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A16022 | Pages: 240 | Charts: 55 | Tables: 114 |
The Global Concrete Repair Mortar Market Size was valued at $2.7 billion in 2020, and is projected to reach $5.3 billion by 2032, growing at a CAGR of 5.6% from 2023 to 2032. Concrete repair mortar is a specialized construction material designed to rehabilitate and restore damaged or deteriorated concrete surfaces. It is formulated to provide structural integrity by repairing cracks, spalls, and defects. It effectively bonds to existing concrete, preventing delamination with high compressive strength and adhesion properties. Versatile in application, it can be used horizontally or vertically, making it suitable for various surfaces, including floors, walls, and ceilings. Concrete repair mortars offer durability, cost-effectiveness, and sustainability in infrastructure and building maintenance.
Buildings, bridges, roads, and tunnels are all types of infrastructure that are increasingly needed as the construction sector grows. Concrete is used to build many of these structures. These concrete structures need upkeep and repairs as they age, which raises the demand for concrete repair mortar. In addition, the expansion of public and commercial infrastructure across the globe is a major factor in boosting the concrete repair mortar market growth. For instance, in 2021, the $1 trillion Bipartisan Infrastructure Law, which was passed by the White House, mandates that major government spending is anticipated to be made on the construction of infrastructure, such as bridges, roads, trains, and towers. In addition, the government intends to spend $25 billion on the upkeep and repair of airports and $17 billion on port facilities. Moreover, the government intends to spend about $65 billion improving and expanding the electricity infrastructure of the nation by constructing several transmission lines to support the growth of renewable and clean energy sources. As a result, it is projected that an increase in infrastructure construction is anticipated to boost demand for concrete repair mortar.
Moreover, many nations have deteriorating infrastructure that needs constant upkeep and repair. Concrete repair mortar is necessary to remedy cracks, spalling, and other types of damage when structures and roads deteriorate over time. For instance, in February 2022, the Ontario government in Canada allocated $493 million as part of the Facilities Renewal Program (FRP) to support public assistance for colleges and universities in need of urgent maintenance, repairs, renovations, and facility renewal. Numerous campus amenities, all made of concrete, are common at these kinds of colleges and universities, including academic buildings, residence halls, sports facilities, and parking structures. These buildings need upkeep and repairs over time because of wear and tear.
Educational institutions spending on maintenance and repairs drives the concrete repair mortar industry. In addition, it is frequently less expensive to maintain and repair existing structures than to build new ones. The concrete repair mortar market outlook appears promising, with a growing demand for durable construction materials driving innovation in the industry. Governments and organizations on a tight budget are especially drawn to the concrete repair mortar because it provides an affordable alternative for extending the lifespan of infrastructure.
Government agencies frequently start maintenance and repair programs to lengthen the life of infrastructure. These programs entail significant expenditures on repair supplies, such as concrete repair mortar. Such occurrences accelerate the expansion of the concrete repair mortar market during the forecast period.
Furthermore, one of the most polluting industries in the world is the building sector. Approximately 8% of CO2 emissions of the world are produced by the cement sector alone. In contrast, the aviation sector, which is notorious for having large carbon emissions, only contributes to 3% of CO2 emissions of the world. The average citizen of the nation is progressively learning about the damaging effects of the construction industry on the environment. They therefore urge for the use of more environment-friendly and durable building materials.
As a result, businesses that produce building materials around the world have introduced sustainability into the production of cementitious goods such as concrete repair mortar. The advancement of materials science has also made it possible to produce construction goods that are environmentally friendly or low carbon in addition to the manufacturing process. For instance, in December 2022, Cortec Corporation, which is a leading chemical-based manufacturer, introduced a brand-new, upgraded MCI-2040 smart repair mortar was developed as a high-performance industrial protective vertical/overhead smart paste filling. An easy-to-handle patching solution for quick repairs, MCI-2040 is a high-strength, cement-based repair mortar.
The concrete repair mortar market has witnessed various obstructions in its regular operations due to COVID-19 pandemic and inflation. lockdowns and travel restrictions imposed to curb the spread of the virus led to supply chain disruptions. Manufacturers faced difficulties in sourcing raw materials and components. Delays in shipments and logistical bottlenecks affected the timely delivery of materials, contributing to project delays and reduced operational efficiency. However, the COVID-19 has subsided, and the major manufacturers in 2023 are performing well.
