The global spayed concrete market is expected to expand at ~7.93% CAGR during the forecast period.
The global sprayed concrete market is expected to witness substantial growth during the forecast period. Europe is estimated to be a prominent region for sprayed concrete market due to the development of infrastructure and the construction of residential, commercial, and municipal buildings. Similarly, the growing construction industry and the various tunneling projects that are pipelined in North America and Asia-Pacific are projected to drive the sprayed concrete market during the forecast period. In 2017, North America held the second largest market share in the sprayed concrete market. Commercial buildings such as commercial complexes and offices are increasing as business hubs are becoming overpopulated and creating a demand for new complexes. This is driving the sprayed concrete market in this region.
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The global sprayed concrete market has been segmented on the basis of process, system, application, and region. On the basis of process, the market is divided into wet process and dry process. The wet process segment is expected to dominate the sprayed concrete market due to the advantages it offers, including controlling the water content, easy spraying, and adding admixtures as per the design requirement during the preparation of the mix.
The key players of global sprayed concrete market are BASF SE (Germany), HEIDELBERGCEMENT AG (Germany), CEMEX S.A.B. de C.V. (Mexico), LafargeHolcim (Switzerland), Sika AG (Switzerland), LKAB (Sweden), KPM Industries Ltd (Canada), The QUIKRETE Companies (US), GCP Applied Technologies Inc. (US), U.S. Concrete, Inc. (US).
In January 2019, BASF SE launched its Virtual Design and Construction (VDC) resource center, which offers Building Information Modeling (BIM) content and other digital services for its clients in the construction industry.
In March 2019, Sika AG acquired KPM Industries Ltd, an independent Canadian manufacturer of dry shotcrete and mortars for concrete repair. This acquisition enables it to expand its business footprint in Canada
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