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 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- BASF SE
- Sika AG
- HeidelbergCement AG
- Cemex S.A.B. de C.V.
- Others
Reports Description
According to a report published by Custom Market Insights (CMI), the global shotcrete market size was estimated at USD 6.35 billion in 2021 and is expected to reach USD 7.15 billion in 2022, 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.
Growth Factors
The growing use of shotcrete in building & construction sectors will aid the market growth.
Shotcrete material is very agile because it is widely used in repair and construction activities. In response to this, increasing demand from the building & construction sector is one of the key factors responsible for the growth of the global shotcrete market.
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.
Furthermore, proliferating growth of the residential and commercial sectors 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, ground construction, and mining activities across the globe.
Shotcrete Market: Segmental Insights
Segmented based on Technique
The shotcrete market is segmented into the wet and dry mix depending on the Technique.
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.
Furthermore, the wet mix shotcrete technique is preferred over the dry mix owing to its various benefits, such as controlling water content, easy spraying, and adding mixtures per design requirements during the mix preparation. These factors are coupled together to enhance the demand for the wet mix shotcrete technique.
The segment based on the Application
Based on Application, the global shotcrete market is studied as underground construction, inground swimming pool, water retaining structure, protective coating, and repair works. It is expected that the global underground constructions segment to hold a dominant position during 2022 -2030.
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.
Furthermore, underground space development is susceptible to extreme geological conditions, harmful gas outbursts, high-ground stress, and rock bursts. Shotcrete is a well-known method for installing permanent structural lining for non-uniform surfaces in underground construction. In addition, shotcrete excels in tunnel applications since conventional methods require the use of heavy structures, including steel, that has limited flexibility. This is anticipated to increase the demand for the shotcrete market in the underground construction segment.
Moreover, shotcrete usage in underground construction has increased because contractors can install it more quickly and efficiently than traditional cast-in-place concrete systems and advancements in technology and ease of operation will boost the market growth.
The segment on the basis of the System
Based on the System, the global shotcrete market is studied as manual and robotic spraying. It is expected that the global robotic spraying system segment to hold a dominant position during 2022 -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.
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. |
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.
Furthermore, the utilization of shotcrete has increased in the sectors such as building & construction, and others are key market trends in the North American region.
Shotcrete techniques have been used widely for decades for various applications, including new construction, infrastructure rehabilitation, ground support, support for underground openings, and many others. For instance, according to a report published by Mining engineering in June 2021, the underground subway project will extend the Metro Purple Line from its terminus in Korea town to Westwood/V.A. Hospital in West Los Angeles. Section 1 is expected to be completed in2023, Section 2 in 2025, and Section 3 in 2027. These ongoing activities in North America boost the overall shotcrete market.
Moreover, China’s bridge, tunnel, and construction activity are expected to grow rapidly. 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.
Key Market Players in the Shotcrete Market
- BASF SE
- Sika AG
- HeidelbergCement AG
- Cemex S.A.B. de C.V.
- K.P.M. 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
COVID-19 Analysis
The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. The guidelines and policies of the logistics and supply chain of the shotcrete products were affected remarkably.
In addition, the falling income of customers has led to a contraction in demand for shotcrete products from building and construction, underground construction, inground swimming pool, water retaining structure, protective coating, repair works, and other end-use industries during the COVID-19 period. Moreover, declining sales in the building and construction sector during 2020 have halted the growth of the shotcrete market. However, the vaccination programs and lifting of lockdowns are expected to propel the shotcrete market growth in 2021.
In addition, as the restrictions imposed due to lockdowns are being lifted in the fourth quarter of the pandemic, the building & construction, repair works, underground & tunnel construction, and the manufacturing sector is expected to recover soon owing to the record of a shotcrete production unit in both developed and developing economies.