Contrarily, the rising global inflation is a new major obstructing factor for the entire industry. The inflation, which is a direct result of the Ukraine-Russia war, and few long-term impacts of the coronavirus pandemic, has introduced volatility in the prices of raw materials used for manufacturing concrete repair mortar. In addition to this, the cost of production has also increased substantially, and many countries; especially, the countries in Europe, Latin America, and developing economies in Asia-Pacific have experienced severe negative impacts on industrial production, including the production of various machinery.
However, India and China have performed relatively well. In addition, inflation is expected to worsen in the coming years, as the possibility of the ending of the war between Ukraine and Russia is less. However, a peace agreement between Ukraine and Russia can be devised with the continued talks between different countries.
The concrete repair mortar market is segmented on the basis of type, application, end-user industry, and region. On the basis of type, the market is bifurcated into cementitious and epoxy. On the basis of application bifurcated into structural and non-structural. On the basis of the end-user industry, the market is bifurcated into building construction and infrastructure. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, the UK, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
[TYPEGRAPH]
The concrete repair mortar market is bifurcated into cementitious and epoxy. In 2020, the cementitious segment dominated the concrete repair mortar market share, in terms of revenue. However, the epoxy segment is expected to grow with a higher CAGR during the forecast period. Moreover, cementitious concrete repair mortars are typically formulated to be compatible with existing concrete, ensuring a seamless bond and preventing future issues like cracking or delamination between the repaired and existing sections. Furthermore, epoxy concrete repair mortar exhibits high compressive and tensile strength, which makes it suitable for restoring the structural integrity of damaged concrete elements. It can often exceed the strength of the original concrete.
[APPLICATIONGRAPH]
The concrete repair mortar market is bifurcated into structural and non-structural. In 2020, structural dominated the concrete repair mortar market forecast, in terms of revenue, and non-structural is expected to witness growth at a higher CAGR during the forecast period. Structural repair mortars are specifically designed to restore the load-bearing capacity of damaged concrete structures. They can effectively repair and strengthen concrete elements, such as beams, columns, and slabs. Additionally, many non-structural repair mortars come in various textures and finishes, allowing for customization to match the desired surface appearance. This is especially useful for architectural or decorative concrete projects.
[ENDUSERINDUSTRYGRAPH]
The concrete repair mortar market is bifurcated between building construction and infrastructure. The infrastructure segment accounted for a higher market share in 2020 and the building construction segment is anticipated to register a higher growth rate throughout the forecast period. Concrete repair mortars are specifically formulated to restore the structural integrity of damaged or deteriorated concrete elements. They can repair cracks, spalls, and other defects that compromise the strength and stability of infrastructure. Moreover, repairing damaged or deteriorating concrete elements with repair mortar helps restore the structural integrity of the building. It allows buildings to continue to support their intended loads and resist stresses.
[REGIONGRAPH]
Asia-Pacific accounted for the highest market share in 2022 and LAMEA is expected to grow with a higher CAGR throughout the projected period. Many countries in Asia, particularly China and India, have been experiencing rapid economic growth and urbanization. Many countries in the Asia Pacific region were investing heavily in infrastructure development, including the construction and maintenance of roads, bridges, airports, and other critical infrastructure. This led to the growth in demand for concrete repair mortar to rehabilitate and extend the lifespan of existing structures. Moreover, some areas in the LAMEA region may be exposed to harsh environmental conditions, including high temperatures, humidity, and saltwater exposure. This can accelerate concrete deterioration, increasing the demand for durable repair solutions.
Competitive analysis and profiles of the major players in the concrete repair mortar market are provided in the report. Major companies in the report include Alccotech Building Materials Pvt Ltd., BASF SE, Fosroc, Inc., Laticrete International, Inc., MAPEI S.p.A., Perma Construction Aids Pvt. Ltd., Saint Gobain, Sika AG, W. R. Meadows, Inc., and Xypex Chemical Corporation.
Key Market Segments
Key Market Players