SHOTCRETE MARKET ANALYSIS

The Shotcrete Market size is valued at US$ 7.32 Bn in 2024 and is expected to reach US$ 11.68 Bn by 2031, growing at a compound annual growth rate (CAGR) of 6.9% from 2024 to 2031. Shotcrete is a technique used to pneumatically spray concrete through a hose at high velocity onto the surface. Factors such as growing underground construction activities including tunneling and mining activities and rampant growth in infrastructure development are factors expected to boost the growth of the shotcrete market during the forecast period.

Market Regional Insights:

• Europe held the largest share of over 40.0% in 2024. The global growth in demand for underground drilling, shipping, hard rock extraction, concrete repair, and technical advances in the global shotcrete market is expected to continue during the forecast period. Shotcrete concrete is expected to dominate the market over the forecast period, owing to the widespread demand for retaining structures, repair works, and protective coatings in Europe.
• North America held the second largest share of over 30.0% in 2024. The growth in the demand for underground construction, water retaining structures, repair works, and protective coatings in the shotcrete market.
• Asia Pacific is predicted to witness steady growth across the forecast period. Increasing construction activities, and services across developed countries in Asia Pacific region.

Figure 1. Shotcrete Market Share (%), By Region, 2024

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Analyst’s Views:

The market continues to grow steadily driven by increasing infrastructure development activities worldwide. Rising investments in road construction, tunnels, and other infrastructure projects especially in developing nations of Asia Pacific and Latin America are boosting the demand for Shotcrete. The easy and quick application properties of Shotcrete make it a preferred construction material for repair and rehabilitation of structures. Shotcrete reduces the construction time significantly compared to conventional concrete construction methods. However, the availability of substitutes and fluctuating raw material prices pose challenges to market growth. Concrete pumping and other modern construction techniques provide alternatives to Shotcrete for infrastructure construction. Moreover, volatility in prices of cement and other raw materials increases the input costs for Shotcrete manufacturers. Stringent environmental norms pertaining to concrete dust emissions during Shotcrete spraying also act as a restraint.

Going forward, the increasing adoption of fiber reinforced Shotcrete and the development of innovative formulations present promising opportunities. The market players are focusing on expanding their product portfolios with advanced fiber reinforced variants with higher strength and durability. The Asia Pacific region, led by China, India, and other developing economies, dominates the market currently due to massive infrastructure growth. North America and Europe are also sizable markets driven by renovation activities of aging structures in these regions.

Market Drivers:

Increasing construction activities: The construction industry has seen considerable growth in recent years with increasing infrastructure development activities around the world. This rise in construction operations has directly benefited the shotcrete market as well. Shotcrete, also known as sprayed concrete, is a technique widely used in construction where concrete is pneumatically projected at high velocity onto a surface, such as rock or soil, to form reinforced or unreinforced structural layers.

Various infrastructure projects involving tunnels, underground excavations, slope stabilization works, and repairing of deteriorated concrete structures have highly relied on shotcrete applications. For instance, according to the 2020 data from the United Nations, the total investment in sustainable infrastructure development across nations increased from US$1 Bn in 2020 to US$1.4 Bn in 2022. This includes major investments in transportation, sanitation, energy, and housing projects which extensively employ shotcrete for its advantages such as speed of application in difficult terrains, accuracy in covering large surface areas, and bonding strength.

Rising commercial and public infrastructure projects: Rising commercial and public infrastructure projects are fueling the growth of the market. Shotcrete, also known as sprayed concrete, is increasingly utilized in various construction applications due its versatility and cost effectiveness. The material can be smoothly applied on extensive surface areas in both vertical and horizontal orientations which has helped speed up the construction process.

