The global shotcrete accelerator market is projected to reach USD 1,101.8 Million by 2022, at a CAGR of 8.2% from 2017 to 2022. Growing demand from mining and tunneling activities around the world is driving the shotcrete accelerator market, globally.
Expansions was the key strategy adopted by industry players to strengthen their positions in the global shotcrete accelerator market. Besides expansions, companies are investing in new product developments and acquisitions. Companies such as BASF SE (Germany), Sika AG (Switzerland), Mapei SpA (Italy), GCP Applied Technologies Inc. (U.S.), Normet Oy (Finland), and The Euclid Chemical Company (U.S.), are the most active players in the shotcrete accelerator market globally.
Major manufacturers such as BASF SE (Germany), Sika AG (Switzerland), Mapei Spa (Italy), GCP Applied Technologies Inc. (U.S.), Normet Oy (Finland), Fosroc (England), The Euclid Chemical Company (U.S.), and Chryso S.A.S. (France) are profiled in this report. These companies have adopted both, organic and inorganic growth strategies to grow in the market.
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BASF SE (Germany), Sika AG (Switzerland), and Mapei Spa (Italy) are the major players in the shotcrete accelerator market. These companies have strong product portfolios as well as business strategies to achieve growth. For instance, in 2016, BASF SE (Germany), expanded its portfolio of Master Builders Solutions in Russia, and opened a new manufacturing facility for concrete admixtures in West Bengal, India, and in 2015, it started a new production plant for concrete admixtures in Lagos, Nigeria.
Similarly, SIKA AG (Switzerland) adopted various expansion strategies to strengthen its position in the concrete admixtures market. In July 2016, SIKA AG (Switzerland) opened a new concrete admixtures production plant in Perth, Australia. In September 2014, SIKA AG launched Sigunit -L93 AF that is a highly effective alkali-free accelerator for shotcrete in liquid form. The above-mentioned strategies are assisting BASF SE (Germany) and SIKA AG (Switzerland) to acquire leading positions in the shotcrete accelerator market globally.
Denka Company, Limited (Japan), CICO Group (India), Basalite Concrete Products LLC (U.S.), Draco Italiana S.p.A (Italy), Atek Fine Chemical (South Korea), Polygon Chemicals Private Limited (India), and others are emerging players in the shotcrete accelerator market. They have the potential to build strong product portfolios and business strategies to compete in the market with the vanguards and innovators. For instance, Atek Fine Chemicals (Korea) offers shotcrete products & solutions and has a presence only in South Korea. Further, the company has high potential in tapping the other emerging regions in the Asia-Pacific during the forecast period, 2017-2022.
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