The global underwater concrete market size was estimated at USD 133.02 billion in 2015 and is likely to witness rapid growth over the forecast period owing to growing demand in construction of shore protection application. The market is expected to witness sustained growth due to the substitution of the conventional shore protection materials with underwater concrete.

The industry is expected to witness high growth owing to the development of advanced cement mixtures and formulations coupled with the rising efficiency of the production processes. In addition, the development of advanced admixtures and adhesives, leading to an increase in the strength of the underwater structures is expected to benefit the market growth

U.S. underwater concrete market revenue, by application, 2014 - 2025 (USD Million)

Rising adoption of hydropower coupled with elaborate capacity expansions in the U.S. and Canada is expected to drive the demand for the product over the forecast period. In addition, increasing demand for underwater concrete for the construction of bridges and tunnels is expected to drive the market growth.

The industry exhibits a high demand for the product for repair and maintenance of dams and marine structures. In addition, growth in the demand for the product for swimming pools coupled with the proposals for the construction of tunnels in the region is expected to drive the industry growth.

The abundance of high-strength raw materials such as cement, admixtures, adhesives, and sealants in the economy is expected to drive the industry growth over the forecast period. In addition, the presence of a large number of concrete manufacturers, contractors, and sub-contractors in the region is expected to account for the high demand for the product in the U.S.

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Further key findings from the report suggest

• Hydropower energy harnessing constructions accounted for over 29% of the global consumption volume on account of high hydropower capacity expansion primarily in Asia Pacific and North America

• The use of admixtures in the product accounted for over 11% of the market revenue on account of technological developments leading to the production of advanced admixtures with superior strength, workability and anti-runoff properties

• The market in China is expected to register a CAGR of over 9% by revenue, from 2016 to 2025 on account of significant marine infrastructure developments coupled with the growing adoption of hydropower as an alternate energy source

• Key companies operating in the industry include CEMEX, Conmix, Heidelberg among others. The companies in the industry are involved in mergers, acquisitions and capacity expansions as the major strategies to increase the market presence and annual revenues

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