Concrete Restoration Market will Possibly Surpass a Value of US$ 20.4 Billion by 2026, at a CAGR of 6.2%- Says MarketsandMarkets™
Concrete restoration is the process of repairing or restoring concrete surfaces that have been damaged by wear, weather, or other causes. This can include repairing cracks, restoring worn surfaces, and replacing deteriorated concrete. The demand for concrete restoration services is increasing as buildings age, and more people become aware of the importance of preventive maintenance to extend the life of their concrete structures. The use of concrete restoration is becoming more widespread as people recognize the benefits of restoring concrete surfaces instead of replacing them. Benefits include improved appearance, better performance, and reduced costs.
The global concrete restoration market is expected to reach USD 20.4 billion by 2026, according to a new report by MarketsandMarkets™ It is projected to expand at a CAGR of 6.2% during the forecast period. Increasing construction activities, surging demand for sustainable concrete solutions, and rising government investments for the development of infrastructure are the major factors driving the market growth.
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Concrete is a vital component in the construction industry and is used for various applications such as building foundations, pavements, and other structures. It is an economical building material as it has a long service life and requires less maintenance. However, due to environmental conditions, concrete faces extreme weathering, which leads to deterioration. Concrete restoration is a comprehensive process that involves repairing and restoring the existing concrete to its original condition.
According to material type, the quick-setting cement mortar segment is anticipated to hold the biggest market share for concrete restoration during the anticipated time frame.
The quick-setting cement mortar segment is expected to dominate the concrete restoration market, owing to its rapid setting time, superior strength and durability, and ability to adhere to concrete surfaces. Furthermore, the use of quick-setting cement mortars in concrete restoration applications is increasing due to their superior adhesion and bonding properties, which make them suitable for the repair of spalled concrete, cracks, and other surface defects. Additionally, rapid-setting cement mortars are used in the repair and restoration of concrete structures, such as bridges, parking garages, sidewalks, and other infrastructure.
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The marine segment is expected to register the highest CAGR during the forecast period
The marine segment in the Concrete Restoration market is expected to witness the fastest growth over the forecast period, owing to the rising demand for high-performance marine concrete restoration solutions due to the growing number of ships and vessels. The growing marine industry is expected to create a need for concrete restoration solutions that are capable of withstanding extreme weather conditions and marine environments. Additionally, the increasing demand for concrete restoration solutions in ports, harbors, and other marine structures is expected to drive the growth of the marine segment in the market over the forecast period.
The concrete restoration market is anticipated to grow at the highest CAGR in Asia Pacific during the anticipated period.
The Asia Pacific region is expected to register the highest CAGR of 7.2% for the Concrete Restoration market during the forecast period. The region is expected to benefit from the increasing investment in infrastructure development and an increasing number of high-rise buildings in the region. Moreover, the region is home to some of the rapidly growing economies, such as India and China, which is driving the need for the restoration of concrete structures. Moreover, the increasing number of government initiatives and supportive regulations to promote the use of advanced materials and technologies in the construction industry is also expected to drive market growth in the region. Europe is the second-largest market for concrete restoration worldwide and is projected to witness a CAGR of 5.9% during the forecast period.
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Major players operating in the concrete restoration market include Sika (Switzerland), Mapei S.p.A (Italy), Master Builders Solutions (Germany), Fosroc (UAE), BASF SE (Germany), Pidilite Industries (India), RPM International (US), Fyfe (US), Saint-Gobain Weber S.A. (France), The Euclid Chemical Company (UK) and others.
Concrete Restoration Market Segmentation:
The concrete restoration market has been divided into the following categories based on Material Type:
- Shotcrete
- Quick setting cement mortar
- Fiber concrete
- Others (concrete bonding agents, grout, etc.)
The concrete restoration market has been divided into the following categories based on target applications:
- Water & Wastewater Treatment
- Dams & Reservoirs
- Roads, Highways & Bridges
- Marine
- Buildings & Balconies
- Others (parking structures, industrial facilities, other miscellaneous)
The concrete restoration market has been divided into the following categories based on region:
- Asia Pacific
- North America
- Europe Middle
- East & Africa
- South America
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