The global Underwater Concrete Market size was USD 5.05 Billion in 2022 and is expected to reach USD 11.24 Billion in 2032, and register a revenue CAGR of 9.3% during the forecast period. Rising demand for underwater construction projects including offshore drilling, underwater pipelines, and marine transportation is one of the major factors driving the market revenue growth. The need for sophisticated underwater concrete technology is also being driven by rising demand for visually beautiful underwater buildings including bridges, dams, and tunnels.
The market revenue growth is a result of improvements made in the creation of specific concrete mixtures that can withstand high water pressure and corrosive marine environments. The demand for high-performance underwater concrete is also being driven by the requirement for resilient and long-lasting underwater structures. Moreover, artificial reefs made from underwater concrete are utilized to promote sustainable fishing methods and provide habitats for marine life, thus driving revenue growth of the market.
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Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as license agreements, partnerships, merger and acquisitions, collaborations, R&D investments, and joint ventures to gain robust footing in the market.
Major Companies:
- HeidelbergCement AG
- Sika AG
- Cemex S.A.B. de C.V.
- MAPEI S.p.A.
- CONMIX Ltd.
- Fosroc International Limited
- Titan America LLC
- Kryton International Inc.
- The Euclid Chemical Company
- BASF SE
- Arkema Group
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Underwater Concrete Market Segmentation:
By Type Outlook:
- Pre-packaged Concrete
- Pumping Concrete
- Underwater Shotcrete
- Others
By Application Outlook:
- Marine Constructions
- Repair Works
- Others
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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