Concrete Repair Mortars Market– Statistics And Analysis & Forecast To 2027

Posted by Mrudula Anil Karmarkar on January 20th, 2021

The global concrete repair mortars market size is expected to reach USD 3.6 billion by 2027 registering a CAGR of 4.7%, according to a new report by Grand View Research Inc. Economies across the globe are emphasizing on maintaining the transport infrastructure to reduce the overall transportation time and cost, thereby driving the market growth. Governments globally are increasing their infrastructure spending as a part of economic development strategies and also to cater to the transportation requirements of the rising population.

The mining industry accounts for a vital share of the global economy and is responsible for supplying key raw materials for several applications and end-use industries, thus being a key sector of focus amidst the ongoing pandemic outbreak. Mining industries in China are expected to return to normal operations by Q3 of 2020 as enterprises indicated towards the returning of their workers soon. Moreover, Iron ore producers are known to be the least impacted. Major players such as BHP and Vale reported experiencing no major influence on their operations due to the COVID-19 virus. The iron ore prices reached above USD 90 per ton amidst the pandemic situation which may negatively impact the end-use industries. The report will account for Covid19 as a key market contributor.

The aforementioned trend is likely to propel the infrastructure construction, thereby boosting the periodic maintenance activities. Hence positively impacting the repair materials market growth. In 2015, United Member states signed a 2030 Agenda for Sustainable Development that aims to significantly reduce the global number of deaths and injuries from road traffic crashes.

This initiative has made road infrastructure improvement and maintenance activity as a prime focus for the government bodies across the globe. Key market players are increasingly investing in R&D to introduce advanced concrete repair mortars with low production costs and a broader range of applications. In addition, advancements in the nanotechnology field are also supplementing these R&D activities initiated by major companies.

The global concrete repair mortars market size was estimated at USD 2.5 billion in 2020 and is expected to register a compound annual growth rate (CAGR) of 4.7 % from 2020 to 2027. Increasing investments in housing & transport infrastructure development and maintenance & renovation of existing building structures are projected to drive the market growth. The properties associated with concrete repair mortars, such as impermeability, tensile strength, stress immunity, and thixotropy, are likely to boost their demand as an important construction material over the projected period. In addition, the development of advance mortar admixtures by top chemical companies is further expected to enhance the properties of these repair materials.

Concrete Repair Mortars Market Report Highlights

  • PMC type segment is expected to register the fastest CAGR of 4.8% over the forecast period owing to superior toughness, resistance to chemicals, considerable durability, and waterproofing characteristics offered by these materials
  • Hand/troweling application method accounted for majority of the demand in 2020 on account of convenient usage and applicability in horizontal and vertical surfaces
  • Structural grade segment is expected to witness the maximum CAGR over the forecast period due to rising focus on improvement and maintenance of transport infrastructure across the globe
  • Asia Pacific was the leading regional market in 2020. It is projected to expand further at the fastest CAGR from 2020 to 2027 due to increased infrastructure spending by several governments across the region
  • Road infrastructure is estimated to be the largest end-use segment on account of high demand for road repair activities

The properties associated with concrete repair mortars, such as impermeability, tensile strength, stress immunity, and thixotropy, are likely to boost their demand as an important construction material over the projected period. In addition, the development of advance mortar admixtures by top chemical companies is further expected to enhance the properties of these repair materials.

The product is used in several areas that require concrete repair, such as structural defects in buildings on account of extreme variations in temperature. In addition, they also offer resistance against corrosion to internal structural supports, resulting from unwanted water inflow. As a result, this material prevents the degradation of the structure, thereby extending its lifespan. Moreover, this material has excellent bond strength that results in the increased structural strength of the buildings.

Heavy investments by the governments across various countries for the development of marine structures, long-lasting buildings, and roads are expected to heighten the infrastructure repair and maintenance activities. This, in turn, is projected to positively influence the growth of the overall market during the forecast period.

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Product demand is expected to rise owing to its applications in the construction industry for restoring structural strength and architectural shape of old buildings. In addition, it can be used for restarting the incomplete work of old buildings that deteriorate over time. Concrete repair mortars are widely used in high-stress applications, such as parking lots and highway bridges, owing to their high tensile strength and crack resistant properties.

Key market players are continuously improving the mortar compositions to incorporate superior properties in the repair materials. Companies, such as Saint Gobain Weber and Sika AG, are investing heavily in the synthesis of epoxy resins at low cost, to lower down the cost of epoxy-based mortars, which is considered to be a better alternative as compared to cementitious mortars. In May 2020, Sika AG acquired Parex USA, Inc. to cater to the increasing demand for this material in the urban areas of North & Central America. Some of the prominent players in the global concrete repair mortars market include:

  •         The Euclid Chemical Company
  •         Remmers Baustofftechnik GmbH
  •         Flexcrete Technologies Ltd.
  •         Saint Gobain Weber S.A.
  •         Pidilite Industries Ltd.
  •         Sika AG
  •         Fosroc, Inc.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information:www.grandviewresearch.com

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Mrudula Anil Karmarkar

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Mrudula Anil Karmarkar
Joined: July 2nd, 2020
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