Concrete Bonding Agents – Insights

Concrete bonding agents are bonding materials used to bond a new concrete structure with the existing or hardened concrete structure. Concrete bonding agents are used on existing concrete structures to maintain the strength and integrity of the old surface. The cementitious-based latex agents market segment dominated the market of concrete boding agents in 2016, according to the stats provided by Coherent Market Insights. Cementitious-based latex agents is gaining traction over epoxy-based agents due to relatively low cost.

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Decorative segment is expected to be the fastest growing application area in the concrete bonding agents market

Among application, decorative segment is expected to witness fastest growth in the global concrete bonding agents market over the forecast period and is expected to witness fastest growth over the following decade. Growing urbanization and rising disposable income of people in Asia Pacific and Latin America regions leading to growing need for well-furnished homes and luxurious residential apartments is one of the major factors driving growth of the segment in the global concrete bonding agents market.

Regional Insights

Asia Pacific, followed by North America and Europe, respectively accounted for major share in the global concrete bonding agents market both in terms of revenue and volume in 2016 and the trend is estimated to remain the same over the forecast period. In 2016, Asia Pacific held a market share of 50.3% in terms of value in the global concrete bonding agents market. Demand for repairing, flooring, and decorative activities in Asia Pacific is gaining unparalleled traction due to the flourishing building & construction sector and the region emerging as a major economic hub has led to increasing development of commercial and industrial buildings.

Market Taxonomy

This report segments the global concrete bonding agents market on the basis of agent and application. On the basis of agent, the market is segmented as cementitious latex based agents and epoxy based agents. On the basis of application, the global concrete bonding agents market is segmented as repairing, flooring, decorative and marine. However, repairing is the largest application segment, accounting for over 40% share of the global concrete bonding agents market in 2016, while, decorative is projected to be the fastest growing application segment and expected to grow at a CAGR of 8.2% in terms of revenue during the forecasted period.

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