Reinforced Concrete Is The Fastest Growing Segment Fueling The Growth Of Concrete Bonding Agents Market

 

Concrete bonding agents are chemical compounds used to bond freshly placed concrete to hardened concrete. They are mainly used in construction applications requiring concrete repairs or where new concrete is poured against hardened concrete. Concrete bonding agents ensure maximum adhesion and durability.

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:
One of the key trends in the concrete bonding agents market is the rising demand for epoxy-based concrete bonding agents. Epoxy-based concrete bonding agents tend to have better adhesion to both old and new concrete surfaces when compared to cement-based bonding agents. They also have high chemical and water resistance. Epoxy concrete bonding agents can withstand harsh environments and weathering better. Their superior adhesive properties make them suitable for repairs in structures located in corrosive industrial environments.
Segment Analysis
The global concrete bonding agents market is broadly segmented into cementitious latex based and epoxy based. Among these, the cementitious latex based segment dominates the market and accounts for around 60% share. This is because cementitious latex based concrete bonding agents are inexpensive and provide good adhesion when mixed with water and cement or concrete.

Key Takeaways
The global concrete bonding agents market is expected to witness high growth, exhibiting CAGR of 8.2% over the forecast period, due to increasing infrastructure development activities worldwide. The growing construction spending in emerging economies offer huge growth potential to the market.

Regional analysis
Asia Pacific dominates the global concrete bonding agents market and is expected to maintain its lead over the forecast period. This is attributed to rapid urbanization and industrialization in China and India. Further, increasing spending on infrastructure projects across Southeast Asian countries is also fueling market growth in the region.

Key players
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. Sika AG is one of the leading players owing to its wide international presence and broad product portfolio.

*Note:

1.Source: Coherent Market Insights, Public sources, Desk research

2.We have leveraged AI tools to mine information and compile it


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