콘크리트 접착제 시장 - 예측(2024-2029년)

The market for the concrete bonding agent is anticipated to grow at a compound annual growth rate (CAGR) of 7.23% during the forecast period (2024-2029).

Concrete bonding agents are used to join the old or new concrete surfaces. They can be natural or synthetic materials. When a layer of fresh concrete is added over an existing or old concrete layer, it exists as two separate layers without any bond, to connect the two separate layers bonding agent must be introduced between the layers. The basic functions of the concrete bonding agent are it reduces the cracks formed in shrinkage, the permeability of concrete is reduced, and it improves adhesion between the layers of concrete. Further, the tensile, flexural, and bond strength of the concrete or mortar are increased.

The primary reason driving the concrete bonding agent market is the expansion of the infrastructure, building, and construction industry. And the relative increase in the repairing flooring, and decorative application of the concrete bonding agent.

• According to Eurostat, annual average production in construction for the year 2023, compared with 2022, increased by 0.2% in the euro area and by 0.1% in the EU. Further, in the European Union, building construction increased by 1.1% compared from 2022 to 2023 and civil engineering increased by 4.1%. The highest increase has been seen in Romania with a +30.7% increase, Poland having a +18.9% increase, and Belgium with a +10.7% increase. This increase in the construction industry suggests an overall increase in the demand for inputs in the construction industry.

CONCRETE BONDING AGENT MARKET DRIVERS:

• Rising demand for the application in the building and construction sector

In the year 2022, the construction spending in the United States was US$22,808,140 million and become US$24,260,341 million in 2023. This growth explains the dynamics of the industry. This increase in the demand for construction would not only increase employability but also the overall demand for raw materials in the sector. The usage of the concrete bonding agent is rising for the use of a bonding agent helping the different concrete layers to behave like a single unit, thus increasing the strength and performance of the structure.

One of the structural challenges of the building and construction lies in developing a structure that can withstand natural calamities like earthquakes, floods, and hurricanes. These structures must not collapse under any circumstances. The use of proper concrete bonding agents is used not only for construction but also for repair and reinforcement after years of wear and damage. The use of a bonding agent helps the different concrete layers to behave like a single unit, thus increasing the strength and performance of the structure. With the upcoming innovative and solution-based application, the demand is very likely to increase.

• High compatibility of concrete bonding agent with Portland cement and other hydraulic cement

One of the products INTRALOK bonding agent showed high solids, water-based emulsion admixture suitable for modifying Portland cement compositions. It can be used as the bonding agent between new and hardened concrete. Cement mortars that are modified with INTRALOK are hard, tough, and durable offering tensile, flexural, and impact strengths. Acryl-Binder concrete bonding agent by Nox-Crete Products Group works for the physical strength and bonding properties of all Portland cement-based mortars and concrete. As a polymer modifying admixture, it provides a plasticizing effect which lowers the water/cement ratio, and cement hydration improves which results in improved flexural, compressive, and tensile strength.

There are a variety of bonding agents for applications. Some could have a greater degree of water resistance than others. The latex emulsions that are used in cementitious compositions are the oil-in-water type, and sometimes contain more than 50% water and are generally good in the cement/water system.

• Rising infrastructure growth in developing economies is an important economic multiplier

The growing development of infrastructure projects development is the major reason for the demand for raw materials inputs. According to the World Bank, transport infrastructure development is critical for the market growth of the region. Such as, rural roads in Sub-Saharan Africa, and Tanzania, road quality improvements decreased the probability of migrating away from a rural location by 7.2% in several communities. In Mexico, the improvements in roads facilitate the specialization of localities. In addition, improved transport infrastructure translates into an increase in firms' exports and employment within a country leading to a significant impact on per capita consumption.

Additionally, the development multipliers are likely to generate growth in the consumption of various raw materials, generation of employment, and improved supply-chain status in the overall economy. This development is only possible with the increased infrastructure spending and the proven track for continuous overall improvement in the economy. The development of infrastructure also supports the growth of the interior or rural economy as the transportation of goods becomes easier.

• Asia Pacific region to dominate the concrete bonding agent market during the forecast period.

The major economies like China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies are from this region such as ASEAN countries. India and China have having largest economies and populations for infrastructure development. According to the ibef (India Brand Equity Foundation), Indian interim budget 2024-25, allocated capital investment outlay for infrastructure has been increased by 11.1% US$ 133.86 billion. As per the Interim Budget 2023-24, a capital outlay of US$ 30.72 billion.

After the real estate turmoil of 2021, China remains the largest market for the growth and development of real estate. The new opportunity lies in policy decisions such as, new urban buildings being certified green buildings by 2022. This includes public facilities such as schools, hospitals, museums, stadiums, affordable housing, and any single building over 20,000 square meters area. The application of concrete bonding agents in the construction and building industry would increase in the region for robust growth.

Concrete bonding agent market challenges:

• The mixing and application of the concrete bonding agent in the process still needs certain expertise and a lack of awareness regarding the usage is creating a hindrance in market growth.

