Drone Delivery is the fastest growing segment fueling the growth of Concrete Bonding Agents Market
Market Overview:
Concrete bonding agents are surface applied products used to enhance the bonding strength between old and new concrete. They provide durability and strength to concrete structures. They are widely used in repairing cracks, bonding new concrete overlays onto existing structures and slab repairs.
Market key trends:
One of the major trends witnessed in the concrete bonding agents market is the growing use of epoxy and acrylic based agents. Epoxy and acrylic based agents have high bonding strength and excellent adhesive properties. They offer good chemical and electrical resistance. They find wide application in bonding precast concrete, overlay concrete, repairing cracks in concrete structures. These agents have long gel and cure time enabling better workability for applicators.
Segment Analysis
The Concrete Bonding Agents Market Share is segmented by type and application. Based on type, the market is segmented into cementitious latex based and epoxy based. The cementitious latex based segment dominated the market in 2022 and is expected to continue its dominance over the forecast period. This is because cementitious latex bonding agents are easy to use, cost effective and provide strong bonding.
Key Takeaways
The global concrete bonding agents market is expected to witness high growth, exhibiting a CAGR of 8.2% over the forecast period, due to increasing infrastructure development activities across the world.
The Asia Pacific region is expected to dominate the concrete bonding agents market over the forecast period. This is attributed to rapid urbanization and industrialization activities in emerging economies such as China and India.
The concrete bonding agents market size is expected to reach US$ 3002.31 Mn in 2023.
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. Among these, Sika AG holds the major market share globally due to its diverse product portfolio and strong distribution network across regions.
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