Underwater Concrete Market Analysis

Global Underwater Concrete Market Overview

Underwater Concrete Market Size was valued at USD 103.15 billion in 2023. The underwater concrete industry is projected to grow from USD 111.30 Billion in 2024 to USD 189.5 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.88% during the forecast period (2024 - 2032). The major market drivers in the underwater concrete industry include rising demand for maritime infrastructure development, an increase in the need for underwater structure repair and maintenance, and developments in underwater building technologies and techniques.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Underwater Concrete Market Trends

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  Rising demand for sustainable and eco-friendly solutions to drive market growth

  
  

Concrete is the most often utilized building material. Underwater concrete is a type of concrete that is used to construct complicated constructions that encounter water. Examples include hydro projects, dams, bridges, ports, platforms, swimming pools, and other structures. It has remarkable hydrophobic characteristics and strength. Underwater concrete manufacturing technology has advanced, making it suitable for uses where conventional concrete is ineffective. Expanding maritime construction operations, such as dock structures, bulk terminals, wind farms, oil platforms, underwater pipelines, bridges, and other marine infrastructure, will help the industry flourish. Government spending to improve operational efficiency and port capacity growth will likely promote the industry. For instance, the need to expand ports and related infrastructure is constant, given that 90% of India's economic operations occur via maritime routes. Moreover, rising demand from end-use sectors such as oil and gas and power will likely increase market CAGR.

The underwater concrete industry is seeing increased demand for environmentally friendly and sustainable solutions. With rising environmental concerns and restrictions, there is a growing emphasis on employing low-impact underwater concrete products. Manufacturers are concentrating on developing concrete combinations with lower carbon emissions, energy usage, and increased durability to fulfill the demand for sustainable solutions. This trend encourages using novel materials such as geopolymer and self-healing concrete, which provide improved environmental performance and longer service life, contributing to the overall sustainability of underwater structures.

Underwater concrete technology is rapidly transforming the industry. Manufacturers are investing in R&D to create innovative underwater concrete materials with improved performance features such as stronger strength, better workability, and increased corrosion and abrasion resistance. Innovative techniques such as underwater pumping, preplaced aggregate concrete, and underwater curing processes are being used to improve the quality and efficiency of underwater concrete installation and curing. These developments allow for the building of underwater structures with greater durability, longer service life, and fewer maintenance requirements, driving the underwater concrete market revenue.

August 2023: A Dutch company successfully demonstrates the use of 3D printing technology to create underwater concrete structures. This technology offers faster construction times and reduces environmental impact compared to traditional methods.

Underwater Concrete Market Segment Insights

Underwater Concrete Raw Material Insights

Based on raw materials, the underwater concrete market segmentation includes admixtures, aggregates, and cement. The cement segment dominated the market, accounting for 41% of market revenue (39.2 billion). Cement is a binder that hardens and sets when mixed with water and other materials. Cement is most used in the creation of concrete. Concrete is a composite material of aggregate (gravel, sand, and other minerals), cement, and water. As concrete dries, it bonds the aggregate together to produce a strong, solid mass. Cement is made by a process that begins with the extraction of limestone, which is then crushed and ground into a fine powder. The growing emphasis on environmental legislation and sustainable building practices drives demand for cement raw materials that meet demanding environmental criteria.Figure 1:  Underwater Concrete Market, by Raw Material, 2022 & 2032 (USD billion)Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

The aggregates raw material segment is expected to grow at the fastest CAGR in the underwater concrete industry in the coming years. The availability and quality of aggregates like sand, gravel, and crushed stone are critical for producing underwater concrete. Aggregates are the primary component of concrete, providing the material with strength, durability, and other mechanical properties. As a result, the availability of high-quality aggregates in diverse parts of the world is critical for the manufacture of underwater concrete. Furthermore, advances in aggregate manufacturing methods such as crushing, screening, and washing drive aggregate quality, gradation, and shape, increasing underwater concrete performance and durability.

Underwater Concrete Application Insights

Based on application, the underwater concrete market segmentation includes marine, hydro projects, tunnels, underwater repairs, swimming pools, and others. The underwater repairs category generated the most income (34%). Maintaining and repairing submerged structures, such as marine infrastructure, offshore structures, pipelines, and underwater foundations, is a critical driver of the demand for underwater concrete. These structures are constantly exposed to harsh marine environments, including saltwater, waves, currents, and corrosion, which can cause deterioration and damage over time. Additionally, the increasing focus on asset management and preservation of underwater structures to extend their service life and ensure safe and reliable operation drives the demand for underwater concrete to repair and rehabilitate existing structures. Moreover, the growing investment in developing and maintaining underwater structures, particularly in the offshore oil and gas, renewable energy, and marine transportation sectors, is fueling the demand for underwater repairs using underwater concrete.

Underwater Concrete Regional Insights

By Region, the report provides market insights into Europe, North America, Asia-Pacific, and the Rest of the World. The Asia Pacific underwater concrete market accounted for USD 43.78 billion in 2022 and will likely exhibit a significant CAGR growth in the study period. Rapid economic expansion and urbanization in countries such as China, India, and Southeast Asia have increased the demand for new ports, harbors, offshore buildings, bridges, and coastal protection works to support expanding commerce and economic activity. This has increased demand for underwater concrete as a dependable and long-lasting building material capable of withstanding hostile underwater environments and providing long-term performance. Besides, developments in underwater building technologies, increased infrastructure development investments, and government initiatives to encourage maritime trade and tourism have all contributed to the growth of the Asia Pacific underwater concrete market.

