Market Size of Shotcrete Accelerator Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Shotcrete Accelerator Market Analysis
The shotcrete accelerator market is projected to register a CAGR of about 6% during the forecast period (2021-2026).
The construction industry and mining industry are some of the industries that are badly impacted by COVID-19. Because of a lack of funds, labor shortage, and lockdown regulations, many projects were halted in 2020. Due to a ban on inter-state travel, an exodus of migrant workers, also known as informal sector workers, wreaked havoc on the supply chain. This caused less consumption of construction materials and decreased demand and supply. However, the construction industry is likely to witness growth in the coming years, owing to developing economies such as China and India, thus, increasing the market for shotcrete accelerator in the construction industry. Owing to this, the market is expected to grow post-recovery.
- Over the medium term, the major factors driving the market are growing demand from the construction and infrastructure industry along with increasing demand from the mining sector.
- On the flip side, the limited performance of alkali-free shotcrete accelerators coupled with unfavorable conditions arising due to the COVID-19 outbreak is hindering the market growth.
- The Asia-Pacific region is expected to dominate the market across the globe, with the largest consumption from countries such as China and India.
