BOND BREAKER MARKET ANALYSIS

The bond breaker market size is expected to reach US$ 2,140 million by 2030, from US$ 1,290 million in 2023, exhibiting  a compound annual growth rate (CAGR) of 7.5% during the forecast period. Bond breakers are materials applied between concrete surfaces to prevent adhesion while allowing water drainage. They are majorly used in buildings and pavement construction. The growth is driven by increasing construction activities and infrastructure projects worldwide. By type, the cementitious bond breakers segment accounted for the largest market share of over 40% in 2022. Cementitious bond breakers are gaining traction due to their excellent bond breaking and waterproofing properties.

Bond Breaker Market Regional Insights

• North America is the leading market for bond breakers, accounting for the largest share of the global market. This is due to the high demand for bond breakers in the construction industry in the U.S. and Canada. The U.S. is the largest market for bond breakers in North America, followed by Canada. It holds 30% of the market share.
• Europe is the third largest market for bond breakers. The growth of the bond breaker market in Europe is driven by the increasing demand for bond breakers in the construction industry in countries such as Germany, France, and the U.K It holds 20% of market share.
• Asia Pacific is the second largest market for bond breakers. The growth of the bond breaker market in Asia Pacific is driven by the increasing demand for bond breakers in the construction industry in countries such as China, India, and Japan. It holds 25% of market share.

Figure 1. Bond Breaker Market Share (%), By Region, 2023

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Bond Breaker Market Drivers

• Increasing construction of roads and highways: Growing construction of highways, bridges, tunnels, and other transportation infrastructure is driving the demand for bond breakers. For instance , The U.S. plans to invest significantly in infrastructure, with President Biden signing the bipartisan $1.2 trillion Infrastructure Investment and Jobs Act into law on November 15, 2021. Additionally, the Biden administration estimates that three key pieces of legislation—the Inflation Reduction Act, CHIPS and Science Act, and Infrastructure Investment and Jobs Act—will eventually translate to roughly $3.5 trillion in funding over the next decade, including some $1 trillion from private businesses.
• Rapid urbanization in emerging economies: The rapid urbanization and population growth in emerging economies like India, China, and Brazil is leading to large-scale construction activities, thereby driving the bond breaker market. For instance, The Indian government plans to invest $1.5 trillion in the National Infrastructure Pipeline (NIP) scheme from the financial year 2020 to 2025.This investment is part of India's goal to achieve a $5 trillion economy by 2025.
• Growth of commercial real estate sector: The steady growth of the commercial real estate sector globally has resulted in increased construction of office spaces, hotels, hospitals, and others which is fueling the adoption of bond breakers.
• Rise in renovation activities: Growing renovation and restoration activities especially in developed regions like North America and Europe is augmenting the usage of bond breakers.

Bond Breaker Market Opportunities

• Usage in green buildings: Growing trend of green buildings can provide opportunities for eco-friendly bond breakers made from recycled materials and biodegradable additives. For instance, according to Goldman Sachs recent reports, the trend of green buildings is expected to continue growing in 2022, thus presenting significant opportunities for sustainable construction and development.
• Rising adoption in emerging markets: The developing markets in Asia Pacific, Latin America, and Middle East & Africa offer significant untapped opportunities due to rapid industrialization and urbanization. 
• Advancements in self-healing concrete: Innovation in self-healing concrete integrated with self-healing bond breakers can completely transform the market by improving efficiency and reducing maintenance costs.
• Growing investments in infrastructure: Increasing government and private investments in large-scale infrastructure projects globally create lucrative opportunities for bond breaker manufacturers. For instances, in November 2021, a groundbreaking investment in U.S. infrastructure was authorized by Congress, encompassing an extensive allocation of funds amounting to hundreds of billions of dollars for new expenditures.

