The global 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:
The bond breaker market product breaks the bond between existing materials such as concrete and polymers. Bond breaker coatings are used to separate poured concrete from existing structures to allow for expansion and contraction without damage. They prevent cracking and delamination by acting as a physical barrier between concretes or asphalt layers. Bond breakers find wide application in highways, bridges, building construction and renovation activities. Rising infrastructure development projects across the globe is driving the need for bond breakers.
Market key trends:
One of the key trends in the bond breaker market is the rising demand for sustainable and eco-friendly products. Manufacturers are increasingly focusing on developing green bond breakers made from renewable raw materials to reduce environmental footprint. Another trend gaining popularity is the use of advanced polymeric formulations in bond breakers for superior flexibility and longevity. Construction of smart cities also provides opportunities for bond breaker producers to supply materials for intelligent infrastructure development.
Porter’s Analysis
Threat of new entrants: The Global Bond Breaker Market requires large capital investment for R&D and manufacturing facilities which limits the threat of new entrants.
Bargaining power of buyers: The presence of numerous product options gives buyers moderate bargaining power in this market.
Bargaining power of suppliers: The bond breaker market has few major manufacturers globally which gives them significant bargaining power over buyers.
Threat of new substitutes: Alternatives like deconstructing concrete structures physically pose minimal threat as bond breakers are more economical and efficient.
Competitive rivalry: The bond breaker market is highly competitive due to the presence of major global players continuously involved in product innovation and expansion.
Key Takeaways
The global bond breaker market is expected to witness high growth, exhibiting CAGR of 7.5% over the forecast period, due to increasing demand from the construction industry for infrastructure development and renovation activities. Regionally, North America dominates the global bond breaker market owing to the large construction sector and advanced infrastructure in the region. Europe is the second largest market driven by stringent environmental regulations regarding waste management.
The bond breaker market size for 2023 is US$ 1.29 Bn. The Asia Pacific region is expected to be the fastest growing market during the forecast period supported by rapid urbanization and growing construction industry in developing economies such as 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. Players are focused on developing efficient and eco-friendly bond breaker products to strengthen their market position.
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