LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global concrete bonding agents market is projected to grow to USD 3,777.9 million by 2021, at a CAGR of more than 7% over the forecast period.
This research report titled ‘Global Concrete Bonding Agents Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Concrete bonding agents are products used to enhance the joining of individual components of a concrete structure without using mechanical fasteners. They are mainly used in repair applications such as bonding of fresh concrete, sprayed concrete, cement repair mortar, and hardened concrete.
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Based on the end-users, the report categorizes the global concrete bonding agents market into the following segments:
- Building and construction
- Road and infrastructure
- Utility industries
The top three revenue-generating end-user segments in the global concrete bonding agents market are discussed below:
Building and construction
“The building and construction sector constitutes the largest and fastest growing segment of the concrete bonding agent market, driven by the high level of repair and maintenance activities of existing infrastructure,” says Mahitha Mallishetty, a lead analyst at Technavio for glass and ceramics research.
Users prefer to repair or restore old architecture using concrete adhesives as it is more cost-effective than constructing new structures. Further, rapid urbanization and growing population have created an increase in the construction of residential buildings, which also has a significant impact on the growth of the market.
Road and infrastructure
The concrete bonding agent market by the road and infrastructure segment is projected to be worth USD 968.6 million by 2021. Developed countries are the key end-users from the road and infrastructure segment since concrete is the preferred material for the construction of roads in these countries.
The need to maintain the quality of concrete-paved roads creates a high demand for concrete adhesives and concrete sealers. To cater to this demand, many cement and concrete vendors also have introduced effective products for the rapid maintenance and restoration of highways.
“The utility industries end-user segment includes public utility, industrial pavements, and water distribution industry. Concrete bonding agents are mainly utilized for the construction and maintenance of industrial pavements and dams,” says Mahitha.
Also, concrete is best suited for drainage and pollution control applications where it is mainly used in the construction of sewers and curvelets due to its performance, durability, and service life. This has led to the rise in the demand for concrete bonding agents such as concrete sealers for repair and maintenance purposes, especially in industrialized countries.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Dow Chemical
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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