Underwater Concrete Foam Market - Forecast(2024 - 2030)
Underwater Concrete Foam Market Overview
The Underwater Concrete Foam Market size is
estimated to reach US$318 billion by 2027, after growing at a CAGR of 7.8%
during the forecast period 2022-2027. Underwater concrete foam is an aerated, cellular
lightweight concrete made up of 20% foam and a slurry of cement entrained into
the plastic mortar. It is made with raw materials such as cement, aggregates, admixtures and others by using laying techniques, such as pumping technique, tremie method, hydro valve method and others. The rapidly rising building &
construction industry for constructing dams, bridges and other underwater
structures has been driving the growth of the Underwater Concrete Foam Market.
Moreover, the growing water & wastewater treatment sector requires
underwater concrete foam owing to its usage in constructing new wastewater
treatment facilities or for repairing the old facility, which is anticipated to
upsurge the growth of the underwater concrete foam industry in the
forecast period. The global economic
downturn caused by the COVID-19 pandemic resulted in a huge drop in
construction, repair and renovation projects and other underwater
structure applications all across the
world. This had a significant impact on the growth of the Underwater Concrete Foam Market size.
Underwater Concrete Foam Market Report Coverage
The
“Underwater Concrete Foam Market Report – Forecast (2022-2027)” by
IndustryARC, covers an in-depth analysis of the following segments in the Underwater Concrete Foam industry.
Key Takeaways
- The As-pacific region dominates the Underwater Concrete Foam Market owing to the rising growth of the marine industry. According to Invest India, during January 2021, a total of 161 projects in the marine industry at a cost of US$12 billion have been completed and 178 projects at a cost of INR 1,96,578 Crores (US$26,595 million) are under implementation.
- Rapidly rising demand for Underwater Concrete Foam in the building & construction industry for building dams, bridges and other structures has driven the growth of the Underwater Concrete Foam Market.
- The increasing demand for Underwater Concrete Foam in the water & wastewater treatment sector, due to its usage in the construction of a new wastewater treatment facility or for the repairment of the old facility, has been a critical factor driving the growth of the Underwater Concrete Foam Market in the upcoming years.
- However, the high cost of production of Underwater Concrete Foam can hinder the growth of the Underwater Concrete Foam Market.
Figure: Underwater Concrete Foam Market Revenue Share, by Geography, 2021 (%)
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Underwater Concrete Foam Market Segment Analysis – by Laying Technique
The tremie method segment held the largest Underwater Concrete Foam Market share in 2021 and is estimated to grow at a CAGR of 7.9% during the forecast period 2022-2027. Underwater concreting using the tremie method is easy for pouring a large amount of high flowable concrete as compared to other laying technique types such as pumping technique and hydro valve method. The concrete is shifted to the hopper by either belt conveyer, pumping or skips. Tremie concrete utilizes placement by the gravity of the feed from a hopper through a vertical pipe to the underwater floor and the tremie pipe is continuously charged with fresh mix. The general applications of the tremie method are piling works, basements, caissons, diaphragm walls, underwater foundations and other applications. Thus, the exhibited characteristics and various applications of the tremie method make it a preferred choice over the other laying technique types, which is driving its segmental growth.
Underwater Concrete Foam Market Segment Analysis – by Application
The marine constructions segment held a significant Underwater Concrete Foam Market share in 2021 and is projected to grow at a CAGR of 8.2% during the forecast period 2022-2027. Underwater concrete foam provides good water resistance and self-compacting ability that has made it a preferred choice for the marine constructions of various underwater structures, such as for military submarines, building repair, immersed tunnels and other applications. It is made up of raw materials such as cement, aggregates, admixtures and others by using laying techniques, such as pumping technique, tremie method, hydro valve method and others. According to the government of Canada, in 2022, the Minister of Transport announced US$14 million for an export expansion project at the Port of Oshawa. The Hamilton-Oshawa Port Authority is also contributing US$16 million, representing a total investment of almost US$30 million. This investment would be used for building new infrastructure to modernize operations in the port’s main area and enhance its growth. Thus, the rising usage of underwater concrete foam in the growing marine industry for the construction of various underwater structures would drive the Underwater Concrete Foam Market growth in the forecast period.
