|International News: Global Concrete Repair Mortar Market| Size, Growth, Industry, Price Trends & Forecast 2019-2024
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According to a new report by EMR ti tled ‘Global Concrete Repair Mortar Market Report and Forecast 2019-2024', the global concrete repair mortar market will witness a moderate growth in the forecast period of 2019-2024, aided by the rising demand from the transport infrastructure and construction repair sectors globally.
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Concrete repair mortars are used to restore, repair and reinforce infrastructure. They protect infrastructures from structural damage which are liable to occur due to water and chemical intrusion into the structure. Since, mortars are a combination of cementitious materials, water, and other granular aggregates, the growth of the global concrete repair mortar market is aided by the growth of the cement market. In 2018, the total production of cement globally was 4.3 billion metric tons.
The construction industry is also a major driver of the concrete repair market and is expected to grow at CAGR of around 4% in the forecast period of 2019-2024. Globally, the construction industry is witnessing a robust growth with both public and private pla yers investing heavily in infrastructure projects. The rising construction repair sector, buoyed by the increasing preference for maintaining and repairing old infrastructure over building new infrastructure from scratch, is driving the demand for concrete repair mortars. These mortars fortify and restore infrastructure by protecting against corrosion, cracks, and water and chemical damage. They are also used for cosmetic repairs and reprofiling of infrastructure.
Transportation infrastructure, which is also a key application sector for concrete repair mortars, is witnessing a healthy growth with governments in emerging economies increasingly focusing on infrastructural developments. Rapid population growth globally has added to the increased traffic leading to the rising demand for transportation infrastructure. The compounding traffic has also put an added pressure on the existing infrastructure, which is in constant need of upkeep. Concrete repair mortars prolong the life and sustainability of these transportation infrastructures by increasing their structural strength while also repairing the wear and tear caused by fluctuating weather conditions. They also repair structural damage like potholes, ensuring that transportation infrastructures like roads remain safe and durable.
The Asia Pacific is a leading market for transportation infrastructure and is also a key market for concrete-repair mortars. The Asia Pacific market is expected to keep growing in the coming years with the rapidly rising construction and infrastructure sectors, especially in countries like China and India. In mature economies like the US, Germany, and Australia consumers are expected to spend more on the repair and upkeep of old infrastructure, adding further impetus to the concrete repair market.
Market Analysis by Type, Application Method, End-Use and Region:
* Concrete repair mortars are categorised as cementitious repair mortars and epoxy-ba sed mortars.
* ba sed on the method of application, concrete repair mortars can be divided as wet/spray applied, hand/trowel applied, and form and pour applied repair mortars.
* They find their end use in commercial and institutional buildings, industrial facilities, stadiums and parking structures, roads, bridges and tunnels, wastewater and water treatment facilities, among others.
* Region-wise, the concrete repair mortar is divided into North America, Europe, Asia Pacific, LATAM, and Middle East and Africa.
To view the report summary and Table of Contents, click on:https://www.expertmarketresearch.com/reports/concrete-repair-mortar-market
Key Findings of the Report:
* Due to its low cost, high efficiency and easy availability, the manual method for the application of concrete repair mortar is preferred in the market.
* Cementitious mortar dominates the concrete-repair mortars market owing to its high tensile strength, ease of use, and cost-efficiency.
* Cementitious mortars are eco-friendlier than epoxy-ba sed concrete repair mortars which help in its market growth with consumers becoming more environmentally conscious.
* The global concrete repair mortars are witnessing rising demand in infrastructural segments like commercial and institutional buildings, parking structures, and roads, bridges and tunnels.
* Asia Pacific leads the concrete repair mortar market with growing construction industry and increasing focus on the maintenance of existing infrastructure, especially in countries like India and China.
Key Offerings of the Report:
* The EMR report analyses the historical (2014-2018) and forecasted (2019-2024) market of concrete repair mortars according to their types, end-use and regional markets.
* The report provides the installation cost of the different types of concrete repair mortar.
* It also analyses the trade data of the major exporting and importing countries by their value and volume for the market in the year 2018.
* It gives an in-depth insight into the regional price trends of concrete repair mortars for the periods 2014-2018 and 2019-2024.
According to EMR, the key pla yers in the global concrete repair market are Sika AG, Fosroc International Limited, Saint-Gobain Corporation, BASF SE, Mapei S.P.A., Pidilite Industries Limited, Flexcrete Technologies Ltd, and The Euclid Chemical Company. The report provides market information about the latest developments like market share, capacity expansions, plant turnarounds, and mergers and acquisitions.
EMR is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client ba se ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.
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