Concrete Bonding Agents Market Key Players 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

Repairing was the largest application segment in the global concrete bonding agents market in 2016 and is expected to retain its dominance throughout the forecast period. Currently, there is a significant need for repair and restoration activities for enhancing the quality of roads, bridges, parking areas, and old infrastructure to maintain the strength and integrity of the old constructed surface. This is a key and highly lucrative growth area for manufacturers of concrete bonding agents to capitalize upon and increase revenue gains. Thus, various players in the market are focusing on R&D activities to deploy various concrete bonding agents for repairing applications. Also, other emerging applications such as flooring and decorative are also gaining traction and spurring growth of the global concrete bonding agents market. Concrete bonding agents are highly preferred for flooring application due to their high bond strength and flexibility. They are also very helpful in increasing compressive, flexural and tensile strength of cementitious systems.

The global concrete bonding agents market was valued at US$ 2,773.5 million and 4,287.7 kilo tons in 2016 and is estimated to expand at a CAGR of 7.3% in terms of revenue and 5.6% in terms of volume during 2017 – 2025.

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Decorative segment is expected to be the fastest growing application area in the concrete bonding agents market

Among application, decorative segment is expected to witness fastest growth in the global concrete bonding agents market over the forecast period and is expected to witness fastest growth over the following decade. Growing urbanization and rising disposable income of people in Asia Pacific and Latin America regions leading to growing need for well-furnished homes and luxurious residential apartments is one of the major factors driving growth of the segment in the global concrete bonding agents market.

Regional Insights

Asia Pacific, followed by North America and Europe, respectively accounted for major share in the global concrete bonding agents market both in terms of revenue and volume in 2016 and the trend is estimated to remain the same over the forecast period. In 2016, Asia Pacific held a market share of 50.3% in terms of value in the global concrete bonding agents market. Demand for repairing, flooring, and decorative activities in Asia Pacific is gaining unparalleled traction due to the flourishing building & construction sector and the region emerging as a major economic hub has led to increasing development of commercial and industrial buildings. This in turn has positioned Asia Pacific as the growth engine for the global concrete bonding agents market over the forecast period. According to a study conducted by Coherent Market Insights, the Asia Pacific region is expanding at a CAGR of 8.1% in the global concrete bonding agents market during the forecast period. Growing urbanization and increasing construction activities especially in emerging economies of India and China is a major factor fueling demand for effective repairing works, flooring and decorative activities, subsequently fueling growth of the concrete bonding agents market in the region. For instance, as per statistics released by India Brand Equity Foundation (IBEF)—a Trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India—the Indian government plans to invest US$ 376.53 billion in infrastructure development over the following three years.

Multinational players

Major players in the global concrete bonding agents market include 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.

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This release was published on openPR.