The global concrete repair mortar market revenue was around US$ 3.1 billion in 2023 and is estimated to reach US$ 5.3 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.6% during the forecast period from 2024 to 2032.
Concrete repair mortar is a specialized building material created to restore and rehabilitate deteriorated or damaged concrete surfaces. It is formulated to deliver structural integrity by fixing spalls, cracks, and defects. It effectively bonds to existing concrete, stopping delamination with high compressive strength and sticking properties.
Factors Influencing Market Growth
- The development of commercial and public infrastructure across the globe is a major factor in enabling the growth of the concrete repair mortar market.
- The growing global inflation is a new major obstructing factor for the growth of the entire concrete repair motor industry.
- Government agencies frequently start maintenance and repair programs to lengthen the life of infrastructure. These programs entail significant expenditures on repair supplies, such as concrete repair mortar. Such occurrences accelerate the expansion of the concrete repair mortar market during the forecast period.
Impact of COVID-19
The concrete repair mortar market has seen different obstacles in its regular functions due to the COVID-19 pandemic. Due to travel restrictions and lockdowns charged to restrain the spread of the virus led to supply chain disturbances. Manufacturers encountered problems in sourcing raw components and materials. Uncertainties in shipments and logistical blockages impacted the timely delivery of materials, contributing to project waits and lowered functional efficiency.
Regional Analysis
In 2023, Asia-Pacific dominated the global concrete repair mortar market in terms of revenue and is likely to dominate the market during the forecast period. This is because many countries in this region were funding heavily in infrastructure development, including the maintenance and construction of bridges, roads, airports, and other critical infrastructure. This led to a boost in demand for concrete repair mortar to rehabilitate and expand the lifespan of existing structures.
Leading Companies
The leading prominent companies profiled in the global concrete repair mortar market are: -
- Alccotech Building Materials Pvt Ltd.
- BASF SE
- Fosroc, Inc.
- Laticrete International, Inc.
- MAPEI S.p.A.
- Perma Construction Aids Pvt. Ltd.
- Saint Gobain
- Sika AG
- W. R. Meadows, Inc.
- Xypex Chemical Corporation
- Other prominent key players
Segmentation Outline
The global concrete repair mortar market segmentation focuses on Type, Application, End User Industry, and Region.
Segmentation based on Type
- Cementitious
- Epoxy
Segmentation based on Application
- Structural
- Non-Structural
Segmentation based on End User Industry
- Building Construction
- Infrastructure
Segmentation based on Region
- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa