Concrete bonding agents, also known as concrete adhesives, are used to join concrete structures like precast panels, repairing cracked or damaged concrete, bonding freshly poured concrete to hardened surfaces. They provide strong adhesion, improve durability and ensure longevity of concrete 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:
With increasing infrastructural development activities across both developed and developing regions due to rapid urbanization and industrialization, the demand for concrete as a primary construction material has been rising substantially. This has been a major factor propelling the growth of the concrete bonding agents market as they improve the bonding strength of concrete, thereby allowing faster construction with pre-fabricated components. The bonding agents provide strong adhesion between old and new concrete surfaces or structures joined together using them. Their use enables joining of pre-cast concrete elements quickly on site with high early strength development.
SWOT Analysis
- Strength: Concrete bonding agents offer strong adhesion and excellent bonding characteristics to concrete surfaces. They bond new concrete to old concrete providing structural integrity.
- Weakness: Concrete bonding agents require surface preparation and application expertise. Their effectiveness depends on proper substrate preparation and application procedures.
- Opportunity: Increasing construction of roads, buildings, and infrastructure will drive the demand for concrete bonding agents in various construction applications. Rapid urbanization and infrastructure development especially in emerging economies offer growth opportunities.
- Threats: Stringent environmental regulations pertaining toVOC emissions can restrict the growth prospects of solvent-based concrete bonding agents. Volatility in raw material prices is a major threat.
Key Takeaways
The global concrete bonding agents market is expected to witness high growth.
Regional Analysis: North America currently dominates the market owing to significant infrastructure investment and renovations in the region. Concrete bonding agents find widespread application in road construction, repair works, and industrial usage.
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, and Dow Corning Corporation. These companies are focused on new product launches and expanding their presence across major markets through partnerships and mergers.
