Concrete Bonding Agents Market Size & Share, by Bonding Agent Type (Cementitious Latex-Based, Epoxy-Based); Application (Repairing, Flooring, Decorative); End-user (Residential, Non-Residential) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 5147
  • Published Date: Aug 10, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Concrete Bonding Agents Market size is projected to reach USD 9 billion by the end of 2035, witnessing around 7% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of concrete bonding agents was USD 4 billion. The growth of the sector could be dominated by growth in construction activities. For instance, it is anticipated that 3,500 new structures are expected to be added each day by construction workers by the year 2050 around the world. Hence, with this the market demand for concrete bonding agents is also set to grow.  

Additionally, construction industries are aiming towards carrying out projects in the most sustainable manner. Hence, their demand for organic polymers is construction is growing in order to construct durable and resilient construction. Moreover, due to its higher interlayer bond strength than conventional, 3D printing construction, 3D printable polymer-modified concrete has recently gained a lot of research attention. Hence, all these factors is anticipated to influence the market expansion. 


Concrete Bonding Agents Market
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Concrete Bonding Agents Sector: Growth Drivers and Challenges

Growth Drivers

  • Growth in the Number of Old Construction Structure: Old construction structure needs timely re-development in order to maintain its longevity. Also, the prevalence of building collapsing has grown in recent years. It is estimated that, about 8 buildings collapse every year in the world causing more than 300 deaths each year.  Therefore, in order to strengthen and rehabilitate the surface of concrete which already exist the use of concrete bonding agents is growing.
  • Surge in Demand for Decorative Interior: People have become greatly fascinated in decorating their residential interior. This is since, the purchasing power of consumer has grown which is why their tendency to invest on luxury is surging. As a result, with the growth in demand for interior decoration the market is also estimated to rise.
  • Digital Advancement in Concrete Bonding: With the advancement in technology tracking the bond of concrete has become easy with the guidance of sensors and embedded microchips. These gadgets could provide real time information on the strength of concrete hence further keeping a close look on the overall health of the structure. Additionally, with the growing use of autonomous robots the need for labors is eliminated since robots could carry out the task of applying bonding more efficiently than humans. 

Challenges

  • High Price of Concrete Bonding Agents - Epoxy resins are substantially more expensive to purchase. This is due to the amount of money it cost to produce. Although the cost of the production gear and equipment is higher, these items often need more upkeep. The product based on epoxy is more expensive than alternatives owing to this. This component frequently limits market expansion. Furthermore, notwithstanding the fact that epoxy-based products deliver superior outcomes, customers frequently pick the less expensive option. For concrete bonding agents, these factors have emerged as their biggest consumption obstacle, which is limiting the market's expansion.
  • Lack of Skilled Labors
  • Lack of Awareness Regarding the Choice of Material

Concrete Bonding Agents Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~7%

Base Year Market Size (2022)

~ USD 4 Billion

Forecast Year Market Size (2035)

~ USD 9 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Concrete Bonding Agents Segmentation

Bonding Agent Type (Cementitious Latex-Based, Epoxy-Based)

The cementitious latex-based segment in the concrete bonding agents market is poised to garner a share of approximately 55% over the forecast period. Due to the significant adherence, it provides to fresh concrete when it attaches to old concrete, a cementitious latex-based concrete bonding agent is considered to be the greatest bonding agent. Epoxy-based concrete bonding agents deliver higher strength and long-lasting bonding to concrete as compared to latex-based ones, however, due to latex-based products' low cost, they currently hold the top two positions on the global market for concrete bonding agents.  Building surfaces such as columns, walls, and ceilings all employ the concrete bonding agent.

Application (Repairing, Flooring, Decorative)

Concrete bonding agents market from the repairing segment is set to gather a share of about 50% over the projected period. A primary driver is a significant increase in the need for fixing historic buildings since they are widely employed in repair and restoration applications. Additionally, instead of dismantling and erecting a new structure, various national governments are concentrating their funds on repairing and re-establishing a structure that already exists. To retain the strength of the old-created surface, there is substantial demand for maintenance and restoration efforts to improve the structural integrity of bridges, roads, parking lots, and old infrastructure.

Our in-depth analysis of the global market includes the following segments:

 

   Bonding Agent Type

  • Cementitious Latex-Based
  • Epoxy-Based

 

   Application

  • Repairing
  • Flooring
  • Decorative

   End-User Industry

  • Residential
  • Non-Residential

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Concrete Bonding Agents Industry- Regional Synopsis

APAC Market Forecast

The concrete bonding agents market in Asia Pacific is anticipated to capture the highest share of about 45% over the forecast period. Growing urbanization and rising construction activity, particularly in China and India's emerging economies, are the primary drivers of the demand for efficient flooring, decorative work, and repair work, which in turn is boosting the region's market for concrete bonding agents. India had an about 498,179,070 urban population in 2021, up approximately 3% from 2020.

North American Market Analysis

The North America concrete bonding agents market is also poised to have significant growth by the end of 2035. Expanding infrastructure expenditures, robust expansion in sectors such as transportation, education, and healthcare, rapid construction of data centers and manufacturing facilities, and increased spending on commercial development are all fueling market demand in this region.

Research Nester
Concrete Bonding Agents Market Size
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Companies Dominating the Concrete Bonding Agents Landscape

top-features-companies
    • Sika AG
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • BASF SE
    • Henkel AG & Co. KGaA
    • Ardex Group
    • MAPEI S.p.A.
    • Fosroc, Inc.
    • Laticrete International, Inc.
    • GCP Applied Technologies Inc.
    • W.R. Meadows, Inc.
    • Dayton Superior Corporation

In-the-news

In The News

  • Sika AG, the largest producer of adhesives and sealants for the building and automotive industries, has created a new polyurethane technology that it has introduced to the market under the Purform brand.
  • To broaden its diverse waterproofing range under its Master Builders Solutions brand, BASF SE launches MasterSeal 730 UVS, a revolutionary waterproofing membrane, in Asia. MasterSeal 730 UVS is a pre-applied waterproofing membrane made of high-density polyethylene (HDPE) sheets that have been given a special pressure-sensitive adhesive and coating to provide good adhesion to concrete surfaces without the need for additional protective screed.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5147
  • Published Date: Aug 10, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are growth in number of old construction structure, surge in demand for decorative interior, and digital advancement in concrete bonding.

The market size of concrete bonding agents is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Sika AG, BASF SE, Henkel AG & Co. KGaA, Ardex Group and others.

The repairing segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Concrete Bonding Agents Market Report Scope
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