According to Custom Market Insights (CMI), the global shotcrete market size was estimated at USD 6.35 billion in 2021 and is expected to hit around USD 12.8 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 8.0 % from 2022 to 2030.
Shotcrete is also identified as gunite concrete applied by spraying and exhibits in wet and dry mix concrete that is pneumatically propelled at high velocity through a hose and nozzle that does not require conventional forming. Generally, shotcrete is a mixture of aggregate and Portland cement, conveyed by compressed air to the nozzle of a spray gun, where water is added. It has a wide range of applications in various end-use industries, including building & construction, underground construction, residential, commercial, and others. In addition, shotcrete material makes the building structure less porous, which increases the bond strength and helps lower the construction time and costs. The shotcrete system reduces installed costs and optimizes mix designs in installation and mining projects.
Browse the full “Shotcrete Market Size, Trends and Insights By Technique (Wet Mix, Dry Mix), By System (Manual, Robotic Spraying), By Application (Underground Construction, Inground Swimming Pool, Water Retaining Structure, Protective Coating, Repair Works), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” report at https://www.custommarketinsights.com/report/shotcrete-market/
Market Dynamics
Market Drivers
Shotcrete is preferred over conventional concrete because of its low volatile organic content. Shotcrete is used extensively in construction as it is resistant to corrosion, scratch, chemical spill, and others. For instance, according to an article published by Invest India in the year July 2022, the construction industry is expected to reach $1.4 trillion by 2025. Furthermore, advancement in shotcrete technology and the available raw material has spurred the usage of spray shotcrete. These factors are anticipated to increase the demand for shotcrete in the construction sector.
Market Restraints
However, unfamiliarity with the technology and lack of awareness regarding shotcrete methods and techniques will affect the overall market growth. For instance, in the North American region, there are still several states in the U.S. and Provinces in Canada where the technology is almost unknown. Part of this is a lack of familiarity with structural engineers.
Opportunities
Proliferating growth of the residential and commercial sector has witnessed significant growth in the shotcrete market. The growing population has arisen the need for building and construction activity which is significantly increased the overall demand for sprayed shotcrete due to its ease of operation. These factors are increasing the demand for the shotcrete market in the upcoming years. Moreover, the shotcrete market growth is boosted owing to the increase in underground, inground construction activities and mining activities across the globe, thus, creating lucrative opportunities for the market.
Challenges
The high installation and machine costs will be challenging in the shotcrete market. In response to this, the lack of skilled labor and technical knowledge regarding the installation of the shotcrete technique will restrain the overall market.
Segmental Highlights
Based on technique, the segment includes wet mix and dry mix. The wet mix segment dominated the market in 2021 and is expected to grow over the forecast period. In the wet mix, shotcrete ingredients, including water, are mixed before the delivery hose, and compressed air is introduced to the material flow at the nozzle. Furthermore, the water holding capacity in the wet mix is more than in the dry mix, and the wet-mix method provides more control over the shotcrete mix, reducing rebound compared to the dry-mix method. These factors are escalating the demand for the wet mix shotcrete segment during the forecast period.
The segment includes underground construction, inground swimming pool, water retaining structure, protective coating, and repair works based on application. The increase in underground construction activities, rise in economic development, urbanization, a surge in underground transport, government initiation and investment in the construction activity, rise in shotcrete technological efficiency, and increase in mining and tunneling activities drive the overall market growth.
Based on the system, the global shotcrete market is studied as manual and robotic spraying. The global robotic spraying system segment is expected to dominate from 2022 to 2030. Robotic spraying dominates the shotcrete market and is expected to remain the dominant segment during the forecast period.
Robotic spraying offers various advantages over a manual system. The demand for robotic shotcrete technique is driving the market growth owing to the use of mechanized equipment with robotic arm offers various advantages, including a high-quality mixture with linear support. This is because in a robotic or mechanized wet mix, spraying the water to cement ratio is automatically controlled by a robotic arm that provides high strength. In response to this, robotic spraying requires less workforce, due to which it can work with two workers compared to the manual spraying system. These factors are escalating the overall growth of robotic spraying systems in the shotcrete market.
Regional Insights
Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Europe is the dominant region in the shotcrete market. Countries such as Germany, France, Russia, the U.K., and others have contributed significantly to the growth of the shotcrete market in the region.
Key factors for the growth in Europe are growing building and construction activities, repair works, tunnel projects, mining & extraction. For instance, according to an article published by Putzmeister in 2022, Cross rail is a new railway link that will dramatically cut traveling times within London and is currently Europe’s largest infrastructure project with a total price tag of £14.8 billion. These factors enhance the shotcrete techniques and system during the forecast period.
Moreover, China’s bridge, tunnel, and construction activity are expected to grow at a rapid pace owing to the rapid increase in population, industrialization, urbanization, and government support for the construction sector has spurred the overall market growth. For instance, according to an article published by IBIS World in the year March 2022, the bridge, tunnel, and subway construction industry in China has been growing rapidly over the past five years, where industry revenue is expected to rise at an annualized 9.7% over the five years through 2022.
In addition, Industry firms are set to generate $1.6 trillion in 2022. The industry is generally profitable as the government controls many construction enterprises, particularly large-scale firms, and assists firms with preferable policies.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 6.35 Billion |
| Projected Market Size in 2030 | USD 12.8 Billion |
| CAGR Growth Rate | 8.0% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Prominent Players | BASF SE, Sika AG, HeidelbergCement AG, Cemex S.A.B. de C.V., KPM Industries Ltd, Euclid Chemical Company, LKAB Berg & Betong AB, Quikrete Companies Inc., U.S. Concrete, Inc., LafargeHolcim, Normet Group, GCP Applied Technologies, Cemex S.A.B. De C.V., Mapei S.P.A., Grupo ACS, and Others |
| Key Segment | By Technique, System, Application, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Key Market Players in the Shotcrete Market
- BASF SE
- Sika AG
- HeidelbergCement AG
- Cemex S.A.B. de C.V.
- KPM Industries Ltd
- Euclid Chemical Company
- LKAB Berg & Betong AB
- Quikrete Companies Inc.
- S. Concrete, Inc.
- LafargeHolcim
- Normet Group
- GCP Applied Technologies
- Cemex S.A.B. De C.V.
- Mapei S.P.A.
- Grupo ACS
Segments Covered In the Report
By Technique
- Wet Mix
- Dry Mix
By System
- Manual
- Robotic Spraying
By Application
- Underground Construction
- Inground Swimming Pool
- Water Retaining Structure
- Protective Coating
- Repair Works
On the basis of Geography
North America
- The U.S.
- Canada
- Mexico
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America