April 18, 2024

Segment Concrete Floorings Is The Largest Segment Driving The Growth Of Concrete Bonding Agents Market

Concrete bonding agents are chemical compounds that are used to bond fresh concrete to hardened concrete and other cement substrates. They improve adhesion and enhance the durability of repairs by filling voids and imperfections in concrete surfaces. Concrete bonding agents find wide applications in flooring, repair works and construction activities.

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:
One of the key trends in the concrete bonding agents market is the rising demand for green and sustainable construction materials. With growing environmental consciousness, there is increasing focus on reducing the carbon footprint of construction activities. Many players are developing eco-friendly concrete bonding agents made from natural and recycled materials that cure faster and provide long-lasting bonds. These green bonding agents not only help meet sustainability goals but also improve workability and cost-efficiency. Their superior bonding strength allows reducing material usage.
SWOT Analysis

Strength: Concrete bonding agents are cost effective and enhance the bonding properties of concrete. They improve the adhesion and increase the strength of concrete structure.

Weakness: Some concrete bonding agents contain volatile organic compounds (VOCs) which can release gases that are potentially harmful. Improper application and curing of concrete bonding agents can reduce their effectiveness.

Opportunity: Growing construction industry worldwide especially in Asia Pacific region due to rapid urbanization and industrialization is driving the demand for concrete bonding agents. Increasing repair and rehabilitation activities of aging infrastructure also presents an opportunity.

Threats: Strict environmental regulations regarding the use of VOCs in concrete bonding agents can hamper the market growth. Availability of alternative bonding materials like epoxy also poses a threat.

Key Takeaways

The global Concrete Bonding Agents market is expected to witness high growth, exhibiting CAGR of 8.2% over the forecast period, due to increasing construction activities worldwide driven by rapid urbanization and industrialization.

Regional analysis: Asia Pacific region dominates the global market and is expected to grow at fastest pace during the forecast period. Presence of developing economies like China and India with high infrastructure development and construction investment promotes the use of concrete bonding agents in the region.

Key players operating in the Concrete Bonding Agents market 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, Dow Corning Corporation, and The Quikrete Companies, Inc. These players are focusing on new product launches and expanding their geographical presence especially in developing nations to strengthen their market position.

*Note:

1.Source: Coherent Market Insights, Public sources, Desk research

2.We have leveraged AI tools to mine information and compile it