Global Anchors and Grouts Market by Type (Cementitious Fixing Anchors and Grouts, Resin Fixing Anchors, and Others), By Application (Residential Use, Industrial Use, and Others), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032
- Published date: May 2023
- Report ID: 69830
- Number of Pages: 398
The Global Anchors and Grouts Market size is expected to be worth around USD 3.03 Billion by 2032 from USD 1.71 Billion in 2022, growing at a CAGR of 5.9% during the forecast period from 2022 to 2032.
Anchors and grouts are used in the construction industry dynamics such as schools, houses, car parks, skyscrapers, etc., Also, they are used as cladding for exterior walls, which are used for civil, industrial, commercial, and residential buildings.
Its high strength provides fast setting, ready-mix, underwater, and even vibration resistance to infrastructures and buildings. With the increasing demand for construction across the world infrastructure projects, there was a robust growth in demand for the anchors and grouts market in 2022. Epoxy grouts are recognized for their high strength, requiring insignificant surface groundwork for anchoring and introducing modern hardware.
Global Anchors and Grouts Market Scope:
Based on type, the anchors and grouts market is divided into Cementitious fixing anchors and grouts, resin fixing anchors and grouts, and others. Cementitious grout can be used to improve many civil projects, such as water and waste retention systems, concrete and earthen dams, mine shafts, sanitary sewer systems, parking garages, tunnels, subways, etc. In 2022, cementitious fixing anchors and grouts dominated the market, accounting for over 50.0% of the global revenue share.
The market for anchors and grouts is segmented based on application into residential, commercial, industrial use, and others. The industrial and commercial use segments are anticipated to have the most elevated CAGR in the forecast period. These factors can be attributed to the fast development and construction projects in developing countries.
Key Market Segments:
- Cementitious Fixing Anchors and Grouts
- Resin Fixing Anchors and Grouts
- Other Types
- Residential Use
- Commercial Use
- Industrial Use
- Other Applications
Grout is a mixed material consisting of cement, water, and sand. Grout is used to filling voids under machines, surface openings, and other structural elements to seal joints and reinforce existing structures. Anchors and grouts are utilized in commercial construction like public buildings, institutes, office buildings, city halls, and so on. The most common type of anchors and grouts is cementitious fixing which uses Portland cement as its leading cementing agent.
Epoxy grouts are known for their high strength, requiring minimal surface preparation for installing heavy industrial machinery and anchoring. Industries that use grouts include pharmaceutical plants, food plants, institutional facilities, battery plants, chemical plants, and paper mills. Anchor and grout usage is expected to be driven by the need for infrastructure and buildings, owing to the growing worldwide population.
Customizing products to cater to a specific range of applications rather than improvising the product characteristics has been the emerging trend in the anchors and grouts market. During the forecast period, enterprises should focus on diversifying supply sources, operational efficiency, and cost management to develop opportunities in the anchors and grouts.
Uneven recovery in different end markets and geographies is a key challenge in understanding and analyzing the anchors and grouts market landscape. The deterioration in the construction sectors of Argentina and Brazil is acting as the market growth as a restraint. Furthermore, shifting focus toward manufacturing units in China and India is anticipated to serve as an opportunity for the anchors and grouts market.
Asia Pacific region has the dominant market, accounting for over 47.0% of global revenue in 2022. The Asia-Pacific construction sector is the largest construction sector in the world. It is increasing at a higher rate, owing to the increasing population as well as increasing urbanization and disposable income. Various governments are focused on infrastructure development to improve economic robust growth.
Emerging economies in the Asia-Pacific major regions, including China, India, Vietnam, Indonesia, and the Philippines, have seen healthy construction activity growth. China’s construction industry landscape developed in the previous years due to the central government’s push for infrastructure investment.
The Chinese government has introduced huge housing construction activities plans, including making supplies for the 350 million people moving to its new megacities over the next ten years. So, this may generate an increase in demand for anchors and grouts use in the future in different application development, which enhances the building properties.
Key Regions and Countries covered in the report:
- North America
- The US
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- South Africa
- Rest of MEA
The anchors and grouts market has several Industry Experts and Key Market Players. The high level of competition has initiated the key players to increase their market share with collaborations, acquisitions, new product launches, and mergers. The companies are working on branding strategies to target the largest audience for specific applications. Major Players are also investing in advanced and automated production to increase efficiency.
GCP Applied Technologies Inc. declared that the company had entered a final agreement under which Saint-Gobain Weber MBCC Group would obtain all shares at USD 31.00 per share of GCP Applied Technologies in a transaction that was valued at USD 2.4 billion in December 2021.
Also, Sika signed an agreement to gain the former BASF Construction Chemicals, from a world private equity firm, an affiliate of Lone Star Funds, for consideration of CHF 5.6 billion.
Market Key Players:
- BASF SE
- GCP Applied Technologies
- Other Key Players
Frequently Asked Questions (FAQ)What is the projected CAGR at which the anchors and grouts market is expected to grow at?
The anchors and grouts market is expected to grow at a CAGR of 5.9% (2023-2032).What is the size of the anchors and grouts market in 2022?
The anchors and grouts market size is US$ 1.71 billion in 2022.List the segments encompassed in this report on the anchors and grouts market?
Market.US has segmented the anchors and grouts market by geography (North America, Europe, APAC, South America, And Middle East and South Africa). The market has been segmented by type into cementitious fixing anchors and grouts, resin fixing anchors, and others. By application, the market has been segmented into residential, commercial, industrial, and others.List the key industry players of the anchors and grouts market?
BASF SE, Arkema, CHRYSO, Fosroc, Gantrex, GCP Applied Technologies, Sika, Saint-Gobain, Selena FM., and Other Key Players are the key vendors in the anchors and grouts market.Which region is more appealing for vendors employed in the anchors and grouts market?
Asia Pacific accounted for the highest revenue share of 47%. So, the Anchors and Grouts industry in the Asia Pacific region is expected to garner significant business opportunities over the forecast period.Name the key business areas for the anchors and grouts market.
Indonesia, China, India, Malaysia, Singapore, South Korea, etc., are leading key areas of operation for the anchors and grouts market.Which segment accounts for the greatest market Sizing share in the anchors and grouts industry?
About the anchors and grouts industry, vendors can expect to leverage greater prospective business opportunities through the cementitious fixing anchors and grouts segment, as this area of interest accounts for the largest market sizing share.
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