Underwater Concrete Market Estimated to Reach $175.8 billion by 2028 Globally, at a CAGR of 5.3%, says MarketsandMarkets™


Chicago, July 25, 2023 (GLOBE NEWSWIRE) — The Underwater Concrete Market size is estimated to be USD 135.7 billion in 2023, and it is projected to reach USD 175.8 billion by 2028 at a CAGR of 5.3%, as per the recent study by MarketsandMarkets™.  Underwater concrete is a form of concrete that is specifically created and utilized for construction or repair work beneath the water’s surface. It is extensively utilized in marine and underwater applications such as bridges, piers, dams, tunnels, and offshore platforms.

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List of Key Players in Underwater Concrete Market:

  1. Sika AG (Switzerland)
  2. RPM International Inc. (US)
  3. Mapei S.P.A (Italy)
  4. Buzzi SpA (Italy)
  5. Ashland (US)
  6. Cemex
  7. S.A.B. de C.V. (Mexico)
  8. Conmix (UAE)
  9. Rockbond SCP Ltd.(England)
  10. Unibeton Ready Mix (UAE)
  11. Tarmac (England)
  12. Heidelberg Materials (Germany)
  13. others

Drivers, Restraints, Opportunities and Challenges in Underwater Concrete Market:

  1. Drivers: Increasing marine construction activities and rising urbanization & population growth
  2. Restraints: Technical complexity and safety risks
  3. Opportunity: Scaling up the use of offshore wind turbines
  4. Challenge: Curing challenge

Key Findings of the Study:

  1. By Raw Material, concrete accounted for the largest share in 2022
  2. By Application, Marine Constructions accounted for the largest share in 2022
  3. By Laying techniques, Tremie Method accounted for the largest share in 2022
  4. Asia Pacific accounted for the largest share as well as the fastest-growing market for the underwater concrete market in 2022

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The market of underwater concrete has been segmented based on the raw material, i.e., concrete (cement and admixtures), and precast concrete. Concrete is known for its excellent strength and durability, which are essential qualities for underwater construction. It can withstand the hydrostatic pressure exerted by water and resist the forces of waves and currents. Concrete structures have proven to be long-lasting and capable of withstanding the harsh marine environment. Precast concrete is manufactured in controlled factory environments, allowing for meticulous quality control measures. The production process ensures consistent mix proportions, curing conditions, and manufacturing standards, resulting in high-quality concrete elements that meet specified design requirements. Precast concrete allows for precise and customized manufacturing of various structural elements required for underwater construction, such as piles, caissons, breakwater units, tunnel segments, and underwater foundations.

The underwater concrete market is segmented on the basis of applications. Underwater concrete can be used in different applications such as Dams & Reservoirs, Marine constructions (i.e., Ports & Harbors, Bridge Piers, and Others), Underwater Repairs, Offshore Wind Power Generation, Tunnels, and others. In Dams & reservoirs, the underwater concrete is used to make dam foundations, spillways and outlet structures, intake structures, reservoir embankments, and other underwater repairs and maintenance works. In Marine construction, underwater concrete is used in the construction of ports and harbors, offshore platforms (which include oil and gas platforms, and subsea structures), underwater tunnels, and pipelines. Underwater concrete is commonly used for underwater repair work to restore or strengthen structures that are submerged in water. In offshore wind power generation, underwater concrete is used in constructing the foundations of offshore wind turbines, substation foundations, and cable protection. Underwater concrete is commonly used in the construction of tunnels, particularly when the tunnel passes through bodies of water or requires underwater sections. In other application segments, underwater concrete is used in marine habitat restoration projects, preservation of underwater archaeological sites, construction of marine laboratories, research facilities, underwater observatories, underwater sculptures, art installations, etc.

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On the basis of laying techniques, underwater concrete is segmented into four categories i.e., tremie method, bucket placing, pump method, and others. The tremie method is a commonly used technique for placing concrete underwater. It involves setting up a tremie pipe with a hopper, positioning it vertically in the water, and filling the hopper with concrete. The bucket placing underwater laying technique involves filling buckets with concrete and using a crane or winch to lower them into the water to the desired depth. The buckets are positioned over the designated area and tilted or opened to allow the concrete to flow out and fill the underwater space. The pump method in underwater concrete laying involves using specialized pumps and pipelines to transport concrete from the mixing location to the underwater construction site. It offers several advantages, including efficiency and speed, precise placement, reduced segregation, etc.

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