Shotcrete Market by Process (Wet Mix and Dry Mix), Application (Underground Construction, New Structures, Repair Works, and Slope & Surface Protection), Technique (Robotic and Manual), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028

Global Shotcrete Market Analysis

The global shotcrete market accounted for $6,685.2 million in 2020 and is predicted to grow with a CAGR of 8.9%, by generating a revenue of $13,215.3 million by 2028.

Market Synopsis

Shotcrete market is gaining huge popularity owing to rapid surge in construction activities such as development of smart cities, metropolis, industrialization, bridges, and underground structures. Shotcrete also known as sprayed concrete is an efficient technique of spraying concrete onto free form surfaces and complex structures such as tunnels. Various benefits offered by shotcrete process incudes durability, high tensile strength, low permeability, thermal efficiency, and fire retardation. It is commonly used in repair works for repair of fire and earthquake damage and deteriorated surfaces, encasing structural steel for fireproofing, and strengthening walls.  
However, the requirement of skilled labors for the use of shotcrete technique is estimated to hamper the sprayed concrete market. Improper use of shotcrete can lead to development of cracks that can damage the surface.

According to regional analysis, the Asia-Pacific shotcrete market accounted for $2,456.8 million in 2020 and is predicted to grow with a CAGR of 9.5% in the projected timeframe.

Shotcrete Overview

Shotcrete or sprayed concrete is a method of applying concrete at a high velocity on to a vertical or overhead surface. Shotcrete offers similar hardened properties as that of conventional cast-in-place concrete. However, shotcrete is more efficient as the placement process results in formation of excellent bond with an ability to form complex shapes and forms. Shotcrete is more economical than traditional concrete process as it requires less formwork, less labor, and requires small portable plant for manufacturing and placement. Shotcrete is durable and versatile process as the velocity at which the mixture is sprayed, drives particles into every crevice on the receiving surface that results in mass typically making it durable & long-lasting than other methods.

COVID-19 Impact on the Shotcrete Market

The global crisis caused by COVID-19 pandemic negatively impacted the economy affecting the global trade. COVID-19 pandemic has affected various industries and shotcrete market has experienced negative impact owing to financial recession in construction industry that has led to unemployment and postponement or cancellation of construction projects. This impact is being faced by various countries hit by the pandemic creating uncertainty and unrest. The diversion of government budgets towards healthcare sector has brought construction projects to a standstill. In social distancing norms, import-export restrictions have led to non-availability of raw materials and shortage of labors. The workers are unable to reach their transportation sites due to lockdown imposed in various parts of country. Hence, operational restrictions and disrupted supply chains have negatively impacted the shotcrete market size during the pandemic.  

Various company initiatives to protect the stakeholders and the employees during pandemic are helping the society to recover from chaotic situation. For instance, LafargeHolcim, the leading Swiss multinational company that manufactures building materials, has taken initiatives such as protecting the health and wellbeing of staff and their families via awareness, medical preparedness, and training. This initiative has facilitated continuity in business operations via proactive supply chain management. In January 2020, the company formed Business Resilience Teams at group and country levels that incorporates expertise in HR, operations, health & safety, procurement, IT, legal, security, and resilience for monitoring and reporting the preparedness level of the organization.

Efficiency Offered by the Shotcrete Process to Drive the Market Growth

High efficiency offered by the shotcrete process as it is economical since it requires less formwork compared to conventional concrete method is estimated to drive the shotcrete demand. In shotcrete process the cement content is high which makes it more durable. Shotcrete process offers resistance to freezing and thawing. This is because wet mix shotcrete with mixture of 8 to 12% air content generates air-zero system in place. Shotcrete offers sustainability as it contains higher percentage of recycled material and presence of high thermal mass, which helps in the development of energy-efficient structures. In addition, shotcrete eliminates the need for engineered concrete footings for one-sided wall bracing due to which no formwork is required. Also, this process facilitates architectural creativity which is otherwise price prohibitive or infeasible.  

To know more about global shotcrete market drivers, get in touch with our analysts here.

Requirement of Skilled Labor is Predicted to Hamper the Market Growth

Shotcrete requires skilled operator or nozzleman for the concrete spraying process to obtain the maximum efficiency as the water to cement ratio must be maintained accurately. The presence of excess water can compromise the quality of concrete that leads to reduced strength and durability which is estimated to restrain the shotcrete market share. 

Application of Shotcrete for the Development of Free Form Structures to Generate Huge Opportunities

Shotcrete is widely used method for construction of free form surfaces that are difficult to construct using conventional cast-in-place concrete technique. The construction of thin overhead vertical or horizontal surface such as canal, reservoir, tunnel lining, or folded sections is estimated to drive the shotcrete market demand. In addition, it is also used on stabilization of rock slopes, construction of prestressed tanks, water retaining structures, and swimming pools. Shotcrete plays a vital role in offering protection against long-term corrosion of piling, steel building frames, oil tanks, coal bunker as well as for encasing structural steel for fireproofing. It is also used in high temperature applications such as refractory lining of chimneys, furnaces, and kilns.    

To know more about global shotcrete market opportunities, get in touch with our analysts here.

