Underwater Concrete Market to Grow with a CAGR of 5.19% through 2028
Increasing demand for offshore oil and gas exploration
and production and expansion of the global infrastructure industry are likely to
drive the market in the forecast period.
According to TechSci Research report, “Underwater
Concrete Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Underwater Concrete Market
stood at USD 2.08 billion in 2022 and is anticipated to grow with a CAGR of 5.19%
in the forecast period. One of the key drivers of the global Underwater
Concrete market is the expanding offshore renewable energy sector, particularly
the development of offshore wind farms. This driver has several significant
impacts such as, Offshore wind turbines require sturdy foundations to support
the massive turbines in the challenging marine environment. Underwater concrete
is crucial in constructing these foundations, including monopiles, jackets, and
gravity-based structures. The increasing
global emphasis on clean and sustainable energy sources has led to a surge in
offshore wind projects. As these projects continue to multiply, the demand for
underwater concrete for their construction is expected to grow substantially. The
growth of the offshore renewable energy sector is driving innovation in
underwater concrete technology. Researchers and manufacturers are developing
specialized concrete formulations and installation techniques to meet the
unique demands of offshore wind projects, such as corrosion resistance and durability
in seawater.
The development and protection of coastal
infrastructure represent another significant driver of the global Underwater
Concrete market. Coastal areas are susceptible to erosion, sea-level rise, and
extreme weather events, necessitating the construction of resilient structures.
Here's how this driver impacts the market such as Underwater concrete is
essential for building coastal defense structures such as seawalls,
breakwaters, and revetments. These structures mitigate the impact of waves and
storms, protecting coastal communities and infrastructure. Ports and harbors
are crucial for global trade, and their expansion and modernization often
involve underwater concrete construction. Quay walls, berths, and harbor
structures are integral components of port infrastructure that rely on
underwater concrete. Coastal projects often take place in environmentally
sensitive areas. To minimize ecological disruption, underwater concrete
formulations are being developed to meet strict environmental regulations,
focusing on reduced environmental impact and improved sustainability.
In summary, the expansion of the offshore renewable
energy sector and the ongoing need for coastal infrastructure development and
protection are two significant drivers propelling the global Underwater
Concrete market. These drivers reflect the growing demand for durable and
environmentally responsible underwater concrete solutions to support critical
marine and coastal projects.
Browse over XX market data Figures spread
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Concrete Market.”
The Global Underwater Concrete Market is segmented
into raw material, application and region.
Based on type. The cement segment had the largest
market share in 2022 & expected to maintain in the forecast period. Portland
cement has traditionally been the dominant type of cement used in underwater
concrete. Its versatility, availability, and compatibility with various
underwater construction applications have made it a preferred choice. In recent
years, there has been an increased focus on developing specialized cement
formulations for underwater concrete. These formulations aim to enhance the
durability, corrosion resistance, and overall performance of underwater
structures. Given the exposure to saltwater and harsh marine environments,
corrosion resistance is a paramount consideration. Cement manufacturers are
producing blends with additives that improve resistance to chloride ingress and
sulfate attack. Supplementary cementitious materials (SCMs) such as fly ash,
slag, and silica fume are being used in combination with Portland cement to
enhance the properties of underwater concrete. These materials can improve
workability, reduce heat generation during curing, and offer environmental
benefits.
Based on application, The Marine segment had the largest
market share in 2022 and is projected to experience rapid growth during the
forecast period. The marine segment in the global Underwater Concrete market is
closely tied to the expansion and modernization of port and harbor
infrastructure. Ports are essential for global trade, and underwater concrete
plays a crucial role in the construction of port facilities, including quay
walls, breakwaters, and piers. The marine segment is witnessing significant
growth due to the development of offshore wind energy projects. Underwater
concrete is used for the construction of wind turbine foundations, transition
pieces, and substations in offshore wind farms. The oil and gas industry
continues to invest in offshore exploration and production. Underwater concrete
is employed in the construction of offshore drilling platforms, pipelines, and
subsea structures, supporting the global demand for energy resources. Underwater
concrete is vital for securing subsea cables and pipelines on the ocean floor.
These cables and pipelines are essential for telecommunications, energy
transmission, and resource transport, further driving the marine segment.
Major companies operating in Global Underwater
Concrete Market are:
- Sika AG
- RPM International Inc
- Mapei S.P.A
- Fosroc International Ltd
- HeidelbergCement AG
- Baltic Industries
- Buzzi Unicem S.p.A
- Cemex SAB de C.V.
- LafargeHolcim Ltd
- Sankosha Co. Ltd
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“The Global Underwater Concrete market is expected to
rise in the upcoming years and register a significant CAGR during the forecast
period. The global
Underwater Concrete market is significantly driven by the rapid growth of
offshore renewable energy ventures, particularly offshore wind farms. These
projects demand robust underwater concrete foundations to secure massive wind
turbines in challenging marine environments. As the world embraces cleaner
energy sources, the offshore wind sector continues to flourish, bolstering the
demand for underwater concrete. This driver spurs innovation in concrete
technology, fosters market growth, and positions underwater concrete as a
critical component in sustainable energy infrastructure, offering lucrative
opportunities for industry stakeholders worldwide. Therefore, the market of Underwater
Concrete is expected to boost in the upcoming years.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Underwater Concrete Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast Segmented
By Raw Material (Admixtures, Aggregates, Cement),
By Application (Marine, Hydro Projects, Tunnels, Underwater Repairs, Swimming
Pools, Others), By
Region, By Competition Forecast
& Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Underwater Concrete Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Underwater
Concrete Market.
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