Grouting Materials Market size is estimated to reach USD 12 Billion by the end of 2035, growing at a CAGR of 5% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of grouting materials was USD 8 Billion.The primary growth factor for the market is attributed to the expansion of construction industry, followed by the radical surge in chemical industry across the globe. For instance, the total worldwide revenue of the chemical industry in 2019 was around USD 3.85 trillion.
The emerging technologies and industrialization is able to speed up the manufacturing process of grouting materials without additional expenses. As grouting materials is a mixture of water, cement, and sand, it is utilized for pressure grouting that enhances the stability without delamination, cracking, or crumbling. Owing to its great advantages, in today’s date grouting materials is being highly used in construction industry. Thus, the recent focus on investing in construction industry for its expansion is expected to bring lucrative opportunities to support the growth of the grouting materials market. A recent data has estimated that by 2030 the global construction industry expenditure is expected to propel to USD 18 trillion.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~5% |
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Base Year Market Size (2022) |
~ USD 8 Billion |
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Forecast Year Market Size (2035) |
~ USD 12 Billion |
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Regional Scope |
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Application (Mining, Traffic, Water Conservancy, Construction)
The grouting materials market is segmented and analyzed for demand and supply by application into mining industry, traffic industry, water conservancy industry, construction industry, and others. Out of these, the construction industry segment is anticipated to garner the highest revenue by 2031, on the back of high growth rate of the industry. For instance, Statistics from a recent data revealed that the global construction industry is anticipated to grow to USD 8 trillion by 2030, with an average growth rate of 5%. Also, the high employment rate in the industry is an another growth factor for the expansion of market. As per latest calculations, the number of people that were hired in the construction industry of the United States was 10,350,000 in total in 2022.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Application |
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The North America grouting materials market is projected to hold the largest market share by the end of 2035. The increase in the number of businesses in the construction industry in the United States is the primary reason for the growth of the market. For instance, according to the most recent data, the emerging count of construction businesses is estimated to be approximately 3,790,000 in the United States in 2022. The high consumption of chemicals in the region is another factor driving the market growth. In terms of consumption, in 2020, the total consumption in the United States region amounted to 230 million tons, a 4% increase from 2019. Further, the rapid surge in urbanization, and escalating industrialization are further factors that are estimated to proliferate the growth of the grouting materials market in the region.
Sika AG has doubled its production capacity for mortar and concrete admixtures in Bolivia by opening a new plant in Santa cruz de la Sierra and thereby strengthening its foothold in the Bolivian contruction market.
Forsoc Inc., has announced its joint venture agreement with ChemTech, a leading construction chemicals company headquartered in Cairo, Egypt to manufacture and distribute Fosroc’s full range of construction chemical materials in Egypt. Both the companies will each hold ownership stakes of 50% in the joint venture.
Author Credits: Smruti Ranjan, Rajrani Baghel
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