Underwater Concrete Foam Market Segment Analysis – by Geography
The Asia-pacific region held the largest Underwater Concrete Foam Market share of up to up to 42% in 2021. APAC region is one of the leading underwater concrete foam producers globally, with China and India being the key consumers and suppliers of underwater concrete foam. This is due to the growing marine construction sector. As per Union Budget 2020-2021 in India, the total allocation for the Ministry of Shipping stood at Rs 1,800 crore (US$257.22 million). According to the Ministry of Oceans and Fisheries in South Korea, an ambitious ten-year plan to invest more than US$6 billion into the redevelopment of ports around the country was announced in 2020. The aim is to shift the ports into the cities and generate tourism, culture and commerce to brace the ports and the surroundings. Thus, the marine construction industry is growing due to rising government investments in the sector. Therefore, the demand for underwater concrete foam to construct various underwater structures would also substantially rise. This is proving to be a market booster for the Underwater Concrete Foam Market size in this region.
Underwater Concrete Foam Market Drivers
Growing Building & Construction Industry:
In the building & construction industry, Underwater Concrete Foam is utilized in the construction of dams, bridges and other structures where the foundation lies underwater. According to Invest India, by 2025, the building & construction industry is estimated to reach US$1.4 Trillion. Moreover, according to the government of Canada, in 2022, the Department of Transportation launched the Bridge Replacement, Rehabilitation, Preservation, Protection and Construction Program, which would provide US$26.5 billion to the District of Columbia and Puerto Rico over the duration of five years. This investment is to fix thousands of bridges across the country and is the single largest dedicated bridge investment after the construction of the Interstate highway system. Thus, the growing building & construction industry would require more underwater concrete foam due to its exhibit characteristics, which would drive the growth of the underwater concrete foam industry during the forecast period.
Growing Water and Wastewater Treatment Sector:
Wastewater treatment is essential and utilized globally in different cities. The application of Underwater Concrete Foam, which is made up of raw materials such as cement, aggregates, admixtures and others, in the water and wastewater treatment sector is ideal to construct a new wastewater treatment facility or for the repairment purpose of the old facility. According to International Trade Administration (ITA), in Poland, the forecasts by the Ministry of Climate and Environment estimated that investments might increase to over US$7 million by 2034 for the modernization of municipal water treatment infrastructure in 1,578 agglomerations. Also, existing treatment facilities would undergo upgrades to reduce nitrogen and phosphorus levels in their wastewater by 75%, a goal outlined by the National Plan for Municipal Waste Water Management. Moreover, in 2020, the US Department of Agriculture (USDA) announced that it would be investing US$307 million in 34 states and Puerto Rico to upgrade rural municipal drinking water and wastewater infrastructure. To build a water treatment plant in Great Bend, the Red Rock Rural Water System in southwestern Minnesota would receive a US$905,000 loan and a US$445,000 grant. Thus, with the growing demand for water and wastewater treatment, the demand for Underwater Concrete Foam for the repair and construction of wastewater treatment facilities would drive market growth over the forecast period.
Underwater Concrete Foam Market Challenge
High Cost of Production:
Underwater Concrete Foam Market Industry Outlook
The top 10 companies in the Underwater Concrete Foam Market are:
- Italicementi S.p.A.
- HeidelbergCement Group
- Sika AG
- Cemex S.A.B. De C.V.
- Rockbond SCP Ltd
- M CON Products Inc.
- Conmix Ltd
- Underground Supply, Inc.
- Wieser Concrete Products Inc.
- Nautilus Dive-Company GmbH
Relevant Reports
Report Code: CMR 0191
Report Code: CMR 0574