Rising Inclination towards Sustainable Construction to Fuel the Concrete Bonding Agents Market
The Concrete Bonding Agents Market is estimated to be valued at US$ 56.26 Bn in 2022 and is expected to exhibit a CAGR of 4% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
· Strength: Epoxy-based concrete bonding agents provide strong bonding and are durable. They help repair structures effectively.
· Weakness: Some concrete bonding agents require surface preparation for effective bonding which increases labor cost. Curing time is also longer for some products.
· Opportunity: Growing infrastructure development and repair activities across regions present an opportunity for concrete bonding agent providers.
· Threats: Stringent environmental regulations around VOC emissions from some concrete bonding agents. Fluctuating raw material prices impact the overall cost.
Key Takeaways
The Global Concrete Bonding Agents Market Growth is expected to witness high, exhibiting CAGR of 4% over the forecast period, due to increasing infrastructural activities and repair of ageing structures.
Regional analysis related content comprises
The Asia Pacific region dominates the concrete bonding agents market with a share of over 35% in 2022. Rapid urbanization and investments in infrastructure development are driving the demand for concrete bonding agents especially in India and China. Countries in Europe and North America also provide significant growth opportunities attributed to the repair and retrofitting projects of existing structures.
Key players
Key players operating in the Concrete Bonding Agents market are BASF SE, Fosroc International Ltd., DowDuPont Inc., GCP Applied Technologies Inc., The Quikrete Companies.
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