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
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- 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
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global Shotcrete Market, (2022 – 2030) (USD Billion)
- 2.2 Global Shotcrete Market: snapshot
- Chapter 3. Global Shotcrete Market – Industry Analysis
- 3.1 Shotcrete Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Growing use of shotcrete in building & construction sectors
- 3.2.2 Advancement in shotcrete technology
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Technique
- 3.7.2 Market attractiveness analysis By System
- 3.7.3 Market attractiveness analysis By Application
- Chapter 4. Global Shotcrete Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Shotcrete Market: company market share, 2021
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Shotcrete Market – Technique Analysis
- 5.1 Global Shotcrete Market overview: By Technique
- 5.1.1 Global Shotcrete Market share, By Technique, 2021 and 2030
- 5.2 Wet Mix
- 5.2.1 Global Shotcrete Market by Wet Mix, 2022 – 2030 (USD Billion)
- 5.3 Dry Mix
- 5.3.1 Global Shotcrete Market by Dry Mix, 2022 – 2030 (USD Billion)
- 5.1 Global Shotcrete Market overview: By Technique
- Chapter 6. Global Shotcrete Market – System Analysis
- 6.1 Global Shotcrete Market overview: By System
- 6.1.1 Global Shotcrete Market share, By System, 2021 and 2030
- 6.2 Manual
- 6.2.1 Global Shotcrete Market by Manual, 2022 – 2030 (USD Billion)
- 6.3 Robotic Spraying
- 6.3.1 Global Shotcrete Market by Robotic Spraying, 2022 – 2030 (USD Billion)
- 6.1 Global Shotcrete Market overview: By System
- Chapter 7. Global Shotcrete Market – Application Analysis
- 7.1 Global Shotcrete Market overview: By Application
- 7.1.1 Global Shotcrete Market share, By Application, 2021 and 2030
- 7.2 Underground Construction
- 7.2.1 Global Shotcrete Market by Underground Construction, 2022 – 2030 (USD Billion)
- 7.3 Inground Swimming Pool
- 7.3.1 Global Shotcrete Market by Inground Swimming Pool, 2022 – 2030 (USD Billion)
- 7.4 Water Retaining Structure
- 7.4.1 Global Shotcrete Market by Water Retaining Structure, 2022 – 2030 (USD Billion)
- 7.5 Protective Coating
- 7.5.1 Global Shotcrete Market by Protective Coating, 2022 – 2030 (USD Billion)
- 7.6 Repair Works
- 7.6.1 Global Shotcrete Market by Repair Works, 2022 – 2030 (USD Billion)
- 7.1 Global Shotcrete Market overview: By Application
- Chapter 8. Shotcrete Industry – Regional Analysis
- 8.1 Global Shotcrete Industry Regional Overview
- 8.2 Global Shotcrete Industry Share, by Region, 2021 & 2030 (USD Billion)
- 8.3. North America
- 8.3.1 North America Shotcrete Industry, 2022 – 2030 (USD Billion)
- 8.3.1.1 North America Shotcrete Industry, by Country, 2022 – 2030 (USD Billion)
- 8.3.1 North America Shotcrete Industry, 2022 – 2030 (USD Billion)
- 8.4 North America Shotcrete Industry, by Technique, 2022 – 2030
- 8.4.1 North America Shotcrete Industry, by Technique, 2022 – 2030 (USD Billion)
- 8.5 North America Shotcrete Industry, by System, 2022 – 2030
- 8.5.1 North America Shotcrete Industry, by System, 2022 – 2030 (USD Billion)
- 8.6 North America Shotcrete Industry, by Application, 2022 – 2030
- 8.6.1 North America Shotcrete Industry, by Application, 2022 – 2030 (USD Billion)
- 8.7. Europe
- 8.7.1 Europe Shotcrete Industry, 2022 – 2030 (USD Billion)
- 8.7.1.1 Europe Shotcrete Industry, by Country, 2022 – 2030 (USD Billion)
- 8.7.1 Europe Shotcrete Industry, 2022 – 2030 (USD Billion)
- 8.8 Europe Shotcrete Industry, by Technique, 2022 – 2030
- 8.8.1 Europe Shotcrete Industry, by Technique, 2022 – 2030 (USD Billion)
- 8.9 Europe Shotcrete Industry, by System, 2022 – 2030
- 8.9.1 Europe Shotcrete Industry, by System, 2022 – 2030 (USD Billion)
- 8.10 Europe Shotcrete Industry, by Application, 2022 – 2030
- 8.10.1 Europe Shotcrete Industry, by Application, 2022 – 2030 (USD Billion)
- 8.11. Asia Pacific
- 8.11.1 Asia Pacific Shotcrete Industry, 2022 – 2030 (USD Billion)
- 8.11.1.1 Asia Pacific Shotcrete Industry, by Country, 2022 – 2030 (USD Billion)
- 8.11.1 Asia Pacific Shotcrete Industry, 2022 – 2030 (USD Billion)
- 8.12 Asia Pacific Shotcrete Industry, by Technique, 2022 – 2030
