Concrete Repair Mortars Market worth $4.0 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, March 8, 2022 /PRNewswire/ -- According to the new market research report "Concrete Repair Mortars Market by Type (PMC and Epoxy Based),Application Method (Hand/Trawling, Spraying, Pouring), End-use Industry (Buildings & Car parks, Road Infrastructure, Utility, Marine), Grade and Region - Global Forecast to 2026", published by MarketsandMarkets™, the Concrete Repair Mortars Market is projected to grow from USD 2.6 billion in 2021 to USD 4.0 billion by 2026, at a CAGR of 8.7%. The use of concrete repair mortars strengthens the buildings and increase their life span. They also helps in saving costs for new construction in the process. In addition, governments are concerned about the deteriorating state of their infrastructure, which is expected to lead them to invest more in the market during the forecast period.
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Polymer modified cementitious (PMC) mortars is the larger used type in the concrete repair mortars market.
The polymer modified cementitious mortars are expected to be the most commonly used type of concrete repair mortars during the forecast period. The growth is attributed to their lower cost in comparison to epoxy based mortars. The polymer modified cementitious mortars are also easy to use and can be used for both structural and non-structural repairs, which has added to their popularity in the market.
Structural is the faster-growing grade segment of concrete repair mortars.
Structural is the faster-growing grade in the market during the forecast period. The repair mortars used in the structural repair of the building are called structural grade mortars. These mortars are primarily used in the buildings & carparks, roads, industries, and marine infrastructure. Builders are more concerned about structural damages than non-structural damages. The structural damages can be fatal for the structures if they are not periodically maintained. Most of the aging buildings and bridges are likely to have structural damages. These factors are expected to drive the growth of the structural grade concrete repair mortars during the forecast period.
Road infrastructure to be the fastest-growing end-use industry of the concrete repair mortars market between 2021 and 2026.
On the basis of end-use industry, the road infrastructure segment is projected to register the highest CAGR during the forecast period. Road infrastructure includes roads, walkways, bridges & tunnels, and cycling infrastructure. It is essential for countries to maintain their road infrastructure as they are of prime importance for transportation of goods. Good quality roads reduce the time spent on transportation, and also its cost. The periodic maintenance of road infrastructure is also necessary to prevent mishaps or accidents. These factors will drive the growth in road infrastructure during the forecast period.
Hand/trawling application method segment is projected to register the highest CAGR during the forecast period.
On the basis of application method, the hand/trawling method of application is projected to register the highest CAGR during the forecast period. It is a popular method of application due to its ease of usage and can be applied on both vertical and horizontal surfaces. It is effective for both structural and non-structural repair. It is generally used for cracks having a repair depth of 10–75 mm.
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APAC accounted for the largest share in the global concrete repair mortars market.
APAC is estimated to be the largest and the fastest-growing market of concrete repair mortars. The high growth rate of the market in the region is due to the high population growth, which is putting pressure on the existing infrastructure in the countries. Also, the fast rate of construction and use of lower quality building materials in infrastructure leads to faster repairs. The major countries covered in the region are China, Japan, India, Australia, and South Korea. India is projected to be the fastest-growing market for concrete repair mortars during the forecast period due to the heavy rate of construction in the country.
The key companies profiled in the concrete repair mortars market report are Sika AG (Switzerland), osroc International Ltd. (UK), MBCC (Germany), Mapei SpA (Italy),Saint-Gobain Weber SA (France), Pidilite Industries Ltd. (India), Flexcrete Technologies Ltd. (UK), Remmers Baustofftechnik GmbH (Germany), The Euclid Chemical Co. (UK), and Adhesive Technology Corp. (US).
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