Shotcrete Accelerator Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Shotcrete Accelerator Market Analysis
The shotcrete accelerator market is projected to register a CAGR of about 6% during the forecast period (2021-2026).
The construction industry and mining industry are some of the industries that are badly impacted by COVID-19. Because of a lack of funds, labor shortage, and lockdown regulations, many projects were halted in 2020. Due to a ban on inter-state travel, an exodus of migrant workers, also known as informal sector workers, wreaked havoc on the supply chain. This caused less consumption of construction materials and decreased demand and supply. However, the construction industry is likely to witness growth in the coming years, owing to developing economies such as China and India, thus, increasing the market for shotcrete accelerator in the construction industry. Owing to this, the market is expected to grow post-recovery.
- Over the medium term, the major factors driving the market are growing demand from the construction and infrastructure industry along with increasing demand from the mining sector.
- On the flip side, the limited performance of alkali-free shotcrete accelerators coupled with unfavorable conditions arising due to the COVID-19 outbreak is hindering the market growth.
- The Asia-Pacific region is expected to dominate the market across the globe, with the largest consumption from countries such as China and India.
Shotcrete Accelerator Market Trends
This section covers the major market trends shaping the Shotcrete Accelerator Market according to our research experts:
Growing Demand from the Construction and Infrastructure Industry
- Shotcrete accelerators are widely used in a variety of construction activities, and they are expected to be the fastest-growing market during the forecast period.
- Shotcrete, often referred to as sprayed concrete, before being sprayed, concrete is fed through a nozzle jet at high speed. The other constituents, such as water, setting accelerators, compressed air, etc., are introduced at the nozzle and are projected onto the surface where it adheres to the substrate immediately.
- Shotcrete is widely used in excavation and protective lining for tunneling, underground construction, concrete repair, restoration of buildings, slope stabilization, lightweight structures, and other applications.
- Accelerators control the setting of shotcrete after it is applied onto the substrate. The uniformity and consistency of the accelerator in the shotcrete increase the quality and stability of the structure. The chemical composition and characteristics of accelerators influence the settling of concrete.
- The global construction industry is expected to reach USD 8 trillion by 2030, primarily driven by countries such as India, China, and the United States.
- The US Census Bureau has been providing more permits for the construction of new residential buildings due to the current trend of multi-family buildings and a rise in migration to cities.
- According to US Census Bureau, construction spending in the United States in both private and public construction in 2020 was around USD 1,400 billion.
- Due to rapid urbanization and the increasing population in emerging economies, the growing need for infrastructure activities is expected to drive the market for the shotcrete accelerator during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the shotcrete accelerator market during the forecast period, due to an increase in demand from countries like China and India.
- The Indian government allocated USD 63 billion for the infrastructure sector in 2019-20, and it is planning to spend USD 1.4 trillion over the next five years. Furthermore, the construction industry in India received a major boost by the investment of USD 1.4 billion through private equity and venture capital investments during October 2019.
- Globally, India is the second-largest producer of coal with around 730 million metric ton of coal in FY 2019 and the fourth-largest in iron ore with 187 million metric ton in FY 2019. According to the Ministry of Mines, India has the seventh-largest bauxite reserves in the world.
- Moreover, according to the National Development and Reform Commission of China, the Chinese government approved 26 infrastructure projects at an estimated investment of about USD 142 billion in 2019, which are expected to be completed by 2023. The growing infrastructure investment and building of complex structures are expected to drive the market for a shotcrete accelerator.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for the shotcrete accelerator market in the Asia-Pacific during the forecast period.
Shotcrete Accelerator Industry Overview
The shotcrete accelerator market is partially fragmented, with players accounting for a marginal share of the market. Few companies include Sika AG, MBCC Group, CHRYSO India, MAPEI SpA, and The Euclid Chemical Company, among others.
Shotcrete Accelerator Market Leaders
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CHRYSO India
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MAPEI S.p.A.
