Global Concrete bonding agent Market - Overview
Concrete Bonding Agents Market size is projected as 5% for the forecast period. The concrete bonding agent market is likely to grow at an admirable CAGR between 2021-2030, according to the new report by Market Research Future (MRFR). A concrete bonding agent, simply put, is a special purpose synthetic admixture that is added to concrete to confer the same certain significant characteristics. It is mostly used for improving the bonding between the new and old concrete mix. Some of its key properties include excellent corrosion resistance, great temperature tolerance, extend the infrastructure durability, and also boost the concretes’ shelf life.
Various factors are adding to the global concrete bonding agent market growth. According to the new MRFR report, such factors include rapidly increasing urbanization and industrialization coupled with a growing population that has increased the growth of construction activities across the world, increasing investments in repairing of old buildings and in the construction sector by foreign companies, strong industrial base in the construction sector, wide applications in different end use industries, and ease of use. Additional factors adding market growth include an increase in income and living standard of the middle-class population, especially in emerging countries and an increase in decorative interior to provide pleasing finish and aesthetics for residential construction. On the contrary, limited knowledge awareness coupled with inadequate and poor workmanship, are factors that may impede the global concrete bonding agent market growth over the forecast period.
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Global Concrete bonding agent Market – Prominent Players
Lafargeholcim (Switzerland,GCP Applied Technologies Inc (U.S.),DowDuPont (U.S.),,BASF SE (Germany),Saint-Gobain Weber (France),The Euclid Chemical Company (U.S.),Sika AG (Switzerland),Fosroc, Inc. (U.K),Mapei S.P.A. (Italy),The QUIKRETE Companies (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Concrete bonding agent Market.
Many multinational companies are forging collaboration or launching joint ventures with distributors in order to achieve sustainable growth in the overall market. However, the market growth can experience glitches due to stringent regulation regarding the emission of harmful gases.
The global Concrete bonding agent Market has been segmented on the basis of application, grade, and lastly, region. The application-based segmentation of this market segments the market into automotive, consumer goods, electrical electronics, medical and others. Based on grade, the market has been segmented into food, industrial, and medical.
The regional segmentation of the global Concrete bonding agent Market comprises of continent-based regional markets known as North America, Latin America, Asia Pacific, Europe, and the Middle East Africa (MEA). According to the report, the Asia Pacific is the leading regional market. In the region, the Global Concrete Bonding Agents Market is growing due to growing demand for the LSR in electrical electronics and medical applications. Other factors responsible for the growth of the market include the easy availability of raw material, favorable government policies, and a strong distribution network. China and India are the strongest country-based markets in this region because many established players of this region are based in these countries. Being a leading market in the electronic industry and exports such products with impeccable technology innovations, China is witnessing rapid market growth. Other important country based markets in this region are Australia, Japan, and New Zealand followed by the rest of the Asia Pacific region.
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Concrete bonding agent Market - Segments:
Concrete Bonding Agents market by the agent
- Epoxy-based
- Cementitious latex-based
The epoxy concrete bonding has high demand among the end-users
Concrete Bonding Agents Market by Application
- Repairing
- Decorative
- Flooring
- Marine
Repairing and flooring segments of the market hold the highest shares in the forecast period
Concrete Bonding Agents Market by Region
- South America
- North America
- Asia-Pacific
- Europe
- Middle East Africa
- Others
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Concrete bonding agent Market - Regional Analysis:
Based on the region, the global concrete bonding agent market report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Among these, the APAC region will have the lions share in the market over the forecast period. Improving lifestyle of people, constantly growing construction industry, dynamic economic development, and growing public investment in the infrastructure development project is adding to the global concrete bonding agent market growth in the region. China, South Korea, Japan, and India have the maximum share in the region.
The global concrete bonding agent market in North America is predicted to hold the second-largest share over the forecast period. The US has the maximum share in the market for the burgeoning demand for concrete bonding agents from the growing number of reconstruction activities in this country. It is the leading market with regards to the investment in the marine industry that is likely to favor the growth of the concrete bonding agent market growth in the region.
The global concrete bonding agent market in Europe is predicted to have admirable growth over the forecast period. Italy, France, Germany, and the UK have a maximum share in the region.
The global concrete bonding agent market in Latin America and the MEA is predicted to have significant growth over the forecast period. Recent economic and political turmoil is adding to the concrete bonding agent market growth in Latin America. On the other hand, the presence growth of the building construction industry is adding to the concrete bonding agent market growth in the MEA.
Latest Industry News
The global market is witnessing a steep rise in the permeation of alcohol Concrete bonding agent across several industries. Its demand is high in the manufacturing of detergents, pharmaceutical products, personal care items, and others. After the COVID-19 pandemic, various industries have increased their intake of alcohol-based products to ensure the highest level of hygiene. This has eased the permeation of Concrete bonding agent across these industries. In fact, the demand is so high, at times, companies are failing to supply them properly.
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