Underwater Concrete Market To Reach $202.9 Billion By 2030

Underwater Concrete Market Growth & Trends

The global underwater concrete market size is estimated to reach USD 202.9 billion by 2030, registering to grow at a CAGR of 3.5% from 2024 to 2030 according to a new report by Grand View Research, Inc. Growing adoption of underwater concrete on account of improved technological efficiency pertaining to the concrete placing is expected to propel growth. The demand for the product is expected to grow on account of the growth in the underwater repairs of the existing underwater structures. In addition, the development of advanced admixtures such as superplasticizers and anti-washout admixtures is expected to translate drive the demand over the next nine years.

The industry exhibits a number of technological advancements pertaining to the chemicals used for improving and adjusting the workability, adhesive strength, and setting time of the cement used in the underwater concrete. In addition, the demand for chemicals such as carboxylates and cellulose is expected to lead to an increase in the strength of the concrete, leading to industry growth.

Rising demand for luxury amenities in the developed economies is expected to result in an increase in the construction of swimming pools, which is expected to fuel growth. The decline in the global price levels of Portland cement is expected to result in a reduction in the price of the product, leading to market growth. The industry is characterized by the presence of a dedicated supply chain network among the raw material suppliers, manufacturers, and construction companies. In addition, the industry exhibits integration with a majority of manufacturers involved in the production of raw materials.

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Underwater Concrete Market Report Highlights

• Aggregate segment dominated the market and accounted for a share of 56.2% in 2023, driven by the need for robust, long-lasting, and stable marine structures. 

• Hydro projects accounted for the largest market revenue share of 33.4% in 2023. The widespread use of underwater concrete in hydropower projects, including dams, reservoirs, and power facilities, demands high-quality, durable, and trustworthy materials.  

• Admixture segment is expected to register the fastest CAGR of 3.8% during the forecast period.

• Asia Pacific underwater concrete market dominated the global underwater concrete market in 2023 with a revenue share of 56.7%.

Underwater Concrete Market Segmentation

Grand View Research has segmented the global underwater concrete market based on raw material, application, and region:

Underwater Concrete Raw Material Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Admixture

• Cement

• Aggregates

• Others

Underwater Concrete Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Hydro Power

• Marine

• Shore Protection

• Underwater Repairs

• Tunnels

• Swimming Pools

• Others

Underwater Concrete Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • Thailand

  • Indonesia

  • Vietnam

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • Saudi Arabia

  • UAE

  • Oman

  • Kuwait

  • Qatar

List of Key Players in Underwater Concrete Market

• Cemex, S.A.B. de C.V.

• Heidelberg Materials

• Sika AG

• Conmix

• Don Construction Products Ltd.

• Titan America LLC

• MUHU (China) Construction Materials Co., Ltd

• Buzzi S.p.A.

• Ashland

• Rockbond SCP