Concrete Bonding Agents Market Trends

Growth Drivers

• Growth in the Number of Old Construction Structure: Old construction structure needs timely re-development in order to maintain its longevity. Also, the prevalence of building collapsing has grown in recent years. It is estimated that, about 8 buildings collapse every year in the world causing more than 300 deaths each year.  Therefore, in order to strengthen and rehabilitate the surface of concrete which already exist the use of concrete bonding agents is growing.
• Surge in Demand for Decorative Interior: People have become greatly fascinated in decorating their residential interior. This is since, the purchasing power of consumer has grown which is why their tendency to invest on luxury is surging. As a result, with the growth in demand for interior decoration the market is also estimated to rise.
• Digital Advancement in Concrete Bonding: With the advancement in technology tracking the bond of concrete has become easy with the guidance of sensors and embedded microchips. These gadgets could provide real time information on the strength of concrete hence further keeping a close look on the overall health of the structure. Additionally, with the growing use of autonomous robots the need for labors is eliminated since robots could carry out the task of applying bonding more efficiently than humans. 

Challenges

• High Price of Concrete Bonding Agents - Epoxy resins are substantially more expensive to purchase. This is due to the amount of money it cost to produce. Although the cost of the production gear and equipment is higher, these items often need more upkeep. The product based on epoxy is more expensive than alternatives owing to this. This component frequently limits market expansion. Furthermore, notwithstanding the fact that epoxy-based products deliver superior outcomes, customers frequently pick the less expensive option. For concrete bonding agents, these factors have emerged as their biggest consumption obstacle, which is limiting the market's expansion.
• Lack of Skilled Labors
• Lack of Awareness Regarding the Choice of Material