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The Euclid Chemical Company
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Sika AG
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MBCC Group
*Disclaimer: Major Players sorted in no particular order
Shotcrete Accelerator Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Growing Demand from the Construction and Infrastructure Industry
- 4.1.2 Increasing Demand from the Mining Sector
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4.2 Restraints
- 4.2.1 Limited Performance of Alkali-free Shotcrete Accelerators
- 4.2.2 Unfavourable Conditions Arising Due to the COVID-19 Outbreak
- 4.3 Industry Value Chain Analysis
-
4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
-
5.1 State
- 5.1.1 Liquid
- 5.1.2 Powder
-
5.2 Mixing Process
- 5.2.1 Wet
- 5.2.2 Dry
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5.3 Type
- 5.3.1 Alkali-free
- 5.3.2 Alkaline Aluminate-based
- 5.3.3 Alkaline Silicate-based
- 5.3.4 Other Types
-
5.4 Application
- 5.4.1 Construction and Infrastructure
- 5.4.2 Mining
- 5.4.3 Other Applications
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5.5 Geography
- 5.5.1 Asia-Pacific
- 5.5.1.1 China
- 5.5.1.2 India
- 5.5.1.3 Japan
- 5.5.1.4 South Korea
- 5.5.1.5 Rest of Asia-Pacific
- 5.5.2 North America
- 5.5.2.1 United States
- 5.5.2.2 Canada
- 5.5.2.3 Mexico
- 5.5.3 Europe
- 5.5.3.1 Germany
- 5.5.3.2 United Kingdom
- 5.5.3.3 Italy
- 5.5.3.4 France
- 5.5.3.5 Rest of Europe
- 5.5.4 South America
- 5.5.4.1 Brazil
- 5.5.4.2 Argentina
- 5.5.4.3 Rest of South America
- 5.5.5 Middle-East and Africa
- 5.5.5.1 Saudi Arabia
- 5.5.5.2 South Africa
- 5.5.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis** /Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Alumichem AS
- 6.4.2 MBCC Group
- 6.4.3 CHRYSO India
- 6.4.4 CICO Group
- 6.4.5 DRACO Italiana SpA
- 6.4.6 Industrias Químicas del Ebro SA
- 6.4.7 JE Tomes
- 6.4.8 Mapei SpA
- 6.4.9 Maplad
- 6.4.10 MC-Bauchemie
- 6.4.11 MUHU (China) Construction Materials Co. Ltd
- 6.4.12 Sika AG
- 6.4.13 Target Products Ltd
- 6.4.14 The Euclid Chemical Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Growing Investments in Infrastructure from Emerging Economies
Shotcrete Accelerator Industry Segmentation
The shotcrete accelerator market is segmented by state, mixing process, type, application, and geography. By state, the market is segmented into liquid and powder. By the mixing process, the market is segmented into wet and dry. By type, the market is segmented into alkali-free, alkaline aluminate-based, alkaline silicate-based, and others. By application, the market is segmented into construction and infrastructure, mining, and others. The report also covers the market size and forecasts for the shotcrete accelerator market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
| State | Liquid | |
| Powder | ||
| Mixing Process | Wet | |
| Dry | ||
| Type | Alkali-free | |
| Alkaline Aluminate-based | ||
| Alkaline Silicate-based | ||
| Other Types | ||
| Application | Construction and Infrastructure | |
| Mining | ||
| Other Applications | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Shotcrete Accelerator Market Research FAQs
What is the current Shotcrete Accelerator Market size?
The Shotcrete Accelerator Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Shotcrete Accelerator Market?
CHRYSO India, MAPEI S.p.A. , The Euclid Chemical Company, Sika AG and MBCC Group are the major companies operating in the Shotcrete Accelerator Market.
Which is the fastest growing region in Shotcrete Accelerator Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Shotcrete Accelerator Market?
In 2024, the Asia Pacific accounts for the largest market share in Shotcrete Accelerator Market.
What years does this Shotcrete Accelerator Market cover?
The report covers the Shotcrete Accelerator Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Shotcrete Accelerator Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Shotcrete Accelerator Industry Report
Statistics for the 2024 Shotcrete Accelerator market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Shotcrete Accelerator analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
