Concrete Repair Mortars Market

Concrete Repair Mortars Market Size (2023-2028)

The concrete repair mortars market was valued at 3.1 billion in 2022 and is likely to grow at a CAGR of 8.3% in the forecast period of 2023 to become a 5.8 billion in 2028

Drivers and Restraints of the Concrete Repair Mortars Market:

The properties of concrete repair mortars including non-permeability, high tensile strength, stress immunity, etc. are going to boost their demand as an important construction material over the forecasted period. Further, the development of advanced mortar admixtures by key market players is further expected to improve the properties of these repair materials.

The product is used in various areas that require concrete repair, such as structural defects in buildings due to extreme variations in temperature. Also, they also offer resistance against natural phenomena such as corrosion to internal structural supports, resulting from unwanted water inflow. As a consequence, concrete repair mortar prevents the degradation of the structure, thus extending its lifespan. In addition to this, this material has excellent bond strength that results in the increased structural strength of the buildings.

Huge investments by governments across North America, Europe, Asia, the Middle East, and Africa for the development projects of marine structures, long-lasting buildings, and roads are expected to bolster the infrastructure repair and maintenance activities, promoting the global concrete repair market.

Challenges in the Concrete Repair Mortars Market:

The highly advanced material providing superior features is costly. Many industries do not consider such features significant, resulting in being overlooked. In addition to this, extreme usage and adoption of products utilizing Concrete Repair Mortars will gradually reduce as manufacturing and building companies are enhancing their products to increase their longevity and enhance quality, thereby reducing the probability of defect.

CONCRETE REPAIR MORTARS MARKET REPORT COVERAGE:

Concrete Repair Mortars Market Segmentation:

On the basis of Type:

• Polymer Modified Cementitious Mortar

• Epoxy-based

On the basis of Grade:

• Structural

• Non-Structural

On the basis of End-use:

• Building

• Infrastructure

• Automotive

• Marine

• Mining

The automotive segment is growing rapidly, and this growth is expected to be maintained during the period between 2020 and 2025. The application of repair mortar products has also gained popularity in the automobile industry. These materials are available at a comparatively low cost when compared with other materials for fixation activities.

The building and Infrastructure industry has witnessed a huge spike lately and affordable advanced features in construction materials are gaining fame due to its lightweight and ease of handling.  The mining industry has tremendously grown in the past few years, and it has triggered a high demand for the Concrete Repair Mortars industry. Iron & steel makes up about 70.0% of an automobile’s weight and therefore are in constant demand. According to the World Steel Association estimates, the automotive sector accounts for almost 12.0% of global steel consumption

Concrete Repair Mortars Market - By Region:

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa

The Asia Pacific (APAC) region is expected to be the largest market during the forecast period of 2020 and 2025. In this region, China accounts for the biggest market. Construction, retail, transportation, etc. are some sectors where the demand for Concrete Repair Mortars has increased rapidly over the past few years. The high population is exerting pressure on the infrastructure industry to grow and thus the demand for concrete materials is skyrocketing.

The second-largest market in North America. This is because the USA has been the leading producer of Concrete Repair Mortars in the North American region owing to its vast production capabilities and strong economy. There has been an augmenting call for lightweight steel materials compared to a traditional iron. The construction sector is expanding across the world, which is promoting the growth of the business.

Recent Developments in the Concrete Repair Mortars Industry:

• _{^{In May 2019, Sika completed the purchase of Parex (France), a leading maker of façade mortars, tile adhesives, and waterproofing adhesives. This will help the company enter into attractive market segments. Also, it added a new mortar plant at its facility in Addis Ababa, Ethiopia. This is expected to expand the product portfolio offering and increase the manufacturing capacity in the country.}}

• In March 2018, Fosroc introduced its Patchroc250, a patch repair mortar for the repair of the highway. The product offers rapid and permanent reinstatement in thick sections of patches. This is likely to aid the firm to focus on road infrastructure, specifically.

Key Market Players listed in the Concrete Repair Mortars Market are:

1. Sika AG

2. Mapei SPA

3. BASF SE

4. Ohara

5. Saint Gobain

6. Flexcrete

7. Innovilt

Impact of COVID-19 on the Global Concrete Repair Mortars Market:

Coronavirus has had its impact all over the globe. Markets of Europe, North America, and Asia are the most affected by the pandemic. Europe was the early hotspot for this virus and the lockdown affected overall manufacturing activities in the area. Following Europe, North American and Asian countries had to adopt a similar solution, with production activities coming to a halt; the market for Concrete Repair Mortars was left very narrow as the construction sector witnessed a standstill. The market giants have announced the suspension of production because of the reduced call, supply chain disruptions, and to ensure the security of employees in the United States amid this pandemic. As a consequence, the demand for Concrete Repair Mortars has declined in 2020. Recovery in the market is likely to start post-2021.