The global Concrete Repair Mortars market is forecast to reach USD 3.65 Billion by 2027, according to a new report by Reports and Data. The market is seeing an expanded interest from the road infrastructure sectors for manual applications owing to the properties, including impermeability, tensile strength, stress immunity, and thixotropy. Moreover, they are also used to prevent corrosion of internal structural supports, resulting from unwanted water inflow. Furthermore, massive investments by the governments across various countries for the development of marine structures, long-lasting buildings, and roads is expected to drive the concrete repair mortars market. However, the rising new construction technology acts as a replacement for repair materials, which will hamper the demand for the market.
During the forecast period, the cementitious mortars are projected to be the most widely used type of concrete repair mortars, due to their lower cost compared to epoxy based mortars. They are also simple to use and can be used for structural, as well as non-structural repairs, which contributed to their market popularity. The construction industry is experiencing rapid expansion, with substantial investment from both public and private players in infrastructure projects. The growing construction maintenance sector is boosting demand for concrete repair mortars, driven by the increasing preference for maintaining and restoring old infrastructure over constructing new infrastructure from scratch. Such mortars reinforce and repair structures by guarding against deterioration, cracks, and exposure to water and chemical substances. They also exist for aesthetic fixes and network re-profiling.
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Key participants include Pidilite Industries Ltd., Fosroc International Ltd., The Euclid Chemical Company, BASF SE, Saint-Gobain Weber S.A, SIKA AG, Flexcrete Technologies Ltd., Adhesive Technology Corp., Remmers Baustofftechnik GmbH, and Mapei S.p.A., among others.
Further key findings from the report suggest
- Based on type, Epoxy-Based Mortars generated a revenue of USD 0.34 billion in 2019 and expected to grow with a CAGR of 3.1% in the forecast period, owing to its superior fundamental characteristics such as flexibility, durability, stain-proof, and are primarily used to repair cracked or broken concrete flooring, providing additional concrete strength and making it useful for a longer duration.
- The road infrastructure sectors are expected to grow with a CAGR of 4.9% in the forecasted period, as good quality roads reduce transportation time, as well as its costs. It is also necessary to periodically maintain the road infrastructure to prevent mishaps or accidents.
- The manual application is the major contributor to the market. The manual application of the Asia Pacific region is the major shareholder of the market and held around 55.7% of the market in the year 2019 as it can be used for both vertical and horizontal building repair typically used for cracks with a depth of 10–75 mm.
- The Asia Pacific dominated the market in 2019. The consistent focus of the region on cost-effective and innovative procedures adopted in the area is driving the market. The Asia Pacific area controlled approximately 36.0% of the market, followed by North America, which contains around 28.0% market in the year 2019.
The report further provides key insights into the market share held by each product and application in the Concrete Repair Mortars market. Moreover, it also offers radical information about growth prospects and patterns. It also provides extensive coverage of the product consumption of each application and product. The report also provides a pricing analysis and growth trends for the key segments of the market.
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For the purpose of this report, Reports and Data have segmented into the global Concrete Repair Mortars market on the basis of product, end-user, application, and region:
Product Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Epoxy-based mortars
End-User Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Utility Industries
- Marine Structures
- Road Infrastructure
- Buildings Car Park Constructions
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
The report explains the market share and sales volume of each company, along with the key details of the operations of these companies. The report further offers extensive coverage of their product portfolio, business expansion plans, gross profit margins, revenue contribution, investment plans, and financial standings. The report also covers the strategic alliances observed within these key companies such as mergers and acquisitions, joint ventures, corporate and government deals, partnerships and agreements, and brand promotions and product launches.
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Furthermore, the research study gives additional insights into the companies’ regional presence through extensive regional analysis. The regional analysis covers the key geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East Africa. The regional analysis segment covers details about the market share held by each region along with the prospective growth opportunities and revenue generation. The report also offers a projection of the growth rate for each region in the entirety of the forecast timeline. It also offers a country-wise analysis to impart a better understanding of the industry.
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