The Global Market For Concrete Restoration accounted for US$ 15,075 Mn in 2021 and is estimated to reach US$ 26,414 by 2030, with a significant CAGR of 6.7% from 2022 to 2030.
Concrete restoration is the act of restoring a hardened concrete surface that has lost its ability to hold the concrete materials together over time as a result of damage or exposure to the elements. Concrete is one of the most widely utilized materials in the world, from skyscrapers to roads and even parking lots. Because of its structural strength and strong fire resistance, it is one of the most durable – and consequently widely utilized – man-made materials on the planet. Concrete can be restored to its original appearance by using restoration method, which can also be utilized on sidewalks and roads. Cracks, physical impacts, chipped surfaces, and surface scaling are all good candidates for concrete restoration.One of the most significant benefits of concrete repair is that it is less expensive than constructing a new structure. Regardless, concrete repair provides any structure the look of having brand new concrete. Furthermore, it not only improves the overall appearance, but also fixes the structural flaws.
Market Growth Drivers:
· Growing pressure on existing infrastructure due to rising population
· Worsening conditions of existing infrastructure
· Growing requirement to increase the life span of existing buildings
· Heavy investments by government organizations in the construction sector
|Concrete Restoration Market
|Market Size 2021
|US$ 15,075 Mn
|Market Forecast 2030
|US$ 26,414 Mn
|6.7 % During 2022 - 2030
|2018 - 2030
|2021 - 2028
|By Material Type , By Target Application, And By Geography
|North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
|Key Companies Profiled
|BASF SE, Fosroc, Fyfe, Mapei S.p.A, Master Builders Solutions, Pidilite Industries, RPM International, Saint-Gobain Weber S.A., Sika, and The Euclid Chemical Company.
|Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
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The growing number of construction repair projects in developed and developing countries is the primary factor boosting the growth of the global concrete restoration market. Extreme temperatures, seismic changes, severe rain, and a variety of other events can cause structural damage to concrete structures. Developed nations spend a large percentage of their infrastructure budgets on repairs, replacement, and the maintenance of existing and new structures. Thus, this factor is driving the market demand from the past to the future. The worsening condition of existing infrastructure is another factor that is propelling the growth of the concrete restoration industry. For instance, after some point in time many buildings, roads, bridges, etc. get cracks on their surface, which if not restored immediately leads to a severe issue. Concrete cracks can be caused by a variety of factors, including mix design, soil substrate or existing site conditions, surface overhydration during placement, inappropriate steel placement or reinforcing, insufficient grade preparation, and inadequate joint design.
The rising population worldwide is a significant factor that is fueling the market throughout the forecasted timeframe from 2022 to 2030. Because of the high population density in many countries, the distribution of existing resources is inequitable. Existing infrastructure, such as commercial buildings, roads, bridges, and schools are overused and displaying symptoms of deterioration as a result of population growth. In addition, the growing requirement to increase the life span of existing buildings has also supported the market growth during the projected years.
However, market growth is restricted by the strict guidelines in developed countries. For instance, according to European Union guidelines, any product used for the restoration of concrete structures must comply with the European Union's EN 1504 regulation. In addition to that, the restoration industry was badly impacted by the COVID-19 pandemic. The coronavirus has wreaked havoc on global supply chains, which transfer materials and components across borders and between fabrication plants at breakneck speed. However, companies that have refocused on culture, mission, and data-driven decision-making have been able to navigate the pandemic more confidently and are ready to emerge stronger than before.
The growing investments by public and private organizations in the development of long-lasting buildings, highways, and marine structures are likely to increase infrastructure repair and maintenance activities in many countries. This, in turn, is expected to have a beneficial impact on the overall market's growth over the forecast period.
The global concrete restoration market is segmented based onmaterial type, target application, and geography.
Market by Material Type
· Fiber Concrete
· Quick Setting Cement Mortar
· Others (Concrete Bonding Agents, Grout, and Others)
Based on material type, the quick setting cement mortar segment achieved maximum market share in 2021. Concrete repair mortars' qualities, such astensile strength, impermeability, thixotropy, and stress immunity are expected to raise their demand as a key construction material over the forecast period. Quick setting cement mortar can be used to restore concrete without causing structural damage. Although it takes less time to set, the final strength is comparable to ordinary portland cement (OPC). Water-resistance is excellent in these cement kinds.Furthermore, major chemical companies are developing advanced mortar admixtures, which are predicted to improve the qualities of these repair materials.
Market by Target Application
The roads, highways, and bridgessub-segment is one of the significant structures that require concrete restoration overtime. The growing population that has led to the increasing number of light and heavy vehicles driving on road is deteriorating roads, highways, and bridges. This in turn has created numerous growth opportunities for the market. On the other hand, the marine sub-segment is likely to witness the fastest growth rate throughout the forecast period. The segment's rapid expansion can be attributed to the fact that the marine industry is subjected to a variety of extreme conditions, including physical and chemical threats.
Concrete Restoration Market Regional Overview
· Rest of Europe
· Rest of Latin America
· South Korea
· Rest of Asia-Pacific
Middle East & Africa
· South Africa
· Rest of Middle East & Africa
The rising population in Asia-Pacific boosts the regional market growth
Based on the regional segmentation, the Asia-Pacific region is likely to attain the fastest growth rate throughout the forecast timeframe 2022 - 2030. The market for the region is expanding as a result of rising population pressures on existing infrastructure, resulting in structural deterioration and increased demand for repair materials. Furthermore, mega infrastructure repair projects, such as bridges, public buildings, water structures, and pipelines have fueled the demand for concrete restoration throughout the Asia-Pacific continent. Meanwhile, North America and the European region held a significant amount of share due to the growth in aging of their buildings, bridges, dams & reservoirs, etc.
Some of the top vendors offered in the professional report include BASF SE, Fosroc, Fyfe, Mapei S.p.A, Master Builders Solutions, Pidilite Industries, RPM International, Saint-Gobain Weber S.A., Sika, and The Euclid Chemical Company.
The estimated value of global concrete restoration market in 2021 was accounted to be US$ 15,075 Mn.
The projected CAGR of concrete restoration market during the analysis period of 2022 to 2030 is 6.7%.
The prominent players of the global concrete restoration market involve BASF SE, Fosroc, Fyfe, Mapei S.p.A, Master Builders Solutions, Pidilite Industries, RPM International, Saint-Gobain Weber S.A., Sika, and The Euclid Chemical Company.
Europe held the dominating share for concrete restoration during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for concrete restoration during the analysis period of 2022 to 2030.
Growing pressure on existing infrastructure due to rising population, worsening conditions of existing infrastructure, and heavy investments by government organizations in the construction sector drives the growth of global concrete restoration market.
Based on material type, quick setting cement mortar segment held the maximum share for concrete restoration market in 2021.