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According to a report by Fortune Business Insights, titled “Underwater Concrete Market Size, Share & Industry Analysis, By Material (Admixtures, Aggregates, Cement, Other), By Application (Hydropower, Marine, Tunnels, Swimming pools, Offshore application, Underwater repairs, Other) and Regional Forecast, 2025-2032” the market will benefit from the presence of several large scale companies across the world. The global underwater concrete market will derive growth from the increasing product applications across diverse underwater applications. The increasing research and development activities associated with the product will emerge in favor of market growth.
Increase in marine construction activities like dock structures, bulk terminals, wind farms, oil platforms, submarine pipelines, bridges, and other marine infrastructure shall foster the industry growth. The increasing spending of governments to increase the operational efficiency and capacity expansion of ports is expected to drive the market. For instance, as 90% of the trade activities of India are carried out by maritime route, there is always need of developing ports and related infrastructure.
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List of companies profiled in the report:
Cemex
Heidelberg Cement
Sika
Conmix
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The recent coronavirus outbreak has had a massive impact on several economies across the globe. Due to the rapid spread of the disease, several countries are looking to implement strict measures with a view to controlling the spread of the disease. The strict measures have affected several businesses in the underwater cement sector. The recent coronavirus outbreak has encouraged manufacturers in this sector to invest massive upfront capitals towards the integration of advanced concepts to recover the economic losses during the past few months.
Underwater concrete is used for building and construction activities as well as other infrastructures that are constantly in contact with water. The special type of concrete finds applications across diverse industry verticals; a factor why this market is growing at a considerable pace in the past few years. The properties of underwater concretes such as high durability and high strength by maintaining its hydrophobic properties at the same time, will fuel the demand for the product across the world. The presence of several largescale companies will emerge in favor of growth of the global underwater concrete market in the foreseeable future. Despite the fluctuations in raw material prices, the market will rise considerably driven by the rising applications and subsequently increasing demand for the product across the world.
Increasing Number of Company Mergers and Acquisitions will Emerge in Favor of Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Accounting to the increasing demand for the product, there is a healthy market competition across the world. Among all factors, the increasing number of company mergers and acquisitions has made the highest impact on market growth. In September 2019, Heidelberg Cement announced that it has completed the acquisition of Elementia S.A.B. Through this acquisition, the company will gain access to the latter’s exceptional portfolio of underwater cement. This acquisition will not just benefit the company but will also have a direct impact on the growth of the overall underwater cement market in the foreseeable future.
North America to Emerge Dominant; Rising Product Demand to Create Several Opportunities for Market Growth
The report analyzes the ongoing market trends across North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America. Among all regions, the market in North America is projected to emerge dominant in the coming years. The rising marine engineering industry, especially in the United States, will have a massive impact on the growth of the regional market. The presence of several large scale local as well as global manufacturers based on this region will have a positive impact on the growth of the regional market. The market in Asia Pacific is projected to rise at the highest CAGR driven by the rising investments in product R&D by large scale companies across this region.
Information Source: https://www.fortunebusinessinsights.com/underwater-concrete-market-102960
Industry Developments:
In September 2019, Heidelberg Cement acquired Keystone Cement plant of Giant cement, a subsidiary of Elementia S.A.B. strengthening its foothold in North America.
In December 2018, Conmix Set up its new blender for the admixture manufacturing in the Sharjah plant to speed up its production.
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