Shotcrete Market Size, Share, Trends, Growth and Forecast 2034

Shotcrete Industry Prospective:

The global shotcrete market size was worth around USD 7.21 billion in 2024 and is predicted to grow to around USD 14.32 billion by 2034, with a compound annual growth rate (CAGR) of roughly 7.10% between 2025 and 2034.

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Shotcrete Market: Overview

Shotcrete is a building & construction material produced from extremely fine concrete. It is sprayed through on a prepared surface using a powerful hose, and the process is known as shotcreting. The spray velocity of the mortar application process is very high. Depending on the country, shotcrete has different names such as Blastcrete, Guncrete, and Torkete, among many others. According to industry research, shotcrete offers several advantages as compared to traditional concrete. For instance, it is known to bond with a wide range of materials, allowing shotcrete to be used across multiple applications.

In addition, shotcrete is also known to cause placement and compaction issues due to the extreme force applied through the nozzle. Thus, it is impactful in mortar application across shapes and surfaces. During the forecast period, demand for shotcrete is expected to deliver higher revenue. The growing rate of infrastructure development projects worldwide and the restoration of existing industrial, commercial, or residential facilities will promote market expansion. In addition to this, technological advancements in the shotcrete process and the development of high-performance shotcrete will aid higher market revenue during the forecast period.

Key Insights:

• As per the analysis shared by our research analyst, the global shotcrete market is estimated to grow annually at a CAGR of around 7.10% over the forecast period (2025-2034)
• In terms of revenue, the global shotcrete market size was valued at around USD 7.21 billion in 2024 and is projected to reach USD 14.32 billion by 2034.
• The shotcrete market is projected to grow at a significant rate due to the rising rate of infrastructure development projects worldwide.
• Based on the process, the wet mix segment is growing at a high rate and will continue to dominate the global market as per industry projections.
• Based on the application, the underground construction segment is anticipated to command the largest market share.
• Based on region, Europe is projected to dominate the global market during the forecast period.

Shotcrete Market: Growth Drivers

Rising rate of infrastructure development projects worldwide to promote market revenue

The global shotcrete market is expected to be driven by the growing investments in infrastructure development projects. Recent reports indicate a considerable increase in expenditure related to the development of new infrastructure projects across commercial, residential, and industrial landscapes. Factors such as steady economic growth, globalization, urbanization, and industrialization are affecting infrastructure-related investments, especially in emerging economies.

According to official reports, China launched more than 180 major infrastructure-related projects in the first quarter of 2025 with a special focus on energy, water conservation, transportation, and the production of new materials. In addition to this, global economies are also focusing on increasing domestic production of modern-age critical commodities. For instance, countries such as India and the US are encouraging local chip production to reduce dependency on China and Taiwan for semiconductor production.

In May 2025, the Indian government approved the construction of a new semiconductor unit in the Uttar Pradesh state of the country. On the other hand, the increased demand for luxury and affordable housing solutions worldwide will accelerate the construction of new buildings and houses during the projection period. These factors are likely to generate a higher growth scope for shotcrete providers worldwide.

Increased applications of shotcrete process in underground construction & mining to amplify market revenue

As per industry analysis, shotcrete is used to stabilize and support structures in a short time. The process allows the application of concrete without using molds. Hence, shotcreting offers several time-based and economic benefits to end-users. The growing need to build functional and stronger underground structures due to the availability of limited space will drive the higher use of solutions available in the global shotcrete market in the coming years. For instance, Norway is currently building the world’s longest and deepest underwater tunnel. According to official reports, it is one of Europe’s ambitious projects, which, upon completion, will extend 26.7 km in length and 390 m in depth under the sea.

Shotcrete Market: Restraints

Competition from conventionally used concrete to limit market expansion in the coming years

The global shotcrete industry is expected to be restricted due to the high competition the industry faces from traditionally used concrete. For instance, the latter is considered ideal to be used on larger surfaces as the process of applying concrete traditionally provides a more uniform finish. On the other hand, the limited availability of skilled resources with expertise in shotcreting may further impact the market adoption rate in the future. Shotcrete application requires a certain level of technological awareness among the workers, which can act as a growth-limiting factor for the market players.

