Concrete Repair Mortars Market Size Worth $3.6 Billion By 2027

June 2020 | Report Format: Electronic (PDF)

Concrete Repair Mortars Market Growth & Trends

The global concrete repair mortars market size is expected to reach USD 3.6 billion by 2027 registering a CAGR of 4.7%, according to a new report by Grand View Research Inc. Economies across the globe are emphasizing on maintaining the transport infrastructure to reduce the overall transportation time and cost, thereby driving the market growth. Governments globally are increasing their infrastructure spending as a part of economic development strategies and also to cater to the transportation requirements of the rising population.

The aforementioned trend is likely to propel the infrastructure construction, thereby boosting the periodic maintenance activities. Hence positively impacting the repair materials market growth. In 2015, United Member states signed a 2030 Agenda for Sustainable Development that aims to significantly reduce the global number of deaths and injuries from road traffic crashes.

This initiative has made road infrastructure improvement and maintenance activity as a prime focus for the government bodies across the globe. Key market players are increasingly investing in R&D to introduce advanced concrete repair mortars with low production costs and a broader range of applications. In addition, advancements in the nanotechnology field are also supplementing these R&D activities initiated by major companies.

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Concrete Repair Mortars Market Report Highlights

PMC type segment is expected to register the fastest CAGR of 4.8% over the forecast period owing to superior toughness, resistance to chemicals, considerable durability, and waterproofing characteristics offered by these materials
Hand/troweling application method accounted for majority of the demand in 2019 on account of convenient usage and applicability in horizontal and vertical surfaces
Structural grade segment is expected to witness the maximum CAGR over the forecast period due to rising focus on improvement and maintenance of transport infrastructure across the globe
Asia Pacific was the leading regional market in 2019. It is projected to expand further at the fastest CAGR from 2020 to 2027 due to increased infrastructure spending by several governments across the region
Road infrastructure is estimated to be the largest end-use segment on account of high demand for road repair activities