by Concrete bonding agents are adhesives used for bonding fresh and hardened concrete to old concrete surfaces. They help in bonding green concrete to hardened concrete surfaces, repairing cracked or damaged surfaces, and protect reinforcement steel. Cementitious bonding agents are primarily composed of cement and polymer components that impart unique properties such as high bond strength, enhanced durability, and flexibility. The global Concrete Bonding Agents Market is estimated to be valued at US$ 2,773.5 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising infrastructure and construction activities across both developed and developing economies is propelling demand for concrete bonding agents. Rapid urbanization and growing population have necessitated development ofnew infrastructure such as roads, bridges, railways, commercial buildings, and residential complexes. Concrete bonding agents play a vital role in strengthening and repairing existing structures as well as construction of new infrastructure. They contribute significantly toward enhancing durability and service life of concrete by preventing leakage, separation, and cracking. Moreover, advantages of concrete bonding agents such as fast setting, high mechanical strength, chemical resistance, and flexibility is boosting their application in repairing older structures.
SWOT Analysis
Strength: Concrete bonding agents offer high bonding strength and durability. They provide strong adhesion between old and new concrete surfaces.
Weakness: Volatility in raw material prices can impact the cost of concrete bonding agents. Strict environmental regulations regarding the use of certain chemicals may also act as a constraint.
Opportunity: Growth in the construction industry along with infrastructure development projects in emerging economies offer significant opportunities. There is also scope for extensive R&D in developing eco-friendly product formulations.
Threats: Availability of substitutes like epoxy mortars poses competition. Economic slowdowns can negatively impact the demand from end-use industries.
Key Takeaways
The global Concrete Bonding Agents market is expected to witness high growth.
Regional analysis: Asia Pacific region currently dominates the market and is projected to be the fastest growing as well as most lucrative regional market during the forecast period. Majority of the global demand is expected to originate from countries like China, India, Indonesia, Vietnam, and Malaysia owing to extensive construction activities and supportive government policies for infrastructure development in these nations.
Key players operating in the Concrete Bonding Agents are Sika AG, Fosroc International Ltd., BASF SE, Saint-Gobain Weber S.A., Mapei S.p.A., Dow Construction Chemicals, Lafarge Holcim, The Euclid Chemical Company, GCP Applied Technologies Inc, and Dow Corning Corporation. These companies are focusing on new product launches, expansion of manufacturing facilities and partnerships to gain market share.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
