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Anchors and Grouts Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Anchors and Grouts Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

  • May 2022
  • 194 pages
  • ID: 6249251
  • Format: PDF
  • Mordor Intelligence LLP

Summary

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The global anchors and grouts market is estimated to be valued at USD 1,713.71 million in 2022. The market is further expected to register a CAGR of over 6% during the forecast period (2022-2027).

Anchors and grouts are widely used in the construction industry, from houses to car parks, schools, and skyscrapers. In addition, it is used on roofs and as cladding for exterior walls. These are used for applications in industrial, civil, commercial, or residential buildings, providing the fast setting, high strength, underwater, ready-mix, and even vibration resistance to buildings and infrastructures. With the increase in demand for construction and infrastructure projects across the globe, there has been a surge in demand for the anchors and grouts market in 2021.

Key Highlights
Growth in the petrochemical plant expansions, and robust growth of the construction sector are likely to drive the demand for anchors and grouts.
On the flipside, regulations for VOC emissions and the inadequacy of skilled labor are expected to hinder the growth of the market.

Key Market Trends

Growing Demand in the Construction sector

Anchors and grouts have a wide range of applications in the construction industry all over the world. They are commonly used to secure goods to materials that are resistant to screws and nails, such as concrete.
Globally, anchors and grouts usage is expected to be driven by the need for buildings and infrastructure, owing to the rapidly growing population worldwide.
As per the statistics provided by the US Census Bureau and the US Department of Housing and Urban Development, the privately-owned residential units authorized by building permits were at a seasonally adjusted annual rate of 1,873,000 in December 2021.
Additionally, as a part of the ‘Investing in Canada Plan", the Canadian government plans to make an investment of nearly USD 140 billion for major infrastructure developments by 2028.
In Middle East, several booming commercial construction activities by various government initiatives, such as Saudi Arabia vision 2030, Abu Dhabi Economic Vision 2030, etc., drive the market studied.
Such factors are likely to impact the market for anchors and grouts. However, the construction industry is recovering, and hence, it is expected to drive the market for anchors and grouts during the forecast period.

Asia-Pacific to Dominate the Market

The Asia-Pacific construction sector is the largest in the world, and it is increasing at a healthy rate, owing to the rising population, increase in middle-class income, and urbanization.
The emerging economies in the Asia-Pacific region, such as China, India, Indonesia, Vietnam, and the Philippines, have been witnessing robust growth in the construction activities. The robust economic performance is expected to further accelerate the expansion of housing construction activities in the region.
China is amid a construction mega-boom. The Chinese government has rolled out massive construction plans, including making provisions for the movement of 250 million people to its new megacities over the next 10 years. Thus, this may create a demand for anchors and grouts used in the future in various applications during building construction, which enhances the building properties.
The Government of India is strongly focused on infrastructure development to boost economic growth and has plans to spend USD 1.4 trillion on infrastructure by 2025. The Real Estate Industry in India is expected to reach USD 1 trillion by 2030, and it is likely to contribute approximately 13% of GDP.
Japan hosts various high-rise buildings (nearly 290), with Tokyo being a major hub for such buildings. The planning and construction of such buildings are witnessing growth in Japan in the short-term.
All the above mentioned factors are expected to drive the demand for the market studied in the forecast period.

Competitive Landscape

The anchors and grouts market is fragmented in nature. Some of the major players ( not in any particuler order) of the market studied include Saint-Gobain Weber, Fosroc Inc., Sika AG, MAPEI SpA, MBCC Group.

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