The concrete bonding agents market is estimated to be valued at US$ 2,773.5 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Concrete bonding agents are specialty chemicals applied on prepared surfaces to enhance adhesion between old and new concrete. They are available in liquid, powder, and spray form and work by penetrating deep into the pores of substrates and hardening to form durable bonds. Rapid urbanization and growth of the infrastructure sector globally is driving large construction of buildings, roads, bridges which in turn is boosting demand for concrete bonding agents.

Market Dynamics:
Rising infrastructural development activities is one of the key drivers propelling growth of the concrete bonding agents market. According to the Global Infrastructure Outlook, global infrastructure investment needs are estimated to be $94 trillion by 2040. The rapidly growing construction industry in Asia Pacific and Middle East is generating high demand for concrete as a primary building material. Furthermore, repair and maintenance of existing structures also requires application of concrete bonding agents to join new concretes with old ones. Stringent environmental regulations regarding usage of volatile organic compound (VOC) containing adhesives and sealants is prompting manufacturers to develop green concrete bonding solutions, which is another factor stimulating market expansion.

SWOT Analysis
Strength: Concrete bonding agents provide strong adhesion between old and new concrete surfaces. They offer high bond strength and durability to concrete structures. Concrete bonding agents fill minor gaps and cracks in concrete for optimum binding.
Weakness: Strict environmental regulations on the use of hazardous chemicals limit the growth of concrete bonding agents. Dependency on construction industry exposes concrete bonding agents market to macroeconomic risks.
Opportunity: Growing infrastructure development projects in emerging economies present an opportunity for market expansion of concrete bonding agents. Increasing repair and reconstruction activities of outdated concrete structures boost the demand for concrete bonding agents.
Threats: Volatility in raw material prices impacts the overall cost of production of concrete bonding agents. Easy availability of substitutes such as epoxy and acrylic adhesives poses a threat to concrete bonding agents market.

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 infrastructure development activities across both developed and emerging economies. Growth in construction sector has led to increased demand for concrete bonding agents for new construction as well as repair and renovation of old concrete structures.

Regional analysis: Asia Pacific dominates the global concrete bonding agents market and is expected to grow at the fastest rate during the forecast period. Expanding construction industry in China, India and other Southeast Asian countries drives the demand for concrete bonding agents in Asia Pacific. North America and Europe are also significant markets for concrete bonding agents owing to ongoing infrastructure projects and renovation activities in these regions.

Key players: 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. The concrete bonding agents market is fragmented with the presence of several global as well as regional players. Manufacturers are focusing on new product launches catering to specific end-use applications to gain a competitive edge in the market.