The Underwater Concrete Market size was USD 102.06 billion in 2023 and is expected to Reach USD 183.39 billion by 2031 and grow at a CAGR of 7.6 % over the forecast period of 2024-2031.
Due to the substitution of traditional coastal protection materials with maritime concrete, the market is estimated to have maintained a steady growth.
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With the development of improved cement mixtures and formulations, together with an increasing efficiency in production processes, it is expected that this sector will experience strong growth. Moreover, market growth is expected to be driven by the development of new admixtures and adhesives that will lead to increased strength of underwater structures. Demand for this product is expected to grow significantly over the forecast period, driven by growing use of hydropower and extensive capacity expansion in the US and Canada. Moreover, the market growth is projected to be driven by growing demand for submarine concrete as a means of bridge and tunnel construction. In this sector, the product used for maintenance and rehabilitation of dams and structures is very much in demand.
Furthermore, industry growth is anticipated to be supported by an increase of demand for swimming pool products in association with the proposed construction of tunnels across the region. In the next few years, industry growth is forecast to be driven by a large stock of high strength material like cement, admixtures, adhesives and sealants in the economy.
KEY DRIVERS:
Rise in Infrastructure Development
The demand for underwater concrete is increasing as a result of ongoing infrastructure development, in particular coastal and marine environments. Special concrete which can cope with the challenges posed by submarine placement must be used in projects like ports, harbours, wind farms and bridges.
Increased demand for protective measures along the sea coast has been driven by concerns of increasing sea levels due to climate change.
RESTRAIN:
Complexity of Placement and Safety Concerns
The use of specialized techniques and equipment to build concrete underwater requires that the construction process be more complex, which may lead to delays and higher costs. Construction workers are also exposed to other safety risks in the course of their employment, including diving hazards, undersea currents and possible exposure to hazardous materials.
OPPORTUNITY:
Renewable Energy Expansion
The increase in offshore wind and tidal energy projects has created substantial demand for underwater concrete foundations and supports, which provide opportunities for specialized construction services.
Innovations in the design of materials and mixtures
CHALLENGES:
Difficulty in Maintenance and Repair
Due to the limited accessibility, maintenance and repairs of underwater structural structures may pose a technical challenge and cost.
Russia and Ukraine are the main exporters of underwater concrete raw materials, holding a combined market share of 15%. The war disrupted the supply of underwater concrete from Russia and Ukraine, leading to inflated prices and shortages. War also increased the risk of transporting concrete underwater, due to supply chain disruptions.
Due to the war, the underwater concrete market is expected to slow down in 2023.
In the United States, the Navy has suspended all underwater concrete contracts from Russia and Ukraine.
In Europe, several countries have banned the import of underwater concrete from Russia.
The price of underwater concrete has increased by 10% since the beginning of the war.
Underwater concrete delivery time increased by 20%.
Economic downturn is expected to negatively impact the underwater concrete market as businesses and consumers are less likely to invest in new construction projects during a downturn. However, the market is expected to remain stable as there is still demand for underwater concrete for repair and maintenance of existing infrastructure. In the United States, the National Association of Home Builders (NAHB) reported that the number of homes started fell by 17.6% in June 2022, the largest decline since April 2020. is expected to negatively impact the demand for underwater concrete in the United States. In the UK, the construction industry is facing a number of challenges including rising material costs and labor shortages. The market is expected to grow at a slower rate in 2023 than in previous years.
By Material
Admixtures
Cement
Aggregates
In 2023, it was estimated that more than 24% of the world's concrete volume would be used for underwater concrete. Due to the development of advanced Portland cement with improved anti washout properties, which makes it easier to install concrete, the demand for cement is expected to increase.
Due to superior binding properties of aggregates, demand for aggregates has emerged as the largest raw material segment during the forecast period. Moreover, it is anticipated that an increasing use of recycled aggregates as partial substitutes for natural aggregates would lead to a high level of product over the forecast period.
By Laying Techniques
Bucket Placing
Tremie Method
Pump Method
Others
By Application
Hydropower
Shore protection
Tunnels
Marine
Underwater repairs
Swimming pools
Others
It is anticipated that growth in the underwater concrete market will be stimulated by significant addition of hydropower generation capacity, together with a growing commitment from national governments to adopt hydro power.
As a result of its use in the construction of hydro power plants, the European market accounted for over 15% of global demand. Moreover, it is foreseen that one of the major drivers for growth over the coming years will be increased construction activity by means of water tunnels like planned a link tunnel between Germany and Denmark.
In Germany, the increase of ocean and maritime infrastructure development is likely to bring about increased growth in the underwater concrete industry. Moreover, as part of the country's policy to introduce renewables into its energy mix, the market is anticipated to gain from increased adoption of hydropower generation plants.