Bond Breaker Market Trends

• Shift towards liquid membranes: Increasing shift from sheet membranes to advanced liquid applied membranes that are seamless and easy to apply is a major market trend.
• Increasing mergers and acquisitions: Leading companies are focused on mergers and acquisitions to expand their product portfolio, thereby enter new regions and increase the market share. For instance, Sika has agreed to acquire Kreps LLC, a leading mortar manufacturer in Russia. The company offers a wide range of mortar products for interior and exterior finishing, complementing the existing portfolio and geographical footprint. The acquired business generates annual sales of CHF 15 million. The transaction is subject to clearance by the local anti-trust authorities.
• Rising adoption of spray applied systems: Spray applied bond breaker systems are gaining wider adoption due to their uniform coating, rapid curing and suitability for complex shapes.
• Growing use of eco-friendly materials: Due to stringent regulations, manufacturers are developing bio-based and Volatile Organic Compounds-Free bond breakers made from recycled materials.

Bond Breaker Market Restrain

• Volatility in raw material prices: Price fluctuations of key raw materials like bitumen, solvents, resins, and others adversely affects the production cost of bond breakers.
• Presence of alternatives The market growth is somewhat hindered by the presence of alternative products such as joint fillers, joint sealants, and form release agents.

Counterbalance: The market players need to focus on inventing newer bond breaker to be in the competitive pace with other alternative products.

• Lack of standardization: The lack of universal standards for bond breaker testing and performance evaluation restricts the market growth.
• Limited awareness in emerging markets: Lower awareness regarding modern bond breaking solutions in developing regions hampers adoption.

ANALYST VIEW

The bond breaker market is expected to grow at a steady pace driven by increasing demand from construction industry for demolishing old structures. Asia Pacific region, especially China and India, dominates the bond breaker market currently due to large number of infrastructure projects. However, North America will see higher growth going forward backed by revamping of old buildings and bridges. One of the key restraint for this market is stringent noise and dust pollution norms across various nations slowing down operations. Bond breakers powered by electric motors can help address this concern and offer an opportunity for manufacturers. Rising level of urbanization creating need for new commercial and residential spaces will augment the market growth. However, land scarcity in urban areas imply many old structures need to be demolished to make way for new constructions. This widens opportunity for bond breakers. Stringent safety regulations pose a challenge for manufacturers but focus on product innovation minimize risks. Access to remote project sites remain a hindrance but design improvisation aid in transportation. Growth potential lies in rental and leasing business models given high initial equipment cost deters many end users. Adoption across quarrying and mining industries due to capability to break hard surfaces and walls also raise prospects. Cost pressure on contractors to finish projects quickly make demolition an integral part of construction lifecycle benefiting bond breakers.

Recent Developments

New product launches

• Sika launched Sikadur-300, a new high strength epoxy bonding agent, in 2021 to drive new construction projects. (Sika is committed to sustainable development and focuses on minimizing risks and resource consumption while generating value in solutions and contributions to stakeholders through its "More Value - Less Impact" strategy)
• BASF introduced MasterLife WP 808, a hydrophobic polycarboxylate waterproofing admixture, in 2020 to prevent water ingress.
• Fosroc International Limited  has introduced a new generation of bond breakers that provide enhanced waterproofing and durability in concrete structures

Acquisition and partnerships

• Sika acquired Kreps LLC, a leading manufacturer of concrete repair mortars in the U.S. in 2021, to augment its portfolio.
• BASF acquired 3M's flooring business in 2020 to expand its construction chemicals range.

Figure 2. Bond Breaker Market Share (%), By Application Method, 2023

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Top Companies in Bond Breaker Market

• Sika AG
• BASF SE
• Fosroc International Limited
• Saint-Gobain Weber
• The Euclid Chemical Company
• Dayton Superior Corporation
• WR Meadows
• Specified Technologies Inc
• TCC Materials
• EMSEAL Joint Systems Ltd

Definition: The bond breaker market refers to the global market for materials and solutions that is utilized to prevent adhesion between two adjacent concrete surfaces while allowing water drainage. It includes products such as cementitious, bituminous, and elastomeric bond breakers available in various forms including sheets, films, liquid coatings, spray solutions, and others. Bond breakers play a vital role in concrete construction by enabling movement control, crack prevention, and waterproofing. They find extensive application in buildings, roads, bridges, dams, parking structures, and other civil structures. With rising infrastructure expenditure and construction activities worldwide, the bond breaker market is experiencing steady growth. Leading manufacturers offer advanced bond breaking solutions to cater to the evolving needs across the building, transportation, industrial and utilities sectors.