Market Size of anchors and grouts Industry
| Icons | Lable | Value |
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Study Period | 2018 - 2030 |
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Market Size (2024) | USD 1.97 Billion |
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Market Size (2030) | USD 2.88 Billion |
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Largest Share by End Use Sector | Residential |
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CAGR (2024 - 2030) | 6.51 % |
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Largest Share by Region | Asia-Pacific |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Anchors and Grouts Market Analysis
The Anchors and Grouts Market size is estimated at 1.97 billion USD in 2024, and is expected to reach 2.88 billion USD by 2030, growing at a CAGR of 6.51% during the forecast period (2024-2030).
1.97 Billion
Market Size in 2024 (USD)
2.88 Billion
Market Size in 2030 (USD)
3.73 %
CAGR (2018-2023)
6.51 %
CAGR (2024-2030)
Largest Market by Sub Product
62.30 %
value share, Resin Fixing, 2023
Owing to its widespread applications in residential and industrial constructions due to its properties such as corrosion-resistant, vibration-resistant, etc., the segment holds the largest share.
Largest Market by End Use Sector
33.09 %
value share, Residential, 2023
Due to the increasing usage of anchors and grouts for applications such as flooring, tiled walls, tile joints, etc., to build high-quality and attractive homes, apartments, etc., the residential sector holds the largest share.
Largest Market by Region
49.16 %
value share, Asia-Pacific, 2023
Asia-Pacific dominated the market due to the growing industrial construction activities in the region and the increasing demand for cementitious grout in countries like China, India, Japan, and South Korea.
Fastest Market by Region
7.55 %
Projected CAGR, Asia-Pacific, 2024-2030
Asia-Pacific is expected to witness the fastest growth due to growing investments in infrastructure projects, government initiatives, fast-paced urbanization, and industrialization.
Leading Company
17.09 %
market share, Sika AG, 2022
The company's broad range of high-quality products, well-established network, robust supply chain, and strategic expansions and acquisitions in the construction industry make it a major player in the market.
The Asia-Pacific is focusing on economic growth and attracting foreign direct investments, which is expected to influence the market's growth
- In 2022, the global anchors and grouts market saw a notable 5.1% surge in value, primarily driven by a 2% uptick in global infrastructure spending. In contrast, other sectors witnessed either marginal or negative growth rates. Due to the high growth rates expected from the commercial and residential sectors in 2023, the market was estimated to register a 5.3% increase from 2022.
- As a major contributor to the market's value across nations, the residential sector holds a dominant position globally. For instance, in 2022, Asia-Pacific and Europe accounted for value shares of 31% and 36%, respectively. The preference for tile, marble, or stone flooring in residential buildings, as opposed to hardwood or laminate, prevalent in Asia-Pacific and certain European nations, contributes to the higher regional values.
- Commercial buildings extensively employ anchors and grouts for various applications, including tile joint filling, crack repairs, and anchoring bolts or fence posts. Given that many high-rise non-residential buildings house commercial spaces like offices, hotels, and retail outlets, the sector's consumption of anchors and grouts surpasses others.
- The Asia-Pacific region is poised for significant growth in the anchors and grouts market, particularly in the industrial & institutional sector. The growth can be attributed to a strategic focus on expanding manufacturing, education, and healthcare sectors to bolster the economy and attract foreign investments. As a result, the industrial & institutional sector is projected to witness the fastest growth, recording a CAGR of 7.18% from 2023 to 2030.
Understand The Key Trends Shaping This Market
Fast-paced growth in the demand for anchors and grouts in most Asia-Pacific countries to influence the market's growth
- Globally, the consumption of anchors and grouts in 2022 witnessed the highest growth in Europe, increasing by 8.19% compared to the previous year. In 2023, North America was expected to overtake Europe in terms of growth in demand for anchors and grouts at a global scale by nearly 6.43% compared to 2022.
- The anchors and grouts market witnessed the most demand from the Asia-Pacific, primarily owing to China, which accounted for 32% of the global demand in 2022. Other significant countries for the market in the region are Japan and India, collectively accounting for nearly 18% of the total demand in the region in 2022. Furthermore, Japan is poised to witness the highest growth in demand in the region, recording a CAGR of 8.09% during the forecast period (2023-2030).
- Europe is the largest market globally after the Asia-Pacific for anchors and grouts. Germany, France, and the United Kingdom are the most significant countries in the region for the market. Together, they held a share of 40% in terms of the total demand in Europe in 2022. The residential and commercial end-use sectors consume more than 60% of the anchors and grouts in the region. The demand in Italy is poised to grow the fastest in the region, recording a CAGR of 6.18% during the forecast period.
- China, Japan, and South Korea are expected to record the highest CAGRs of 8.09%, 7.79%, and 7.58%, respectively, in terms of the demand for anchors and grouts globally. Owing to this, the demand for anchors and grouts is expected to grow at the fastest rate in Asia-Pacific, recording a CAGR of 7.59% during the forecast period.
