Concrete Bonding Agents Market By Type (Cementitious Latex Based [Acrylic Latex, Styrene Butadiene (SBR) Latex & Polyvinyl Acetate (PVA) Latex] & Epoxy Based), By Application (Repairing, Flooring, Decoration & Others), By End-use Industry (Residential Building (Independent Home, Large Appartements & Row Houses), Commercial Building (Hospital & Healthcare, Educational Institutes, Hotels & Restaurants, Banks & Financial Institutions, Airports, Shopping Malls, Hyper & Super Market & Others), Industrial Building & Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2022-2027

Report Code: CMR 16215 Report Format: PDF + Excel

Concrete Bonding Agents Market Overview

The Concrete Bonding Agents Market size is forecasted to reach US$5.6 billion by 2027, after growing at a CAGR of 6.5% during 2022-2027. Concrete bonding agents are natural or synthetic materials used to join the old and new concrete surfaces using polyvinyl acetate, styrene-butadiene latex, acrylic latex and epoxy resin-based concrete bonding agents. This agent can also be used to join the successive concrete layers as it helps to improve adhesion between the layer of concrete and the tensile, as well as, the flexural and bond strength of the concrete or mortar. The increase in the construction and building maintenance activity would drive the concrete bonding agent industry. According to the U.S. Department of Commerce, the U.S construction spending was estimated at a seasonally adjusted annual rate of US$1,779.8 billion during May 2022 and is 9.7% above the May 2021 estimate of US$1,621.9 billion. Therefore, the rise in construction spending would increase construction activity and, in turn, would drive the demand for concrete bonding agents during the forecast period. However, the global economic downturn caused by the COVID-19 pandemic resulted in a huge drop in demand for concrete bonding agents in building construction and maintenance activity all across the world, which had a significant impact on the growth of the Concrete Bonding Agents industry.

Concrete Bonding Agents Market Report Coverage

The “Concrete Bonding Agents Market Report – Forecast (2022 - 2027)” by Industry ARC, covers an in-depth analysis of the following segments in the Concrete Bonding Agents industry.

By Type: Cementitious Latex Based [Acrylic Latex, Styrene Butadiene (SBR) Latex and Polyvinyl Acetate (PVA) Latex] and Epoxy Based.
By Application: Repairing, Flooring, Decoration and Others.
By End-use Industry: Residential Building (Independent Home, Large Appartements and Row Houses), Commercial Building (Hospital & Healthcare, Educational Institutes, Hotels & Restaurants, Banks & Financial Institutions, Airports, Shopping Malls, Hyper & Super Market and Others), Industrial Building and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World: the Middle East (Saudi Arabia, the UAE, Israel and the Rest of the Middle East) and Africa (South Africa, Nigeria and the Rest of Africa).

Key Takeaways

  • The Asia-Pacific region dominates the Concrete Bonding Agents Market share with an estimated CAGR of 7.2% during the forecast period 2022-2027. This is due to the rising growth in the development of high-rise towers and commercial buildings in various countries such as China, India, Japan and South Korea.
  • Increasing ownership for constructed residential houses involves repairing and remodeling works on a large scale, consequently driving the epoxy resin and polyvinyl acetate latex-based Concrete Bonding Agents market growth and boosting the revenue output.
  • Rising environmental concerns drive park and community garden construction in urban areas which would facilitate the rise in Concrete Bonding Agents, thereby elevating the public demand for the niche market.


Figure: Concrete Bonding Agents Market Revenue Share, by Geography, 2021 (%)
Concrete Bonding Agents Market
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Concrete Bonding Agents Market Segment Analysis – by Type

The cementitious latex-based Concrete Bonding Agents segment held the largest Concrete Bonding Agents Market share in 2021 and is expected to grow at a CAGR of 6.7% during 2022-2027. The cementitious latex-based concrete bonding agents such as polyvinyl acetate latex, styrene-butadiene latex and acrylic latex have high adhesion and bonding strength. This is widely used globally due to its lower cost as compared to epoxy resin-based concrete bonding agents. The concrete bonding agent is applied over walls, ceilings, columns and other surfaces of buildings using a brush, broom, roller, or spray. The growing building construction and repair & maintenance activity would drive the concrete bonding agents industry. According to the Associated General Contractors of America (AGC), the construction sector is one of the largest consumers for manufacturing, mining and a variety of services and is a major contributor to the U.S., economy with US$1.4 trillion worth of structures each year. Thus, with the rise in construction activity globally, the demand for cementitious latex-based concrete bonding agents would increase. This, in turn, would boost the demand for Concrete Bonding Agents market size during the forecast period.

