Concrete Bonding Agents Market

Concrete Bonding Agents Market - Insights, Opportunity
Analysis, and Industry Forecast till 2025
Concrete bonding agents are bonding materials used to bond a new concrete
structure with the existing or hardened concrete structure. Concrete bonding
agents are used on existing concrete structures to maintain the strength and
integrity of the old surface. The cementitious-based latex agents market segment
dominated the market of concrete boding agents in 2016, according to the stats
provided by Coherent Market Insights. Cementitious-based latex agents is
gaining traction over epoxy-based agents due to relatively low cost.
Furthermore, cementitious latex-based agents comprise many polymeric resins
such as styrene butadiene rubber (SBR), acrylics, and polyvinyl acetate (PVA),
which helps in enhancing the durability and flexibility of the concrete overlay
and thus, provides substantial adhesion properties to the existing concrete
structure. This in turn, is fueling growth of the global concrete bonding agents
market, a trend that is expected to sustain over the forecast period.
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Regional Insights
Asia Pacific, followed by North America and Europe, respectively accounted
for major share in the global concrete bonding agents market both in terms of
revenue and volume in 2016 and the trend is estimated to remain the same over
the forecast period. In 2016, Asia Pacific held a market share of 50.3% in terms
of value in the global concrete bonding agents market. Demand for repairing,
flooring, and decorative activities in Asia Pacific is gaining unparalleled traction
due to the flourishing building & construction sector and the region emerging as
a major economic hub has led to increasing development of commercial and
industrial buildings. This in turn has positioned Asia Pacific as the growth
engine for the global concrete bonding agents market over the forecast period.
According to a study conducted by Coherent Market Insights, the Asia Pacific
region is expanding at a CAGR of 8.1% in the global concrete bonding agents
market during the forecast period. Growing urbanization and increasing
construction activities especially in emerging economies of India and China is a
major factor fueling demand for effective repairing works, flooring and
decorative activities, subsequently fueling growth of the concrete bonding
agents market in the region. For instance, as per statistics released by India
Brand Equity Foundation (IBEF)—a Trust established by the Department of
Commerce, Ministry of Commerce and Industry, Government of India—the
Indian government plans to invest US$ 376.53 billion in infrastructure
development over the following three years.
Multinational players
Major players in the global concrete bonding agents market include 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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Concrete Bonding Agents Market report categorizes global market by Agent (Cementitious Latex Based Agents, Epoxy Based Agents), Application, and Geography - Insights, Opportunity Analysis, and Industry Forecast till 2025