concrete bonding agents was valued at USD 2.5 billion in 2020 and is predicted to reach USD 5.92 billion in 2025, with a CAGR of 8.8% from 2020 to 2025.
The market for concrete pouring agents has a diverse ecosystem established upstream. Stakeholders such as raw material suppliers and downstream stakeholders such as manufacturers, suppliers, end-users and government organizations. The rising income of the middle-class population in emerging countries such as India, Thailand, Indonesia and Vietnam and the preference for repairing existing infrastructure rather than building new are the factor keys to the worldwide concrete adhesive market. In the construction industry, damage to a concrete surface or floor leads to two options: demolition or resurfacing. Both options are expensive and time-consuming. If you pour fresh concrete over a damaged surface, the new concrete will settle on an old surface as a separate layer. First, spreading a bonding agent over the damaged area instead of pouring fresh concrete will ensure that the new concrete will bond successfully.
Cementitious latex concrete bonding agent was the largest bonding agent in 2020 due to the appreciable bond it gives to new concrete when bonded to existing concrete. Cementitious latex bonding agents are cost-effective and their availability in a variety of formulations drives the worldwide market call for concrete bonding agents. In addition, they are highly compatible with concrete admixtures.
Although concrete bonding agent has a variety of applications, an increase in decorative interior to give an aesthetic and pleasing finish to residential construction is the main driver of the worldwide concrete bonding agent market. The rising standard of living and income of the middle class population in emerging countries is escalating the call for decorative binders for concrete. Bonding agent for concrete has a variety of applications and, most importantly, the ease of use that always keeps the call for the product high. The other factors that are contributing to the expansion of the Concrete Bonding Agents market are a strong industrial base in the construction sector, increased investment by foreign companies in the construction sector and the repair of old buildings. Increased need to repair old buildings as it is widely employed for repair and restoration applications. Also, the governments of different countries are investing a lot to repair and restore an existing structure rather than demolish and build a new one. Apart from this, the increased compatibility of concrete bonding agents with Portland and other hydraulic cements is predicted to drive the expansion of the worldwide concrete bonding agent market during the foreseen period. The expansion of urbanization along with the increase in the population's disposable income has increased luxurious residential and commercial structures, which is driving the expansion of the concrete bonding agent market in Asia-Pacific.
While the worldwide market for concrete bonding agents is growing rapidly, there are some limiting factors. Poor and inadequate workmanship and a lack of awareness in the choice of repair materials employed are some of the factors restricting the expansion of the worldwide Concrete Bonding Agents market.
The future of the concrete bonding agent market looks promising with opportunities in repair, flooring, decorative and marine applications. The main drivers of expansion in this market are the increase in repair and maintenance of old buildings and the expansion of infrastructure in emerging economies. Escalating investments for infrastructure development, growing preferences for new and advanced designs, escalatingcall for products due to their high compatibility with Portland cement, rapid urbanization, and growing numbers of people in the world are likely to Accelerate the expansion of the Concrete Bonding Agents market in the foreseen period 2020-2025.
Although the general market for Concrete Bonding Agents is growing significantly, challenges such as poor and inappropriate manufacturing are hampering the expansion of the Concrete Bonding Agents market.
The cementitious latex based agent was the strongest in 2019 due to the measurable porosity it gives to fresh concrete when bonded to existing concrete.
The market is still predicted to experience significant possibilities in the decorative type today. This is mainly due to the escalating use of concrete binding agents in semi-condiments and interfaces to include the interiors of commercial and residential buildings with an aesthetic and attractive surface.
The Asia-Pacific region dominated the worldwide concrete bonding agent market, both in terms of value and volume, in 2019. China is the largest concrete bonding agent market in the Asia-Pacific region, and represented a significant market share in terms of value, in 2019. The expansion of the construction sector, the increase in R&D activities initiated by the main players, the ease of availability of raw materials and the increase in strategies Development efforts to meet the call for concrete binders in established and emerging applications are key drivers of the expansion of concrete binders in this region. Asia Pacific, with the exception of Japan, is the largest market for concrete binders in terms of value and volume, followed by the Middle East and Africa.
China and India alone accounted for a significant part of its total market. The repair of old buildings, high funding from public and private companies to promote construction and a strong industrial base in the construction sector are driving the call for concrete binders on a large scale. North America, despite Asia-Pacific, is the second largest region in the worldwide market for concrete bonding agents. The United States is the key market in this region due to the growing call for the product due to the decrease in construction operations in the country. Europe is also an important region in the world market for concrete bonding agents. The UK, Germany, France and Italy are contributing to the development of this regional industry.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Cementitious Latex Based
5.1.3 Epoxy Based
5.1.4 Y-o-Y Growth Analysis, By Agent
5.1.5 Market Attractiveness Analysis, By Agent
5.1.6 Market Share Analysis, By Agent
5.2.4 Decorative and Marine
5.2.5 Y-o-Y Growth Analysis, By Application
5.2.6 Market Attractiveness Analysis, By Application
5.2.7 Market Share Analysis, By Application
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Agent
126.96.36.199 By Application
6.1.4 Market Attractiveness Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Agent
220.127.116.11 By Application
6.1.5 Market Share Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Agent
126.96.36.199 By Application
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Sika AG
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 BASF SE
8.3 Fosroc Inc.
8.4 Mapsei S.P.A
8.5 Saint-Gobain Weber
8.6 now DuPont
8.7 Euclid Chemical Company
8.8 GCP Applied Technologies Inc.
8.9 Lafarge Holcim
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures
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