 |
| Global Bond Breaker Market |
The
Bond Breaker Market is estimated to be valued at US$ 1.29 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market
Overview:
Bond
breaker chemicals are sealing and crack filling materials primarily used in
construction projects for separating and dividing different materials like
concrete, mortar, and sealants. They prevent bond formation between new and
existing concrete surfaces during construction activities. Some common product
types include oils, soaps, silicones, and waxes. They find wide applications
for restoring expansion joints in highways, bridges, dams and other
infrastructural facilities.
Market
Dynamics:
Rapid
growth of the construction industry across both developed and developing
economies is a key driver for the bond breaker market. As per estimates, the
global construction output is projected to increase by 85% to over $15.5
trillion by 2030. This rapid infrastructure development requires frequent
repair and renovation activities involving applications of bond breakers.
Moreover, increasing commercial and residential construction projects also
bolster the product demand. Stringent environmental regulations regarding use
of solvent-based bond breakers is prompting manufacturers to develop more
sustainable water-based and solvent-less alternatives. This is expected to open
new growth avenues over the forecast period.
Segment
Analysis
The
Global
Bond Breaker Market can be segmented based on type into asphalt bond
breakers, concrete bond breakers, and others. Among these, the concrete bond
breakers segment accounted for the highest market share in 2022 and is expected
to remain the most dominant segment over the forecast period. Concrete bond
breakers are widely used in construction projects involving concrete surfaces
to facilitate future repairs or removal of one layer of concrete from another.
Their easy applicability and ability to prevent bonding of concrete surfaces
makes them the preferred choice in the market.
PEST
Analysis
Political:
Stringent regulations regarding the use of VOC-emitting and hazardous chemicals
in construction projects are driving the demand for green and eco-friendly bond
breakers.
Economic:
Growth of the global construction industry driven by rising infrastructure
development and investment in commercial and residential projects is boosting
the bond breaker market.
Social:
Increasing awareness about the need for proper surface preparation and use of
specialized construction chemicals is positively impacting the market growth.
Technological:
Advancements in material science have led to development of bond breakers with
improved performance characteristics like fast drying, low odor, and longevity.
Key
Takeaways
The
global bond breaker market size was valued at US$ 1.29 Bn in 2023 and is expected to reach US$ 2.16 Bn by 2030,
expanding at a CAGR of 7.5% during
the forecast period. Growth of the construction industry accompanied by rising
construction of roads, buildings, and other infrastructure is a key factor
driving the demand.
Regional
analysis: North America dominated the global bond breaker market in 2023 and is
expected to continue its lead through 2030. The early adoption of advanced
construction techniques and materials in the region along with extensive
construction activities favors market growth. The Asia Pacific bond breaker
market is anticipated to witness fastest growth during the forecast period
creditable to rapid urbanization and infrastructure development in major
economies like China and India.
Key
players operating in the bond breaker market are Sika AG, BASF SE, Fosroc
International Limited, Saint-Gobain Weber, The Euclid Chemical Company, Dayton
Superior Corporation, WR Meadows, Specified Technologies Inc, TCC Materials and
EMSEAL Joint Systems Ltd. Focus on introducing sustainable and eco-friendly
product varieties with value-added features has been a key strategy among these
players to gain competitive advantage.
Read
More: https://www.rapidwebwire.com/bond-breaker-market-trends/