Since the past few years, almost all developing countries have focused their energies on infrastructure development. Maintenance & repair is as important a component as quality construction of infrastructure. For this, concrete repair mortar becomes an essential raw material. Concrete repair mortar or cement mix, as it is known sometimes, is used for restoring the damaged concrete and reinstating the structure to its original form.
Concrete or cement mixers are widely used owing to their ability to offer structural integrity to a structure. Furthermore, once used in the repair work, concrete mixers help in offering durability to the entire structure. Additionally, cement repair mix also improves the overall appearance of the structure.
In 1793, an English builder sought to identify the most suitable material for constructing a lighthouse. His exploration led him to experiment with limestone, which he finely powdered and mixed with water to create a cement mixture. The building stood for 130 years before the erosion of rocks underneath. This states that cement was the best material for constructing a robust infrastructure. Based on this theory, in 1824, Joseph Aspdin, a renowned builder in England started experimenting with cement and thereafter, Portland cement was invented. He mixed limestone chalk with clay and removed carbon dioxide by heating it. Then he added pulverized alumina and silica along with gypsum to create a distinct Portland cement.
Then in 1850, reinforced concrete was invented and used for the construction of modern buildings. This concrete was immensely stronger and acted as the main ingredient in the construction of huge infrastructural projects such as bridges and skyscrapers. With continuous chemical upgradation, modern concrete repair materials are widely used in residential and commercial sectors for building robust infrastructures.
Concrete repair mortar is primarily of two types: cementitious repair mortar and epoxy repair mortar. Cementitious repair mortar is a widely used cement mix for walls, pavements, and walkways. The biggest advantage of cementitious repair mortar is its affordability which makes it perfect for public works. The second type of cement repair mix is epoxy repair mortar. As opposed to cementitious mix, epoxy mix is used for larger structures such as buildings due to its ability to layer easily and its fast-curing properties.
Increasing construction of buildings, dams, tunnels, roads, etc., in different countries of the world has led to a surge in demand for concrete repair mortar. The increase in demand is expected to translate in the growth of the industry. Moreover, growing electricity demand across the globe has necessitated the development of energy generation infrastructure. This has led to an increase in demand for cement mix which might open up new avenues of growth in the industry.
Segmentation analysis of the industry shows that based on type, the cementitious segment is anticipated to amass an absolute revenue of $1,298.7 million in the 2023-2032 period. On the other hand, the epoxy segment is predicted to garner a revenue of $990.3 million in the forecast period. Regional analysis of the industry has demonstrated that the Latin America region is projected to have the fastest growth at a CAGR of 6.7% during the analysis timeframe.
Just like any other sector, the companies operating in the concrete repair mortar industry are continuously competing with each other for securing a lead over their peers. For this, several strategic alliances are formed by these companies. For example, in March 2023, ARDEX, a building materials manufacturer, announced the acquisition of Score Tech Mortars. As per the statement released by ARDEX, the acquisition will help the company to expand its operations in the Hongkong and Macau regions in the near future.
Similarly, in March 2023 itself, Commercial Metals Co. announced that it has signed an agreement to acquire Tendon Systems LLC, a concrete restoration systems provider. The acquiring company released a statement saying that the acquisition was aimed at enhancing the company’s capabilities to cater to the demands of the construction sector comprehensively in the coming period
To conclude, the concrete repair industry is expected to witness major growth owing to the expansion of the infrastructure sector across the globe. Furthermore, the strategic alliances in the industry will also widen the scope of the sector in the near future.
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