by Concrete bonding agents are specialized products applied to prepare concrete surfaces for bonding new concrete layers to existing structures. They are used to achieve better mechanical interlocking and adhesion between new and old concrete masses. Concrete bonding agents help eliminate delamination and ensure composite action between substrates. They work by penetrating concrete surfaces and establishing a mechanical and chemical bond with concrete particles. Key functions of concrete bonding agents include improving bond strength, eliminating delamination, decreasing permeability, minimizing cracking, and providing corrosion resistance. The global concrete bonding agents market is projected to witness significant growth over the forecast period owing to large-scale infrastructure development activities across both developed and developing economies. The increasing commercial and residential construction spending is further driving the demand for these adhesives. 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 observed in the concrete bonding agents market is the development of eco-friendly products. Manufacturers are formulating bonding agents with reduced VOC content and low odor to meet environmental regulations and cater to end-user demand for sustainable construction materials. Water-based concrete bonding agents pose less health hazards and provide comparable performance to solvent-based variants. Moreover, innovations focused on enhancing the durability and early strength properties of concrete bonding adhesives are expected to boost their adoption in infrastructure repair and rehabilitation projects. Advanced resin technologies enable products to perform efficiently even under adverse environmental conditions. Ongoing R&D aimed at utilizing bio-based and recycled raw materials in concrete bonding formulations will further support environment-friendly product launches in the coming years.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the concrete bonding agents market is moderate due to certain barriers such as high capital requirements and established brand loyalty of existing players. However, manufacturing process of concrete bonding agents is not very complex opening opportunities for emerging players.
Bargaining power of buyers: The bargaining power of buyers in the concrete bonding agents market is high due to availability of substitutes. Buyers can easily switch between concrete bonding agents provided by various brands based on their specifications and pricing.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as key raw materials for concrete bonding agents such as cement, resins, and polymers have few substitutes and suppliers have differentiation in terms of quality and service. However, presence of many suppliers limits their influence over pricing.
Threat of new substitutes: The threat of substitutes is moderate as concrete bonding agents have certain performance advantages over alternative construction adhesives. However, modified cementitious formulations continue to emerge as substitutes.
Competitive rivalry: The competitive rivalry in the concrete bonding agents market is high due to presence of numerous regional and international brands competing on factors such as pricing, product quality, and innovation.
Key Takeaways
The global Concrete Bonding Agents market is expected to witness high growth.
Regional analysis: The Asia Pacific region currently dominates the concrete bonding agents market and is expected to maintain its lead over the forecast period. This is attributed to rapidly growing construction activities in emerging economies such as China and India. Meanwhile, Europe and North America are also expected to register stable growth due to recovery in construction sector post COVID-19 pandemic in major economies.
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.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
