Concrete Anchors/Fasteners Market Report Overview
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The global concrete anchors/ fasteners market size expanded rapidly in 2021. The global COVID-19 pandemic has been unprecedented and staggering, with the concrete anchors/ fasteners market experiencing higher-than-anticipated/lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to generate substantial revenue by 2028, exhibiting a CAGR of 3.5% during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Concrete Anchors/Fasteners connect non-structural and structural elements to the concrete. They are designed for safe, quick, secure fastening for various jobs in brick, concrete, and cinder block/masonry.
The market's growth is attributed to expanding due to increased demand for equipment in engineering and construction applications. Adoption of the machinery offers enhancement of aesthetic appeal in residential buildings. Further, growing construction activities and huge usage of the equipment in cabinets, mount shelves, and other fixtures on the wall. The product helps in saving space and also provides a stronghold to the object. The fasteners are used to provide a strong base and fix floor tiles, which is estimated to drive market progress. The anchors are available in both chemical and mechanical varieties. Increased industrialization and urbanization across the globe are predicted to fuel market growth in the upcoming years. On the contrary, high manufacturing cost and a lack of raw materials available in the market is expected to hinder market progress in the forthcoming years.
COVID-19 Impact: Lower Rate of Construction Activities to Hamper Market Growth
The global COVID-19 pandemic minimizes market progress due to lack of construction activities. Halt in building construction or the residential sector affected the market growth. The market witnessed fluctuation in raw materials due to lower production activities. These factors hamper market progress during the pandemic period.
LATEST TRENDS
"Increased Adoption of the Equipment in the Residential Sector to Drive Market Growth "
The adoption of the equipment is high in the construction of residential buildings. Adopting the equipment provides a stronghold to the concrete structure and prevents any damage. Adoption of the machinery offers enhancement of aesthetic appeal in residential buildings. Further, growing construction activities and huge usage of the equipment in cabinets, mount shelves, and other fixtures on the wall. The product helps in saving space and also provides a stronghold to the object, which is estimated to fuel concrete anchors/ fasteners market progress in the forthcoming years.
Concrete Anchors/Fasteners Market Segmentation
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- By Type
Based on type, the market is divided into mechanical anchors or fasteners and adhesive anchors or fasteners.
Mechanical anchors or fasteners are expected to be the top part of type segmentation
- By Application
Based on the application, the market is divided into residential, commercial, industrial, and infrastructure.
Residential is expected to be the top part of application segmentation.
DRIVING FACTORS
"Increased Adoption of Mechanical Anchors or Fasteners to Fuel Market Growth "
The installation of the anchors was used to provide a strong base and fix floor tiles, which is estimated to drive market progress. The anchors are available in both chemical and mechanical varieties. Increased industrialization and urbanization across the globe are predicted to fuel market growth in the upcoming years. The expansion of cone-shaped plugs is expected to fuel market growth. A rise in disposable income and increased spending capacity of a consumer is anticipated to drive market progress. Increased demand for equipment in engineering and construction applications. Adoption of the machinery offers enhancement of aesthetic appeal in residential buildings is anticipated to surge concrete anchors/ fasteners market progress.
"Growing Demand from Commercial Sector to Expand Market Progress"
Extensive use of the equipment in commercial buildings for several purposes. Some common applications are cladding, fixing panels, signage, and other decorative elements. The equipment is used to fasten structural members such as columns, beams, and trusses. They are used to connect non-structural and structural elements to the concrete. They are designed for safe, quick, secure fastening for a variety of jobs in brick, concrete, and cinder block/masonry, which is anticipated to accelerate market progress in the forthcoming years.
RESTRAINING FACTORS
"High Manufacturing Cost and Lack of Raw Materials to Hinder Market Growth"
High manufacturing cost and a lack of raw materials available in the market is expected to hinder market progress in the forthcoming years.
Concrete Anchors/Fasteners Market Regional Insights
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"Rise in Construction Activities in North America to Drive Market Share "
North America is anticipated to account for the largest concrete anchors/ fasteners market share owing to the rise in construction activities. Rapid industrialization and a rise in disposable income are predicted to flourish market growth. Adoption of the machinery offers enhancement of aesthetic appeal in residential buildings. Further, growing construction activities and huge usage of the equipment in cabinets, mount shelves, and other fixtures on the wall. The product helps in saving space and also provides a stronghold to the object. The fasteners are used to provide a strong base and fix floor tiles, which is estimated to drive market progress.
Asia Pacific is anticipated to account for the second-largest market share owing to the presence of low-cost labour. Rapid industrialization and urbanization are expected to fuel market growth.
KEY INDUSTRY PLAYERS
"Leading Players Adopt New Strategies to Stay Competitive"
The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- Stanley Black & Decker (U.S.)
- Hilti (Germany)
- ITW (U.S.)
- Wurth (Germany)
- Acument Global Technologies (U.S.)
- SANKO TECHNO (Japan)
- Gem-Year (China)
- Concrete Fastening Systems (U.S.)
- Ancon (U.K.)
- Fischer Fixings (U.K.)
- Marmon (U.S.)
- SFS (Switzerland)
- Anchor Group (India)
- Daring Architecture (China)
- Hua Wei (China)
- NJMKT (China)
- Shehkai Precision (China)
REPORT COVERAGE
This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
Frequently Asked Questions
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What is the leading region in the concrete anchors/ fasteners market?
The leading region in the concrete anchors/ fasteners market is North America.
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What are the driving factors help pushing the concrete anchors/ fasteners market?
The drivers of the increased adoption of mechanical anchors or fasteners and growing demand from commercial sector.
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Which are the key player or most dominating companies functioning in the concrete anchors/ fasteners market?
Stanley Black & Decker, Hilti, ITW, Wurth, Acument Global Technologies, SANKO TECHNO, Gem-Year, Concrete Fastening Systems, Ancon, Fischer Fixings, Marmon, SFS, Anchor Group, Daring Architecture, Hua Wei, NJMKT, and Shehkai Precision are the key player or most dominating companies functioning in the concrete anchors/ fasteners market.
