New York, United States , Aug. 07, 2024 (GLOBE NEWSWIRE) -- The Global Grouting Material Market Size is Expected to Grow from USD 7565.7 Million in 2023 to USD 10565.7 Million by 2033, at a CAGR of 3.40% during the forecast period 2023-2033.
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Grouting material is used to fill gaps, voids, or spaces in construction to provide structural support and stability. It is essential for sealing joints, stiffening structures, and filling gaps. Common varieties include cementitious grouts, which are strong and durable, epoxy grouts, which are chemically resistant and strong, and polyurethane grouts, which are flexible and waterproof. The application, desired qualities, and climatic circumstances all influence the type of grouting material chosen. Several key drivers are driving the grouting material market, including an increase in global infrastructure construction, which necessitates strong materials for structural stability and lifespan. Urbanization and rising building activity, particularly in emerging economies, increase the demand for grouting materials in a variety of applications, including foundation stabilization and waterproofing. Technological developments improve product compositions and promote eco-friendly and high-performance solutions. However, the grouting material market has numerous key restricting constraints, including high raw material costs, variations in pricing, and the specialist nature of the application, which contributes to increasing expenses and limits affordability and accessibility in competitive marketplaces.
Browse key industry insights spread across 230 pages with 90 Market data tables and figures & charts from the report on the "Global Grouting Material Market Size, Share, and COVID-19 Impact Analysis, By Type (Urethane-Based Grout, Epoxy-Based Grout, Others), By Application (Mining Industry, Traffic Industry, Water Conservancy Industry, Construction Industry, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The epoxy-based grout segment is predicted to hold the largest market share through the forecast period.
Based on the type, the grouting material market is classified into urethane-based grout, epoxy-based grout, and others. Among these, the epoxy-based grout segment is predicted to hold the largest market share through the forecast period. Epoxy-based grouts are highly valued for their superior durability, chemical resistance, and strength, making them excellent for demanding commercial and industrial applications. Their capacity to survive tough weather conditions and high-stress scenarios, such as in high-traffic areas or chemical processing industries, drives their large market share.
The mining industry segment is anticipated to hold the highest market share during the projected timeframe.
Based on the application, the grouting material market is divided into the mining industry, traffic industry, water conservancy industry, construction industry, and others. Among these, the mining industry segment is anticipated to hold the highest market share during the projected timeframe. Grouting materials are necessary in mining operations because they help to stabilize the ground, manage water inflows, and improve the safety and efficiency of mining processes. In mining, grouting is used to strengthen rock formations, fill voids, and prevent subsidence, which is crucial for preserving the stability of mine shafts and tunnels.
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Asia Pacific is estimated to hold the largest share of the grouting material market over the forecast period.
Asia Pacific is estimated to hold the largest share of the grouting material market over the forecast period. The region's fast urbanization and major infrastructure development projects create a significant need for building materials, particularly grouting solutions. Countries such as China and India are experiencing a strong economic expansion, which has resulted in large-scale construction activities such as highways, bridges, and high-rise structures, all of which require effective grouting materials for structural integrity and stability.
North America is predicted to have the highest CAGR growth in the grouting material market over the forecast period. The region's thriving construction industry, fueled by continuing infrastructure renovations, residential and commercial building projects, and major roadwork, has significantly increased demand for sophisticated grouting materials. Technological advancements and the growing use of high-performance grouts like epoxy and polyurethane help to drive this rapid rise.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the grouting material market include Sika, LATICRETE, Custom Building Products, A.W. Cook Cement Products, GCP Applied Technologies, Five Star Products, Sobute New Materials, Mapei, Ambex Concrete Technologies, Jinqi Chemical Group, Nanjiang, TCC Materials, Fischer Spezialbaustoffe, CETCO, and Others.
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Recent Developments
- In February 2021, Pipeshield International Limited, a Tekmar Group firm, launched a new Grouting Division to supplement the company's already extensive range of subsea protection, support, and stability products.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the grouting material market based on the below-mentioned segments:
Global Grouting Material Market, By Type
- Urethane-Based Grout
- Epoxy-Based Grout
- Others
Global Grouting Material Market, By Application
- Mining Industry
- Traffic Industry
- Water Conservancy Industry
- Construction Industry
- Others
Global Grouting Material Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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