Source: Research Dive Analysis

The wet mix sub-type is anticipated to have a dominant market share and generate a revenue of $10,581.5 million by 2028, growing from $5,209.1 million in 2020. In wet mix process, the water content is controlled more precisely as wet mix process involves mixing all the ingredients with required water content. Spraying operation is easy as the mix is prepared before. In this process, the admixtures can be added as per the design requirement and air consumed is less. Wet mix process offers high strength as it has less water to cement ratio compared to the poured concrete. Due to this, wet mix process has high compressive strength and dense compaction is achieved by high velocity of application. The bond strength provided by wet mix process is high as the aggregate mixture is properly prepared and enhanced adhesion is achieved.

Source: Research Dive Analysis

The underground construction sub-segment is anticipated to have a dominant market share and generate a revenue of $7,472.4 million by 2028, growing from $3621.1 million in 2020. Shotcrete is widely used process in the underground construction as concrete spraying can be done from a safe distance. The underground space development is susceptible to extreme geological conditions, harmful gas outbursts, high ground stress, and rock bursts. Shotcrete is a popular method for the installation of permanent structural lining for non-uniform surfaces in underground construction. In addition, shotcrete excels in tunnel applications as conventional methods require the use of heavy structures such as steel that has limited flexibility.  

Source: Research Dive Analysis

The robotic sub-segment is anticipated to have a dominant market share and generate a revenue of $8,897.2 million by 2028, growing from $4,347.0 million in 2020. The demand for robotic shotcrete technique such as the use of mechanized equipment with robotic arm offers various advantages such as high-quality mixture with homogenous support. This is because in robotic or mechanized wet mix, spraying the water to cement ratio is automatically controlled by the robotic arm that provides high strength. Robotic shotcrete offers energy savings as one robotic arm of sprayed concrete offers same performance as that of three machines having same power and requirements. It requires less manpower as robotic technique can be operated by two workers compared to manual concrete spraying that requires more workers. Also, the spraying output with the robotic arm is high compared to the manual spraying.    

Source: Research Dive Analysis

The Market for Shotcrete in Asia-Pacific to be the Most Dominant and Fastest Growing

The Asia-Pacific shotcrete market accounted $2,456.8 million in 2020 and is projected to grow with a CAGR of 9.5%. Asia-Pacific shotcrete market share is driven by rapid urbanization, population growth, and upcoming infrastructure projects. For instance, Indian government has taken various initiatives to boost the developments in construction sector. The Smart Cities Mission launched by Indian government promotes the development of cities to build clean and sustainable infrastructure along with giving decent quality of life to their citizens. Similarly, Pradhan Mantri Awas Yojana, aims at providing housing to all by 2022 which was launched in June 2015. Similarly, to boost the economic growth in China, the Chinese government is investing heavily in the large infrastructure projects. For instance, as stated on February 4, 2019, in the South China Morning Post, the Hong Kong based English language newspaper, the National Development and Reform Commission (NDRC), the state planning and development commission of China, has approved 27 infrastructure projects with total estimated investment of $219.4 billion. This includes the rail projects in Chengdu, Zhengzhou, Kunming, Chongqing, and Xian along with the expansion of Xianyang International Airport. As shotcrete is widely used in new construction projects as well as in repair works, it is estimated to drive the market demand.

Competitive Scenario in the Global Shotcrete Market

Product launch and acquisition are common strategies followed by major market players.

Source: Research Dive Analysis

Some of the leading shotcrete market players are BASF SE, HeidelbergCement AG, Grupo ACS, Lafargeholcim Ltd., Cemex S.A.B. De C.V., Sika AG, GCP Applied Technologies, Vulcan Materials Company, Mapei S.p.A., and Normet.

Porter’s Five Forces Analysis for the Global Shotcrete Market:

• Bargaining Power of Suppliers: The bargaining power of suppliers is high as the shotcrete manufacturers are dependent on the raw material suppliers for procuring cement, sand, stone, and aggregates for shotcrete process. 
  Thus, the bargaining power of suppliers is high.
• Bargaining Power of Buyers: The bargaining power of buyers is moderate as shotcrete is commonly used technique nowadays for various construction activities across the world. Hence, buyers have various option to choose the shotcrete provider considering per cubic meter price of shotcrete. 
  Thus, buyer’s bargaining power will be moderate.
• Threat of New Entrants: The threat of new entrants is low as shotcrete manufacturers have to adhere to the government regulations regarding harmful emissions from cement and they need to focus on sustainable development strategies. In addition, large capital investment is required for setting up the manufacturing plant. 
  Thus, the threat of the new entrants is low.
• Threat of Substitutes: The availability of substitute technique such as conventional cast-in-place concrete, gunite may affect the market growth. However, shotcrete is efficient, reduces the labor cost, and helps in timely completing of construction projects due to which conventional concrete spraying technique does not have major impact on the market. 
  Thus, the threat of substitutes is moderate.
• Competitive Rivalry in the Market: The companies operating in this market are focusing on adopting innovative technologies such as mechanized sprayed concrete technique, business expansion, and acquisition. 
  Therefore, competitive rivalry in the market is moderate.