- 8.12.1 Asia Pacific Shotcrete Industry, by Technique, 2022 – 2030 (USD Billion)
- 8.13 Asia Pacific Shotcrete Industry, by System, 2022 – 2030
- 8.13.1 Asia Pacific Shotcrete Industry, by System, 2022 – 2030 (USD Billion)
- 8.14 Asia Pacific Shotcrete Industry, by Application, 2022 – 2030
- 8.14.1 Asia Pacific Shotcrete Industry, by Application, 2022 – 2030 (USD Billion)
- 8.15. Latin America
- 8.15.1 Latin America Shotcrete Industry, 2022 – 2030 (USD Billion)
- 8.15.1.1 Latin America Shotcrete Industry, by Country, 2022 – 2030 (USD Billion)
- 8.15.1 Latin America Shotcrete Industry, 2022 – 2030 (USD Billion)
- 8.16 Latin America Shotcrete Industry, by Technique, 2022 – 2030
- 8.16.1 Latin America Shotcrete Industry, by Technique, 2022 – 2030 (USD Billion)
- 8.17 Latin America Shotcrete Industry, by System, 2022 – 2030
- 8.17.1 Latin America Shotcrete Industry, by System, 2022 – 2030 (USD Billion)
- 8.18 Latin America Shotcrete Industry, by Application, 2022 – 2030
- 8.18.1 Latin America Shotcrete Industry, by Application, 2022 – 2030 (USD Billion)
- 8.19. The Middle-East and Africa
- 8.19.1 The Middle-East and Africa Shotcrete Industry, 2022 – 2030 (USD Billion)
- 8.19.1.1 The Middle-East and Africa Shotcrete Industry, by Country, 2022 – 2030 (USD Billion)
- 8.19.1 The Middle-East and Africa Shotcrete Industry, 2022 – 2030 (USD Billion)
- 8.20 The Middle-East and Africa Shotcrete Industry, by Technique, 2022 – 2030
- 8.20.1 The Middle-East and Africa Shotcrete Industry, by Technique, 2022 – 2030 (USD Billion)
- 8.21 The Middle-East and Africa Shotcrete Industry, by System, 2022 – 2030
- 8.21.1 The Middle-East and Africa Shotcrete Industry, by System, 2022 – 2030 (USD Billion)
- 8.22 The Middle-East and Africa Shotcrete Industry, by Application, 2022 – 2030
- 8.22.1 The Middle-East and Africa Shotcrete Industry, by Application, 2022 – 2030 (USD Billion)
- Chapter 9. Company Profiles
- 9.1 BASF SE
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 Sika AG
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 HeidelbergCement AG
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 Cemex S.A.B. de C.V.
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 KPM Industries Ltd
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 Euclid Chemical Company
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 LKAB Berg & Betong AB
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 Quikrete Companies Inc.
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 U.S. Concrete Inc.
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 LafargeHolcim
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.11 Normet Group
- 9.11.1 Overview
- 9.11.2 Financials
- 9.11.3 Product Portfolio
- 9.11.4 Business Strategy
- 9.11.5 Recent Developments
- 9.12 GCP Applied Technologies
- 9.12.1 Overview
- 9.12.2 Financials
- 9.12.3 Product Portfolio
- 9.12.4 Business Strategy
- 9.12.5 Recent Developments
- 9.13 Cemex S.A.B. De C.V.
- 9.13.1 Overview
- 9.13.2 Financials
- 9.13.3 Product Portfolio
- 9.13.4 Business Strategy
- 9.13.5 Recent Developments
- 9.14 Mapei S.P.A.
- 9.14.1 Overview
- 9.14.2 Financials
- 9.14.3 Product Portfolio
- 9.14.4 Business Strategy
- 9.14.5 Recent Developments
- 9.15 Grupo ACS
- 9.15.1 Overview
- 9.15.2 Financials
- 9.15.3 Product Portfolio
- 9.15.4 Business Strategy
- 9.15.5 Recent Developments
- 9.1 BASF SE
List Of Figures
Figures No 1 to 25
List Of Tables
Tables No 1 to 77
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Key Market Players in the Shotcrete Market
FAQs
The “Europe” region will lead the global Shotcrete market during the forecast period 2022 to 2030.
The shotcrete material is a very agile material owing to which it is widely used in repair and construction activities. In response to this, increasing demand from the building & construction sector acts as one of the key factors responsible for the growth of the global shotcrete market.
The key players operating in the Shotcrete market are 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.
The global Shotcrete market is expanding growth with a CAGR of approximately 7.0% during the forecast period (2022 to 2030).
The global Shotcrete market size was valued at USD 5.85 billion in 2021 and it is projected to reach around USD 10.9 billion by 2030.