Concrete Bonding Agent Market Size was valued at USD 4.2 Billion in 2022. The Concrete Bonding Agent industry is projected to grow from USD 4.4 Billion in 2023 to USD 6.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.00% during the forecast period (2023 - 2032). The growing demand for environmentally friendly building materials, as well as the increased emphasis on infrastructure development is the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for Concrete Bonding Agent is being driven by the Increased demand for Concrete Bonding Agents due to rising housing construction. Government initiatives to construct affordable housing around the world are projected to drive the growth of the Concrete Bonding Agent market over the forecast period. Governments all across the world have implemented numerous social housing schemes, including the Housing for Poor Rural Families Program, low-rent housing for industrial zone employees, and low-income urban social housing-local government. According to the Ministry of Construction Vietnam, there are over 260 current projects that will provide around 219,000 units.
In addition, several commercial and industrial construction projects in Indonesia, such as the Tuban olefin complex development project, the Gresik copper smelting plant, the Plaju green diesel refinery, and others, began in the fourth quarter of 2021. As a result, considerable market traction from the growing use of styrene butadiene latex- and acrylic latex-based Concrete Bonding Agents in residential and commercial construction is expected to propel market growth during the projection period.
The growing demand for environmentally friendly building materials is driving the Concrete Bonding Agent Market. The construction industry is transitioning toward more sustainable and eco-friendly materials as public awareness of environmental issues grows. Concrete bonding agents are used to promote adhesion between new and existing concrete surfaces, hence reducing the amount of concrete required for construction projects. This can help construction projects lower their carbon footprint and become more sustainable. In 2021, for example, a US-based business called GCP Applied Technologies will debut a new concrete bonding agent called ADVA® Cast 575. This product is intended to improve building project sustainability by lowering the environmental effect of concrete production.
Because of its compatibility with cement, polyvinyl acetate (PVA) bonding agents are commonly employed in ornamental Concrete applications. This polyvinyl acetate latex is also suitable for use as a binder in cementitious water-based paints and waterproofing coatings. When this bonding agent is applied, it forms a thin coating that is very resistant to water, aging, and UV rays. Because of these qualities, polyvinyl acetate is in high demand for commercial decoration. The development in commercial building, such as airports, hotels, malls, and institutions, will boost the concrete bonding agents industry.
 For instance, According to Fitch Solutions Infrastructure, China is the world's largest construction market, with a CAGR of 8.6% between 2022 and 2030. Furthermore, China's 14th Five-Year Plan calls for the construction, relocation, restoration, and expansion of 140 airports. As a result, the increase in commercial construction activity is expected to fuel demand for the Concrete Bonding Agent market during the forecast period.
The Concrete Bonding Agent Market segmentation, based on Agent includes Cementitious Latex Based Agent, Epoxy Based Agent. In 2022, the cementitious latex-based segment represented the highest proportion of the Concrete Bonding Agents Market. Cementitious latex-based concrete bonding agents with strong adhesion and bonding strength include polyvinyl acetate latex, styrene-butadiene latex, and acrylic latex. Because it is less expensive than epoxy resin-based concrete bonding agents, it is widely utilized around the world. The concrete bonding agent is applied to building walls, ceilings, columns, and other surfaces with a brush, broom, roller, or spray. The concrete bonding agents industry would be driven by rising building construction and repair and maintenance activity.