Many countries worldwide have undertaken ambitious infrastructure development plans and projects in recent years. For example, the Indian government has allocated over US$1.5 Bn for infrastructure development between 2020 and 2023 according to India’s Ministry of Statistics and Program Implementation. This includes efforts towards expanding and modernizing the national highway network, developing new smart cities and urban infrastructure, upgrading the railway systems, constructing more airports, building new townships, and improving water supply and sanitation facilities across the country. Similarly, countries in Southeast Asia, Latin America, Middle East, and Africa have also devoted large public investments towards boosting critical infrastructure like roads, bridges, dams, tunnels, mass transit systems, and utility networks.

Technological advancements in Shotcrete machines and equipment: Technological advancements in Shotcrete machinery and equipment have significantly helped in driving the growth of the market in recent years. Various new methods and process improvements have emerged that allow for faster application of shotcrete. For instance, robotic Shotcrete applications allow for the uniform coverage of large surface areas in a more consistent and controlled manner compared to manual spraying. This has helped increase productivity and quality especially for large infrastructure projects. Furthermore, the development of lighter and more powerful pumps has made it possible to spray shotcrete over greater heights and difficult terrains more efficiently.

Market Opportunities:

• Applications in repair and rehabilitation projects: Applications in repair and rehabilitation projects could provide considerable opportunities for growth in the market. Shotcrete has widely been used for decades for various tunnel repairs, ground support applications, and structural repairs for elements like columns, beams, and foundations. With aging infrastructure across major economies, the needs for repair and rehabilitation are constantly rising. Shotcrete demonstrates advantages over conventional concrete in terms of faster project execution timelines at relatively lower costs.
• Some projects that specifically stand to gain from shotcrete applications include repair of transportation infrastructure like bridges and tunnels. According to the World Bank data, over the period 2017-2020, investments in bridge rehabilitation projects across. The Organization for Economic Cooperation and Development (OECD) countries rose by almost 13% yearly.
• Investments in R&D activities: Applications in repair and rehabilitation projects could provide substantial opportunities for growth in the market. Shotcrete has emerged as a very effective solution for repairing, reinforcing and waterproofing of deteriorated concrete structures like tunnels, bridges, dams, parking structures etc. versus traditional construction methods. It enables fast repair of cracks and other damages, helping reduce the time roads, bridges or other structures remain closed for repair work. According to the World Bank data published in 2022, nearly 25% of the world's infrastructure is in need of rehabilitation, and the construction backlog will continue growing if this aging infrastructure is not properly maintained and repaired.
• Growth in emerging markets: Emerging markets in developing countries present a huge growth opportunity for the global shotcrete market. With rapid urbanization and increasing infrastructure development needs, shotcrete as a construction material is finding wider applications in these regions. Countries like India, Indonesia, Vietnam, Philippines and various nations in Africa and Latin America are witnessing major economic development and construction booms. As per the 2021 data from the World Bank, the total infrastructure spending by developing countries is estimated to be over US$3 Bn annually by 2040. Much of this investment will be towards building new roads, bridges, dams, tunnels, and other civil projects. Shotcrete offers significant benefits over conventional construction methods in such large infrastructure works - it is faster to apply, has high strength, and can mould well even in difficult terrains. 

Global Shotcrete Market Trends:

• Use of fiber reinforced shotcrete: The use of fiber reinforced shotcrete has been rising significantly in the global construction industry over the past few years. Fiber reinforcement improves the quality and performance of shotcrete by increasing its flexibility, toughness, and crack control. A key benefit of fiber reinforcement is its ability to reduce cracking in shotcrete both during the placement process and over time as the material endures stresses. Less cracking means better quality and less repairs required. Many tunneling projects now specify a certain amount of fibers to be included based on the support level needed. For example, a recent expansion of the Delhi Metro system in India utilized over 120,000 cubic meters of fiber reinforced shotcrete for tunnel lining according to the project data released by the National Metro Rail Corporation of India. The fiber reinforcement helped ensure that the shotcrete properly supported the surrounding ground and withstood water pressure without major cracks developing.
• Adoption of robotic shotcreting systems: The construction industry has seen significant adoption of automation and robotics in recent years to improve productivity and worksite safety. Shotcrete application is one area that has greatly benefited from the introduction of robotic shotcreting systems. These computer-controlled machines allow for precise spray application of concrete or mortar at high speeds, eliminating the need for workers to be in hazardous close proximity to dust and falling debris. Leading companies are increasingly investing in robotic technologies to gain competitive advantages over manual shotcreting methods. For example, major infrastructure projects in Europe and Asia Pacific have utilized robotic shotcrete machines to line tunnels up to 3 kilometers in length in just a few months. This level of round-the-clock productivity has not been possible with traditional systems.

