Lucintel's latest market report analyzed that underwater concrete provides attractive opportunities in various applications, such as hydro projects, marine constructions, metro projects, and underwater repair systems. The underwater concrete market is expected to reach $XX billion by 2028 with a CAGR of 8% to 10%. In this market, admixtures is the largest segment by raw material, whereas hydro projects is largest by application.
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Based on raw material, the underwater concrete market is segmented into concrete, admixtures, and others. The admixtures segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to increasing efficiency of materials by improving cohesiveness of concrete and preventing the concrete from segregating in water.
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The Underwater Concrete Market is marked by the presence of several big and small players. Some of the prominent players offering underwater concrete include Cemex S.A.B. De, Conmix, Sika, Lafarge Tarmac, Five Star Products Inc., Heidelberg Cement Group, Wieser Concrete, Rockbond SCP Ltd, and FOX Industries.
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