Shotcrete Accelerator Market Report

Market Insights

"The shotcrete accelerator market is expected to grow at a healthy CAGR of 7.8% during the forecast period."

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A shotcrete accelerator is a chemical admixture that is added to shotcrete to speed up the hardening process. Concrete that has been sprayed onto a surface at high pressure is known as shotcrete. Accelerators speed up the cement in concrete's hydration process, causing the concrete to harden more quickly. Shotcrete's early strength development, enhanced substrate adherence, decreased rebound, and higher durability all benefited from its use. These accelerators make it possible to complete projects more quickly and with shorter schedules.

Market Dynamics

Market Drivers

The rising popularity of public-private partnerships and the expansion of research and development efforts to enhance existing products, both of which will pave the path for market expansion, furthermore, the market is being driven by the increasing demand for shotcrete in the construction and infrastructure industries, as well as the mining sector. Shotcrete is a fast-hardening material that is used to create protective linings for tunnels, restore buildings, and stabilize slopes. It is also used in concrete repair and lightweight structures. However, the growth of the market is being hampered by the high cost of shotcrete accelerators and the limited availability of raw materials.

COVID-19 Impact

The mining and construction industries are two of the ones that are most negatively impacted by COVID-19. Many projects were put on hold in 2020 as a result of financial constraints, a labor shortage, and lockdown laws. An exodus of migrant laborers, sometimes referred to as employees in the informal sector, caused by a ban on interstate travel severely disrupted the supply chain. Construction material usage declined as a result, along with supply and demand. However, developing economies like China and India are expected to increase in the upcoming years, which would expand the market for shotcrete accelerators in the construction industry. Due to this, the market is anticipated to expand after the recovery.

Segment Analysis

By Type

"The alkali-free segment accounted for the largest market share."

The shotcrete accelerator market is segmented into alkali-free, alkaline aluminate, and alkaline silicate. With the lowest decline in the demand for profile seals by the pandemic, alkaline-free is expected to remain the largest type in the market during the forecast period. Due to the increase in the concrete's adhesion to the substrate, reduced rebound, and enabling vertical projection, alkali-free shotcrete is frequently employed in tunnel and mine construction to stabilize a structure. As opposed to alkalis, alkali-free shotcrete is less corrosive, more ecologically friendly, can be precisely dosed, and uses less cement, all of which will contribute to the market's further expansion. Alkali-free shotcrete is also available in liquid or dry powder form, making it non-caustic or non-toxic. This makes it exceptionally safe for all applications, including those that are underground or in other restricted spaces.

Process Trends

"The wet mix processes segment accounted for the largest market share."

The market is segmented into wet mix processes and dry mix processes. The wet mix process is expected to remain the dominant as well as the faster-growing material type in the market during the forecast period. In mining and tunneling operations, wet-mix processes have a bigger market share than dry-mix processes. In comparison to the dry mix technique, wet mix offers superior bond strength and requires less labor, making it more cost-effective.

Application Trends

"The construction repair works segment accounted for the largest market share."

The market is segmented into mining, tunneling, construction repair works, water retaining structures, and others. Construction repair works are expected to remain the dominant as well as the faster-growing material type in the market during the forecast period. Due to rapid urbanization and the increasing population in emerging economies, the growing need for infrastructure activities. For Instance, According to the US Census Bureau, construction spending in the United States in both private and public construction in 2020 was around USD 1,400 billion.

Regional Insights

"Asia-Pacific accounted for the largest market share."

Asia-Pacific is expected to remain the largest market for shotcrete accelerators during the forecast period. Due to an increase in demand for construction activities from countries like China and India. Moreover, the aforementioned factors, coupled with government support, are contributing to the increasing demand for the shotcrete accelerator market. For Instance, the Indian government allocated USD 63 billion for the infrastructure sector in 2019-20, and it is planning to spend USD 1.4 trillion over the next five years. Furthermore, the construction industry in India received a major boost from the investment of USD 1.4 billion through private equity and venture capital investments in October 2019. Furthermore, the Chinese government approved 26 infrastructure projects in 2019 with an estimated investment of nearly USD 142 billion, which are scheduled to be finished by 2023, according to the National Development and Reform Commission of China. The market for a shotcrete accelerator is anticipated to be driven by rising infrastructure expenditure and the construction of intricate constructions.

North America and Europe are also likely to create sizeable opportunities in the coming five years, driven by an expected rebound in the construction and infrastructure industries. Projects such as the New Building Canada Fund, which commits over billion to the construction sector in Canada, this is fueling the growth of the market.

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Key Players

The following are the key players in the shotcrete accelerator market (arranged alphabetically).

• BASF SE
• Chryso SAS
• Cico Group
• Denka Company Ltd.
• Fosroc
• GCP Applied Technologies, Inc.
• Mapei S.P.A
• Normet Oy
• Sika AG
• The Euclid Chemical Company

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s shotcrete accelerator market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

The shotcrete accelerator market is segmented into the following categories:

By Type

• Alkali-Free
• Alkaline Aluminate
• Alkaline Silicate

By Grade Type

• Liquid
• Powdered

By Process Type

• Wet Mix Process
• Dry Mix Process

By Application Type

• Mining
• Tunneling
• Construction Repair Works
• Water Retaining Structures
• Others

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and The Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

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Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com