The global concrete bonding agents market was valued at USD 2.52 Billion in 2020 and is projected to reach USD 5.91 Billion by 2028, at a CAGR of 5% from 2021 to 2028.
Concrete Bonding Agent Market overview
Concrete Bonding Agents Market size is projected as 5% for the forecast period. Bonding concrete agents organic materials used for various applications. They are compounds of synthetic materials that are for bonding elements. Without the use of fasteners connecting elements is possible with this agent. The bonding agents are concreted that come in different forms. They are similar to cement and powder forms. The concrete boding market is segmented into various aspects.
There are latex-based, epoxy-based and gent type segments of the market. Today, the epoxy-based coating is gaining more traction among end-users. Concrete bonding is used for a wide range of applications such as flooring and decorative purposes. There are both residential and non-residential segments of the market witnessing high demand. Especially, non-residential and commercial purposes have a high demand for concrete bonding agents. The concrete market has demand for more than 15 countries.
The awareness for this bonding is massive in many regions. Concrete bonding chemicals are mixtures that contain old and new concretes. It has excellent corrosion resistance and high-temperature resistance features are exceptional. Mainly they enhance the shelf life of infrastructures and protect them from damages. The concrete life cycle is improved through the use of bonding agents. It is a material that is sustainable and affordable at the same time. All these factors are constantly raising the need for concrete bonding in various industries. Also, these factors will contribute to the rise of concrete bonding agents market value.
The covid 19 pandemic is affecting industrial operations across the world. Building renovation and construction operations are hindered in this period. Reducing demand for bonding agents is affecting growth. The bonding applications such as repairing, decorative, and flooring are delayed in this period. The labours of the market are finding it difficult to travel. The global lockdowns and restrictions are creating challenges. There are fewer construction materials and activities across the nation.
A drop in the demand and supply rates is prevalent. However, the economies such as China and India are rapidly expanding. This will create more opportunities for the concrete bonding markets in upcoming years. Japan, China and India are key manufacturers of this material demand from this user end will create much more growth.
The use of concrete bonding materials is raising the demand. The durability of the concrete bonding attracts demand from various users. Especially, increasing demand from residential constructions is increasing the adoption of concrete bonding. These bonding agents are immensely used in construction for various applications. The need is higher in applications such as flooring, repairing and refurbishing.
The adhesive properties of the bonding agents are enhanced. Durability and adhesion are some of the features of the product that attracts demand from end-users. The Chinese government is increasing its constructions investments in recent years. The construction of mega buildings plays a crucial role in this market. The surge in construction investment is leading to high concrete bonding material purchases.
The tensile strength, corrosion resistance and density is suitable for ultimate bonding power. The emerging economies are witnessing high growth of the concrete bonding agents market. In recent years, concrete bonding are gaining more traction among emerging nations. The low cost and multipurpose features of concrete bonding agents are witnessing high demand. These factors will positively impact market revenue rates.
Increasing urbanization will create exceptional concrete bonding agents market growth. People are moving to cities in search of jobs and a new lifestyle. To accommodate all these individuals residential as well as commercial constructions are rising. The cities in many nations have high infrastructural developments due to urbanisation. It is causing more demand for the concrete bonding market. In the upcoming years, urbanisation is expected to be massive. Concrete bonding elements reduce the overall costs of these construction activities. Combining the concrete and boning agents can reduce the amount of cement used on the building. Also, for strength and durability, there is no need for additional elements.
The exceptional concrete bonding materials come with resistance, durability and other important features. These developments in the market will lead to high growth opportunities. Further, industrialization is another growth factor of this market. Industrialization plays a major role in the global market. Due to industrialization 4.0 new constructions and buildings will emerge. Further, another advantage of industrialization is an increase in production. Due to industrialization technologies in the concrete sector is increasing. Due to this, the production rates of the market will increase immensely. All these growth opportunities will increase the overall profitability of this market.
Less awareness about concrete bonding is a restraining factor of this market. In many regions, concrete bonding agents have less demand. Especially, these concrete bonding elements in developed regions. In many emerging markets generic bonding elements are used.