Concrete bonding agent market key developments:

• In June 2024, Saint-Gobain announced that has entered into a definitive agreement to acquire FOSROC. The price for the acquisition would be approximately 11.3x FOSROC's 2024E EBITDA of $91 million, and a multiple of approximately 7.1x when including run-rate synergies of approximately $54 million in year 3. The acquisition is in cash. The strategic importance of Saint-Gobain's acquisition is its increasing presence in construction chemicals, supported by solid macroeconomic factors including the transition towards low-carbon concrete. Further, the group is resolved to put its presence in high-growth emerging markets, notably India and the Middle East.
• In May 2023, Sika announced the acquisition of MBCC Group. MBCC Group, which is a leading global supplier of construction chemicals, has been at the forefront of driving positive change in the construction industry. With coming together, they have a workforce of 33,000 experts and achieved net sales of more than CHF 11,24 billion in 2023. The integration is on full track and will result in expected annual synergies of CHF 180-200 million by 2026. MBCC's strong such as Master Builders Solutions, PCI, Thermotek, Wolman, Fire Protectors, Colorbiotics, and Watson Bowman Acme, would have the added advantage with Sika's innovations to address sustainability challenges in the industry.
• In June 2022, Euclid Chemical announced the acquisition of Chryso's North American cement grinding aids and additives business. This acquisition would enhance the technological advancement of the cement manufacturers and decrease CO2 emissions during its production. This strategic acquisition closely aligns Euclid Chemical with the cement industry, while complementing our strong offering in the concrete industry.

The concrete bonding agent market is segmented and analyzed as follows:

By Bonding Agent Type

• Cementitious Latex-based
• Epoxy-based

By End-user Industry

• Residential
• Non-residential

By Application

• Repairing
• Flooring
• Decorative
• Other Applications

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Rest of South America
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Middle East and Africa
• Saudi Arabia
• UAE
• Rest of the Middle East and Africa
• Asia Pacific
• China
• India
• Japan
• South Korea
• Taiwan
• Thailand
• Indonesia
• Rest of Asia-Pacific

TABLE OF CONTENTS

1. INTRODUCTION

• 1.1. Market Overview
• 1.2. Market Definition
• 1.3. Scope of the Study
• 1.4. Market Segmentation
• 1.5. Currency
• 1.6. Assumptions
• 1.7. Base and Forecast Years Timeline
• 1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY

• 2.1. Research Design
• 2.2. Research Process

3. EXECUTIVE SUMMARY

• 3.1. Key Findings
• 3.2. Analyst View

4. MARKET DYNAMICS

• 4.1. Market Drivers
  • 4.1.1. Rising demand for the application in the building and construction sector
  • 4.1.2. High compatibility of concrete bonding agent with Portland cement and other hydraulic cement
  • 4.1.3. Rising infrastructure growth in developing economies is an important economic multiplier
• 4.2. Market Restraints
  • 4.2.1. Lack of awareness and inadequate workmanship
• 4.3. Porter's Five Forces Analysis
  • 4.3.1. Bargaining Power of Suppliers
  • 4.3.2. Bargaining Power of Buyers
  • 4.3.3. The Threat of New Entrants
  • 4.3.4. Threat of Substitutes
  • 4.3.5. Competitive Rivalry in the Industry
• 4.4. Industry Value Chain Analysis

5. CONCRETE BONDING AGENT MARKET BY BONDING AGENT TYPE

• 5.1. Introduction
• 5.2. Cementitious Latex-based
• 5.3. Epoxy-based

6. CONCRETE BONDING AGENT MARKET BY END-USER INDUSTRY

• 6.1. Introduction
• 6.2. Residential
• 6.3. Non-residential

7. CONCRETE BONDING AGENT MARKET BY APPLICATION

• 7.1. Introduction
• 7.2. Repairing
• 7.3. Flooring
• 7.4. Decorative
• 7.5. Other Applications

8. CONCRETE BONDING AGENT MARKET BY GEOGRAPHY

• 8.1. Global Overview
• 8.2. North America
  • 8.2.1. United States
  • 8.2.2. Canada
  • 8.2.3. Mexico
• 8.3. South America
  • 8.3.1. Brazil
  • 8.3.2. Argentina
  • 8.3.3. Rest of South America
• 8.4. Europe
  • 8.4.1. United Kingdom
  • 8.4.2. Germany
  • 8.4.3. France
  • 8.4.4. Italy
  • 8.4.5. Spain
  • 8.4.6. Rest of Europe
• 8.5. Middle East and Africa
  • 8.5.1. Saudi Arabia
  • 8.5.2. United Arab Emirates
  • 8.5.3. Rest of Middle East and Africa
• 8.6. Asia-Pacific
  • 8.6.1. China
  • 8.6.2. India
  • 8.6.3. Japan
  • 8.6.4. South Korea
  • 8.6.5. Taiwan
  • 8.6.6. Thailand
  • 8.6.7. Indonesia
  • 8.6.8. Rest of Asia-Pacific

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

• 9.1. Major Players and Strategy Analysis
• 9.2. Market Share Analysis
• 9.3. Mergers, Acquisitions, Agreements, and Collaborations
• 9.4. Competitive Dashboard

10. COMPANY PROFILES

• 10.1. Adhesives Technology Corporation (ATC)
• 10.2. ChemCo Systems Inc.
• 10.3. Flowcrete Group Ltd
• 10.4. Fosroc
• 10.5. GCP Applied Technologies Inc
• 10.6. LafargeHolcim
• 10.7. MAPEI Corporation
• 10.8. The Euclid Chemical Company
• 10.9. BASF SE
• 10.10. Saint-Gobain Weber S.A.
• 10.11. The Quikrete Companies, Inc.
• 10.12. DOW Corning Corporation