Concrete Bonding Agents Market Segment Analysis – by End-use Industry

The residential sector held a significant Concrete Bonding Agents Market share in 2021 and is estimated to grow at a CAGR of 7.5% during the forecast period 2022-2027. Concrete Bonding Agents based on epoxy resin, styrene butadiene latex and acrylic latex are widely used for various applications such as repairing, flooring, decoration and others owing to their ease of application and help in reducing cracks formed by shrinkage. The demand for concrete bonding agents is rising due to the increase in residential construction activity globally. For instance, Residential construction spending is valued at US$938.2 billion in May 2022, a 0.2% has been increased as compared to the April 2022 estimate of US$935.9 billion. Such growth in the investment for residential projects globally is expected to bolster the requirement for concrete bonding agents which in turn would propel the growth of the concrete bonding agents market size during the forecast period.

Concrete Bonding Agents Market Segment Analysis – by Geography

The Asia-Pacific region dominated 48% of the Concrete Bonding Agents Market share in 2021, owing to the rising investment towards construction, bolstering construction activity and repair & maintenance of building in the region. China is estimated to witness growth in the demand for epoxy resins- and acrylic latex-based concrete bonding agents due to the rise in construction activity. In January 2022, China unveiled a development plan for its construction industry to push the pillar sector of the country's economy onto a greener, smarter and safer path with the plan to modernize its industrial chain. The construction industry of China is expected to contribute a 6% share of the country's GDP by 2025, according to the Ministry of Housing and Urban-Rural Development. Such initiatives and investments from the government for construction and development projects in the APAC countries are anticipated to increase the demand for concrete bonding agents in the forecasted period. These factors are proving to be a market booster for the Concrete Bonding Agents market size in this region.

Concrete Bonding Agents Market drivers

Increasing demand for Concrete Bonding Agents with the growing Housing projects

The government initiatives in the development of affordable housing worldwide are expected to support the growth of the Concrete Bonding Agent market size over the forecast period. Governments around the world launched various social housing programs such as the Housing for Poor Rural Families Program, low-rent housing for industrial zone employees and low-income urban social housing-local government. According to the Ministry of Construction Vietnam, there are more than 260 ongoing projects providing about 219,000 apartments. Also, the various commercial & industrial construction projects kicked off in the fourth quarter of 2021 in Indonesia such as the Tuban olefin complex development project, the Gresik copper smelting plant, the Plaju green diesel refinery and many more. Thus, significant market traction from the increasing usage of styrene butadiene latex- and acrylic latex-based Concrete Bonding Agents across residential and commercial construction is further projected to fuel the market growth during the forecast period.

The increase in commercial places with the rise in the demand for interior and exterior decoration:

Polyvinyl acetate (PVA) bonding agents are widely used in decorative Concrete applications because of their compatibility with cement. This polyvinyl acetate latex can also be utilized as a binder for cementitious water-based paints & waterproofing coatings. After being applied, this bonding agent builds a thin layer that is highly resistant to water, aging and ultraviolet rays. Due to these factors, there is a huge demand for polyvinyl acetate for commercial decoration purposes. The rise in construction of commercial places like airports, hotels, malls, institutions and others would drive the concrete bonding agents market. For instance, China is the world’s largest construction market and is forecasted to grow at a CAGR of 8.6% between 2022 and 2030 according to a report by Fitch Solutions Infrastructure. Moreover, China’s 14th Five-year plan includes greenfield construction, relocation, renovation and expansion of 140 airport projects. Thus, the rise in commercial construction activities would drive the demand for the Concrete Bonding Agent market during the forecast period.

Concrete Bonding Agents Market Challenge

The higher price of epoxy resins-based concrete bonding agents

The cost of epoxy resins is much higher. The reason behind this is its production cost. While the machinery and the equipment used in production are tagged with a higher expense, this machinery also requires high maintenance. Due to this factor, the product based on epoxy comes with a higher price as compared to its alternatives. This factor tends to constrain the growth of the market. In addition, even if epoxy-based products provide better results, the customer usually prefers the inexpensive option. Such factors have become the major challenge for Concrete Bonding Agents in terms of consumption, which constrains the growth of the market.

