Global Concrete Bonding Agents Market 2017-2021
About Concrete Bonding Agents
Concrete is a composite material, which is a mixture of coarse aggregates bonded together with a fluid cement that hardens over time. Bonding agents are used to enhance the joining of individual components of a structure without using mechanical fasteners. These products are used in repair applications such as bonding of fresh concrete, sprayed concrete, cement repair mortar, and hardened concrete. The two critical factors affecting the bonding between new and old concrete are the strength and integrity of the old surface and its cleanliness.
Technavio’s analysts forecast the global concrete bonding agents market to grow at a CAGR of 7.43% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global concrete bonding agents market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Concrete Bonding Agents Market 2017-2021
Technavio recognizes the following companies as the key players in the global concrete bonding agents market: BASF, Dow Chemical, Mapei, Saint-Gobain, and Sika.
Other Prominent Vendors in the market are: The Euclid Chemical Company, Fosroc, GCP Applied Technologies, LafargeHolcim, and QUIKRETE Companies.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is increasing government investment in repair and maintenance. Several governments have started investing heavily in repair and maintenance of existing architecture. In recent years, the construction market is largely focusing on strengthening and refurbishing old structures, from road infrastructure and bridges to historical and industrial buildings. This has created opportunities for vendors in economies where governments have started spending massive amounts on repair and maintenance of old structures through public-private partnerships.”
According to the report, one driver in market is rising income of people leading to growth in infrastructural development in emerging economies. The increase in the number of residential and non-residential buildings in emerging economies is projected to boost the application of concrete bonding agents during the forecast period. The emerging countries such as India, China, Indonesia, Russia, and Brazil are expected to drive the demand for concrete bonding agent during the forecast period. In 2015, the GDP of India was 7.56%, and that of China was 6.9%. The rise in the GDP of these countries is expected to boost the manufacturing and building industries, which will lead to the growth of the concrete building agents market in these countries. The availability of land, cheap labor, and less stringent government regulations lured many vendors in the global concrete bonding agents market to shift their manufacturing centers to these countries. Further, high disposable incomes and changing lifestyles in these economies have led to the high growth in the construction market, and thus, consumers are remodeling their homes and buildings. Therefore, these factors will increase the demand for concrete bonding agents during the forecast period.
Further, the report states that one challenges in market is fluctuations in raw material prices. The manufacturing of concrete bonding agents requires raw materials, which are acquired from the oil and gas industry. It is one of the principal suppliers of raw materials for the global concrete bonding agents market. The fluctuations in the crude oil prices have a severe effect on the prices of the raw material, affecting the costs of several concrete bonding agents. In 2010, the crude oil price for Brent was around $77 per barrel, but there was an increase in the price during 2012 by nearly 41%. However, in subsequent years, the price of crude oil per barrel decreased at a rate of nearly 60% in 2016. So, these fluctuations of the price of crude oil per barrel made a negative impact on raw material prices for manufacturing of concrete bonding agents. There have been volatile demands owing to the uncertainty in the economic activities in the raw material market. The economic scenario plays a vital role in having a broader outlook on the performance of the market. If there has been a positive outlook for the market, the demand fluctuations observed are less, leading to many opportunities for the growth of petrochemical derivatives sales, and in turn, sales of the products offered to the building and construction industry.
BASF, Dow Chemical, Mapei, Saint-Gobain, Sika, The Euclid Chemical Company, Fosroc, GCP Applied Technologies, LafargeHolcim, and QUIKRETE Companies.
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