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REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Some major key players in the Underwater Concrete market are Sika AG, RockBond SCP Ltd, Cemex S.A.B. de C.V, HeidelbergCement AG, Conmix Ltd, Underground Supply Inc, Weiser Concrete Products Inc, M-Con Products Inc and other players.
An undersea tunnel measuring 18 kilometres will soon connect Denmark and Germany. This 10 billion project will connect Rdbyhavn on the Danish island of Lolland and Puttgarden in northern Germany by crossing a stretch of the Baltic Sea known as the Fehmarn Belt.
It will be completed in 2023 for India to have its initial underwater train at Kolkata. A way to pass under the Hooghly River has been established by the Kolkata Metro Rail Corporation. Through this twin tunnel more than 500 metres long, the East & West Corridor will be connected. The train's going to be 13m beneath the Hooghly River.
| Report Attributes | Details |
| Market Size in 2023 | US$ 102.06 Bn |
| Market Size by 2031 | US$ 183.39 Bn |
| CAGR | CAGR of 7.6 % From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Material (Admixtures, Cement, Aggregates) • by Laying Techniques (Bucket Placing, Tremie Method, Pump Method, Others)) • by Application (Hydropower, Shore protection, Tunnels, Marine, Underwater repairs, Swimming pools, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Sika AG, RockBond SCP Ltd, Cemex S.A.B. de C.V, HeidelbergCement AG, Conmix Ltd, Underground Supply Inc, Weiser Concrete Products Inc, M-Con Products Inc |
| Key Drivers | • Rise in Infrastructure Development • Increased demand for protective measures along the sea coast has been driven by concerns of increasing sea levels due to climate change. |
| Market Restraints | • Complexity of Placement and Safety Concerns |
Ans: The Underwater Concrete Market is expected to grow at a CAGR of 7.6%.
Ans: The Underwater Concrete Market size was USD 102.06 billion in 2023 and is expected to Reach USD 183.39 billion by 2031.
Ans: Rise in Infrastructure Development is growing the demand for the market.
Ans: Complexity of Placement and Safety Concerns may restrict the market growth.
Ans: Asia Pacific region is dominating the market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia-Ukraine war
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
4.3 Supply Demand Gap Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Underwater Concrete Market Segmentation, By Material
8.1 Admixtures
8.2 Cement
8.3 Aggregates
9. Underwater Concrete Market Segmentation, By Laying Techniques
9.1 Bucket Placing
9.2 Tremie Method
9.3 Pump Method
9.4 Others
10. Underwater Concrete Market Segmentation, By Application
10.1 Hydropower
10.2 Shore protection
10.3 Tunnels
10.4 Marine
10.5 Underwater repairs
10.6 Swimming pools
10.7 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Underwater Concrete Market by Country
11.2.2North America Underwater Concrete Market by Material
11.2.3 North America Underwater Concrete Market by Laying Techniques
11.2.4 North America Underwater Concrete Market by Application
11.2.5 USA
11.2.5.1 USA Underwater Concrete Market by Material
11.2.5.2 USA Underwater Concrete Market by Laying Techniques
11.2.5.3 USA Underwater Concrete Market by Application
11.2.6 Canada
11.2.6.1 Canada Underwater Concrete Market by Material
11.2.6.2 Canada Underwater Concrete Market by Laying Techniques
11.2.6.3 Canada Underwater Concrete Market by Application
11.2.7 Mexico
11.2.7.1 Mexico Underwater Concrete Market by Material
11.2.7.2 Mexico Underwater Concrete Market by Laying Techniques
11.2.7.3 Mexico Underwater Concrete Market by Application
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Underwater Concrete Market by Country
11.3.1.2 Eastern Europe Underwater Concrete Market by Material
11.3.1.3 Eastern Europe Underwater Concrete Market by Laying Techniques
11.3.1.4 Eastern Europe Underwater Concrete Market by Application
11.3.1.5 Poland
11.3.1.5.1 Poland Underwater Concrete Market by Material
11.3.1.5.2 Poland Underwater Concrete Market by Laying Techniques
11.3.1.5.3 Poland Underwater Concrete Market by Application
11.3.1.6 Romania
11.3.1.6.1 Romania Underwater Concrete Market by Material
11.3.1.6.2 Romania Underwater Concrete Market by Laying Techniques
11.3.1.6.4 Romania Underwater Concrete Market by Application
11.3.1.7 Turkey
11.3.1.7.1 Turkey Underwater Concrete Market by Material
