Anchors and Grouts Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030

Anchors and Grouts Market Analysis

The Anchors and Grouts Market size is estimated at 1.97 billion USD in 2024, and is expected to reach 2.88 billion USD by 2030, growing at a CAGR of 6.51% during the forecast period (2024-2030).

The anchors and grouts market is experiencing substantial growth driven by increased infrastructure development worldwide. In 2022, private participation in infrastructure (PPI) reached a significant milestone of USD 91.7 billion across 263 projects globally, marking a 23% increase from the previous year. This surge in infrastructure spending has been particularly notable in emerging economies, where governments are prioritizing the development of transportation networks, utilities, and public facilities. The construction sector's expansion is further supported by rising public-private partnerships and cross-border investments, particularly in regions focusing on sustainable urban development and modernization of existing infrastructure.

The industry is witnessing a significant shift toward sustainable construction practices and energy efficiency requirements. In Italy, for instance, recent assessments indicate that over two-thirds of existing houses will require renovation to meet the 2050 carbon neutrality target, creating substantial opportunities for the grouting materials market. This trend is reflected across various regions, with governments implementing stricter building codes and environmental regulations. The construction sector is increasingly adopting eco-friendly materials and techniques, driving innovation in anchoring and grouting solutions that meet both structural requirements and sustainability standards.

Industrial expansion and manufacturing facility construction are emerging as key growth drivers for the anchors and grouts market. China's substantial investment in transport infrastructure, reaching USD 165.6 billion in 2022, exemplifies the scale of industrial development occurring globally. Companies are increasingly relocating or expanding their manufacturing facilities, particularly in Asia-Pacific, leading to increased demand for industrial construction. This trend is accompanied by the development of smart factories and automated production facilities, requiring specialized anchoring and grouting solutions for precision equipment installation.

The construction industry is facing significant workforce challenges while simultaneously experiencing increased demand. In Germany alone, projections indicate a need for 53,000 new workers annually until 2026 to meet construction demands. This labor shortage is prompting the adoption of innovative construction techniques and materials that can improve efficiency and reduce installation time. Additionally, the market is seeing substantial investment in commercial and residential projects, with Saudi Arabia recently signing agreements worth USD 2.66 billion for various development projects, including commercial, tourism, and residential initiatives. These developments are driving the need for advanced anchoring and grouting solutions that can accommodate both traditional and modern construction methods. The epoxy grout market is also gaining traction as it offers enhanced durability and resistance, aligning with the industry's evolving needs.

Global Anchors and Grouts Market Trends

Asia-Pacific's surge in large-scale office building projects is set to elevate the global floor area dedicated to commercial construction

• In 2022, the global new floor area for commercial construction witnessed a modest growth of 0.15% from the previous year. Europe stood out with a significant surge of 12.70%, driven by a push for high-energy-efficient office buildings to align with its 2030 carbon emission targets. As employees returned to offices, European companies, resuming lease decisions, spurred the construction of 4.5 million square feet of new office space in 2022. This momentum is poised to persist in 2023, with a projected global growth rate of 4.26%.
• The COVID-19 pandemic caused labor and material shortages, leading to cancellations and delays in commercial construction projects. However, as lockdowns eased and construction activities resumed, the global new floor area for commercial construction surged by 11.11% in 2021, with Asia-Pacific taking the lead with a growth rate of 20.98%.
• Looking ahead, the global new floor area for commercial construction is set to achieve a CAGR of 4.56%. Asia-Pacific is anticipated to outpace other regions, with a projected CAGR of 5.16%. This growth is fueled by a flurry of commercial construction projects in China, India, South Korea, and Japan. Notably, major Chinese cities like Beijing, Shanghai, Hong Kong, and Taipei are gearing up for an uptick in Grade A office space construction. Additionally, India is set to witness the opening of approximately 60 shopping malls, spanning 23.25 million square feet, in its top seven cities between 2023 and 2025. Collectively, these endeavors across Asia-Pacific are expected to add a staggering 1.56 billion square feet to the new floor area for commercial construction by 2030, compared to 2022.

South America's estimated fastest growth in residential constructions due to increasing government investments in schemes for affordable housing to boost the global residential sector

• In 2022, the global new floor area for residential construction declined by around 289 million square feet compared to 2021. This can be attributed to the housing crisis generated due to the shortage of land, labor, and unsustainably high construction materials prices. This crisis severely impacted Asia-Pacific, where the new floor area declined 5.39% in 2022 compared to 2021. However, a more positive outlook is expected in 2023 as the global new floor area is predicted to grow by 3.31% compared to 2022, owing to government investments that can finance the construction of new affordable homes capable of accommodating 3 billion people by 2030.
• The COVID-19 pandemic caused an economic slowdown, due to which many residential construction projects got canceled or delayed, and the global new floor area declined by 4.79% in 2020 compared to 2019. As the restrictions were lifted in 2021 and pent-up demand for housing projects was released, new floor area grew 11.22% compared to 2020, with Europe having the highest growth of 18.28%, followed by South America, which rose 17.36% in 2021 compared to 2020.
• The global new floor area for residential construction is expected to register a CAGR of 3.81% during the forecast period, with South America predicted to develop at the fastest CAGR of 4.05%. Schemes and initiatives like the Minha Casa Minha Vida in Brazil announced in 2023 with a few regulatory changes, for which the government plans an investment of USD 1.98 billion to provide affordable housing units for low-income families, and the FOGAES in Chile also publicized in 2023, with an initial investment of USD 50 million, are aimed at providing mortgage loans to families for affordable housing and will encourage the construction of new residential units.

OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT

Segment Analysis: End Use Sector

Residential Segment in Anchors and Grouts Market

The residential sector dominates the global anchors and grouts market, commanding approximately 32% of the total market share in 2024. This significant market position is primarily driven by the extensive use of anchors and grouts in various residential applications, including flooring, tiled walls, and tile joints, particularly in the construction of high-quality homes and apartments. The segment's dominance is further reinforced by the rising trend of using premium tiling materials in residential construction, especially in regions like Asia-Pacific and Europe, where tile, marble, or stone flooring is preferred over hardwood or laminate options. Additionally, government initiatives worldwide focusing on affordable housing development and residential infrastructure expansion continue to fuel the demand for anchors and grouts in this sector. The tile grout market is particularly influenced by these trends, as it encompasses the diverse applications of grouts in residential settings.

Industrial and Institutional Segment in Anchors and Grouts Market

The industrial and institutional segment is emerging as the fastest-growing sector in the anchors and grouts market, projected to expand at approximately 7% CAGR from 2024 to 2029. This remarkable growth is primarily attributed to increasing investments in manufacturing facilities, educational institutions, and healthcare infrastructure across developing nations. The segment's growth is further propelled by the rising emphasis on sustainable construction practices and the need for high-performance anchoring solutions in industrial applications. Government regulations mandating repairs and renovations of older industrial buildings, coupled with the growing focus on energy-efficient infrastructure, are creating substantial opportunities for anchors and grouts manufacturers in this segment. The demand for specific grout sizes and grout line sizes in these applications is also contributing to the market's expansion.

Remaining Segments in End Use Sector

The commercial and infrastructure segments also play crucial roles in shaping the anchors and grouts market landscape. The commercial sector is particularly significant in applications involving warehouses, data centers, and office spaces, driven by the growing e-commerce sector and the evolution of modern workspaces. The infrastructure segment, while more stable in growth, remains fundamental due to its extensive use in critical applications such as bridges, tunnels, and transportation infrastructure. Both segments benefit from increasing urbanization trends and the global push toward infrastructure modernization, though their growth patterns tend to be more closely tied to government spending and economic cycles.

Segment Analysis: Sub Product

Resin Fixing Segment in Anchors and Grouts Market

The resin fixing segment dominates the global anchors and grouts market, commanding approximately 62% of the total market share in 2024. This significant market position can be attributed to its widespread applications in residential and industrial constructions, owing to properties such as corrosion resistance and vibration resistance. The segment's popularity is further enhanced by its superior strength, load-bearing capacity, durability, water and chemical resistance, and concrete repair capabilities. Resin fixing anchors and grouts have emerged as the preferred choice among contractors and professionals, particularly in applications requiring high performance and durability. The segment's growth is being driven by increasing adoption in commercial spaces, with the new floor area of commercial construction expected to reach 9,341 million square feet by 2030. The epoxy grout market is a critical component of this segment, benefiting from these advanced properties.

Resin Fixing Segment in Anchors and Grouts Market

As both the largest and fastest-growing segment, resin fixing is projected to maintain its market leadership with an impressive growth trajectory of approximately 7% CAGR during 2024-2029. This robust growth is driven by its advanced properties, including a wide temperature range tolerance (5°C to 30°C) and superior stain resistance. The segment's expansion is further supported by increasing demand in commercial and industrial applications, particularly in regions focusing on infrastructure development and building renovation. The growth is also bolstered by rising awareness about the benefits of resin-based products over traditional alternatives, especially in high-stress applications and environments requiring chemical resistance. The epoxy grout market continues to expand as these applications demand high-performance solutions.

