Concrete Bonding Agents Market is Estimated to Witness High Growth Owing to Increasing Usage of Concrete Bonding Agents in Construction Projects
The concrete bonding agents market is used to join existing concrete to fresh poured concrete or repair work on concrete structures. Concrete bonding agents form a protective layer between the existing concrete surface and the newly added concrete, helping bond them together effectively. They help extend the service lifetime of structures by facilitating repair works. Concrete bonding agents provide strong adhesion and are water resistant to withstand weathering.
The Global concrete bonding agents market is estimated to be valued at US$ 3250.01 Mn in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the concrete bonding agents 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. The rising urbanization and growing construction sector especially in emerging countries of Asia Pacific and Middle East & Africa are fueling the demand for concrete bonding agents in these regions. Technological advancements like expansive and self-leveling concrete bonding agents have widened the scope of application in concrete repair and renovation projects.
Market drivers
The major market driver for concrete bonding agents is the rapid growth of the construction industry globally. Increasing construction of residential and commercial buildings coupled with rising infrastructure development projects are majorly boosting the demand for concrete bonding agents. Concrete bonding agents help facilitate repair and renovation work of existing structures, thereby reducing construction wastage and assisting sustainability goals. The growing focus on increasing the lifespan of structures through repairs and maintenance is expected to propel the concrete bonding agents market during the forecast period.
Current challenges in Concrete Bonding Agents Market:
The Concrete Bonding Agents Market Demand is facing challenges due to volatile raw material prices and environmental concerns regarding the use of certain chemicals in bonding agents. Strict regulatory norms regulating VOC emissions from adhesives and sealants are hindering market growth. Also, lack of awareness about advanced bonding agent technologies in some regions poses a major challenge.
SWOT Analysis
Strength: Concrete bonding agents provide strong bonding between old and new concrete surfaces. They improve compressive strength and durability of repaired or overlaid concrete.
Weakness: Some concrete bonding agents contain chemicals like solvents and epoxies that have strong odors and risks of igniting easily. Curing time also varies according to climatic conditions.
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