Shotcrete Accelerator Market - Forecast(2022 - 2027)

Shotcrete Accelerator Market Overview

Shotcrete Accelerator Market size is forecast to reach $1.3 billion by 2026, after growing at a CAGR of 7.6% during 2021-2026. Shotcrete Accelerator is a chloride free, liquid and dry powder form, thixotropic, Alkaline Aluminate, Alkaline Silicate, and non -caustic accelerator mainly is used in shotcrete applications like tunnel walls, in mines, subways, and automobile tunnels. Shotcrete or sprayed concrete are mortars that are sprayed through a nozzle at high speed on the applicant surface by maintaining a certain distance like 1 – 2 meters. The growth in tunnel construction due to rapid urbanization and the growing need for bridge maintenances in emerging and developed economies is driving the growth of the market. The introduction of novel shotcrete materials such as chemical admixtures, supplementary cementitious materials, and reinforcement fibers for the longevity of structural engineering is also contributing to the growth of Shotcrete Accelerator market share globally. Whereas, the growing underground construction such as mining and tunneling and crude storage tanks are also driving the market growth.

Covid-19 Impact

The COVID-19 pandemic continues to unfold every day with severe impact on people, communities, and businesses. The growing pandemic situation has led to the weakening demand for shotcrete accelerators. The pandemic has disrupted operations across industries like mining sector construction projects along with transportation of raw materials and finished products. The pandemic is likely to reduce investment in construction and infrastructure project, which is significantly deter the shotcrete accelerator market growth. 

Report Coverage

Key Takeaways

• The Middle East and Africa are expected to drive the market growth, especially UAE, Saudi Arabia owing to the growing investing in developing new cities, bridges, and tunnels.
• Covid-19 has impacted the construction industry globally, which will hinder the growth of shotcrete accelerator market.
• There is a huge waste of mortar during the application process that makes it less economical, and will likely deter the market's growth.
• Cement setting times can be significantly reduced by the use of accelerators in the formulation. The introduction of a sodium/calcium aluminate and Alkaline Silicate into the cement mortars accelerators the reaction speed with water, which in turn reduces setting times and increases early age compressive strength development and will provide improved performance and suitability.

Figure: APAC Shotcrete Accelerator Revenue, 2020-2026 (US$ Billion)

Shotcrete Accelerator Market Segment Analysis - By Type

Alkali Free Curing Accelerator segment held the largest share of more than 30% in the Shotcrete Accelerator Market in 2020. Alkali free shotcrete are widely used in tunnel and mining construction for a structure stabilization, as they improve the concrete’s adhesion to the substrate, decrease the rebound, and facilitate vertical projection. Alkali Free shotcrete are more environmentally friendly and are not corrosive, unlike the alkalis, they are dosed accurately and requires less cement, which will further drive the market's growth. Alkali free shotcrete is also non-caustic or non-toxic available in the liquid/dry powder form, which makes them extremely safe for all applications, even underground or in other confined areas. Furthermore, the use of alkali-free accelerator helps to increase the durability and quality of the concrete structures as compared to the alkaline accelerators that provoke losses in the mechanical resistance of the concrete.

Shotcrete Accelerator Market Segment Analysis - By Process

The wet Process segment held the largest share of more than 55% in the Shotcrete Accelerator Market in 2020 and is projected to witness significant growth during the forecast period. This growth is attributed to the growing use of wet processes across underground construction and mining stabilization. Moreover, the wet process provides better bond strength and requires lesser manpower which makes it more cost-effective as compared to the dry process. In the wet shotcrete process, premixed concrete is dumped into the pneumatic machine, then compressed air is introduced at the nozzle to drive the mixture out onto the receiving surface. This process generally produces fewer recoils, wastage, better industrial health & safety, and dust particles as compared to the dry process. Hence, the wet process is the preferred method for activities such as mining and tunneling, where a huge amount of concrete is required for stabilization. Structures constructed with the wet process have superior quality and are more stable as compared to the dry process, which is the major factor driving the growth of this segment, which in turn contributing to the growth of the shotcrete accelerator market.

