Concrete Bonding Agents Market Analysis: Trends, Growth Drivers, and Forecasts
Concrete Bonding Agents Market Analysis: Trends, Growth Drivers, and Forecasts
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.

Growing Demand for Concrete Construction to Drive Growth in the Concrete Bonding Agents Market

Concrete bonding agents, also known as concrete adhesives, are materials used to bind concrete to concrete or other materials. They are primarily used for repairing and restoration of old concrete structures. Bonding agents fill the voids and pores on concrete surfaces and help achieve a strong bond after application of fresh concrete. Some key properties of concrete bonding agents include high bond strength, resistance to water, and compatibility with existing substrates including concrete, masonry and wood among others.

The global concrete bonding agents market is estimated to be valued at US$ 2,773.5 Mn in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030. Concrete bonding agents offer advantages such as improving mechanical strengths and achieving an effective bond between old and new concrete. They help extend the lifespan of structures by reinforcing and restoring cracked or damaged concrete surfaces. Growing construction and infrastructure development activities around the world have fueled the demand for concrete as a primary construction material. This in turn is driving the need for repair and restoration of older concrete structures using bonding agents.

Key Takeaways

Key players: Key players operating in the 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.

Growing demand: Increasing spending on infrastructure projects especially in developing regions of Asia Pacific and Latin America is a major factor driving the demand for concrete bonding agents. Rapid urbanization and growing construction spending are fueling the restoration and repair activities.

Technological advancements: Manufacturers are focusing on developing advanced bonding agent formulations that offer higher strength, better workability and improved compatibility with different substrates. Eco-friendly water-based products are gaining popularity owing to stringent regulations on VOC emissions.

Market Trends

1. Rising popularity of epoxy-based bonding agents - Epoxy resins form extremely strong and durable bonds and hence epoxy-based concrete adhesives are widely accepted globally. Their water resistance and elevated temperature performance has further increased their applications.

2. Growth in cementitious bonding agents - Cement-modified bonding agents that contain cement along with other binders offer high bond strength and compatibility with concrete. Their self-leveling and drying properties make them ideal for horizontal repair works.

Market Opportunities

1. Infrastructure projects in developing nations - Countries in Asia and Africa are expected to heavily invest in new roads, bridges and buildings over the coming years. This presents significant opportunities for concrete adhesive suppliers.

2. Adoption in commercial construction - Increasing construction of malls, warehouses, office spaces and other commercial facilities will drive the use of concrete bonding agents for new construction as well as repair works.

Impact of COVID-19 on Concrete Bonding Agents Market Growth

The COVID-19 pandemic had major impact on the growth of the concrete bonding agents market. During the peak of the pandemic, lockdowns were imposed globally which led to stoppage of all construction activities. This reduced the demand for concrete bonding agents in 2020. However, infrastructure construction was declared as an essential service in many countries which helped sustain some level of demand. With easing of restrictions in 2021, construction activities resumed gradually. But disruptions in supply chains, shortage of labor and increased prices of raw materials slowed down the market recovery. In 2022, post pandemic recovery has gained momentum as most countries have lifted lockdowns completely. Infrastructure development plans of many governments are boosting the use of concrete bonding agents again. While challenges remained in first half of 2022 due to high inflation and geopolitical issues, the market is estimated to grow at a steady pace in coming years backed by robust pipeline of projects worldwide. Concrete bonding agent manufacturers will have to focus on increasing production capacities and ensuring stable supply to cater growing demand in post COVID scenario.

The value for concrete bonding agents market is most concentrated in North America region. Countries like United States and Canada have extensive highways, bridges and building construction activities on a large scale. According to industry estimates, the market size for concrete bonding agents was around US$ 900 Mn in United States alone in 2023. Robust infrastructure spending by governments in these countries to upgrade ageing infrastructure is driving the demand. Europe is also a major geographical region for this market attributed to ongoing infrastructure modernization projects. Developing regions of Asia Pacific and Middle East & Africa are witnessing fastest growth for concrete bonding agents market. Increasing investments in road networks, railways and buildings due to rapid urbanization is boosting the consumption. China emerged as the fastest growing country due to massive nationwide infrastructure development mission underway. India is projected to be the second fastest growing market in coming years supported by various redevelopment projects.

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