Market Analysis
The concrete bonding agent market is likely to grow at an admirable CAGR between 2016- 2023, according to the new report by Market Research Future (MRFR). A concrete bonding agent, simply put, is a special purpose synthetic admixture that is added to concrete to confer the same certain significant characteristics. It is mostly used for improving the bonding between the new and old concrete mix. Some of its key properties include excellent corrosion resistance, great temperature tolerance, extend the infrastructure durability, and also boost the concretes’ shelf life.
Various factors are adding to the global concrete bonding agent market growth. According to the new MRFR report, such factors include rapidly increasing urbanization and industrialization coupled with a growing population that has increased the growth of construction activities across the world, increasing investments in repairing of old buildings and in the construction sector by foreign companies, strong industrial base in the construction sector, wide applications in different end use industries, and ease of use. Additional factors adding market growth include an increase in income and living standard of the middle-class population, especially in emerging countries and an increase in decorative interior to provide pleasing finish and aesthetics for residential construction.
On the contrary, limited knowledge awareness coupled with inadequate and poor workmanship, are factors that may impede the global concrete bonding agent market growth over the forecast period.
Market Segmentation
The MRFR report gives an inclusive segmental analysis of the global concrete bonding agent market Growth report based on agent and application.
By agent, the global concrete bonding agent market is segmented into epoxy based agent, cementitious latex based agent, and others. Of these, the cementitious latex based agent segment will lead the market over the forecast period.
By application, the global concrete bonding agent market is segmented into flooring, marine, construction, decorative, repairing, and others. Of these, the repairing segment will dominate the market over the forecast period.
Key Players
Eminent players profiled in the global concrete bonding agent market report include Lafargeholcim (Switzerland), GCP Applied Technologies Inc (U.S.), The QUIKRETE Companies (U.S.), The Euclid Chemical Company (U.S.), DowDuPont (U.S.), Saint-Gobain Weber (France), Mapei S.P.A. (Italy), Fosroc, Inc. (U.K), BASF SE (Germany), and Sika AG (Switzerland), among others.
Regional Analysis
Based on the region, the global concrete bonding agent market report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Among these, the APAC region will have the lions share in the market over the forecast period. Improving lifestyle of people, constantly growing construction industry, dynamic economic development, and growing public investment in the infrastructure development project is adding to the global concrete bonding agent market growth in the region. China, South Korea, Japan, and India have the maximum share in the region.
The global concrete bonding agent market in North America is predicted to hold the second-largest share over the forecast period. The US has the maximum share in the market for the burgeoning demand for concrete bonding agents from the growing number of reconstruction activities in this country. It is the leading market with regards to the investment in the marine industry that is likely to favor the growth of the concrete bonding agent market growth in the region.
The global concrete bonding agent market in Europe is predicted to have admirable growth over the forecast period. Italy, France, Germany, and the UK have a maximum share in the region.
The global concrete bonding agent market in Latin America and the MEA is predicted to have significant growth over the forecast period. Recent economic and political turmoil is adding to the concrete bonding agent market growth in Latin America. On the other hand, the presence growth of the building construction industry is adding to the concrete bonding agent market growth in the MEA.