Shotcrete Accelerator Market Segment Analysis - By Application

Tunnel Support and Lining segment held the largest share of more than 30% in the Shotcrete Accelerator Market in 2020. The use of shotcrete accelerators in tunnel support and lining helps in stabilizing the tunnel structure and increases its durability and quality. The increase in tunnel construction due to rapid urbanization in developing economies and growth in construction repairs in developed countries are set to drive the shotcrete accelerator market. The growing infrastructure needs in the developing economies to reduce the logistic cost of goods, delivery time, ease of mobility, and travel distance further drive the growth of underground construction. Moreover, growing uses of Alkaline Aluminate, Alkaline Silicate accelerator for underground construction like mining and tunneling, where a larger volume of shotcrete accelerator is consumed is also contributing to the market growth.

Shotcrete Accelerator Market Segment Analysis - By Geography

Asia-Pacific segment is projected to witness the highest CAGR of 9.2% in the Shotcrete Accelerator Market during the forecast period. This growth is attributed to the growing construction industry across India and China in the region. An increase in demand for infrastructure to support its huge population and economy is driving the market's growth in the region. As per Indian Brand Equity Foundation (IBEF) report, India requires investment worth US$ 777.73 billion in infrastructure by 2022 to have sustainable development in the country. Growing infrastructure and the need for metals as well as minerals in the various industries are expected to driving the mining industry in the region, which is boosting the shotcrete accelerator market. Furthermore, the presence of large coal mines in China, India, and Australia are also contributing to the growth of this market in the APAC region.

Shotcrete Accelerator Market Drivers

Rapid Urbanization and Infrastructure Development

The growing urbanization and infrastructure development coupled with the population growth in the developed and developing nation is driving the market growth. For instance, as per the United Nations report, around 55% of the world population lived in urban areas in 2018 and is expected to reach 68% by 2050. As the urban population expand, the demand for housing and infrastructure projects also rises, which will boost the market's growth. Moreover, According to Organization for Economic Co-operation and Development (OCED) report, in 2017, the global infrastructure investment needs of USD 6.3 trillion per year over the period 2016-30 to support growth and development. In addition, according to the Oxford Economics report, it estimates global infrastructure investment needs to be $94 trillion between 2016 and 2040 to support the urban population and boost the economy. The European countries will drive the market due to the rise in underground construction and tunneling projects in the region. As per European Union policy the decision to upgrade Trans European Network (TREN) a 2100 km of tunnel network across Europe by 2030, for better connectivity and mobility of goods in the region. Thus, the growing population and heavy investment in infrastructure projects will propel the market for shotcrete accelerator during the period.

Mining Activities and Advancement in New Technology are driving the Growth

Shotcrete accelerator is widely used in mining activities to support the wall or the slope. Mining companies or contractors rely on the quick, effective method of pneumatically applied concrete to further drive the demand for shotcrete accelerator. Whereas, the growing energy need coupled with the rising population further drive the mining activities, which creates a demand for shotcrete accelerator. For instance in February 2020, the U.S. Geological Survey announced that the U.S. mines produced around $86.3 billion in minerals in 2019, an increase of 3% from the revised 2018 production totals. Furthermore, the advancement in shotcrete technology improves the working environment and labor efficiency. The use of high-pressure hydraulic shotcrete technology can greatly reduce the construction cost due to its simplicity and has a good promotion and application value, which will further drive the market's growth.

Shotcrete Accelerator Market Challenges

Material Rebound and Skilled Labours

Rebound is the shotcrete material that bounces off the shooting surface. Rebound for dry mix shotcrete can be expected to be at least 20 percent of the total material passed through the nozzle, which causes material loss and is not economically viable.  This process also causes dusting formation, which makes it a difficult working environment for the workers. Moreover, this process needs skilled and experienced labor to operate it and the shortage of skilled labor deters the market growth and the initial cost of shotcrete sprayers is high which will hinder the market's growth.

Shotcrete Accelerator Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Shotcrete Accelerator Market. Major players in the Shotcrete Accelerator Market are Denka Co. Ltd., Shotcrete Technologies Inc., Basalite Concrete Products LLC, Silkroad C & T Co., Ltd., Sika Ltd., MAPEI S.P.A, CHRYSO India Pvt. Ltd., The Euclid Chemical co., GCP Applied Technologies Inc., Muhu Construction Materials Co., Ltd., Multicrete Systems Inc., and among others.

Acquisitions/Technology Launches

• In November 2020, Sika AG, started production of shotcrete admixtures at its main plant at Gournay-en-Bray, north west of Paris. The set accelerator marketed under the Sigunit® brand is used primarily in tunnel construction. The company aims to tap the business potential in France and in north and Western Europe and facilitate challenging shotcrete work in mining and tunnelling projects with their specialty products.

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