by Concrete Bonding Agents Market is poised to grow by enhanced construction activities in emerging nations
The concrete bonding agents market plays a critical role in enhancing the durability and strength of concrete mixtures through the process of binding aggregate materials together. Concrete bonding agents are adhesion promoters that are applied to concrete surfaces to improve bonding between old and new concrete. They create a mechanical and chemical bond between substrates and concretes, mortars, screeds, renders and other cementitious materials. Concrete bonding agents find widespread application in repairing cracked or damaged concrete surfaces in buildings and infrastructure. The Global Concrete Bonding Agents Market is estimated to be valued at US$ 2,773.5 Mn in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030.
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 bonding agents promote the adhesion of new concrete to old surfaces and fill voids or rock pockets beneath slabs. They assist in dustproofing, waterproofing and fireproofing of constructions. The growing infrastructure development and construction spending in emerging nations of Asia Pacific and Latin America are fueling the demand for concrete bonding agents.
Key Takeaways
Key players: Sika AG, Fosroc International Ltd., and BASF SE dominate the global concrete bonding agents market with their extensive product portfolio and widespread distribution network.
Growing demand: The rapid urbanization and increasing investments in building smart cities and transportation infrastructure are driving the consumption of concrete bonding agents across both developing and developed nations.
Global expansion: Leading manufacturers are expanding their geographical footprint through partnerships and mergers with local players to capitalize on the construction boom in developing economies.
Market key trends
The concrete bonding agents market is witnessing increased adoption of eco-friendly, low-VOC products to comply with stringent environmental regulations. LEED certified green concrete admixtures incorporating bio-based and recycled materials are gaining popularity. Moreover, the development of non-shrink and fast setting concrete bonding formulations for applications in repair works requiring early load bearing is a key trend in the industry.
Porter’s Analysis
Threat of new entrants: High capital requirements for production facilities and R&D restrict new players to enter the market. Bargaining power of buyers: Concrete bonding agents are available from multiple brands, hence buyers have moderate bargaining power. Bargaining power of suppliers: Raw materials required for manufacturing concrete bonding agents are widely available from multiple suppliers globally providing them lower bargaining power. Threat of new substitutes: With technological advancement in the construction industry, new alternatives are emerging but concrete bonding agents still dominate the demand. Competitive rivalry: Being a consolidated market, key market players compete on product differentiation, geographical expansion, and production capacity expansion.
Geographical regions with high market value concentration: North America region dominates the global concrete bonding agents market in terms of value, accounting for over 35% of the global market share. This is attributed to high construction activities in the US and Canada.
Fastest growing region: Asia Pacific region is expected to witness the highest CAGR of 9.5% during the forecast period. Rapid infrastructural development and industrial growth in China and India are driving the concrete bonding agents demand in this region.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
