Global Concrete Bonding Adhesives Market is segmented By Type (Acrylic, Polyurethane, Polyvinyl Acetate, Epoxy, Others), By Application (Onsite Application, Offsite Application, Civil Engineering), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Market Overview
The global concrete bonding adhesives market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of 8.20% during the forecast period (2023-2030).
Concrete bonding adhesives are specially formulated adhesives to bond new concrete to old or other surfaces. It is designed to provide a strong, durable bond that can withstand the rigors of everyday use and extreme weather conditions. Concrete bonding adhesives can repair cracks, spalls and other damage to concrete surfaces, which can help extend the structure's life and reduce the need for more costly repairs.
Scope
|
Metrics |
Details |
|
CAGR |
8.20% |
|
Size Available for Years |
2021-2030 |
|
Forecast Period |
2023-2030 |
|
Data Availability |
Value (US$) and Volume (Tons) |
|
Segments Covered |
Type, Application and Region |
|
Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
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Fastest Growing Region |
Asia-Pacific |
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Largest Region |
Asia-Pacific |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
Dynamics
The growing use of epoxy in concrete bonding adhesives in the construction industry
A form of adhesive known as epoxy is created from epoxy resin and a hardener. It is a great option for bonding concrete surfaces because of its strength and longevity. Since of their ability to form a strong, long-lasting bond, epoxy-based concrete bonding adhesives are widely used in the construction industry. It's especially useful for bonding new concrete to old or other surfaces and patching and resurfacing concrete. It is also used in industrial, commercial and residential construction projects. Concrete bonding adhesives based on epoxy are also well-known for their resistance to extreme temperatures, chemicals and other environmental factors. Therefore, epoxy is the main product that drives the global market for concrete bonding adhesives.
The fluctuation in the price of raw materials
The high cost of raw materials is a major factor restraining the global concrete bonding adhesives market. Raw materials such as epoxy resin and hardeners, used in producing concrete bonding adhesives, can be quite expensive. It can make it difficult for manufacturers to produce these adhesives at a competitive price, making it difficult for them to compete in the market. The high cost of raw materials can also make it more difficult for customers to afford concrete bonding adhesives. As the cost of these adhesives increases, customers may be more likely to choose lower-cost alternatives, such as traditional concrete, which may not be as durable or long-lasting. It can decrease demand for concrete bonding adhesives, further affecting the market.
Segment Analysis
The global concrete bonding adhesives market is segmented based on type, application and region.
Due to its flexibility and convenience features, the onsite application has the largest market share in the application segment
The concrete bonding adhesives market by application is further segmented into onsite application, offsite application, civil engineering and others. Onsite application refers to using concrete bonding adhesives directly at the construction site rather than in a factory or laboratory setting. The application method allows for greater flexibility and convenience, as the adhesive can be applied directly to the surface that needs to be bonded. The respective fact eliminates additional transportation and handling and reduces the time needed to complete the bonding process. Onsite application of concrete bonding adhesives is particularly useful for repair and maintenance projects, as it allows quick and efficient repairs to be made to damaged concrete surfaces. It is particularly beneficial in situations where the concrete surface is in an inaccessible or hard-to-reach location. Thus, due to its flexibility and convenience features, the onsite application has the largest market share in the application segment.
Source: DataM Intelligence Analysis (2023)
Geographical Penetration
Due to population expansion, urbanization and economic development, the demand for constriction is rising in the Asia-Pacific
The Asia-Pacific region dominates the global concrete bonding adhesives market for several reasons. One of the major factors is the increasing construction activities in the region. The region is experiencing a construction boom driven by population growth, urbanization and economic development. It has led to an increase in the demand for concrete bonding adhesives, as these adhesives are primarily used in construction and repair projects. Therefore, due to population expansion, urbanization and economic development, the demand for constriction is rising in the Asia-Pacific.
Source: DataM Intelligence Analysis (2023)
Competitive Landscape
The major global players include H. B. Fuller Company, BASF, Franklin International, AVERY DENNISON CORPORATION, Ashland, Lord Corporation (Parker Hannifin Corp.), Arkema, Hubei Huitian Adhesive Enterprise Co., Ltd., 3M and Chembond Chemicals.
COVID-19 Impact Analysis
By Type
- Epoxy
- Polyurethane
- Polyvinyl Acetate
- Acrylic
- Others
By Application
- Onsite Application
- Offsite Application
- Civil Engineering
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Middle East and Africa
Key Developments
- On January 27, 2022, H.B. fuller company acquired Apollo, UK's largest independent manufacturer of liquid adhesives, coating and primers for the roofing, industrial and construction market.
- Everad introduced its solvent-free neoprene contact adhesive, Everad TAC 6005.0, in October 2019. The respective glue can replace solvent-based neoprene adhesives.
- Rezi-Weld Gel Paste State, a two-component, moisture-insensitive construction epoxy that may be troweled, brushed, injected or pumped into position for anchoring, doweling, making tiny patches, filling cracks or performing general repairs, was introduced by W. R. Meadows on July 25, 2019.
The global concrete bonding adhesives market report would provide approximately 53 tables, 48 figures and 182 Pages.
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Frequently Asked Questions
What is the Projected CAGR value of the Concrete Bonding Adhesives Market?
Fire Protection Sealants Market is expected to grow at a CAGR of 8.2% during the forecasting period 2022-2029.
Who are the key players in Concrete Bonding Adhesives Market?
Major players are Sika, Chembond Chemicals, RPM International, H.B. Fuller, Henkel, The Dow Chemical, Polyguard Products, Bostik, ENECON.