Shotcrete Market: Opportunities

Increasing rate of technological growth in the industry to generate growth opportunities

The global shotcrete market is expected to generate growth opportunities due to the surging rate of technological advancements in the market. Modern shotcrete machines, combined with the latest concrete mixers and transport units, enable miners to enhance concrete application and achieve better results. Modern shotcreting tools are equipped with digitalization and electrification technologies for better performance. In November 2023, Hermann Paus Maschinenfabrik GmbH announced the launch of UNIVERSAL 55. The carrier is equipped with an advanced PAUS CONNECT cloud-based data interface for enabling mine digitalization.

Additional Light Detection and Ranging (LiDAR) technologies will be applied to monitor and analyze the results of the shotcrete application. In December 2023, Sika, a leading specialty chemicals provider, launched a new production facility in Switzerland. The production hub is used for producing Signuit, which is a highly popular shotcrete accelerator. The company aims to meet the growing demand for shotcrete across major infrastructure projects in the Alpine region with increased production capacity. The ring introduction of electric shotcreting equipment delivers higher performance and sustainability, which will encourage market expansion in the coming years.

Shotcrete Market: Challenges

Cost-related barriers and limited applications to challenge market growth in the future

The global shotcrete industry is expected to be challenged by the growing concerns over the high cost of shotcreting tools. Additionally, electric variants can be more expensive than fuel-run machines, further limiting technology adoption. Shotcrete cannot be used in certain conditions, such as extremely cold environments, restricting the overall application of the solution. Rising economic volatility and high cost-efficiency of alternate solutions may impede market expansion in the future.

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Shotcrete Market: Report Scope

Shotcrete Market: Segmentation

The global shotcrete market is segmented based on process, application, and region.

Based on the process, the global market divisions are dry mix and wet mix. In 2024, the highest revenue was listed in the wet mix segment, which dominated nearly 62% of the final revenue. Increasing demand for wet mix shotcrete in underground construction projects worldwide is expected to fuel the segmental demand in the future. The dry mix segment is anticipated to deliver considerable CAGR during the forecast period with rising expenditure in repair projects globally.

Based on the application, the global market divisions are new surface structures, slope & surface protection, underground construction, repair work, and others. In 2024, the highest underground construction segment was the most prominent revenue generator at around 35.05% of the total revenue. Increasing construction of underground structures for improving public and goods transportation is propelling segmental revenue. Moreover, increasing mining activities will aid the segment to thrive in the coming years.

Shotcrete Market: Regional Analysis

Europe to deliver the highest revenue during the forecast period

The global shotcrete market is expected to be led by Europe during the forecast period. Countries such as Switzerland, Germany, Norway, Denmark, Belgium, and others are experiencing substantial investment in infrastructure development projects. In January 2025, the European Union announced its investment in the Diagnostic Tools and Risk Protocols to Accelerate Underground Hydrogen Storage (hyDRA) project. The initiative was awarded EUR 3 million through the Horizon Europe Program. It aims to accelerate the understanding and implementation of underground hydrogen storage (UHS) across Europe.

North America is expected to be led by increased use of shotcrete in the US and Canada regions. In March 2021, Canada-based Maclean announced the launch of the industry's first battery electric shotcrete sprayer with a mobile concrete truck. The combination of TM3 Transmixer and ss5 Shotcrete Sprayer will allow underground mining companies to opt for zero-emission tools across sites.

The regional demand rate will be the result of increasing mining activities along with higher construction of commercial and industrial buildings. The growing focus on developing environmentally friendly shotcrete may open up new avenues for regional market expansion.

Shotcrete Market: Competitive Analysis

The global shotcrete market is led by players like:

• The Euclid Chemical Company
• Sika AG
• HeidelbergCement AG
• Normet Group
• King Shotcrete Solutions
• Quikrete Holdings Inc.
• REED Concrete Pumps & Shotcrete Equipment
• CEMEX S.A.B. de C.V.
• GCP Applied Technologies Inc.
• Thiessen Team USA Inc.
• BASF SE
• KPM Industries Ltd.
• LafargeHolcim Ltd.
• Putzmeister
• Mapei S.p.A.

The global shotcrete market is segmented as follows:

By Process

• Dry Mix
• Wet Mix

By Application

• New Surface Structures
• Slope & Surface Protection
• Underground Construction
• Repair Work
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa