The Bond Breaker Market is estimated to be valued at US$ 1.29 billion in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
The Bond Breaker Market involves the use of Bond Breaker products in construction activities. Bond breakers are materials used to prevent the adhesion of freshly placed concrete to any existing surface. These materials are commonly used in tilt-up construction, precast construction, and the installation of concrete panels or slabs. They help in facilitating the detachment of the hardened concrete from the forms, making it easier and safer to handle the precast elements during installation. Bond breakers are available in various forms such as liquid, emulsion, wax, and tape. These products provide a clean and efficient way of separating precast elements, reducing the risk of damage during demolding.
Market Dynamics:
The growth of the Global Bond Breaker Market Size is primarily driven by the increasing construction activities across the globe. Rapid urbanization, industrialization, and infrastructure development projects are fueling the demand for bond breakers in various construction applications. Moreover, the growing adoption of precast construction methods and the need for efficient and cost-effective solutions in construction projects are further augmenting market growth. Additionally, the rising focus on sustainable construction practices and the demand for eco-friendly bond breakers are expected to create growth opportunities for market players. However, the availability of alternative methods and materials for achieving the desired results may hinder market growth to some extent.
Segment Analysis:
The bond breaker market can be segmented based on product type, end-use industry, and region.
In terms of product type, the dominating segment is the water-based bond breaker. This is due to its widespread use in various applications such as concrete construction, infrastructure development, and residential projects. Water-based bond breakers offer advantages such as easy application, cost-effectiveness, and environmental friendliness, making them the preferred choice among consumers.
PEST Analysis:
Political: The government regulations regarding construction and infrastructure development play a crucial role in the bond breaker market. Changes in policies and regulations can affect the demand and supply dynamics of bond breakers.
Economic: Economic factors such as GDP growth, urbanization, and industrialization contribute to the demand for bond breakers. The increasing construction activities in emerging economies drive market growth.
Social: The growing population, urbanization, and changing consumer preferences for sustainable and eco-friendly construction practices influence the demand for bond breakers. Consumers are increasingly aware of the environmental impact and benefits of using bond breakers in construction projects.
Technological: Technological advancements in the formulation of bond breakers, such as the development of water-based and solvent-based products, improve performance and application efficiency. Innovations in manufacturing processes and equipment also enhance the market growth.
Key Takeaways:
The Global Bond Breaker Market Size is expected to witness high growth, exhibiting a CAGR of 7.5% over the forecast period (2023-2030). This growth can be attributed to the increasing construction activities, infrastructure development, and urbanization trends globally. The market size is projected to reach US$ 1.29 billion by 2023.
In terms of regional analysis, the Asia-Pacific region is the fastest-growing and dominating region in the bond breaker market. This can be attributed to rapid urbanization, industrialization, and government initiatives for infrastructure development in countries like China, India, and Southeast Asian countries.
Key players operating in the bond breaker market include Sika AG, BASF SE, Fosroc International Limited, Saint-Gobain Weber, The Euclid Chemical Company, Dayton Superior Corporation, WR Meadows, Specified Technologies Inc, TCC Materials, and EMSEAL Joint Systems Ltd. These companies focus on product development, expansion, and mergers and acquisitions to strengthen their market position and cater to the increasing demand for bond breakers.