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Concrete repair mortars are used to restore, repair and reinforce infrastructure. They protect infrastructures from structural damage which are liable to occur due to water and chemical intrusion into the structure. Since, mortars are a combination of cementitious materials, water, and other granular aggregates, the growth of the global concrete repair mortar market is aided by the growth of the cement market. In 2018, the total production of cement globally was 4.3 billion metric tons.
The construction industry is also a major driver of the concrete repair market and is expected to grow at CAGR of around 4% in the forecast period of 2020-2025. Globally, the construction industry is witnessing a robust growth with both public and private players investing heavily in infrastructure projects. The rising construction repair sector, buoyed by the increasing preference for maintaining and repairing old infrastructure over building new infrastructure from scratch, is driving the demand for concrete repair mortars. These mortars fortify and restore infrastructure by protecting against corrosion, cracks, and water and chemical damage. They are also used for cosmetic repairs and reprofiling of infrastructure.
Transportation infrastructure, which is also a key application sector for concrete repair mortars, is witnessing a healthy growth with governments in emerging economies increasingly focusing on infrastructural developments. Rapid population growth globally has added to the increased traffic leading to the rising demand for transportation infrastructure. The compounding traffic has also put an added pressure on the existing infrastructure, which is in constant need of upkeep. Concrete repair mortars prolong the life and sustainability of these transportation infrastructures by increasing their structural strength while also repairing the wear and tear caused by fluctuating weather conditions. They also repair structural damage like potholes, ensuring that transportation infrastructures like roads remain safe and durable.
The Asia Pacific is a leading market for transportation infrastructure and is also a key market for concrete-repair mortars. The Asia Pacific market is expected to keep growing in the coming years with the rapidly rising construction and infrastructure sectors, especially in countries like China and India. In mature economies like the US, Germany, and Australia consumers are expected to spend more on the repair and upkeep of old infrastructure, adding further impetus to the concrete repair market.
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According to EMR, the key players in the global concrete repair market are Sika AG, Fosroc International Limited, Saint-Gobain Corporation, BASF SE, Mapei S.P.A., Pidilite Industries Limited, Flexcrete Technologies Ltd, and The Euclid Chemical Company. The report provides market information about the latest developments like market share, capacity expansions, plant turnarounds, and mergers and acquisitions.
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