Lack of awareness about licensed concrete bonding elements can affect the overall growth rate. The expansion of the market can decline due to less awareness about the product. Key players are taking initiatives to increase awareness about the product. This market restraint can continue in the forecast period.
The outbreak of covid 19 has a significant impact on the market growth. Supply chain disruptions are huge for the market in this period. Especially, international exports and imports are restricted. There is a sudden decrease in construction activities worldwide. The supply disruptions can affect these market operations.
Concrete bonding is used in construction sites. In many regions delayed supply and delivery are witnessed. The top construction companies are cancelling the demand due to covid spread. These challenges toil the growth rate in the forecast period. Also, the lack of experts to combine concrete and boding agents correctly are less. It is another challenging factor of this market.
The growth trend of the concrete bonding agents market trends is stable in the forecast period. There are plenty of growth factors in the market that contribute to high profits. Flooring repairing and refurbishing segments are witnessing high demand. Epoxy compose mixtures have exceptional demand in the forecast period.
These epoxy composites are eco-friendly bonding elements. Adhesion, performance and durability are high in these products. The crucial drivers such as increased use of concrete bonding are demand boosting factors. However, lack of awareness remains a challenge in this market. Still, there are plenty of growth opportunities that sustain market demand.
The Asia Pacific holds the highest concrete bonding agents market share. The demand in this region is highly dynamic. The construction activities are largely expanding in Asia pacific. S lifestyles improvements are leading to smart city constructions. Due to increased public investment in infrastructure projects, there is high demand for concrete bonding.
China, India, Japan are key contributors to the market. The investments from these key players are surging for the market. In the upcoming years, it is a region that will mark a high demand rate. Also, a new development in product range will create growth opportunities.
Concrete Bonding Agents market by the agent
The epoxy concrete bonding has high demand among the end-users
Concrete Bonding Agents Market by Application
Repairing and flooring segments of the market hold the highest shares in the forecast period
Concrete Bonding Agents Market by Region
The competition in the concrete bonding agents market is rising. There are market expansions, acquisitions, mergers and partnerships in the market. All strategies will play a crucial role in the competitive landscape.
Global concrete bonding agent market share, by end-use industry 2016 (%)
Source: MRFR Analysis
The Asia Pacific is a leading nation with many key players. It holds the high shares and demand rate in the market. India, China and Japan are crucial market investors. New construction projects will lead to high market developments. Further, North America is the next market player with a high number of bonding agents market share.
There is high demand for the product due to increased reconstruction activities. The US is the region's largest market with powerful key players. The US investments in the marine industry will create a positive impact on this market. Further, commercial constructions will benefit from this overall market growth. Another important in the concrete bonding agents market is Europe. It is a region with key countries such as Germany and UK. All these global players will perform well in the global concrete bonding agents market.
The key players of the concrete bonding agents market
|Market Size||2030 : Significant value|
|Forecast Period||2020 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Agent, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Sika AG (Switzerland), BASF SE (Germany), Fosroc, Inc. (U.K), Mapei S.P.A. (Italy), Saint-Gobain Weber (France), DowDuPont (U.S.), The Euclid Chemical Company (U.S.), The QUIKRETE Companies (U.S.), GCP Applied Technologies Inc (U.S.), and Lafargeholcim (Switzerland), among others.|
|Key Market Opportunities||Rapidly increasing urbanization, industrialization, and growing population has triggered the growth of construction activities|
|Key Market Drivers||The demand for the material is growing, which can improve the performance of concrete and increase the durability of a building|
The forecast period for Concrete Bonding Agent Market research report is 2020-2030.
Concrete Bonding Agent Market is dominated by APAC region.
The major players are Sika AG (Switzerland), BASF SE (Germany), Fosroc, Inc. (U.K), Mapei S.P.A. (Italy), Saint-Gobain Weber (France), DowDuPont (U.S.), The Euclid Chemical Company (U.S.), The QUIKRETE Companies (U.S.), GCP Applied Technologies Inc (U.S.), and Lafargeholcim (Switzerland), among others.
The growth rate of the market is estimated at 5%.