Underwater Concrete Market (Raw Material - Aggregates, Cement, Admixtures, and Others; Application - Underwater Repairs, Marine, Swimming Pools, Hydropower, Shore Protection, Tunnels, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

A recent report published by Infinium Global Research on the underwater concrete market provides in-depth analysis of segments and sub-segments in the global as well as the regional underwater concrete market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional underwater concrete market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global underwater concrete market. According to the report, the global underwater concrete market is projected to grow at a CAGR of 9.72% over the forecast period of 2021-2027.

Market Insight

The underwater concrete market was valued at USD 139.3 billion in 2020 and expected to reach USD 263.51 billion in 2027, with a CAGR of 9.72% during the forecast period. Underwater concrete was exclusively designed to enhance construction effectiveness and performance in water environments. It is affected by the mix proportioning, aggregate shape and gradation, admixtures, vibration, and placement conditions and can be characterized by concrete resistance to washout, segregation, and bleeding. Underwater concrete is used during any construction where the lower part of the structures are probably to lie underwater.

The improving quality of water construction in developing countries is a key driving factor for the global underwater concrete market. Developing nations such as India have constructed thousands of large dams with the purpose to reduce flood damages, generate hydroelectricity, and increasing and stabilize water supplies. Furthermore, increasing demand for marine construction also driving the market growth. With a mean depth of 3800 m, seventy percent of the surface of planet Earth is water. The oceans are of immense importance in maintaining a reasonable standard of living for an ever-increasing global population. The oceans have a large potential for exploration and for the future cultivation of living resources in the form of fish and plankton. Marine structures are necessary in order to exploit these possibilities which increases the demand for underwater concrete to maintain these structures. However, improper concrete mix design and improper placement are major challenges in the global underwater concrete market. Moreover, the fastest growth in the construction industry is expected to provide growth opportunities to the market players. COVID-19 severely affected the economies of several countries. Many industries have to close down their operations, as the country went under lockdown. Other industries had to reduce their operations, in order to contain the spread among the employees and workers. Cement companies are largely expected to survive the crisis. However, as the pandemic crisis relieved the construction industry came back on track. The abandoned projects were restarted and new projects were planned across the country. Moreover, the governments offered stimulus to the industry in order to boost growth.

Geographically, North America dominates the global underwater concrete market followed by Europe and Asia Pacific region. The U.S. is a major revenue-generating country due to the improving quality of water construction in the country. The European region offers a substantial potential for market growth owing to rapid growth in markets such as U.K and France. As technical awareness in the Asia Pacific market is increasing, the market is likely to expand at a vigorous CAGR over the forecast years. China and Japan are the key markets for underwater concrete in the Asia Pacific region.

Segment Covered

The report on the global underwater concrete market covers segments such as raw material, and application. On the basis of raw material, the sub-markets include aggregates, cement, admixtures, and others. On the basis of application, the sub-markets include underwater repairs, marine, swimming pools, hydropower, shore protection, tunnels, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as Conmix Ltd., HeidelbergCement AG, Tarmac (Lafarge Tarmac), Sika AG, Ashland Inc., BASF SE, Clariant AG, Evonik Industries AG, Five Star Products Inc., Conmix Ltd., and Dyckerhoff Basal Nederland B.V.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the underwater concrete market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.