Figure1: Concrete Bonding Agent Market, by Agent, 2022&2032(USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Concrete Bonding Agent Market segmentation, based on Application, includes Repairing, Decorative, Construction, Marine, Flooring And Others. The decorative category is predicted to develop at the fastest rate in the concrete bonding agents market over the forecast period and over the following decade. One of the primary factors driving the segment's growth in the concrete bonding agents market is the increasing urbanization and disposable income of people in the Asia Pacific and Latin America regions, which is resulting in a greater demand for well-furnished homes and beautiful residential flats.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America is the most populous region in the Concrete Bonding Agent Market. The region is seeing tremendous expansion as a result of increasing demand for infrastructure development and the growing trend of sustainable construction practices.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: CONCRETE BONDING AGENT MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Concrete Bonding Agent Market accounts for the second-largest market share due to increased demand for environmentally friendly building materials. Further, the German Concrete Bonding Agent Market held the largest market share, and the UK Concrete Bonding Agent Market was the fastest growing market in the European region
The Asia-Pacific Concrete Bonding Agent Market Is expected to grow at the fastest CAGR from 2023 to 2032. This is mostly due to increased middle-class income in emerging economies. Moreover, China’s Concrete Bonding Agent Market held the largest market share, and the Indian Concrete Bonding Agent Market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Concrete Bonding Agent Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Concrete Bonding Agent industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Concrete Bonding Agent industry to benefit clients and increase the market sector. In recent years, the Concrete Bonding Agent industry has offered some of the most significant advantages to medicine. Major players in the Concrete Bonding Agent Market, including DowDuPont (U.S.), The Euclid Chemical Company (U.S.), The QUIKRETE Companies (U.S.), GCP Applied Technologies Inc (U.S.), and Lafargeholcim (Switzerland) and others, are attempting to increase market demand by investing in research and development operations.
BASF SE is a European multinational corporation and the world's largest chemical producer. The company's headquarters are in Ludwigshafen, Germany. BASF has subsidiaries and joint ventures in over 80 countries and runs six integrated manufacturing sites as well as 390 other manufacturing locations throughout Europe, Asia, Australia, the Americas, and Africa. BASF has customers in over 190 countries and serves a wide range of sectors. In 2019, BASF SE, a German firm, purchased the assets of Admixtures, Inc., a US-based company. These advancements have aided players in the Concrete Bonding Agent Market in broadening their product ranges and strengthening their market positions.
Sika AG, headquartered in Baar, Switzerland, is a Swiss multinational speciality chemical firm that services the building and automotive industries. The company creates and manufactures bonding, sealing, damping, strengthening, and protective systems and products. It currently employs over 27,000 people, has subsidiaries in over 100 countries, and has an annual sales turnover of CHF 10.5 billion. Sika was created in 1910 by Kaspar Winkler, who laid the groundwork for the company. Winkler rose from poverty to become a successful entrepreneur, and by the 1920s, he was already establishing subsidiaries in other countries. In 2020, Sika AG, a Swiss business, has introduced SikaBond®-130, a new concrete bonding agent.
May 2022, Euclid Chemical Company, a renowned developer of concrete and masonry construction chemicals, has purchased Chryso's North American cement grinding aids and additives business. The acquired technology is offered to cement makers in order to improve cement performance and minimize CO2 emissions throughout the manufacturing process.
August 2021, Sika AG introduced a novel concrete repair solution that provides stronger long-term protection for structures while also setting a new milestone for low environmental impact concrete by dramatically lowering CO2 emissions.
January 2020, Euclid Chemical Company, a manufacturer of materials for the concrete and masonry construction industries, has introduced three new concrete bonding agent products: Eucoweld 2.0, Level Top PC-AGG, and the new and improved Kurez DR VOX.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 4.2 Billion |
| Market Size 2023 | USD 4.4 Billion |
| Market Size 2032 | USD 6.5 Billion |
| Compound Annual Growth Rate (CAGR) | 5.00% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Agent, Application, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | 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 | Rapid urbanization, industrialization, and population growth have all contributed to an increase in construction activity. |
| Key Market Dynamics | The material's demand is increasing, which can improve concrete performance and increase construction durability. |
Concrete Bonding Agent Market Highlights:
Frequently Asked Questions (FAQ) :
The Concrete Bonding Agent Market size was valued at USD 4.2 Billion in 2022.
The Concrete Bonding Agent Market is projected to grow at a CAGR of 5.00% during the forecast period, 2023-2032.
North America had the largest share in the Concrete Bonding Agent Market.
The key players in the Concrete Bonding Agent Market are DowDuPont (U.S.), The Euclid Chemical Company (U.S.), The QUIKRETE Companies (U.S.), GCP Applied Technologies Inc (U.S.), and Lafargeholcim (Switzerland).
The decorative category dominated the Concrete Bonding Agent Market in 2022.
The cementitious latex-based had the largest share in the Concrete Bonding Agent Market.
Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
