Global Concrete Bonding Agent Market, By Method (Manual, Spraying, Pouring), Agent (Cementitious Latex Based Agents, Epoxy Based Agents), Application (Repairing, Decorative, Flooring, Marine) – Industry Trends and Forecast to 2029
Market Analysis and Size
Over the last few years, there has been immense growth in the bonding agents due to the extensive application of the product, along with an ease of use. Additionally, there has been strong development in construction and repairing activities further boosts the overall growth for the market.
Global concrete bonding agent market was valued at USD 3.99 billion in 2021 and is expected to reach USD 7.83 billion by 2029, registering a CAGR of 8.80% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2014 - 2019)
Revenue in USD Billion, Volumes in Units, Pricing in USD
By Method (Manual, Spraying, Pouring), Agent (Cementitious Latex Based Agents, Epoxy Based Agents), Application (Repairing, Decorative, Flooring, Marine)
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
Market Players Covered
Evonik Industries AG (Germany), Arkema (France), Hexion (U.S.), Huntsman International LLC (U.S.), Cardolite Corporation (U.S.), BASF SE(Germany), Cardolite Corporation (U.S.), Kukdo Chemical Co., Ltd., (South Korea), Dupont (U.S.), DAIKIN (Japan), Bostik (France), H.B. Fuller Company (U.S.), Sika AG (Switzerland), Freudenberg SE (Germany), Aditya Birla Group Chemicals (India), Mitsubishi Chemical Corporation (Japan), DOW (U.S.), SOLVAY (Belgium), Air Products, Inc., (U.S.) and Momentive (U.S.)
Bonding agents are organic, synthetic, or chemical substances that are used to improve the bonding of specific structural components without the use of mechanical fasteners. Concrete bonding chemicals are frequently used in repair applications, such as bonding new concrete, concrete that has been sprayed, or mortar made of sand and cement to hardened concrete.
Concrete Bonding Agent Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- High Usage of Concrete Bonding Agent
As it is frequently utilized for repair and restoration purposes, the necessity to repair existing buildings is growing. Aside from that, rather than tearing down an old building and erecting a new one, various national governments make significant investments in mending and restoring existing structures. The increased compatibility of concrete bonding agents with Portland and other hydraulic cements is another factor that is anticipated to fuel the growth of the global market for concrete bonding agents during the projected period.
Furthermore, the luxury residential and commercial constructions have expanded along with urbanization expansion and rising disposable incomes in the population, which is what is driving the growth of the concrete bonding agents market. The growing income of people leading to growth in infrastructural development further boosts the market growth.
- High Investments And Research And Development
Furthermore, the increasing research and development activities further extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the high investment made by government on repair and the maintenance will further expand the future growth of the concrete bonding agent market.
- Lack Of Research And Development
Lack of knowledge regarding authorized concrete bonding components may slow overall expansion. Because fewer people are aware of the product, market growth may slow down. Important players are making efforts to raise product awareness. During the forecast term, this market restriction is likely to persist.
- Negative Impact of Pandemic
The COVID-19 epidemic has a substantial effect on market expansion. Market disruptions caused by the supply chain are significant at the moment. Exports and imports, particularly internationally, are constrained. These difficulties hinder the growth rate during the projection timeframe. Additionally, there are fewer experts who know how to properly mix concrete and bonding agents. It is yet another difficult aspect of this industry. Therefore, these factors will challenge the concrete bonding agent market growth rate.
This concrete bonding agent market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the concrete bonding agent market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Concrete Bonding Agent Market
The recent outbreak of coronavirus had a negative impact on the concrete bonding agent market. The world over, construction activity has abruptly decreased. These market operations may be impacted by supply disruptions. Construction sites employ concrete bonding. Delivery and supply delays are common in many regions. Due to COVID spread, the top building firms are cancelling the demand. Construction and renovation projects are hampered during this time. Growth is being hampered by declining demand for bonding agents. During this time, bonding applications for flooring, decorating, and repairs are postponed. It is tough for the market's workers to travel. Challenges are being posed by the worldwide limitations and lockdowns. Nationwide, there are less building supplies and activities.
There has been a general decline in supply and demand rates. The economy of countries like China and India are growing quickly, though. As a result, the markets for concrete bonds will have greater prospects in the years to come. The main producers of this material are Japan, China, and India, and the demand from consumers will drive even greater expansion.
Global Concrete Bonding Agent Market Scope
The concrete bonding agent market is segmented on the basis of method, agent and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Cementitious Latex Based Agents
- Epoxy Based Agents
Concrete Bonding Agent Market Regional Analysis/Insights
The concrete bonding agent market is analyzed and market size insights and trends are provided by country, method, agent and application as referenced above.
The countries covered in the concrete bonding agent market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the market in terms of market share and revenue, and this dominance is expected to continue during the forecast period of 2022-2029. This region's market growth is attributed to new construction projects, easy availability of raw materials, and rising research activities.
North America, on the other hand, is expected to grow rapidly over the forecast period of 2022-2029, owing to increased spending on research and development in the region's emerging economies.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Concrete Bonding Agent Market Share Analysis
The concrete bonding agent market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to concrete bonding agent market.
Some of the major players operating in the concrete bonding agent market are
- Evonik Industries AG (Germany)
- Arkema (France)
- Hexion (U.S.)
- Huntsman International LLC (U.S.)
- Cardolite Corporation (U.S.)
- BASF SE (Germany)
- Cardolite Corporation (U.S.)
- Kukdo Chemical Co., Ltd., (South Korea)
- Dupont (U.S.)
- DAIKIN (Japan)
- Bostik (France)
- H.B. Fuller Company (U.S.)
- Sika AG (Switzerland)
- Freudenberg SE (Germany)
- Aditya Birla Group Chemicals (India)
- Mitsubishi Chemical Corporation (Japan)
- DOW (U.S.)
- SOLVAY (Belgium)
- Air Products, Inc., (U.S.)
- Momentive (U.S.)