8.6.1.1. Participant's Overview
- 8.6.1.2. Financial Performance
- 8.6.1.3. Process Benchmarking
- 8.6.1.4. Recent Developments
- 8.6.2. Grupo ACS
- 8.6.2.1. Participant's Overview
- 8.6.2.2. Financial Performance
- 8.6.2.3. Process Benchmarking
- 8.6.2.4. Recent Developments
- 8.6.3. BASF SE
- 8.6.3.1. Participant's Overview
- 8.6.3.2. Financial Performance
- 8.6.3.3. Process Benchmarking
- 8.6.3.4. Recent Developments
- 8.6.4. Heidelbergcement
- 8.6.4.1. Participant's Overview
- 8.6.4.2. Financial Performance
- 8.6.4.3. Process Benchmarking
- 8.6.4.4. Recent Developments
- 8.6.5. Cemex S.A.B. De C.V.
- 8.6.5.1. Participant's Overview
- 8.6.5.2. Financial Performance
- 8.6.5.3. Process Benchmarking
- 8.6.5.4. Recent Developments
- 8.6.6. GCP Applied Technologies
- 8.6.6.1. Participant's Overview
- 8.6.6.2. Financial Performance
- 8.6.6.3. Process Benchmarking
- 8.6.6.4. Recent Developments
- 8.6.7. U.S. Concrete Inc
- 8.6.7.1. Participant's Overview
- 8.6.7.2. Financial Performance
- 8.6.7.3. Process Benchmarking
- 8.6.7.4. Recent Developments
- 8.6.8. Lafargeholcim Ltd.
- 8.6.8.1. Participant's Overview
- 8.6.8.2. Financial Performance
- 8.6.8.3. Process Benchmarking
- 8.6.8.4. Recent Developments