Underwater Concrete Market, by Raw Material (Concrete, Admixtures, Precast concrete, cement) Application (Swimming pools, Marine Construction, Underwater Repair), laying technique (Tremie method, Bucket placing, Pump method, Others) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
Underwater Concrete Market Overview
The global Underwater Concrete market size was estimated at USD 129.65 billion in 2023 and is projected to reach USD 193.27 billion in 2030 at a CAGR of 5.87% during the forecast period 2023-2030.
Underwater concrete is a special type of high-performance concrete used for the construction of bridges, ports, foundations in high water soils, and almost all offshore and land structures. The introduction of the underwater concrete process can save engineers from using the conventional construction method by isolating the water, which will reduce the disturbance in the plant operation and save significant savings. Immersed concrete is a highly flowable concrete that can spread into place under its own weight and achieve adequate compaction without vibration, segregation and flow defects.
Increase in dams and bridges, favorable government initiatives for underwater construction and increasing use of hydropower have expanded the market area. The need for repair and maintenance of existing underwater structures is increasing, driving the growth of the global underwater concrete market. In addition, increasing use of underwater concrete in hydropower, marine, coastal defense, underwater repair, tunnels, swimming pools and other industries is fueling the growth of the underwater concrete market globally. Improvement in the quality of hydraulic construction in developing countries is also a driving factor for the global underwater concrete market. However, fluctuating prices of raw materials and wrong investment can hinder market development. However, introduction of non-washable underwater concrete mixes and increasing production of eco-friendly underwater concrete will create huge opportunities for market growth during the forecast period.
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The subsea concrete market had been hit hard by the COVID-19 pandemic as the demand for subsea concrete had decreased in several industries. Import and export of construction materials had been suspended due to closures and shutdowns during the pandemic. Transport services were banned worldwide, affecting trade in construction materials. Therefore, the supply and demand of these materials ceases. However, after the removal of the restriction, the underwater concrete market has accelerated its growth as it offers many advantages in various industries.
Delvens Industry Expert's Standpoint
The pandemic had a considerable impact on businesses globally, with nations like India and China bearing the brunt of the virus's outbreak. The underwater concrete market offers lucrative opportunities for industry players and investors as marine construction projects continue to grow. Ensuring durability, corrosion resistance and compliance with environmental standards is critical to the sustainable growth of the underwater concrete industry. The underwater concrete market is expected to continue to grow, fueled by urbanization, coastal infrastructure development and the expansion of offshore energy projects. Advances in concrete technology, including self-compacting concrete and fiber-reinforced concrete, are likely to contribute to market expansion. These factors have led to the expansion of the market and increased demand for Underwater Concrete solutions.
Key Findings
- The raw material segment is further fragmented into Concrete, Admixtures, Precast concrete, cement. The precast concrete segment is expected to account for a larger market size during the forecast period. Precast concrete refers to concrete components that are produced in a controlled environment, usually in a factory or precast plant, before being transported and placed on a construction site. It involves pouring concrete into reusable molds or molds that allow for standardized production and quality control. Precast concrete growth is driven by increasing infrastructure projects such as offshore energy projects, port and harbour construction, and bridge and tunnel projects.
- The laying technique segment is further bifurcated into Tremie method, Bucket placing, Pump method, Others. The tremie method is the largest market during the forecast period. The tremie method is versatile and is used in many underwater construction projects such as marine foundations, bridge piers and other underwater structures. It can be used at different depths and locations, making it suitable for many applications. The Tremie method also reduces water contamination of the concrete mix. By submerging the outlet of the pipe, it prevents water from entering the concrete, maintaining the desired properties and strength. These factors make the tremie method a reliable and efficient installation method for underwater structures.
- The application segment is further bifurcated into Swimming pools, Marine Construction, Underwater Repair. Marine construction to account for a larger market size during the forecast period. Marine construction projects are boosting the growth of the underwater concrete market due to several different factors. These projects include the development of coastal infrastructure, offshore energy facilities, underwater transport infrastructure, coastal protection measures and repair and restoration works. The demand for underwater concrete stems from the need to build durable and flexible structures in the marine environment. In addition, government investments and initiatives in maritime infrastructure continue to drive market expansion. Overall, the increasing focus on coastal development, offshore energy projects, connectivity and the need to protect coastal areas from erosion and other natural hazards is driving the demand for underwater concrete.
- The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. Asia-Pacific is estimated to account for the largest market share during the forecast period due to rapid urbanization.
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Underwater Concrete Market Regional Analysis
North America to Dominate the Market
- Asia-Pacific is estimated to account for the largest market share during the forecast period. In Asia-Pacific, Rapid economic expansion and urbanization in countries such as China, India, and Southeast Asia have increased the demand for new ports, harbors, offshore buildings, bridges, and coastal protection works to support expanding commerce and economic activity.
Underwater Concrete Market Competitive Landscape
- Sika AG
- Conmix Ltd
- M-con Products Inc.
- Wieser Concrete
- Rockbond SCP
- Heidelberg Cement. Group
- lementbau Osthessen GmbH & Co
- ELO KG
- Hi-Con
- Metalco SRL
- KPM Industries Ltd.
- GCP Applied Technologies, Inc.
- Mapei S.p.A
- Saint-Gobain
- Gulf precast concrete
- MC-Bauchemie
- U.S. Concrete
- TAKTL
- Ceentek
- CEMEX
Underwater Concrete Market Recent Developments
- In May 2023, Sika AG acquired the MBCC Group to strengthen its footprint across all regions and reinforce its range of products and services across the entire construction industry.
- In March 2022, Sika AG has acquired Sable Marco Inc., a manufacturer of cementitious products and mortars in Canada.
Reasons to Acquire in the Underwater Concrete Market
- Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
- Gain authentic and granular data access for the Underwater Concrete Market to understand the trends and the factors involved in changing market situations.
- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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The Underwater Concrete industry is expected to witness high growth owing to the development of advanced cement mixtures and formulations coupled with the rising efficiency of the production processes.
In addition, the development of advanced admixtures and adhesives, leading to an increase in the strength of the underwater structures is expected to benefit the market growthRising adoption of hydropower coupled with elaborate capacity expansions in the U.S. and Canada is expected to drive the demand for the product over the forecast period.
In addition, increasing demand for underwater concrete for the construction of bridges and tunnels is expected to drive the market growth.Request Exclusive Free PDF Sample Of This Report @ https://dataintelo.com/request-sample/?reportId=3640The industry exhibits a high demand for the product for repair and maintenance of dams and marine structures.
In addition, growth in the demand for the product for swimming pools coupled with the proposals for the construction of tunnels in the region is expected to drive the industry growth.The abundance of high-strength raw materials such as cement, admixtures, adhesives, and sealants in the economy is expected to drive the industry growth over the forecast period.
In addition, the presence of a large number of concrete manufacturers, contractors, and sub-contractors in the region is expected to account for the high demand for the product in the U.S. Read More@ http://www.marketwatch.com/story/underwater-concrete-market-size-2019-outlook-opportunity-and-demand-analysis-report-by-2025-2019-12-03
