Market Size of Shotcrete Accelerator Industry
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 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 |
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Shotcrete Accelerator Market Size Summary
The shotcrete accelerator market is poised for significant growth, driven by the resurgence of the construction and mining industries following the disruptions caused by the COVID-19 pandemic. The pandemic led to project delays and supply chain issues, particularly affecting the construction and mining sectors. However, as these industries recover, particularly in developing economies like China and India, the demand for shotcrete accelerators is expected to rise. These accelerators play a crucial role in enhancing the quality and stability of shotcrete applications, which are widely used in various construction activities such as tunneling, underground construction, and slope stabilization. Despite challenges such as the limited performance of alkali-free accelerators, the market is anticipated to expand, with the Asia-Pacific region, especially China and India, leading the charge due to their robust infrastructure development plans.
The global construction industry, with its projected growth, is a significant driver for the shotcrete accelerator market. The increasing urbanization and infrastructure needs in emerging economies are expected to further propel market demand. In the Asia-Pacific region, government investments in infrastructure and the construction of complex structures are key factors contributing to market growth. Countries like India and China are at the forefront, with substantial government allocations and approvals for infrastructure projects. The market is characterized by a fragmented landscape with several key players, including Sika AG, MBCC Group, CHRYSO India, MAPEI SpA, and The Euclid Chemical Company, who hold a marginal share. These companies are poised to benefit from the growing demand for shotcrete accelerators as the construction and mining sectors continue to expand.
Shotcrete Accelerator Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Demand from the Construction and Infrastructure Industry
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1.1.2 Increasing Demand from the Mining Sector
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1.2 Restraints
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1.2.1 Limited Performance of Alkali-free Shotcrete Accelerators
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1.2.2 Unfavourable Conditions Arising Due to the COVID-19 Outbreak
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 State
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2.1.1 Liquid
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2.1.2 Powder
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2.2 Mixing Process
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2.2.1 Wet
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2.2.2 Dry
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2.3 Type
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2.3.1 Alkali-free
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2.3.2 Alkaline Aluminate-based
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2.3.3 Alkaline Silicate-based
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2.3.4 Other Types
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2.4 Application
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2.4.1 Construction and Infrastructure
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2.4.2 Mining
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2.4.3 Other Applications
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2.5 Geography
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2.5.1 Asia-Pacific
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2.5.1.1 China
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2.5.1.2 India
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2.5.1.3 Japan
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2.5.1.4 South Korea
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2.5.1.5 Rest of Asia-Pacific
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2.5.2 North America
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2.5.2.1 United States
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2.5.2.2 Canada
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2.5.2.3 Mexico
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2.5.3 Europe
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2.5.3.1 Germany
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2.5.3.2 United Kingdom
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2.5.3.3 Italy
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2.5.3.4 France
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2.5.3.5 Rest of Europe
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2.5.4 South America
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2.5.4.1 Brazil
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2.5.4.2 Argentina
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2.5.4.3 Rest of South America
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2.5.5 Middle-East and Africa
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2.5.5.1 Saudi Arabia
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2.5.5.2 South Africa
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2.5.5.3 Rest of Middle-East and Africa
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Shotcrete Accelerator Market Size 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.