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 2030.
Concrete Bonding Agent Market Analysis and Size
The essential factors contributing to the growth of the global concrete bonding agent market in the forecast period of 2023 to 2030 include the rise in luxury residential and commercial constructions. Also, the frequent utilization for repair and restoration purposes, and the necessity to repair existing buildings is significantly contributing to the market’s growth.
Data Bridge Market Research analyses that the global concrete bonding agent market which was USD 4.34 billion in 2022, is expected to reach USD 8.52 billion by 2030, growing at a CAGR of 8.80 % during the forecast period of 2023 to 2030. In 2023, repairing segment will dominate the market due to the rise in luxury residential and commercial constructions. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Concrete Bonding Agent Market Scope and Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2023 to 2030
|
|
Base Year
|
2022
|
|
Historic Years
|
2021 (Customizable to 2015-2020)
|
|
Quantitative Units
|
Revenue in USD Billion
|
|
Segments Covered
|
Method (Manual, Spraying, Pouring), Agent (Cementitious Latex Based Agents, Epoxy Based Agents), Application (Repairing, Decorative, Flooring, Marine)
|
|
Countries Covered
|
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.), among others
|
|
Market Opportunities
|
|
Market Definition
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.
Global Concrete Bonding Agent Market Dynamics
Drivers
- 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
- Expansion of Luxury and Commercial Constructions
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
Opportunity
- High Investments in Research And Development
Furthermore, the increasing research and development activities further extend profitable opportunities to the market players in the forecast period of 2023 to 2030. In addition, the high investment made by government on repair and the maintenance will further expand the future growth of the concrete bonding agent market
Restraints/Challenges
- Regulatory Compliance and Environmental Concerns
One potential restraint in the concrete bonding agent market is regulatory compliance and environmental concerns. Stringent regulations related to the use of bonding agents, particularly those containing volatile organic compounds (VOCs) or hazardous chemicals, may limit product options and increase production costs. In addition, growing environmental awareness may lead to a shift towards eco-friendly bonding agents, posing challenges for traditional formulations. Companies may need to invest in research and development to adapt to changing regulations and consumer preferences
- Compatibility Issues with Various Concrete Surfaces
A notable challenge in the concrete bonding agent market is ensuring compatibility with a wide range of concrete surfaces and conditions. Achieving strong and durable bonds can be challenging when dealing with varying concrete compositions, surface conditions, and temperatures. Manufacturers must invest in research and development to create versatile bonding agents that can effectively adhere to different substrates, addressing the diverse needs of construction projects and environmental conditions
Recent Developments
- In May 2022, Euclid Chemical Company, a leading manufacturer of concrete and masonry construction products, acquired Chryso's North American cement grinding aids and additives business. The acquired technologies are sold to cement manufacturers to enhance the performance of cement and to reduce CO2 emissions during its production
- In August 2021, Sika AG, launched a new concrete repair solution that provided greater long-term protection for buildings and set a new standard for low environmental impact concrete by significantly reducing CO2 emissions
- In January 2020, Euclid Chemical Company, a manufacturer of products for the concrete and masonry construction industry, launched three new concrete bonding agent products, Eucoweld 2.0, Level Top PC-AGG and new and improved Kurez DR VOX
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Concrete Bonding Agent Market Scope
The global concrete bonding agent market is segmented on the basis of method, agent and application. The growth amongst these segments will help you analyse 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.
Method
- Manual
- Spraying
- Pouring
Agent
- Cementitious Latex Based Agents
- Epoxy Based Agents
Application
- Repairing
- Decorative
- Flooring
- Marine
Global Concrete Bonding Agent Market Regional Analysis/Insights
The global concrete bonding agent market is analyzed and market size insights and trends are provided by method, agent and application as referenced above.
The countries covered in the global concrete bonding agent market report are 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.
Asia-Pacific is expected to dominate the concrete bonding agent market due to the increasing usages of the concrete bonding agent for repair and restoration purposes, the necessity to repair existing buildings is growing. In Asia-Pacific, China is expected to dominate the market due to the increased compatibility of concrete bonding agents with Portland and other hydraulic cements.
North America is expected to grow during the forecast period of 2023 to 2030 due to the growing focus on luxury residential and commercial constructions. In North America, U.S. is expected to dominate the market due to urbanization and rising disposable incomes in the population.
The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and up-stream 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 Global 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 global concrete bonding agent market.
Some of the major players operating in the global 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.)
SKU-