The global underwater concrete market size is expected to reach USD 229.80 billion by 2025, according to a new report by Grand View Research, Inc. Growing adoption of underwater concrete on account of improved technological efficiency pertaining to the concrete placing is expected to propel growth. The demand for the product is expected to grow on account of the growth in the underwater repairs of the existing underwater structures. In addition, the development of advanced admixtures such as superplasticizers and anti-washout admixtures is expected to translate drive the demand over the next nine years.
The industry exhibits a number of technological advancements pertaining to the chemicals used for improving and adjusting the workability, adhesive strength, and setting time of the cement used in the underwater concrete. In addition, the demand for chemicals such as carboxylates and cellulose is expected to lead to an increase in the strength of the concrete, leading to industry growth.
Rising demand for luxury amenities in the developed economies is expected to result in an increase in the construction of swimming pools, which is expected to fuel growth. The decline in the global price levels of Portland cement is expected to result in a reduction in the price of the product, leading to market growth. The industry is characterized by the presence of a dedicated supply chain network among the raw material suppliers, manufacturers, and construction companies. In addition, the industry exhibits integration with a majority of manufacturers involved in the production of raw materials.
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www.grandviewresearch.com/industry-analysis/underwater-concrete-market
Further key findings from the report suggest
- Hydropower energy harnessing constructions accounted for over 29% of the global consumption volume on account of high hydropower capacity expansion primarily in Asia Pacific and North America
- The use of admixtures in the product accounted for over 11% of the market revenue on account of technological developments leading to the production of advanced admixtures with superior strength, workability, and anti-runoff properties
- The underwater concrete market in China is expected to register a CAGR of over 9% by revenue, from 2016 to 2025 on account of significant marine infrastructure developments coupled with the growing adoption of hydropower as an alternate energy source
- Key companies operating in the industry include CEMEX, Conmix, Heidelberg among others. The companies in the industry are involved in mergers, acquisitions and capacity expansions as the major strategies to increase the market presence and annual revenues
