Report Summary
The size of the global market for concrete repair mortars was evaluated at USD 2,190.2 Million in 2020 and is projected to increase at a CAGR of 6.2% from 2021 to 2028. The market is expected to rise as a result of rising investments in the construction of housing and transportation infrastructure as well as in the upkeep and rehabilitation of already-existing building structures. Over the anticipated period, demand for concrete repair mortars as a crucial building material is going to increase due to their attributes like impermeability, tensile strength, stress immunity, and thixotropy. Furthermore, it is anticipated that the qualities of these repair materials will be improved by top chemical companies as they produce advanced mortar admixtures.
It is anticipated that significant government spending on the construction of roads, buildings, and maritime structures will increase the need for infrastructure repair and maintenance. This is then anticipated to have a favourable impact on the market’s overall growth throughout the course of the forecast year.
Sorting insights
In 2019, the Polymer Modified Cementitious (PMC) mortar type held a market share of more than 87%. Over the projection period, the segment is anticipated to maintain its leadership position while growing at the quickest CAGR. The market for PMC mortars is anticipated to be driven by their superior qualities, which include resistance to chemical ingress, waterproofing, significant durability, and toughness.
These supplies are frequently used in the construction of brick-and-block buildings, including walls, walkways, and fences. Mortars are a typical area for concrete repair since they are more susceptible to corrosion and damage than structural bricks. As a result, both comprehensive restorations and touch repairs have a higher need for repair supplies.
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Insights into Application Methods
In 2019, the hand/trowel method had a market share of more than 54%. Due to the segment’s ability to restore buildings both vertically and horizontally, it is expected to grow at the fastest CAGR between 2020 and 2027. Additionally, the hand/trowel technique works well for both structural and non-structural repairs. Additionally, it provides excellent capability for patching holes or cracks with a repair depth of 15 to 70 mm. Over the next eight years, these elements are anticipated to fuel the segment’s expansion.
Grade Perspectives
With a 60% market share, the structural grade segment dominated the global market in 2019. Concretes with a structural grade offer strong strength characteristics for sustaining the structural load and are an essential component of a construction. Non-structural concretes have a relatively low strength and are used for light compression and transient loads.
The structural-grade segment is anticipated to be driven by the growing requirement for building infrastructure repair and maintenance as a result of the materials’ and structures’ degradation brought on by the combined effects of loading and environmental variables.
End-use Perspectives
With more than 55% of the global market share, the road infrastructure sector dominated the market in 2019. Governments all around the world are concentrating on enhancing their transportation infrastructure to reduce the overall cost and time of transportation. Additionally, the UN member nations’ adoption of the 2030 Agenda for Sustainable Development in 2015 included a goal to dramatically reduce the number of traffic accidents by improving the state of the roads in each nation.
Regional Perspectives
With more than 35% of the market share, the Asia Pacific region led the world in 2019. From 2020 to 2027, it is anticipated to see the fastest regional market growth. The population increase, which strains the existing infrastructure and leads to deterioration of the building and a need for maintenance materials, is blamed for the rise.
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By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
