Concrete Repair Mortars Market Potential Growth, Share, Demand and Analysis of 2024
Concrete structures are prone to deterioration owing to several factors such as water infiltration, corrosion, structural damage or others. Concrete repair mortar material mends and protects the concrete structures by providing fortification against cracking, restricting corrosion, and chemical anchoring. With benefits such as enhanced bond strength, lowered shrinkage, impermeability, density, tensile strength, and thixotropy, concrete repair mortars are highly useful for several industries such as road and infrastructure, marine structures, utility, and building and construction. Consequently, the demand in the global concrete repair mortars market is projected to expand at a rapid rate during the forecast period of 2016 to 2024.
This report on the global market for concrete repair mortars has been made to act as a reliable business document for audiences such as additive and polymer-resin manufacturers, portland cement manufacturers, traders, distributors, and suppliers of concrete repair mortars, government and regional agencies, research organizations, and investment research firms. The report studies all the factors that may impact the demand for concrete repair mortars during the forecast period and estimates the scenario of the market until 2024. It also profiles a number of leading companies currently operating in this market in order to represent the competitive landscape.
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Based on product type, the global concrete repair mortars market can be segmented into polymer-modified cementitious mortar and epoxy-based mortar. Application-wise, the market can be categorized into spraying, manual, and pouring. End-use industry bifurcation of the market can be done into building and car park, marine structure, road and infrastructure, and utility industries. Geographically, the report explores the opportunities available in regions such as Asia Pacific, Europe, North America, and the Middle East and Africa.
Besides rapid urbanization across several emerging economies, increased spending on repair and maintenance of building and construction is the primary driver in the global concrete repair mortars market. In addition to that, the trend of public-private partnership, especially in the transport sector in developed countries expected to positively reflect on this market. Concrete repair mortars are not only used to repair, maintain, and bring back the original architectural shape of the old structure, it also ensures the resumption of all the functional work readily in an old building or infrastructure that has deteriorated overtime. Eco-friendly nature of these products is another favorable factors that is helping the adoptability.
Product-wise, the segment of polymer-modified cementitious (PMC) mortar is expected to expand at most robust rate during the forecast period, which is due to its high workability, adhesion, and tensile strength. Additionally, PMC mortar are gaining popularity as they are cost efficient in comparison to its counter-parts.
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Asia Pacific currently is the most profitable region for the players operating in concrete repair mortars market, which is due to rapid construction and infrastructure building in emerging economies such as India, China, Australia, and Japan. Governments in these countries have extended their budget to build better facilities and maintenance of existing ones, which is significantly favoring the market in this region.