Concrete Bonding Agents Market Growth Accelerated by Increasing Infrastructure Development Projects

 

Concrete bonding agents are adhesives that are used to join concrete surfaces like concrete to concrete, concrete to other materials or even repair cracks in concrete. They provide exceptional strength and durability. With rapid urbanization and growing infrastructure development activities across both developed and emerging economies, the demand for concrete and related materials like concrete bonding agents has accelerated. 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:
The increasing number of infrastructure development projects like construction of buildings, roads, bridges etc driven by growing urbanization is a major factor driving the demand for concrete bonding agents. Various governments across regions like Asia Pacific, Latin America, Middle East and Africa are investing heavily in development of transportation and housing infrastructure to support economic growth. This rising infrastructure spending is positively impacting the concrete bonding agents market. With continued investments in infrastructure, the market for concrete bonding agents is expected to grow at a steady pace over the forecast period.

Segment Analysis
The global concrete bonding agents market is segmented on the basis of type and application. Based on type, the cementitious segment dominates the market. Cementitious concrete bonding agents provide superior bonding and thus find widespread adoption in construction applications where high strength bonding is required. These agents also allow the concrete to bond effectively despite presence of moisture.

Key Takeaways
The global concrete bonding agents market is expected to witness high growth over the forecast period of 2023 to 2030 owing to increasing construction activities worldwide.

The Asia Pacific region holds the major share in the global concrete bonding agents market and is expected to maintain its dominance over the forecast period. Rapid urbanization and industrialization in countries such as China, India, Indonesia, Thailand and Vietnam has propelled infrastructure development including construction of roads, buildings, bridges etc. This has significantly driven demand for concrete and concrete bonding agents in the region.

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.

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