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CHEMICALS AND ADVANCED MATERIALS

Grouting Materials Market Analysis by Type (Urethane Based, Epoxy Based, and Others); and by Application (Mining Industry, Traffic Industry, Water Conservancy Industry, Construction Industry, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • May, 2022: 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.

  • December, 2022: 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.

Global Grouting Materials Market Size, Forecast, and Trend Highlights Over 2022 - 2031

Grouting Materials Market Region Table

The global grouting materials market is estimated to garner a revenue of ~USD 9 billion by the end of 2031 by growing at a CAGR of ~4% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of ~USD 7 billion in the year 2021. The primary growth factor for the grouting materials market is attributed to the expansion of construction industry. In 2019, the revenue garnered by the global construction industry was almost USD 2 trillion. 

Grouting Materials Market Regional Overview

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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.

Market Definition:

The process used to seal a crack or leaking joint in underground piping using a mixture of cement, sand, and water or chemicals (collectively known as grout) is called grouting. It is required for repairing concrete cracks, filling seams and gaps in tiles, gaps for sealing and waterproofing, for soil stabilization and to give additional strength to the foundations of load-bearing structures. It is also done to prevent the flow of groundwater into the pipe or to keep the material in the pipe from flowing into the groundwater. There are different types of grouting, cement grouting, chemical grouting, and bituminous grating, based on the material used.

Global Grouting Materials Market: Growth Drivers and Challenges

Growth Drivers

  • Expansion in Manufacturing Industry – Grouting materials radiate in voids for the repair of cracks, strengthening of damaged concrete, and filling gaps in various manufacturing processes. The high advantages of grouting materials are thus expected to increase their usage in the manufacturing industry. Therefore, expansion in the manufacturing industry is further projected to propel the grouting materials market. As per a recent report, it was stated that the revenue gathered by the United States’ manufacturing industry stood up at approximately USD 6 trillion in 2022.  

  • Growth in Research and Development Expenditure - The World Bank calculated the global research and development expenditure in proportion to gross domestic product (GDP) to be 2.63% in 2020. This is a considerable increase from 2.2% in 2018.

  • Rise in the Chemical Industry – The recent development in India has propelled the Indian chemical industry to grow by a CAGR of 10% with a revenue of USD 300 billion by 2025.

  • Rising Support from Various Governments through Various Policies and Schemes - In India, around USD 26 million was allocated by the government to the Department of Chemicals and Petrochemicals under the Union Budget 2022-23.

Challenges

  • Availability of Alternative Chemicals
  • Increased Costs of Production Process
  • Stringent Government Rules

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. 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.

Major Macro-Economic Indicators Impacting the Market Growth

Grouting Materials Market Region

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Grouting Materials Market Regional Synopsis

Regionally, the global grouting materials market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these, the market in North America is projected to hold the largest market share by the end of 2031. 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. According to the most recent data, there will be 3,790,000 construction businesses 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 tonnes, a 4% increase from 2019.

Grouting Materials Market Regional Synopsis

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The global grouting materials market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global grouting materials market includes the following segments:

By Type

  • Urethane Based
  • Epoxy Based
  • Others

By Application

  • Mining Industry
  • Traffic Industry
  • Water Conservancy Industry
  • Construction Industry
  • Others

Top Featured Companies Dominating the Global Grouting Materials Market

  • A.W. Cook Cement Products Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • CICO Technologies Limited (CTL)
  • Sika AG,
  • Fosroc Inc.
  • LATICRETE International Inc.
  • Custom Building Products
  • ITW Wind Group (State of Green)
  • GCP Applied Technologies Inc.
  • Mapei Corporation
  • Fischer Spezialbaustoffe GmbH
  • Ambex Concrete Technologies Inc.

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