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Concrete is the commonly used key material used for construction. Underwater concrete is a special type of concrete used to build up complex infrastructures which are to be in contact with water. They can be hydro projects, dams, bridges, ports, platforms, swimming pools and other. It exhibits hydrophobic properties with exceptional strength. There has been improvement in the manufacturing technology of the underwater concrete making it applicable for certain applications where normal concrete does not work.
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. Moreover, the growing demand from end-use sectors like oil & gas and power is expected to drive the market.
However, the fluctuations in the price of raw material used to manufacture underwater concrete are likely to hinder the market growth.
Key Market Driver -
Increasing demand from construction industry for underwater application.
Key Market Restraint -
Volatility in prices of raw materials.
Based on the material, the market is segmented into admixtures, aggregates, cement and other. Based on application, the market is segmented into hydropower, marine, tunnels, swimming pools, offshore application, underwater repairs, and other.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The key players operating in the Underwater Concrete market are the Cemex, Heidelberg Cement, Sika, Conmix, Five star product and others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to be the largest market for underwater concrete in terms of value attributed to the improving marine engineering. Asia Pacific is the fastest growing market due to the various government initiatives for developing ports and offshore infrastructures for trade along with underwater metro project in countries like India . Europe is expected to show significant growth. The Latin America and Middle East & Africa is expected to show sluggish growth.
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