New York, March 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Concrete Restoration Global Market Report 2023" - https://www.reportlinker.com/p06433661/?utm_source=GNW
, Mapei S.p.A, MBCC Group, Pidilite Industries Limited, RPM International Inc., Saint-Gobain Weber S.A., Sika AG, Simon Surfaces, Sto SE & Co. KGaA, Structural Group Inc., The Euclid Chemical Company, U-C Coatings LLC, Western Construction Group Inc., Fyfe Co LLC, Axiom Materials Inc., Normet Group Oy, Solvay S.A., Hexcel Corporation, Toray Industries Inc., Teijin Limited, Mitsubishi Chemical Holdings Corporation, SGL Carbon SE, Gurit Holding AG.
The global concrete restoration market grew from $15.23 billion in 2022 to $16.43 billion in 2023 at a compound annual growth rate (CAGR) of 7.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The concrete restoration market is expected to grow to $20.75 billion in 2027 at a CAGR of 6.0%.
The concrete restoration market includes revenues earned by entities by providing services such as restoring expansion joints, epoxy injections, polyurethane grout injections to correct cracks, gaps and natural degradation.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Concrete restoration refers to the process of repairing older concrete construction, thus restoring it to its original appearance.This process of restoration is used in a number of settings, from home construction and restoration to the restoration of sidewalks along city streets.
The concrete restoration is used for repairing old and damaged concrete.
Asia-Pacific was the largest region in the concrete restoration market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the concrete restoration market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of concrete restoration are shotcrete, quick setting cement mortar, fiber concrete, and other material types (concrete bonding agents, grout, etc.). Shotcrete refers to a method of applying concrete proposed at high velocity primarily on a vertical or overhead surface. The various applications include roads, highways, and bridges, dams and reservoirs, marine, buildings and balconies, water and wastewater treatment, and others. The different end users include residential, commercial and institutional, and Infrastructure.
The increasing number of construction repair projects is expected to propel the growth of the concrete restoration market going forward.Construction repair refers to all types of work done by laborers and mechanics employed by the sub-recipient, construction contractor, or construction subcontractor on a particular building or work.
Restoration is the process in which it will return the building to its original condition. For instance, in May 2022, according to the Office of National Statistics (ONS), a UK-based Statistics Authority, construction repairs in the UK increased by 5.5% year-on-year and seven of the nine ONS-monitored construction sectors have seen an increase in work, with only infrastructure and public new work seeing falls. Therefore, an increasing number of construction repair projects around the world will drive the concrete restoration market.
Product innovation is a key trend gaining popularity in the concrete restoration market.Major companies operating in the concrete restoration market are focused on developing new innovative solutions to strengthen their position.
For instance, in July 2022, Cementos Argos S.A., a Colombia-based company operating in concrete restoration launched the innovative and highly-specialized concrete restoration product Super UHPC (ultra-high-performance concrete) to rehabilitate deteriorated bridges and roads and construct new infrastructure. The product is made up of fibers and cementitious components that have been carefully chosen to provide it with great mechanical and lasting qualities which is helpful for the repair and rehabilitation of existing structures. This stands out because it is sold in kits that include the dry mix bags, the additive, and the fibers. By correctly combining these components using a straightforward technique, users produce a substance with distinctive properties.
In May 2021, New Mountain Capital, a US-based investment company acquired Aegion Corporation for an undisclosed amount.This acquisition would add a construction repair firm to New Mountain’s portfolio of investments and will boost the financials of Aegion Corporation.
Aegion Corporation is a US-based company operating in concrete restoration.
The countries covered in the concrete restoration market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The concrete restoration market research report is one of a series of new reports that provides concrete restoration market statistics, including concrete restoration industry global market size, regional shares, competitors with a concrete restoration market share, detailed concrete restoration market segments, market trends and opportunities, and any further data you may need to thrive in the concrete restoration industry. This concrete restoration market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06433661/?utm_source=GNW
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