11.3.1.7.2 Turkey Underwater Concrete Market by Laying Techniques
11.3.1.7.3 Turkey Underwater Concrete Market by Application
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Underwater Concrete Market by Material
11.3.1.8.2 Rest of Eastern Europe Underwater Concrete Market by Laying Techniques
11.3.1.8.3 Rest of Eastern Europe Underwater Concrete Market by Application
11.3.2 Western Europe
11.3.2.1 Western Europe Underwater Concrete Market by Country
11.3.2.2 Western Europe Underwater Concrete Market by Material
11.3.2.3 Western Europe Underwater Concrete Market by Laying Techniques
11.3.2.4 Western Europe Underwater Concrete Market by Application
11.3.2.5 Germany
11.3.2.5.1 Germany Underwater Concrete Market by Material
11.3.2.5.2 Germany Underwater Concrete Market by Laying Techniques
11.3.2.5.3 Germany Underwater Concrete Market by Application
11.3.2.6 France
11.3.2.6.1 France Underwater Concrete Market by Material
11.3.2.6.2 France Underwater Concrete Market by Laying Techniques
11.3.2.6.3 France Underwater Concrete Market by Application
11.3.2.7 UK
11.3.2.7.1 UK Underwater Concrete Market by Material
11.3.2.7.2 UK Underwater Concrete Market by Laying Techniques
11.3.2.7.3 UK Underwater Concrete Market by Application
11.3.2.8 Italy
11.3.2.8.1 Italy Underwater Concrete Market by Material
11.3.2.8.2 Italy Underwater Concrete Market by Laying Techniques
11.3.2.8.3 Italy Underwater Concrete Market by Application
11.3.2.9 Spain
11.3.2.9.1 Spain Underwater Concrete Market by Material
11.3.2.9.2 Spain Underwater Concrete Market by Laying Techniques
11.3.2.9.3 Spain Underwater Concrete Market by Application
11.3.2.10 Netherlands
11.3.2.10.1 Netherlands Underwater Concrete Market by Material
11.3.2.10.2 Netherlands Underwater Concrete Market by Laying Techniques
11.3.2.10.3 Netherlands Underwater Concrete Market by Application
11.3.2.11 Switzerland
11.3.2.11.1 Switzerland Underwater Concrete Market by Material
11.3.2.11.2 Switzerland Underwater Concrete Market by Laying Techniques
11.3.2.11.3 Switzerland Underwater Concrete Market by Application
11.3.2.1.12 Austria
11.3.2.12.1 Austria Underwater Concrete Market by Material
11.3.2.12.2 Austria Underwater Concrete Market by Laying Techniques
11.3.2.12.3 Austria Underwater Concrete Market by Application
11.3.2.13 Rest of Western Europe
11.3.2.13.1 Rest of Western Europe Underwater Concrete Market by Material
11.3.2.13.2 Rest of Western Europe Underwater Concrete Market by Laying Techniques
11.3.2.13.3 Rest of Western Europe Underwater Concrete Market by Application
11.4 Asia-Pacific
11.4.1 Asia-Pacific Underwater Concrete Market by country
11.4.2 Asia-Pacific Underwater Concrete Market by Material
11.4.3 Asia-Pacific Underwater Concrete Market by Laying Techniques
11.4.4 Asia-Pacific Underwater Concrete Market by Application
11.4.5 China
11.4.5.1 China Underwater Concrete Market by Material
11.4.5.2 China Underwater Concrete Market by Laying Techniques
11.4.5.3 China Underwater Concrete Market by Application
11.4.6 India
11.4.6.1 India Underwater Concrete Market by Material
11.4.6.2 India Underwater Concrete Market by Laying Techniques
11.4.6.3 India Underwater Concrete Market by Application
11.4.7 Japan
11.4.7.1 Japan Underwater Concrete Market by Material
11.4.7.2 Japan Underwater Concrete Market by Laying Techniques
11.4.7.3 Japan Underwater Concrete Market by Application
11.4.8 South Korea
11.4.8.1 South Korea Underwater Concrete Market by Material
11.4.8.2 South Korea Underwater Concrete Market by Laying Techniques
11.4.8.3 South Korea Underwater Concrete Market by Application
11.4.9 Vietnam
11.4.9.1 Vietnam Underwater Concrete Market by Material
11.4.9.2 Vietnam Underwater Concrete Market by Laying Techniques
11.4.9.3 Vietnam Underwater Concrete Market by Application
11.4.10 Singapore
11.4.10.1 Singapore Underwater Concrete Market by Material
11.4.10.2 Singapore Underwater Concrete Market by Laying Techniques
11.4.10.3 Singapore Underwater Concrete Market by Application
11.4.11 Australia
11.4.11.1 Australia Underwater Concrete Market by Material
11.4.11.2 Australia Underwater Concrete Market by Laying Techniques
11.4.11.3 Australia Underwater Concrete Market by Application
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Underwater Concrete Market by Material
11.4.12.2 Rest of Asia-Pacific Underwater Concrete Market by Laying Techniques
11.4.12.3 Rest of Asia-Pacific Underwater Concrete Market by Application
