The Global Concrete Bonding Agents Market was valued at US$ 2.77 billion in 2016, according to a new report published by Coherent Market Insights. Increasing construction activities to sustain the ever increasing population, especially in Asia Pacific and Latin America is surging demand for repairing, flooring, and decorative activities. Concrete bonding agents are gaining traction in repairing old infrastructure, due to their high bond strength, and maintaining high integrity when applied to old constructed surface. Moreover, these agents are highly preferred for their use as thin layer toppings in flooring application.
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The global concrete bonding agents market is segmented into various applications namely repairing, flooring decorative, and marine. Repairing is the largest application segment due to growing need of repair and restoration activities for enhancing the quality of roads, bridges, parking areas, and old infrastructure for maintaining the strength and integrity. The high exposure to diverse climatic variations and pollution leads to concrete damage and compaction needs timely reparation; which in turn is enhancing the growth of concrete bonding agents in repair & restoration activities to maintain the infrastructure for generations.
Decorative application is the fastest growing application due to their effective bond strength when used in overlays and micro toppings for creating the architectural ascent. The growing need of well-furnished homes, highly luxurious residential apartments due to the growing urbanization, and rising disposable incomes of the people in Asia-Pacific, and Latin America are making decorative as the as the fastest-growing application in the concrete bonding agents market. Also, these agents are now extensively used in flooring applications such as extensions to structural concrete in factories, loading bays, bridges, roads, bonded or granolithic floor toppings due to their high flexibility, and maintaining compressive, flexural and tensile strength of cementitious systems. Furthermore, the rise in demand of concrete bonding agents for repairing the submerged structures in marine application are also contributing towards growth of the global concrete bonding agents market.
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Key takeaways of the market:
- Asia-Pacific is projected to be the largest region in global concrete bonding agents market. It accounted for around 50.3% share of overall concrete bonding agents market in 2016, in terms of revenue. The market in this region is expected to be primarily driven by rampant growth of major end-use industries in China, India, and ASEAN countries. The growing repairing, flooring, and decorative activities due to the high growth in construction sector in the region creates a highly conducive environment for market growth.
- The market in Latin America, Middle East, and Africa is expected to register a significant growth rate over the forecast period. Rise in infrastructure development along with increasing demand of building new houses, are expected to create lucrative growth opportunities for the major players in these regions.
- The cementitious latex-based concrete bonding agents was the dominant segment in the global concrete bonding agents market in 2016 and the trend is expected to remain the same during the forecast period. The major factors for the high preference of these concrete bonding agents is that they offer effective water resistance, ageing characteristics, ultraviolet stability, and are highly compatible with cement. Also, these bonding agents are cost-effective and are available in a variety of formulations. Owing to these factors, these agents are the perfect binders for the cementitious water-based paints and waterproof coatings, which in turn are highly preferred by the end-users for the flooring, decorative, and renewal & restoration activities. Hence, making the cementitious latex based concrete bonding agents as the largest agent type segment in the global concrete bonding agents market.
- 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. are some of the key players in global concrete bonding agents market.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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