Global Shotcrete Market Restraints:

• High capital requirement for machinery and equipment: The high capital requirement for machinery and equipment is one of the major factors restraining the growth of global shotcrete market. Shotcrete application requires specialized machinery like shotcrete pumps, mixers, and robotic spraying systems which have a significant upfront cost. These machinery and equipment are technologically advanced and involve precision engineering to spray concrete at high velocity. For instance, a standard shotcrete pump can cost anywhere between US$100,000 and US$250,000 depending on the brand and horsepower. Similarly, an advanced robotic spraying system for large projects may cost over half a million dollars. The steep machinery prices pose a huge challenge for small and mid-sized construction companies to adopt shotcrete as a construction technique.
• Counter Balance: To counter balance this restrain, leasing and financing options can be used. Companies can explore leasing or financing options to mitigate the initial capital outlay for acquiring shotcrete machinery and equipment. This approach allows for the acquisition of necessary assets while spreading the cost over time, thus easing the financial burden.
• Lack of skilled workforce: The lack of skilled workforce has been one of the major restraints for the growth of the global shotcrete market. The shotcrete process requires professionals who are properly trained in operating shotcrete equipment and machinery. It also needs skilled workers who understand the application techniques, mix design procedures, and safety practices related to shotcrete construction. However, there is an acute shortage of such trained and skilled workers globally.
• This skill gap is also restricting contractors and construction firms from taking up large and complex shotcrete projects. They often hesitate to commit deadlines without ensuring the availability of requisite manpower. The delayed projects and missing of timelines affects the overall growth prospects of the market. According to 2020 data from the International Tunneling and Underground Space Association, nearly 60% of tunnel construction projects faced challenges in 2020-21 due to the lack of trained personnel globally (‘Review of the Worldwide Status of Tunneling’, 2022). Owing to workforce constraints, many planned infrastructure developments could not incorporate the use of shotcrete to full potential.
• Counterbalance: To counterbalance this challenge, the market offers lucrative opportunities in the form of training and development programs to enhance the skills of the existing workforce and attract new talent to the industry. Additionally, advancements in shotcrete technology have led to the development of innovative products and services that require less skilled labor such as automated shotcrete machines and robotic shotcrete application systems.

Figure 2. Shotcrete Market Share (%), By System, 2024

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Recent Developments:

• In February 2021, Sika launched a new recycling procedure for old concrete where old concrete is distributed into portions of sand, stone, and limestone by a straightforward and efficient process, which also binds around 60 kg of CO2 per crushed material. With the brand reCO2ver, the renaming will considerably decrease the environment for the construction industry.

Top Companies in the Shotcrete Market

• BASF SE
• Heidelberg Cement
• Grupo ACS
• Lafargeholcim
• Cemex
• Sika AG
• GCP Applied Technologies
• S. Concrete
• Mapei
• Normet

Definition:  Shotcrete, also known as gunite or sprayed concrete, is a construction material that is conveyed through a hose and pneumatically projected at high velocity onto a surface. It is usually an all-inclusive term for both the wet-mix and dry-mix versions and can be sprayed onto any type or shape of surface, including vertical or overhead areas. Shotcrete is commonly used to line tunnel walls, in mines, subways, and automobile tunnels, and it is known for its high compressive strength, durability, water tightness, and frost resistance. It is a versatile material that can be used for a variety of applications, including reinforcing both temporary and permanent excavations, as well as in the construction of artificial rock walls, zoo enclosures, canopy roofs, pools, and dams.