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The primary driving factor for the Concrete Bonding Agents Market is an investment in the improvement of existing infrastructure, concrete bonding gents are broadly used in repair and restoration application and other factors.
JERSEY CITY, N.J. , March 24, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Concrete Bonding Agents Market" By Agent (Cementitious latex-Based, Epoxy-Based), By Application (Repairing, Flooring, Decorative, Marine), and By Geography. According to Verified Market Research, the Global Concrete Bonding Agents Market size was valued at USD 3.67 Billion in 2020 and is projected to reach USD 6.25 Billion by 2028, growing at a CAGR of 6.70% from 2021 to 2028.
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Global Concrete Bonding Agents Market Overview
Rapid urbanization and population growth will likely accelerate the growth of the Concrete Bonding Agents Market. Surging levels of investment for infrastructure development, increasing preferences for new and advanced designs, rising demand for products due to their high compatibility with Portland cement, and rapid urbanization will likely accelerate the growth of the Concrete Bonding Agents Market. The use of concrete bonding agents in micro tops and overlays to provide the interiors of commercial and residential structures a more pleasing appearance. As a result of the growing usage of concrete bonding agents in ornamental applications, the market will gain significant growth.
Insufficient execution and a lack of knowledge about the raw materials to use for repairs will be a big stumbling block for the market. These bonding agents are utilized in building and construction for repairing, flooring, decorating, and a few other applications, which help to redecorate buildings. Cohesion is improved by these bonding agents. Its positive adhesion is greater than the host concrete's tensile strength. Concrete bonding chemicals are most commonly used in the building and construction industry. Concrete bonding solutions are in more demand as residential construction and restoration activities increase in emerging countries. As per the World Bank, global construction spending in 2019 was USD 12 trillion , and it is expected to reach USD 15.3 trillion in 2026, resulting in a demand for concrete bonding agents.
Because of the present trend of multi-family structures and an increase in migration to cities, the US Census Bureau has been issuing more permits for the construction of new residential buildings. According to the US Census Bureau, building investment in the United States in 2020 will be over USD 1,400 billion for both private and public construction. Furthermore, according to StatCan, the construction industry's gross domestic product at basic prices in Canada was anticipated to be around 141.22 billion Canadian dollars in 2019, and it is expected to rise during the forecast year.
The major players in the market are Sika AG, Fosroc International Ltd., BASF SE, Saint-Gobain Weber S.A., Mapei S.p.A., Dow Construction Chemicals, LafargeHolcim, The Euclid Chemical Company, GCP Applied Technologies Inc, and Dow Corning Corporation.
Verified Market Research has segmented the Global Concrete Bonding Agents Market On the basis of Agent, Application, and Geography.
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Top 7 Construction Equipment Manufacturers acting as pillars for construction industry
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