NEW YORK, June 13, 2022 (GLOBE NEWSWIRE) -- The global concrete restoration market size is projected to grow at a CAGR of above 6% during the projected years and reach a value of around US$ 26,414 Mn by 2030.
The deterioration of old buildings, roads, bridges, and dams & reservoirs will create robust demand for the concrete restoration players operating globally. If a structure has served for 25 to 30 years without much maintenance or repair, it is realistic to suppose that it will require some work. Earthquake/wind effects also cause structural damage. Weathering and aging effects and poor maintenance and care are the primary reasons behind deterioration. Many poorly built and constructed buildings, on the other hand, are discovered to be in deprived structural and general health conditions, necessitating extensive structural repairs. This premature deterioration is primarily caused by poor building quality, improper design, and a failure to make timely repairs. The incorrect design of the structure, improper construction or concreting practices, and water leaks leading to corrosion of concrete and reinforcement are just a few of the leading causes of structural deterioration.
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Covid-19 Impact on the Global Concrete Restoration Industry
The impact of the COVID-19 pandemic was felt by a significant number of concrete restoration companies in diverse ways, and they are now focusing on long-term growth. Concrete restoration companies are expected to see significant prospects in the short term because the global concrete restoration and other chemicals sectors play such an important part in countries' economic recovery.
Report Coverage:
| Market | Concrete Restoration Market |
| Market Size 2021 | US$ 15,075 Mn |
| Market Forecast 2030 | US$ 26,414 Mn |
| CAGR (2022 - 2030) | Over 6% |
| Analysis Period | 2018 - 2030 |
| Base Year | 2021 |
| Forecast Data | 2022 - 2030 |
| Segments Covered | By Material Type, By Target Application, By Region |
| Regional Scope | 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 |
| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
| Customization Scope | 10 hrs of free customization and expert consultation |
Global Concrete Restoration Market Growth Factors
As energy prices have risen and constructing and operating budgets have been severely limited, the real estate industry has been enforced to pay more interest to the infrastructure's life-cycle repercussions. Building maintenance is sometimes overlooked, but when done correctly, it may save money and resources. Concrete restoration helps in renovation of areas such as road and infrastructure, maritime structures, and utilities. It aids in the renovation and restoration of old structures that have deteriorated over time owing to numerous environmental variables. Moreover, it aids in the restoration of old structures' architectural structure and stability.
Concrete restoration can also be used to finish unfinished work on old buildings that have deteriorated over time. Because of their high tensile strength and crack resistance, restorations are commonly employed in high-stress applications such as parking lots and highway bridges. On the other hand, the strict regulation in developed countries for the use of cementing materials is one of the major restraints for the market growth.
Furthermore, increasing expenditure in restoration industry to save important architectural landmarks is likely to fuel the growth of the market throughout the forecast period 2022 – 2030.
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Global Concrete Restoration Market Segments
The concrete restoration market is divided into three categories: material type, target application, and geography. Based on material type, the market is split into fiber concrete, shotcrete, quick setting cement mortar, and other (grout, concrete bonding agents, etc.). Based on our analysis, the quick setting cement mortar segment generated the maximum share in 2021. Quick setting cement, often known as early strength concrete, has a cement formula/content that permits concrete to attain 90 percent strength in three days rather than the usual seven. Thus, when compared to typical cement systems, it is a specific cement formula that creates a quick compressive strength and considerably minimizes the waiting on cement (WOC) period.
Based on the target application segment, the market is split into roads, highways, and bridges, dams & reservoirs, marine, buildings & balconies, water & wastewater treatment, and others (industrial facilities, parking structures, and others). In 2021, the road, highways and bridges segment achieved a substantial market share. Governments all around the world are working to improve their transportation infrastructure in order to reduce overall transportation costs and time. Meanwhile, the marine segment achieved the fastest CAGR throughout the projected years. Maritime operations, which supply natural resources as well as access to transportation and trade, have emerged as key drivers of economic expansion. As a result, some economies are focusing their efforts on strengthening their marine infrastructure in order to boost their economic growth potential.
Concrete Restoration Market Regional Stance
North America, Latin America, Europe, Asia-Pacific, the Middle East, and Africa are covered under the regional category. Among all the regions, Asia-Pacific gathered a significant amount of share in 2021 and is the fastest growing region during the projected period 2022 to 2030. The primary factor boosting the growth of the Asia-Pacific concrete restoration market is the growing population of China and India. The concrete structures in these nations are becoming overburdened as the population grows. North America is expected to rise significantly as well. The US president planned to spend almost USD 2 trillion in 2019 to repair the country's outdated infrastructure. This proposal is anticipated to cost more than a trillion dollars to restore damaged roads, bridges, and highways.
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Major Players
The concrete restoration industry involves many key players. The top players presented in the 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.
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