Concrete Bonding Agents Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies players adopt in the Concrete Bonding Agents Markets. The top 10 companies in the Concrete Bonding Agents industry are:

  1. Fosroc Inc.
  2. SIKA AG
  3. MAPEI Corporation
  4. BASF SE
  5. MBCC Group
  6. The Euclid Chemical Company
  7. Dow Construction Chemicals
  8. Dow Corning Corporation
  9. Saint-Gobain Weber S.A.
  10. GCP Applied Technologies Inc

Recent Developments:

  • In May 2022, Euclid Chemical Company, a leading manufacturer of concrete and masonry construction products, acquired Chryso's North American cement grinding aids and additives business. The acquired technologies are sold to cement manufacturers to enhance the performance of cement and to reduce CO2 emissions during its production.
  • In August 2021, Sika AG, launched a new concrete repair solution that provided greater long-term protection for buildings and set a new standard for low environmental impact concrete by significantly reducing CO2 emissions.
  • In January 2020, Euclid Chemical Company, a manufacturer of products for the concrete and masonry construction industry, launched three new concrete bonding agent products, Eucoweld 2.0, Level Top PC-AGG and new and improved Kurez DR VOX.

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1. Concrete Bonding Agents Market - Market Overview
    1.1 Definitions and Scope 
2. Concrete Bonding Agents Market - Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Application
    2.3 Key Trends by End-use Industry
    2.4 Key Trends by Geography
3. Concrete Bonding Agents Market – Comparative analysis 
    3.1 Market Share Analysis - Major Companies
    3.2 Product Benchmarking - Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis - Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Concrete Bonding Agents Market - Startup Companies Scenario Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Concrete Bonding Agents Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Concrete Bonding Agents Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porter's Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes 
7. Concrete Bonding Agents Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Concrete Bonding Agents Market – by Type (Market Size - US$ Million/Billion)
    8.1 Cementitious Latex Based
        8.1.1 Acrylic Latex
        8.1.2 Styrene Butadiene (SBR) Latex
        8.1.3 Polyvinyl Acetate (PVA) Latex
    8.2 Epoxy Based 
9. Concrete Bonding Agents Market – by Application (Market Size - US$ Million/Billion)
    9.1 Repairing
    9.2 Flooring
    9.3 Decoration
    9.4 Others 
10. Concrete Bonding Agents Market – by End-use Industry (Market Size - US$ Million/Billion)
    10.1 Residential Building
        10.1.1 Independent Home
        10.1.2 Large Appartements
        10.1.3 Row Houses
    10.2 Commercial Building
        10.2.1 Hospital & Healthcare
        10.2.2 Educational Institutes
        10.2.3 Hotels & Restaurants
        10.2.4 Banks & Financial Institutions
        10.2.5 Airports
        10.2.6 Shopping Malls
        10.2.7 Hyper & Super Market
        10.2.8 Others
    10.3 Industrial Building
    10.4 Others 
11. Concrete Bonding Agents Market - by Geography (Market Size - US$ Million/Billion)
    11.1 North America
        11.1.1 The USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 The UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 The Netherlands
        11.2.6 Spain
        11.2.7 Belgium
        11.2.8 The Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zealand
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 The Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 The Rest of South America
    11.5 The Rest of the World
        11.5.1 The Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 The UAE
            11.5.1.3 Israel
            11.5.1.4 The Rest of the Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 The Rest of Africa
12. Concrete Bonding Agents Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Concrete Bonding Agents Market – Industry/Segment Competition Landscape Premium
    13.1 Company Benchmarking – Major Companies
    13.2 Market Share at Global Level - Major companies
    13.3 Market Share by Key Region - Major companies
    13.4 Market Share by Key Country - Major companies
    13.5 Market Share by Key Application - Major companies
    13.6 Market Share by Key Product Type/Product category - Major companies
14. Concrete Bonding Agents Market – Key Company List by Country Premium Premium
15. Concrete Bonding Agents Market Company Analysis - Business Overview, Product Portfolio, Financials and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and more
* "Financials would be provided to private companies on best-efforts basis."
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LIST OF TABLES