Also, the major countries studied in the market report are the U.S., German, Canada, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2:  UNDERWATER CONCRETE MARKET SHARE BY REGION 2022 (%)Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

The European underwater concrete market accounts for the second-largest market share. One of the major factors is the aging marine infrastructure in many coastal countries, such as ports, harbors, and offshore structures, which require routine maintenance, repair, and rehabilitation to ensure safe and effective operations. In addition, stringent environmental regulations in Europe aimed at safeguarding marine habitats and reducing pollution increase demand for undersea concrete. The demand for novel underwater construction technologies and techniques and increased investment in maritime infrastructure projects are driving the expansion of the European underwater concrete market. Further, the German underwater concrete market held the largest market share, and the UK underwater concrete market was the fastest-growing market in the European region.

The North American Underwater Concrete Market is expected to grow at the fastest CAGR from 2023 to 2032. Many of the region's existing marine infrastructures, including ports and harbors, require constant maintenance, repair, and rehabilitation to ensure safe and effective operations. Undersea concrete is frequently utilized for these purposes. Additionally, advances in underwater building technologies, such as advanced materials and procedures, drive demand for underwater concrete in North America. Also, rising investments in maritime infrastructure projects, such as offshore wind farms and renewable energy programs, present prospects for the North American underwater concrete market. Moreover, the U.S. underwater concrete market held the largest market share, and the Canadian underwater concrete market was the fastest-growing market in the North American region.

Underwater Concrete Key Market Players & Competitive Insights

Leading market players in the underwater concrete market are investing significantly in research and development to expand their products and services offerings and drive market growth. These market participants also engage in key market developments, such as new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaborations with other organizations, to expand their  footprint and gain a competitive edge. Manufacturing raw materials locally to minimize operational costs is also a key business tactic manufacturers use in the  underwater concrete industry to benefit clients and increase their market share.

In recent years, the underwater concrete industry has witnessed major advancements, offering advantages in various applications, including underwater repairs and swimming pools. Major players in the underwater concrete market, such as Conmix Ltd, W.R. Grace & Co., HeidelbergCement AG, Sika AG, and others, are focusing on research and development operations to drive market demand and stay competitive in the rapidly evolving market landscape. The companies in the underwater concrete industry are vertically integrated into producing raw materials such as admixtures, cement, and aggregates.

Conmix Ltd is a United Arab Emirates (UAE)-based construction chemical manufacturing company that provides various construction chemicals such as admixtures, coatings, sealants, and waterproofing solutions. For almost four decades, the company has served the construction industry and has a strong presence in the Middle East, Africa, and Asia. Conmix installed a new blender for admixture manufacturing in the Sharjah plant in December 2018 to speed up output.

CEMEX S.A.B. de C.V. is a Mexican-based multinational building materials firm with activities in over 50 countries. The firm is one of the key manufacturers of cement, concrete, and other building materials. It provides a comprehensive range of goods and solutions for various construction applications, including underwater concrete. CEMEX announced the June 2021 launch of their innovative underwater concrete product, Vertua® Xtreme. This ground-breaking product is intended for underwater construction applications such as maritime constructions, ports, and offshore sites. Vertua® Xtreme is designed to have high early strength and outstanding workability, making it ideal for use in demanding underwater situations where quick setting and durability are essential.

Key Companies in the underwater concrete market include

• Sika AG (Switzerland)


• Cemex S.A.B. De C.V. (Mexico)


• Rockbond SCP Ltd (UK)


• Conmix Ltd (United Arab Emirates)


• HeidelbergCement Group (Germany)


• M-Con Products Inc (U.S.)


• Underground Supply Inc (U.S.)


• Wieser Concrete Products Inc (U.S.)

Underwater Concrete Industry Developments

February 2021: HeidelbergCement, a  construction materials leader, has announced the debut of its unique underwater concrete solution, ENERMAR. This new product is specifically developed for underwater building projects, aiming to lower carbon emissions and increase the sustainability of underwater concrete applications.

June 2020: Sika AG, a Swiss specialty chemicals business, launched a new underwater concrete admixture called Sika ViscoCrete-2100 AD. This additive is designed to increase the workability, pump ability, and performance of underwater concrete, making it easier to place and finish in difficult underwater situations.

September 2019: HeidelbergCement Group purchased Giant Cement's Keystone Cement facility, a subsidiary of Elementia S.A.B., boosting its position in North America.

Underwater Concrete Market Segmentation

Underwater Concrete Raw Material Outlook

• Admixtures


• Aggregates


• Cement

Underwater Concrete Application Outlook

• Marine


• Hydro Projects


• Tunnels


• Underwater Repairs


• Swimming Pools


• Others

Underwater Concrete Regional Outlook

North America

• US

• Canada

• Mexico

Europe

• UK

• Germany

• France

• Italy

• Spain

• Rest of Europe

Asia-Pacific

• China

• India

• Japan

• Australia and New Zealand

• Rest of Asia-Pacific

Rest of the World

• South America


• Middle East


• Africa