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Underwater Concrete Market by Country
11.5.1.2 Middle East Underwater Concrete Market by Material
11.5.1.3 Middle East Underwater Concrete Market by Laying Techniques
11.5.1.4 Middle East Underwater Concrete Market by Application
11.5.1.5 UAE
11.5.1.5.1 UAE Underwater Concrete Market by Material
11.5.1.5.2 UAE Underwater Concrete Market by Laying Techniques
11.5.1.5.3 UAE Underwater Concrete Market by Application
11.5.1.6 Egypt
11.5.1.6.1 Egypt Underwater Concrete Market by Material
11.5.1.6.2 Egypt Underwater Concrete Market by Laying Techniques
11.5.1.6.3 Egypt Underwater Concrete Market by Application
11.5.1.7 Saudi Arabia
11.5.1.7.1 Saudi Arabia Underwater Concrete Market by Material
11.5.1.7.2 Saudi Arabia Underwater Concrete Market by Laying Techniques
11.5.1.7.3 Saudi Arabia Underwater Concrete Market by Application
11.5.1.8 Qatar
11.5.1.8.1 Qatar Underwater Concrete Market by Material
11.5.1.8.2 Qatar Underwater Concrete Market by Laying Techniques
11.5.1.8.3 Qatar Underwater Concrete Market by Application
11.5.1.9 Rest of Middle East
11.5.1.9.1 Rest of Middle East Underwater Concrete Market by Material
11.5.1.9.2 Rest of Middle East Underwater Concrete Market by Laying Techniques
11.5.1.9.3 Rest of Middle East Underwater Concrete Market by Application
11.5.2 Africa
11.5.2.1 Africa Underwater Concrete Market by Country
11.5.2.2 Africa Underwater Concrete Market by Material
11.5.2.3 Africa Underwater Concrete Market by Laying Techniques
11.5.2.4 Africa Underwater Concrete Market by Application
11.5.2.5 Nigeria
11.5.2.5.1 Nigeria Underwater Concrete Market by Material
11.5.2.5.2 Nigeria Underwater Concrete Market by Laying Techniques
11.5.2.5.3 Nigeria Underwater Concrete Market by Application
11.5.2.6 South Africa
11.5.2.6.1 South Africa Underwater Concrete Market by Material
11.5.2.6.2 South Africa Underwater Concrete Market by Laying Techniques
11.5.2.6.3 South Africa Underwater Concrete Market by Application
11.5.2.7 Rest of Africa
11.5.2.7.1 Rest of Africa Underwater Concrete Market by Material
11.5.2.7.2 Rest of Africa Underwater Concrete Market by Laying Techniques
11.5.2.7.3 Rest of Africa Underwater Concrete Market by Application
11.6 Latin America
11.6.1 Latin America Underwater Concrete Market by country
11.6.2 Latin America Underwater Concrete Market by Material
11.6.3 Latin America Underwater Concrete Market by Laying Techniques
11.6.4 Latin America Underwater Concrete Market by Application
11.6.5 Brazil
11.6.5.1 Brazil Underwater Concrete by Material
11.6.5.2 Brazil Underwater Concrete by Laying Techniques
11.6.5.3 Brazil Underwater Concrete by Application
11.6.6 Argentina
11.6.6.1 Argentina Underwater Concrete by Material
11.6.6.2 Argentina Underwater Concrete by Laying Techniques
11.6.6.3 Argentina Underwater Concrete by Application
11.6.7 Colombia
11.6.7.1 Colombia Underwater Concrete by Material
11.6.7.2 Colombia Underwater Concrete by Laying Techniques
11.6.7.3 Colombia Underwater Concrete by Application
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Underwater Concrete by Material
11.6.8.2 Rest of Latin America Underwater Concrete by Laying Techniques
11.6.8.3 Rest of Latin America Underwater Concrete by Application
12 Company profile
12.1 Sika AG
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 RockBond SCP Ltd
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Product/Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Cemex S.A.B. de C.V
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Product/Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 HeidelbergCement AG
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Product/Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Conmix Ltd
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Product/Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Underground Supply Inc
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Product/Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Weiser Concrete Products In
12.7.1 Company Overview
12.7.2 Financials
12.7.3 Product/Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 M-Con Products Inc
12.8.1 Company Overview
12.8.2 Financials
12.8.3 Product/Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
13. Competitive Landscape
13.1 Competitive Bench marking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
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