Concrete Repair Mortars Market Size Worth USD 3.73 Billion By 2028
The global concrete repair mortars market size is expected to reach USD 3.73 billion by 2028 according to a new study by Polaris Market Research.
The market for concrete repair mortars is expected to increase during the forecast period owing to rising urbanization, growing population, and development of public infrastructure. Increasing environmental concerns along with rising investments in the maintenance of aging infrastructure would further support the market growth. Increasing development of transportation and road networks, and growth in the construction industry, especially in emerging economies of Asia Pacific, supplement the market growth for concrete repair mortars.
The different types of concrete repair mortars include epoxy-based, polymer-modified cementitious, and others. Polymer-modified cementitious segment dominated the global market for concrete repair mortars in 2020. Apart from its cost efficiency and ease of use, polymer-modified cementitious material also offers high tensile and flexural strength, greater abrasion resistance, superior adhesion, and high chemical resistance. Increasing environmental concerns and growing infrastructure development has increased the demand for polymer-modified cementitious materials worldwide.
The end-uses of concrete repair mortars include utility, roads and infrastructure, buildings, and others. There has been an increasing demand for concrete repair mortars from the roads & infrastructure sector. Governments, especially in emerging economies, are investing significantly in the development of roads, highways, and bridges.
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Rising population, increasing urbanization, growing construction industry, and several public-private partnerships are driving the growth of this segment. The development of improved transportation networks, a growing number of road accidents, increasing road safety concerns, and the rising need to streamline traffic networks are some factors attributing to the growth of this segment.
On the basis of the method of application, the market is segmented into spraying, manual, pouring, and others. The demand for manual applications is expected to increase during the forecast period. Hand troweling or manual application is a common method used for repairing concrete. It is easy to use and works well for vertical, overhead, and horizontal concrete surfaces. It is widely used for shallow surface repairs and does not require significant equipment.
Economic development in countries of Asia-Pacific coupled with growth in the construction industry, increasing population, rising disposable income, and increasing urbanization are expected to contribute towards market growth in the region. Owing to technological advancements, companies are providing technologically advanced products in order to retain existing customers and strengthen their market presence. Broadening of the product portfolio is another trend that is visible in the industry.
Top Market Players
Some of the major market participants operating in the industry include Fosroc International Ltd., Adhesive Technology Corporation, Ardex Group, Saint-Gobain Weber S.A., Baumit, Sika AG, Remmers Baustofftechnik GmhH, Bostik, Mapei S.P.A, Pidilite Industries Ltd, Flexcrete Technologies Ltd., BASF SE, and The Euclid Chemical Co.
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Polaris Market Research has segmented the concrete repair mortars market report on the basis of mortar type, end-use, method of application, and region:
Concrete Repair Mortars Type Outlook (Revenue, USD Million, 2016 – 2028)
- Epoxy Based Mortars
- Polymer Modified Cementitious Mortars
Concrete Repair Mortars End-User Outlook (Revenue, USD Million, 2016 – 2028)
- Roads and Infrastructure
Concrete Repair Mortars Method of Application Outlook (Revenue, USD Million, 2016 – 2028)
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