Shotcrete Market Size, Share Global Analysis Report, 2024 – 2032

Industry Insights

[216+ Pages Report] According to Facts & Factors, the global shotcrete market size was valued at USD 6.57 billion in 2023 and is predicted to surpass USD 12.28 billion by the end of 2032. The shotcrete industry is expected to grow by a CAGR of 7.20% between 2024 and 2032.

Market Overview

Shotcrete refers to the sprayed concrete used with a high-pressure delivery system in a variety of construction applications. It is a more durable, cost-effective, and versatile material than any traditional shotcrete method. This method is ideal even for complex surfaces where traditional methods can't work effectively.

Shotcrete offers high strength due to its wide application. Also, it offers high compressive strength. It is an efficient and fast method, thereby helping users to cover large areas and difficult geometries in much less time. Shotcrete is widely used in different applications like swimming pools, dams, reservoirs, bridges, highways, tunnels, fireproofing, underground constructions, and many others.

Key Insights

• As per the analysis shared by our research analyst, the global shotcrete market size is estimated to grow annually at a CAGR of around 7.20% over the forecast period (2024-2032).
• In terms of revenue, the global shotcrete market size was valued at around USD 6.57 billion in 2023 and is projected to reach USD 12.28 billion by 2032.
• Increasing infrastructure development is driving the growth of the global shotcrete market.
• Based on equipment, the general equipment segment is growing at a high rate and is projected to dominate the global market.
• Based on applications, the underground construction segment is anticipated to grow with the highest CAGR in the global market.
• Based on systems, the robotic spraying segment is projected to swipe the largest market share.
• Based on techniques, the wet mix segment is expected to dominate the global market.
• Based on region, North America is expected to dominate the global market during the forecast period.

Growth Drivers

• Increasing infrastructure development is driving the growth of the global market.

The ongoing urbanization in emerging economies like India, China, Southeast Asia, and Latin America is driving the growth of the global shotcrete market. There is a growing need for public infrastructure, like building tunnels, transportation networks, metro rail systems, etc., in urban areas. Shotcrete is an ideal material for applications in complex environments. Government initiatives are also likely to play a major role in the growth of the industry. Government focus on building smart city projects is also expected to support the growth of the industry.

Construction of underground metro systems all across the globe is also widely fueling the demand for shotcrete in the market as it can easily be applied on irregular surfaces for structural support. The fast-growing mining sector all across the globe is also a major factor in the high growth rate of the industry. Shotcrete is increasingly used in the mining sector to stabilize excavation, prevent rockfall, and reinforce tunnel walls.

Therefore, it is emerging as a great option for ensuring safety and structural integrity in mining operations. For instance, Sika AG successfully took over KPM Industry Ltd in 2019 to extend its business footprint in Canada. This company is an independent Canadian manufacturer of dry shotcrete.

Restraints

• High initial cost is expected to hinder the growth of the global market.

Shotcrete application can only be worked with specialized machinery like spray guns, compressors, and shotcrete pumps, which are quite expensive. This high cost is a big barrier for small and medium-sized contractors, which is likely to slow down the growth of the global shotcrete market.

Also, the maintenance and regular servicing of these shotcrete equipment further add up to the overall cost, which negatively impacts the growth of the industry.

Opportunities

• Technological advancements are expected to foster growth opportunities in the global market.

The development of robotic shotcrete application systems is expected to revolutionize the shotcrete industry. Automation and robotics have made the process safer and easier, especially in high-risk environments. Innovations and developments in shotcrete mixes, like self-compacting mixes, stronger accelerators, and improved binders, are likely to further foster new growth opportunities in the industry. These advancements make it easier to work with this versatile material. The ongoing trend of infrastructure repair and rehabilitation, particularly in Japan, Europe, and the US, is further expected to widen the scope of the industry.

Moreover, shotcrete is a more cost-effective method than traditional concrete pouring, which further makes it ideal for municipalities and builders to increase the lifespan of aging assets.

For instance, BASF SE came up with Virtual Design and Construction in 2019. It offers Building Information Modeling content and other digital services in the construction industry.

Challenges

• Shortage of skilled labor is a big challenge in the global market.

Shotcrete applications require professional and technical knowledge of equipment and processes for proper bonding. Also, it is important to avoid defects like cracking or air voids in the shotcrete process. Additionally, there is a shortage of skilled labor, particularly in developing economies, which is a big challenge in the shotcrete industry.

Report Scope

Segmentation Analysis

The global shotcrete market can be segmented into equipment, applications, systems, techniques, and regions.

On the basis of equipment, the market can be segmented into special equipment, auxiliary equipment, and general equipment. General equipment is the fastest-growing segment in the shotcrete industry. General shotcrete equipment like compressor mixes and pumps are highly versatile in nature and, therefore, can be used in a wide range of applications. This equipment can easily be used from small-scale construction to large-scale projects.

