Wilmington, Delaware , March 12, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Chemical Anchor Market by Product Type (Injectable and Capsule), Resin Type (Epoxy, Vinyl Ester, Methyl Methacrylate, Polyester, Hybrid, and Others), and End-use Industry (Construction, Oil And Gas, Marine, Telecommunications, and Others): Global Opportunity Analysis And Industry Forecast, 2023-2032." According to the report, the chemical anchor market valued for $1.2 billion in 2022 and is estimated to reach $1.9 billion by 2032, exhibiting a CAGR of 5.3% from 2023 to 2032.
Prime determinants of growth
The global chemical anchor market is driven by rising sustainable construction practices. Moreover, increasing awareness and emphasis on sustainable construction practices have led to the adoption of eco-friendly building materials and construction methods. For instance, according to an article published by the U.S. Green Building Council in 2022, the U.S. green building industry is considered as a high revenue generating industry and has achieved a total revenue of $88 billion in 2022. Chemical anchors, with formulations that minimize environmental impact and contribute to the longevity of structures, align with the sustainability goals of the construction industry. This eco-friendly aspect acts as a positive driver of the market. However, chemical anchors offer numerous advantages in several end-use sectors. However, there are certain health hazards associated with the use of volatile organic compound (VOC)-containing chemical anchors. For instance, high levels of VOCs in chemical anchors could particularly affect asthma and sinusitis patients. Furthermore, VOCs can cause severe irritation to throat and eyes, and a burning sensation to the nasal membranes. Some VOCs can even cause cancer if exposed beyond maximum concentration limits. Moreover, several environmental agencies such as the United States Environmental Protection Agency (U.S. EPA) and European Union (EU) have laid down strict acts and regulations for the use of VOC-containing products. For instance, the United States Environmental Protection Agency (U.S. EPA) regulates VOCs at federal level in 40 CFR 59, which is the National Volatile Organic Compound Emission Standards for consumer and commercial products. These factors together retrain customers from purchasing VOC-containing chemical anchors, thus hampering the market growth.
Download Sample Pages of Research Overview: https://www.alliedmarketresearch.com/request-sample/A312392
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size In 2022 | $1.2 Billion |
| Market Size In 2032 | $1.9 Billion |
| CAGR | 5.3% |
| No. Of Pages In Report | 509 |
| Segments Covered | Product Type, Resin Type, End-Use Industry, And Region |
| Drivers | Growing Construction Industry Rising Investments In Infrastructure Focus On Safety And Structural Stability Advancements In Construction Technologies |
| Opportunities | Stringent Building Codes And Regulations Increase In Awareness For Sustainable Construction |
| Restraint | Health Hazards Associated With The Use Of Chemical Anchors |
Depending on product type, the injectable segment accounted for the largest share in 2022, contributing to three-fifths of the global chemical anchor market revenue. This is attributed to the fact that injectable chemical anchors are user-friendly and easy to apply. The injection system allows for precise placement of the anchor material, making it convenient for installers to apply the adhesive in various construction scenarios. Furthermore, these anchors are suitable for a variety of substrates, including concrete, masonry, stone, and certain types of rock. This versatility makes them applicable in a wide range of construction and anchoring projects.
The epoxy segment to maintain its lead position during the forecast period
By resin type, the epoxy segment was the major share contributor in 2022, garnering more than one-fourth of the global chemical anchor market revenue. This is attributed to the fact that epoxy chemical anchors offer exceptional bonding strength, creating a strong and durable connection between the anchor and the substrate. This high bonding strength is crucial in applications where the integrity of the anchor is essential for structural stability.
Procure Complete Report (509 Pages PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/43coqvg
The construction segment to maintain its lead position during the forecast period
On the basis of end-use industry, the construction segment acquired the largest market share in 2022, contributing more than one-third of the global chemical anchor market revenue. This is attributed to the fact that the demand for chemical anchors is growing in the construction sector. In addition, these anchors play a crucial role in securely fastening and anchoring objects to base materials such as concrete, masonry, and stone. They can further be used in a variety of substrates, including concrete, masonry, stone, and certain types of rock. This adaptability makes them suitable for different construction scenarios and materials.
North America to maintain its dominance by 2032
Region wise, North America was the major shareholder in terms of revenue in 2022, accounting for more than one-third of the global chemical anchor market. The demand for chemical anchors is closely tied to the construction and infrastructure sectors. As North America continues to invest in new buildings, bridges, highways, and other infrastructure projects, the need for reliable anchoring solutions grows. Chemical anchors play a crucial role in providing strong and durable connections in various construction applications.
Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/chemical-anchor-market/purchase-options
Leading Market Players: -
- Hilti
- Sika AG
- 3M
- ITW Red Head
- Fischer Group
- Stanley Black & Decker
- BASF SE
- Fosroc
- Henkel AG & Co. KGaA
- Anchoring Systems Inc
The report provides a detailed analysis of these key players in the global chemical anchor market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, and agreements to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Blog: https://www.newsguards.com/
Follow Us on | Facebook | LinkedIn | YouTube |
