The substantially rising need for repairing, restoring, and rehabilitating concrete structures in various parts of the world is a key factor driving the demand for concrete repair mortars. Considerable spending on repair and maintenance activities in sectors such as road and infrastructure, marine, utility, and building and construction is propelling the growth of the market.
A detailed report by Transparency Market Research (TMR) titled “Concrete Repair Mortars Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2024”, sheds light on the key growth drivers and various trends impacting the current market outlook and notably emerging prospects.
With several lucrative avenues, the global market for concrete repair mortars is projected to proliferate at a promising pace over the assessment period of 2016–2024. The rapid pace of urbanization in several emerging economies in recent times has led to a staggering rise in building and construction activities, thereby providing a robustly rising demand for concrete repair motors. In a number of developed countries, public-private partnerships are gaining traction across the transport sector and are providing a potential impetus to the growth of the market.
A burgeoning rehabilitation activity for a growing number of existing damaged concrete structures in emerging and developed economies is a notable trend accentuating the market. The intensifying need for concrete rehabilitation activities for marine and tidal areas is also boosting the demand for concrete repair mortars. The rising demand for lightweight mortars in cosmetic repairs is an exciting avenue in the market. The extensive application of low-density concrete repair mortars for general-purpose structural repair activities is accentuating the global concrete repair mortars market.
The demand for fast-setting and well compensated shrinkage repair motors is opening exciting avenues in the concrete repair mortars market. The advent of microfiber modified repair mortars is likely to aid in the rapid expansion of the market. In this regard, polymer-modified cementitious (PMC) mortar is anticipated to collect substantial revenue in the global market. They have emerged as a matter of choice for unfinished or damaged concrete surfaces attributed to their remarkable workability, high adhesion, and amazing tensile strength. In addition, the cost-efficiency of this type of mortar adds to its attractive demand. The attractive demand for corrosion resistant is a notable factor boosting the market. Advances in reinforcement technologies are expected to open new, exciting avenues in the market.
The advent of high-performing concrete repair mortars to be used in overhead applications to ensure a smooth finish is a noteworthy trend expected to create lucrative avenues in the market. The substantially rising demand for fiber-reinforced structural patching mortar is also accentuating the market.
On geographic front, Asia Pacific is expected to rise at an attractive pace. Countries such as India, China, Japan, and Australia are likely to contribute substantial share of the revenue in the regional market. This can be attributed to a rapid rise in construction and infrastructure activities for commercial and residential buildings. The growth in the regional market has increasingly being fueled by the rising spending by governments of these countries to build better infrastructure and increasingly focusing on rehabilitating old and aging concrete structures.
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Some of the players expected to hold a sizeable stake in the market are Remmers Baustofftechnik GmbH, The Euclid Chemical Company, Adhesives Technology Corporation, BASF SE, Flexcrete Technologies Ltd., Pidilite Industries Ltd., Mapei S.p.A., Fosroc International Ltd., Saint Gobain Weber S.A., and Sika AG.