Concrete Bonding Agents Market Growth Accelerated by Increasing Infrastructure Development

 

Concrete bonding agents are special types of adhesives used for joining concrete to concrete, masonry or other surfaces. They help in bonding freshly poured or pre-placed concrete to hardened or cured concrete. With rapid urbanization and growing infrastructure projects across both developed and emerging economies, the demand for construction materials including concrete is rising substantially. This is driving the need for concrete bonding agents to ensure secure bonding of concrete surfaces in structures. 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:

The growth of the concrete bonding agents market is majorly attributed to increasing infrastructure development projects across both commercial and residential sectors globally. Mega infrastructure projects related to roadways, railways, housing, airports and urban metro systems require massive utilization of concrete as primary construction material. This vast consumption of concrete is propelling the demand for concrete bonding agents to achieve robust bonding of concrete surfaces during construction. Advance bonding agent formulations ensuring high early strength development and durability against harsh weather conditions are witnessing increasing preference. Ongoing research and development activities to produce eco-friendly and low VOC concrete bonding agents will further support the market growth over the coming years.

Segment Analysis

The global concrete bonding agents market is segmented by type into cementitious latex based agents and epoxy based agents. The cementitious latex based segment holds the dominant market share owing to its wide applications in construction activities such as repairing of old structures, new concrete work, improvements to existing structures, etc. Cementitious latex agents possess properties like high bond strength, resistance to extreme environmental conditions and chemical exposure which has led to their increased adoption over other types.

Key Takeaways

The global concrete bonding agents market is expected to witness high growth during the forecast period of 2023 to 2030. The market size for 2024 is estimated to be US$ 2,773.5 Mn.

Regional analysis: The Asia Pacific region is expected to grow at the fastest pace in the concrete bonding agents market during the forecast period. This can be attributed to strong growth in the construction sector led by countries like China and India investing heavily in infrastructure development projects. Rapid urbanization and government initiatives for housing are fueling demand for concrete in this 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. 

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