Market Overview:
Concrete bonding agents are used to adhere concrete to concrete substrates, masonry surfaces, wood, steel, and various other materials. They are versatile adhesives that provide strong binding properties between old and new concrete surfaces. Concrete bonding agents come in liquid, powder or paste form and work by penetrating deep into pores of the substrate and bonding strongly after curing. They enhance the durability and strength of joints between various construction materials. The key advantages of concrete bonding agents include fast setting and strength gain, moisture tolerance, chemical resistance, and compatibility with various substrates.
Market key trends:
One of the key trends in the Concrete Bonding Agents Market Demand is the growing demand for green, eco-friendly products. Organizations are focusing on developing sustainable concrete bonding products formulated with low/no volatile organic compounds (VOCs). For instance, Sika Corporation offers Sikadur 31 Hi-Mod Gel, a 100% solids, zero VOC, high-modulus, high-strength epoxy adhesive for concrete bonding applications. Another major trend is the rising popularity of one-component mixes that are easy to use and have longer workable times. These fast-setting, user-friendly concrete bonding agents suit today’s fast-paced construction schedules. Innovation in formulation to achieve properties like hydration control, extended pot life, porosity filling, and adhesion to damp surfaces is also driving the market growth.
Porter’s Analysis
Threat of new entrants: The Concrete Bonding Agents Market Share requires high R&D investments and capital investments to establish manufacturing facilities. This poses high entry barriers for new players.
Bargaining power of buyers: The bargaining power of buyers in the concrete bonding agents market is moderate. Buyers can negotiate prices based on bulk purchasing volume and long term contracts.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the presence of a large number of raw material suppliers. However, suppliers possess low threat as there are less switching costs.
Threat of new substitutes: There is low threat from substitutes as concrete bonding agents have few close substitutes that offer similar bonding and moisture sealing properties.
Competitive rivalry: The concrete bonding agents market is a highly competitive market owing to the presence of numerous international and domestic players.
Key Takeaways
The global concrete bonding agents market is expected to witness high growth, exhibiting CAGR of 8.2% over the forecast period, due to increasing construction activities and infrastructure development projects across the globe.
The Asia Pacific region is projected to dominate the global concrete bonding agents market during the forecast period. This is attributed to rapid urbanization and growth of the construction industry in China, India and other South East Asian countries.
Key players operating in the concrete bonding agents market are Sika AG, Fosroc International Ltd., BASF SE, Saint-Gobain Weber S.A., Mapei S.p.A., Dow Construction Chemicals, Lafarge Holcim, The Euclid Chemical Company, GCP Applied Technologies Inc, Dow Corning Corporation, and The Quikrete Companies, Inc.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it