Remaining Segments in Sub Product

The cementitious fixing segment maintains its position as a crucial component of the anchors and grouts market, offering cost-effective solutions for various construction applications. This segment is particularly valued for its versatility and ability to enhance properties for different job types. Other types, including bituminous and chemical grouts, serve specific niche applications such as structural works in concrete and masonry, as well as non-structural tasks like tiling. These segments continue to play vital roles in specific applications where their unique properties make them the optimal choice, such as bituminous grouting for larger voids or high water flow situations, and bentonite grouting for mitigating hydraulic conductivity in underground water applications. The cementitious grout market is integral to these applications, providing essential solutions for diverse construction needs.

Anchors and Grouts Market Geography Segment Analysis

Anchors and Grouts Market in Asia-Pacific

The Asia-Pacific region stands as a dominant force in the global anchors and grout market, driven by robust construction activities across residential, commercial, and industrial sectors. The region's market dynamics are shaped by significant infrastructure developments in countries like China, India, and Japan, alongside emerging economies such as Thailand, Vietnam, and Indonesia. Rapid urbanization, increasing foreign direct investments, and government initiatives supporting construction activities have created a favorable environment for market growth across the region.

Anchors and Grouts Market in China

China maintains its position as the largest market for anchor grouts in the Asia-Pacific region, commanding approximately 65% of the regional market share. The country's dominance is underpinned by its massive construction industry, particularly in infrastructure and residential sectors. The Chinese market benefits from ongoing urbanization initiatives, the development of smart cities, and significant investments in transportation infrastructure. The government's focus on sustainable construction practices and energy-efficient buildings has also spurred the demand for high-quality anchors and grouts across various applications.

Anchors and Grouts Market in Japan

Japan emerges as the fastest-growing market in the Asia-Pacific region, with a projected growth rate of approximately 8% from 2024-2029. The country's market expansion is driven by increasing investments in urban infrastructure renewal, seismic retrofitting projects, and the construction of energy-efficient buildings. Japan's focus on technological innovation in construction materials, coupled with strict building safety regulations, has created a strong demand for high-performance anchor grouts. The trend of companies relocating their manufacturing facilities back to Japan has further accelerated market growth through increased industrial construction activities.

Anchors and Grouts Market in Europe

Europe represents a mature market for anchors and grout market, characterized by stringent building regulations and a strong focus on sustainable construction practices. The region's market is driven by renovation and retrofitting activities, particularly in countries like Germany, France, and the United Kingdom. The European Union's emphasis on energy-efficient buildings and infrastructure development has created sustained demand for advanced anchoring and grouting solutions.

Anchors and Grouts Market in Germany

Germany stands as the largest market for anchors and grouts in Europe, holding approximately 17% of the regional market share. The country's market leadership is supported by its robust industrial sector, extensive infrastructure development projects, and strong emphasis on building renovation and energy efficiency improvements. German construction companies' preference for high-quality, technologically advanced anchoring and grouting solutions has maintained steady market growth.

Anchors and Grouts Market in Italy

Italy has emerged as the fastest-growing market in Europe, with a projected growth rate of approximately 6% from 2024-2029. The country's market expansion is driven by increasing renovation activities, particularly in historical buildings and infrastructure. The implementation of EU energy efficiency directives and the growing focus on seismic retrofitting of existing structures has created significant opportunities for anchors and grouts manufacturers.

Anchors and Grouts Market in Middle East and Africa

The Middle East and Africa region demonstrates strong growth potential in the grout market, driven by extensive infrastructure development and construction activities. Saudi Arabia leads the regional market, benefiting from its stable political framework and numerous ongoing construction projects. The United Arab Emirates shows the fastest growth trajectory, supported by its ambitious infrastructure development plans and increasing foreign direct investments in the construction sector.

Anchors and Grouts Market in North America

The North American construction anchors market is characterized by technological advancement and innovation in construction practices. The United States dominates the regional market as the largest consumer, while Mexico exhibits the strongest growth potential. The region's market is driven by infrastructure rehabilitation projects, commercial construction activities, and the growing trend of sustainable building practices.

Anchors and Grouts Market in South America

The South American anchors and grouts market shows promising growth potential, with Brazil emerging as both the largest and fastest-growing market in the region. The market is driven by government initiatives in affordable housing, infrastructure development projects, and increasing industrial construction activities. Argentina also contributes significantly to regional market growth through its focus on residential and commercial construction projects.

Free With This Report

We provide a complimentary and exhaustive set of data points on global and regional metrics that present the fundamental structure of the industry. Presented in the form of 24+ free charts, the section covers rare data on newly built floor area, infrastructural spending, and existing construction floor area across residential, commercial, industrial and institutional sectors.