The concrete bonding agents market is estimated to be valued at US$ 56.26 Bn in 2022 and is expected to exhibit a CAGR of 4% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Concrete bonding agents are specialty chemicals applied to the surface of concrete to improve adhesion of new concrete to existing concrete surfaces. They are generally composed of polymers blended with epoxy resins, latexes, or cementitious materials. Concrete bonding agents are used for bonding freshly poured concrete to hardened or "green" concrete. They provide a chemical and mechanical bond between the two layers. Common applications include repairing cracks and joints in floors, walls, roads, and bridge decks.

Market Dynamics:

The concrete bonding agents market is expected to grow due to rising construction activities and improving infrastructure development across both developed and emerging economies. The increasing spending on infrastructure projects such as highways, bridges, roads, and buildings are driving the demand for concrete bonding agents. According to the Global Infrastructure Outlook, global infrastructure investment needs are projected to reach $94 trillion by 2040. In addition, various government initiatives focused on developing smart cities and improving urban infrastructure are augmenting market growth. For instance, the Government of India has launched programs such as Smart Cities Mission and AMRUT to boost infrastructure development.

Segment Analysis

The global concrete bonding agents market is segmented based on agent type as cementitious latex-based and epoxy-based. The cementitious latex-based segment currently dominates the market due to its easy availability and lower cost as compared to other segments. The epoxy based segment is expected to grow at a higher pace during the forecast period owing to its high strength, resistance to chemicals and moisture.

PEST Analysis

• Political: Growth of the construction industry in developing nations owing to supportive government policies will boost the concrete bonding agents market growth.
• Economic: Increasing disposable income, rising population and rapid urbanization are the key factors driving the growth of building and construction sector which will positively impact the market.
• Social: Changing lifestyle and rising spending on residential and commercial infrastructure will accentuate the product demand over the coming years.
• Technological: Ongoing R&D activities for new product developments with better and environmental-friendly properties will create new application opportunities in the market.

Key Takeaways

The Global Concrete Bonding Agents Market Demand is expected to witness high growth, exhibiting CAGR of 4% over the forecast period, due to increasing infrastructural developments and residential construction activities across the globe. The market size in 2022 is USD 56.26 Bn.

Regional analysis: Asia Pacific dominates the market and is expected to grow at the highest rate during the forecast period owing to rapid urbanization and rising building construction activities in China and India.

Key players: Key players operating in the concrete bonding agents market are BASF SE, Fosroc International Ltd., Saint-Gobain Weber S.A., Mapei S.p.A, Sika AG, DowDuPont Inc., etc.

Market Size: The global concrete bonding agents market size is expected to reach USD 74.12 Bn by 2030.

Key player’s analysis: Key players operating in the concrete bonding agents market are BASF SE, Fosroc International Ltd., Saint-Gobain Weber S.A., Mapei S.p.A, Sika AG, DowDuPont Inc. BASF SE is one of the leading players due to its strong brand presence and wide product portfolio.

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