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New York, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Concrete Repair Mortars Global Market Report 2022' -
The global concrete repair mortars market is expected to grow from $2.56 billion in 2021 to $2.77 billion in 2022 at a compound annual growth rate (CAGR) of 8.42%. The concrete repair mortars market is expected to grow to $3.58 billion in 2026 at a compound annual growth rate (CAGR) of 6.64%.
The concrete repair mortars market consists of sales of concrete repair mortars by entities (organizations, sole traders, and partnerships) that refer to a type of material used to repair portions of concrete in concrete structures that have cracked and delaminated from the substrate due to reinforcement corrosion. These mortars protect concrete buildings against chemical anchoring, cracking, and corrosion while retaining moisture.
The main types of concrete repair mortars include cementitious concrete repair mortars, epoxy concrete repair mortars, and epoxy resin-based concrete.The cementitious concrete repair mortars refer to a cement-based binding material used to stick building blocks like bricks, stones, and other similar building materials together.
It is composed of sand, a cement binder, water, and possibly other additives.It is used for constructing and repairing walls, fences and walkways.
Both structural and non-structural concrete repair mortars are used by end-users ranging from the utility, roads and infrastructure, buildings, and others. The main applications of concrete repair mortars include hand application, pouring, levelling and surface coating.
Asia Pacific was the largest region in the concrete repair mortars market in 2021, it is also expected to be the fastest-growing region in the forecast period. The regions covered in the concrete repair mortars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The concrete repair mortars market research report is one of a series of new reports that provides concrete repair mortars market statistics, including concrete repair mortars industry global market size, regional shares, competitors with a concrete repair mortars market share, detailed concrete repair mortars market segments, market trends and opportunities, and any further data you may need to thrive in the concrete repair mortars industry. This concrete repair mortars market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The rising demand for repair and maintenance of existing buildings and road infrastructures is contributing to the growth of the concrete repair mortars market.Due to the degradation of materials and structures caused by the combined effect of loads and external conditions, there is an increasing demand for building infrastructure repair and maintenance.
Repairing and upgrading a structure is preferable to destroying and rebuilding as it is cost-effective and economical.There will be a significant utilization of concrete repair mortars in response to the rising demand for repair and maintenance of existing buildings and road infrastructures as they are an essential part of the repair and maintenance of concrete structures.
For instance, according to the Construction Output Price Index (OPIs) dataset by the UK Office for National Statistics, in the UK, the increase in monthly construction output in March 2022 was led by increases in both repair and maintenance (3.0%) and new work (1.0%). The largest contributors to the monthly rise at the sector level were private home repair and maintenance (5.8%) and private commercial new work (4.0%). Therefore, the rising demand for repair and maintenance of existing buildings and road infrastructures is expected to boost demand for concrete repair mortars during the forecast period.
Product innovation is a key trend gaining popularity in the concrete repair mortars market.Key players are focusing on launching innovative concrete repair mortars, which are water-based, environmentally friendly, and utilize low hazard formulations with zero usage of VOCs (volatile organic compounds.
These solutions are focused on enabling high build and high strength structures as well as reduced carbon footprint.Innovative concrete repair mortars offer structural strength, reinstatement of structural integrity, long life protection, and extension.
These products provide key players with a competitive edge and enhance their market position.For instance, in July 2021, Sika UK, a UK subsidiary of Sika Group, launched a low-carbon concrete repair mortar, which is manufactured utilizing low-carbon and recycled materials and provides long-term effective performance on various high-strength applications.
These future sustainable concrete repair mortars are designed to produce fewer particle emissions and provide improved repair performance.
In June 2019, Sika AG, a Switzerland-based specialty chemicals firm that specializes in the research and manufacture of bonding, sealing, damping, reinforcing, and protective systems and solutions for the construction and automotive industries, acquired King Packaged Materials Company for an undisclosed amount.This acquisition expands Sika's geographical presence in Canada and improves its growth in the markets such as home improvement, construction, mining, and tunneling.
King Packaged Materials Company is a Canada-based manufacturer of dry shotcrete and mortars for concrete repair.
The countries covered in the concrete repair mortars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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