Also, the advancements in equipment technologies like efficient mixers, high-pressure pumps, and many others help users improve accuracy and efficiency. Additionally, the increasing investments in building modern infrastructure, particularly in emerging economies, further demands for this equipment, which in turn is also expected to fuel the growth of the segment.

On the basis of applications, the market can be segmented into repair works, protective coating, water retaining structures, inground swimming pools, underground construction, and others. The underground construction segment accounts for the largest share of the global shotcrete market during the forecast period. The rising demand for public transportation infrastructure like tunnels and subways is one of the major factors for the high growth rate of the segment. Shotcrete is in high demand for stabilization and lining, particularly in urban regions.

Also, shotcrete helps build ground support and wall stabilization for underground excavations in the mining sector. These are in high demand in high-stress environments. Furthermore, shotcrete improves durability and stability. It offers high resistance and strength that prevent cracking in long-term underground environments.

On the basis of systems, the market can be segmented into robotic spraying and manual. The robotic spraying segment is likely to dominate the shotcrete industry during the forecast period. Robotic spraying offers uniform applications that enhance the strength and quality of concrete layers.

However, it is highly important in big projects like subways, tunnels, and mineshafts. Robotics provide high-speed applications, thereby helping with project timelines and overall cost. It is a highly efficient technique used in projects where speed is needed.

However, integrating AI and automation with robotics is further expected to revolutionize the market by enhancing the adaptability of the process manifolds. Modern robotic shotcrete machines help operators with enhanced safety. Advanced robot spraying includes remote control and monitoring capabilities, thereby helping operators modify the parameters according to the requirement remotely.

On the basis of techniques, the market can be segmented into dry mix and wet mix. The wet mix segment is likely to register the highest CAGR growth in the coming years. Wet mix is combined with water before application for improved adhesion and consistency. Therefore, it offers high-quality applications, making it important for critical infrastructure projects like bridges or other high-stress infrastructure. One of the major advantages of using wet mix is its lower rebound rate and wastage, which is different from dry mix.

Therefore, wet mix is a more economical, efficient, cleaner, and environmentally friendly technique. Shotcrete is also used for faster and continuous application. It is widely used in sub-constructions, high-volume structures, repairs, and underground because of its higher productivity.

Regional Analysis

• North America to dominate the global market.

North America is likely to account for the largest share of the global shotcrete market during the forecast period. The US is the leading market in the region because of the government's increasing focus on public transit infrastructure.

Additionally, big projects like the New York subway system and high-speed rail infrastructure in California are likely to further boost the growth of the regional market manifolds in the coming years. Canada is also an emerging market in the region because of the presence of the strong mining sector. Ontario and British Columbia are leading markets for mining projects and, therefore, are gaining huge investments for transit infrastructure projects.

However, the growing efforts of the government on infrastructure modernization and expansion are further likely to fuel the building of tunnels, highways, bridges, and surfaces, which in turn is expected to boost the growth of the regional market.

Asia Pacific is another major leading region likely to witness significant growth in the coming years. China is the leading market in APAC because it has a long history of building massive infrastructure projects like power metro systems. Countries like Mongolia are further strengthening the demand for shotcrete solutions. India is also likely to contribute towards the growth of the regional market because of the rapid urbanization in the region.

The growing interest in large-scale infrastructure projects is further fueling the demand for shotcrete in APAC. The mining sector in India is growing rapidly, and this is expected to widen the scope of the industry. Australia is also emerging as a major contributor to the shotcrete market because of the ongoing tunneling and underground mining projects.

Many other Southeast Asian countries like Indonesia, Vietnam, and Thailand are witnessing a booming construction sector, particularly urban centers, which is also expected to positively impact the growth of the regional market.

Competitive Analysis

The key players in the global shotcrete market include:

• Normet Group
• Mapei S.P.A.
• Lafargeholcim Ltd.
• US Concrete Inc.
• GCP Applied Technologies
• Cemex S.A.B. De C.V.
• Heidelberg cement
• BASF SE
• Grupo ACS
• Sika AG

For instance, Sika AG unveiled a new line for concrete admixture Signuit in Luxembourg in 2023. This new line will be utilized to transport shotcrete accelerators for major projects in Switzerland.

The global shotcrete market is segmented as follows:

By Equipment Segment Analysis

• Special Equipment
• Auxiliary Equipment
• General Equipment

By Applications Segment Analysis

• Repair Works
• Protective Coating
• Water Retaining Structures
• Inground Swimming Pools
• Underground Construction
• Others

By Systems Segment Analysis

• Robotic Spraying
• Manual

By Techniques Segment Analysis

• Dry Mix
• Wet Mix

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America