The Concrete Repair Mortars Market Size was valued at USD 3.01 billion in 2023. It is projected to reach USD 4.42 billion by 2031
Download Sample Copy of Report: https://www.snsinsider.com/sample-request/2507
Some of Major Key Players in this Report:
- Sika AG
- Fosroc International Ltd.
- MBCC
- Mapei S.p.A
- Saint-Gobain Weber S.A
- Pidilite Industries Ltd.
- Remmers Baustofftechnik GmbH
- Flexcrete Technologies Ltd.
- The Euclid Chemical Co.
- Adhesive Technology Corp.
Aging infrastructure is a key driver, with over 70% of bridges in the United States alone classified as deficient or in need of repairs.
This, coupled with rising urbanization projected at 55% by 2030 globally, puts immense strain on existing structures, necessitating regular maintenance and repairs with concrete repair mortars. Additionally, 80% of concrete structures will require repairs within their lifespan due to factors like weather damage and corrosion.
This ongoing need for repair, along with a growing focus on sustainable construction practices that utilize materials with extended lifespans, is promoting the demand for innovative concrete repair mortars with low VOC (Volatile Organic Compounds) content.
According to SNS Insider one key challenge is a lack of awareness regarding the benefits of advanced repair mortars.
This can lead to inappropriate product selection and application, compromising the longevity of repairs. Budget constraints affecting 35% of projects as per contractor surveys further hinder the market. Projects prioritize lower-cost options over high-performance repair mortars, sacrificing long-term durability for short-term savings. This not only increases life-cycle repair costs but also poses safety risks due to potential structural failures.
A growing trend is the utilization of these mortars for precast concrete repairs, which is expected to account for nearly 20% of the market by 2031.
This shift reflects the increasing prefabrication of building components due to its efficiency and speed. Additionally, a focus on sustainable construction practices is creating demand for eco-friendly repair mortars. These innovative products, formulated with recycled materials or holding lower embodied carbon, are projected to capture over 15% of the market share by 2031.
Moreover, the rising awareness of the influence of indoor air quality on health is driving the development of specialty repair mortars that reduce harmful VOC emissions. This segment is anticipated to witness a rise of over 18% by 2031, providing to the growing demand for healthy building environments.
Market Segmentation Analysis: Market Growth & Opportunities:
The concrete repair mortars market is dominated by polymer-modified cementitious (PMC) mortars, capturing over 87% of the market share. This dominance is driven by their superior performance compared to traditional cementitious mortars.
PMC mortars boast impressive qualities like enhanced strength (over 40 Mpa), superior workability for easy application, improved adhesion for a strong bond with existing concrete, and commendable chemical resistance. These properties make them ideal for a wide range of applications, particularly in residential and commercial construction (over 60% share).
The Asia-Pacific market is assured for growth, driven by a several of key factors.
This region holds a significant 59% of the global construction industry, driven by rising disposable incomes, rapid urbanization, and population growth. This translates to a projected growth rate of over 5% for the concrete repair mortars market in Asia-Pacific, outpacing the global average. Government infrastructure initiatives in developing countries within the region further amplify this trend. Meanwhile, Latin America presents an expanding market with a projected growth rate exceeding 4%.
Buy Complete Report: https://www.snsinsider.com/checkout/2507
Supply And Demand Gap Analysis Overview:
A significant driver, rising investment in transportation infrastructure repair is estimated to be in the range of 70-80%. However, skilled labor shortages in the construction industry hover around 6% globally, potentially hampering the application of these repair materials.
Additionally, the raw materials used in some high-performance mortars, like epoxy resins, are susceptible to price fluctuations due to global market forces. A price increase of even 5% can affect profit margins for manufacturers, impacting production capacity.
Recent Developments:
- In 2023, Sika AG introduced a new self-levelling epoxy mortar specifically designed for rapid repairs in industrial settings. This innovative product boasts a 30-minute working time and achieves full cure within 4 hours, translating to a significant reduction in downtime for critical infrastructure.
- BASF, another major player, recently reformulated their popular concrete repair mortar to include 40% recycled content, appealing to the growing demand for sustainable construction materials.
- This move reflects a wider trend within the market, with companies like Mapei SpA investing in research and development of bio-based admixtures to lower the environmental footprint of concrete repair mortars.
Key Takeaways:
- The rising focus on sustainability positions concrete repair mortars favourably. Polymer-modified cementitious (PMC) mortars, for example, capture a dominant market share due to their workability, strength, and eco-friendly nature.
- While epoxy-based mortars offer superior strength, their application is limited to high-performance scenarios. Interestingly, the demand for PMC mortars is projected to rise further due to their cost-effectiveness compared to other solutions.
- This trend highlights a potential focus area for manufacturers – developing PMC blends that excel in high-demand applications while maintaining affordability.
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company’s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
Our staff is dedicated to giving our clients reliable information, and with expertise working in the majority of industrial sectors, we’re proud to be recognized as one of the world’s top market research firms. We can quickly design and implement pertinent research programs, including surveys and focus groups, and we have the resources and competence to deal with clients in practically any company sector.
Contact Us:
Akash Anand – Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)