1.Global Concrete Bonding Agents Market By Agent Market 2019-2024 ($M)
1.1 Cementitious Latex Based Agents Market 2019-2024 ($M) - Global Industry Research
1.2 Epoxy Based Agents Market 2019-2024 ($M) - Global Industry Research
2.Global Concrete Bonding Agents Market By Agent Market 2019-2024 (Volume/Units)
2.1 Cementitious Latex Based Agents Market 2019-2024 (Volume/Units) - Global Industry Research
2.2 Epoxy Based Agents Market 2019-2024 (Volume/Units) - Global Industry Research
3.North America Concrete Bonding Agents Market By Agent Market 2019-2024 ($M)
3.1 Cementitious Latex Based Agents Market 2019-2024 ($M) - Regional Industry Research
3.2 Epoxy Based Agents Market 2019-2024 ($M) - Regional Industry Research
4.South America Concrete Bonding Agents Market By Agent Market 2019-2024 ($M)
4.1 Cementitious Latex Based Agents Market 2019-2024 ($M) - Regional Industry Research
4.2 Epoxy Based Agents Market 2019-2024 ($M) - Regional Industry Research
5.Europe Concrete Bonding Agents Market By Agent Market 2019-2024 ($M)
5.1 Cementitious Latex Based Agents Market 2019-2024 ($M) - Regional Industry Research
5.2 Epoxy Based Agents Market 2019-2024 ($M) - Regional Industry Research
6.APAC Concrete Bonding Agents Market By Agent Market 2019-2024 ($M)
6.1 Cementitious Latex Based Agents Market 2019-2024 ($M) - Regional Industry Research
6.2 Epoxy Based Agents Market 2019-2024 ($M) - Regional Industry Research
7.MENA Concrete Bonding Agents Market By Agent Market 2019-2024 ($M)
7.1 Cementitious Latex Based Agents Market 2019-2024 ($M) - Regional Industry Research
7.2 Epoxy Based Agents Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Concrete Bonding Agents Market Revenue, 2019-2024 ($M)
2.Canada Concrete Bonding Agents Market Revenue, 2019-2024 ($M)
3.Mexico Concrete Bonding Agents Market Revenue, 2019-2024 ($M)
4.Brazil Concrete Bonding Agents Market Revenue, 2019-2024 ($M)
5.Argentina Concrete Bonding Agents Market Revenue, 2019-2024 ($M)
6.Peru Concrete Bonding Agents Market Revenue, 2019-2024 ($M)
7.Colombia Concrete Bonding Agents Market Revenue, 2019-2024 ($M)
8.Chile Concrete Bonding Agents Market Revenue, 2019-2024 ($M)
9.Rest of South America Concrete Bonding Agents Market Revenue, 2019-2024 ($M)
10.UK Concrete Bonding Agents Market Revenue, 2019-2024 ($M)
11.Germany Concrete Bonding Agents Market Revenue, 2019-2024 ($M)
12.France Concrete Bonding Agents Market Revenue, 2019-2024 ($M)
13.Italy Concrete Bonding Agents Market Revenue, 2019-2024 ($M)
14.Spain Concrete Bonding Agents Market Revenue, 2019-2024 ($M)
15.Rest of Europe Concrete Bonding Agents Market Revenue, 2019-2024 ($M)
16.China Concrete Bonding Agents Market Revenue, 2019-2024 ($M)
17.India Concrete Bonding Agents Market Revenue, 2019-2024 ($M)
18.Japan Concrete Bonding Agents Market Revenue, 2019-2024 ($M)
19.South Korea Concrete Bonding Agents Market Revenue, 2019-2024 ($M)
20.South Africa Concrete Bonding Agents Market Revenue, 2019-2024 ($M)
21.North America Concrete Bonding Agents By Application
22.South America Concrete Bonding Agents By Application
23.Europe Concrete Bonding Agents By Application
24.APAC Concrete Bonding Agents By Application
25.MENA Concrete Bonding Agents By Application
26.Sika AG, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Fosroc International Ltd., Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Saint-Gobain Weber S.A., Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Mapei S.P.A., Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.BASF SE, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Lafargeholcim, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.The DOW Chemical Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.DOW Corning Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.The Euclid Chemical Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Additional Company Profiles, Sales /Revenue, 2015-2018 ($Mn/$Bn)