Grouting Material Market Size, Share, Growth, and Industry Analysis by Type (Urethane Based Grout, Epoxy Based Grouts, Others) By Application (Mining Industry, Traffic Industry, Water Conservancy Industry, Construction Industry, Others) and Regional Forecast to 2028

Updated On: 22 April 2024

Report Overview

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The global grouting material market size was USD 7302.7 million in 2022. As per our research, the market is expected to reach USD 9029.1 million by 2028, exhibiting a CAGR of 3.6% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The grout is a flow able plastic material that must have minimal shrinkage to completely fill the void or openings and must remain stable without cracking, lamination or crumbling. Grouting is the filling of pressure cracks, voids or cells in concrete or masonry structures to repair cracks, strengthen damaged concrete or masonry structures.

The growing popularity of grouting in disaster prevention projects is likely to boost the growth of the market. An increase in reinforcement projects is also likely to boost the market. The development of grouting materials as chemical joint strengthening materials is estimated to offer profitable opportunities for companies operating in the market. The spread of grouting in steel and concrete reinforcement of bridges, dams, highways and buildings is expected to accelerate the development of the market.

COVID-19 Impact: Pandemic leads to Reduction in Manufacturing Leading to Market Growth Reduction

There were severe effects of the outbreak of COVID-19, several industries had either temporarily suspended operations or were operating with reduced staff due to shutdowns and restrictions imposed by various regulatory agencies. The global grouting market was no exception and had a significant negative impact on the revenue of the industry. Manufacturing and distribution of raw materials were at halt due to shortage of labors and limitations imposed on its working.

Latest Trends

"Growing Construction Industry to Drive the Market Growth"

Grouting board market CAGR is driven by increasing use in the construction industry. Along with laminates and wood, carpet, tiles have become a key element in the construction industry. The market is growing as residential and commercial construction grows. There is a wide range of applications for tiling in both residential and commercial hospitals, infrastructure including hotels. Tile is widely used in transportation facilities, including airports and train stations. These elements contribute to the favorable growth prospects of the tile mortar market. Due to the growing population and rapidly growing hotel and tourism industry, the increase in the volume of residential construction offers profitable opportunities for well-known marketing organizations around the world.

Segmentation

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• By Type

On the basis of type, the market can be segmented into urethane based grout, epoxy based grouts, others.

Urethane Based Grout is anticipated to be the leading segment.

• By Application

On the basis of application, the market can be divided into mining industry, traffic industry, water conservancy industry, construction industry, others.

Mining Industry will be the dominating segment.

Driving Factors

"Wide Range of Applications to Foster the Market Growth"

Popularity of grouting method in a large number of civil engineering applications leads to market expansion. These materials are widely used to repair cracks in concrete. They are also used to seal joints and stabilize soil. Their use in house construction has increased significantly in recent decades, which has accelerated the introduction of these materials into the market. Grouting materials are also widely used to repair cracks and splits in concrete. The growing popularity of grouting in disaster prevention projects is likely to boost the grouting material market growth.

"Rising Investments in the Mining Sector to Aid Market Expansion"

The increase in the use of grouts in mining projects will create significant business opportunities for companies leading the market to grow. The continued growth of underground mining and the use of advanced tunneling technology is likely to increase the adoption of cementitious materials in mining projects. Large investments in the construction sector create an incredibly favorable atmosphere for the use of epoxy compounds, epoxy floors and epoxy adhesive in structures. The production of next-generation cars and related research projects are also accelerating the development of epoxy. The expansion of all epoxy end-use sectors is driven by rapid industrialization and changing government policies in key emerging market economies.  Subsequently, the demand for polyiodides increases. Advances in epoxy chemistry as a science allow greater commercial expansion in industrialized nations.

Restraining Factor

"Availability of Alternative Chemicals to Hinder the Market Growth"

The availability of alternative chemicals is hindering the growth of the grouting materials market. There are several other alternative materials or chemicals available for use in the closing process. Such chemicals such as asphalt or bitumen, acrylamides, acrylates and Sodium silicates are also used for injection. Availability of alternatives is expected to hinder the growth of the market. Increased cost of the manufacturing process and stricter government regulations are hindering the growth of the market.

Regional Insights

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"Asia Pacific to Dominate the Market Owing to the Urbanization"

Asia Pacific serves the largest regional grouting material market share. Because of their business potential, countries such as Indonesia, China, Malaysia, Singapore and South Korea have hosted several national and international events. This boosted the demand for hotels, shopping malls, apartment buildings, arenas and stadiums, which boosted the construction sector in the respective regions. The large market size coupled with the huge growth in the Asia-Pacific region is effective enough to expand the global market.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Sika (Switzerland)
• LATICRETE (U.S.)
• Custom Building Products (U.S.)
• GCP Applied Technologies (U.S.)
• Mapei (Italy)
• Ambex Concrete Technologies (Canada)
• Five Star Products (U.S.)
• Jinqi Chemical Group (China)
• Fischer Spezialbaustoffe (Germany)
• Nanjiang (China)
• A.W. Cook Cement Products (U.S.)
• TCC Materials (U.S.)
• CETCO (Minerals Technologies) (U.S.)
• Sobute New Materials (China)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.