According to the research report titled ‘Underwater Concrete Market Size study, by Raw Material (Admixtures, Cement, Aggregates and Others), Application (Hydropower, Marine, Shore protection, Underwater repairs, Tunnels, Swimming pools and Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global underwater concrete market was assessed at USD 192.29 billion in 2019 and is projected to reach USD 443.14 billion by 2027, growing at an annual rate of 11% over 2020-2027.
 

Surging demand of product for construction of bridges, dams, tunnels, and other marine structures, coupled with rise in infrastructure maintenance & repair activities are key factors propelling growth of global underwater concrete market. Moreover, development of advanced admixtures & adhesives, and application of underwater concrete in shore protection are impelling the market expansion.
 

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For the unversed, underwater concrete is a type of concrete manufactured especially for providing top quality constructability and performance when in constant contact with water. Admixtures are added in this concrete to prevent segregation and washout under water.
 

Furthermore, strategic decisions by key players like investments, product launches, partnerships, acquisitions etc. will boost the industry growth. Citing an instance, MUHU (China) Construction Materials Co. Ltd. and FILCA Addmixture Corporation declared a partnership in 2018, enabling the former to expand their reach in the Philippines admixture market, catering to underwater concrete demand.
 

Extensive use of product for maintenance of old marine infrastructure in emerging economies will generate revenues, however erroneous placement and improper concrete mix will hinder global underwater concrete industry growth.
 

Based on raw material, worldwide underwater concrete industry is bifurcated into admixtures, cement, and aggregates among others. Speaking of application spectrum, the market space is segregated into hydropower, tunnels, swimming pools, marine, shore protection, and underwater repairs among others.
 

Regionally speaking, North America captured majority of the global underwater concrete industry share in the recent past, due to setup of marine infrastructure, and enhanced quality of water construction.
 

Meanwhile, Asia Pacific market is projected to expand rapidly over the analysis period, owing to increasing number of underwater metro projects in emerging economies.
 

Key players influencing worldwide underwater concrete market trends are MUHU (China) Construction Materials Co. Ltd., Five Star Products Inc., CEMEX S.A.B de C.V., KPM Industries Ltd., Tarmac Group Ltd., Mapei S.p.A, Hanson UK, Dyckerhoff Basal Nederland b.v., CONMIX Ltd., and HeidelbergCement AG.