Market Size of cementitious grout Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2018 - 2030 |
|
Market Size (2024) | USD 582.60 Million |
|
|
Market Size (2030) | USD 824.22 Million |
|
Largest Share by End Use Sector | Residential |
|
|
CAGR (2024 - 2030) | 5.95 % |
|
Largest Share by Region | Asia-Pacific |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
Cementitious Grout Market Analysis
The Cementitious Grout Market size is estimated at 582.60 million USD in 2024, and is expected to reach 824.22 million USD by 2030, growing at a CAGR of 5.95% during the forecast period (2024-2030).
582.60 Million
Market Size in 2024 (USD)
824.22 Million
Market Size in 2030 (USD)
3.62 %
CAGR (2018-2023)
5.95 %
CAGR (2024-2030)
Largest Market by End Use Sector
38.07 %
value share, Residential, 2023
Due to the increasing usage of cementitious 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.
Fastest Market by End Use Sector
6.71 %
Projected CAGR, Industrial and Institutional, 2024-2030
With the rising usage of cementitious grout in applications like machine foundations and bedding for the construction of automobiles, oil & gas, food industries, etc., the sector is expected to become the fastest growing in the market.
Largest Market by Region
49.62 %
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
6.99 %
Projected CAGR, Asia-Pacific, 2024-2030
Owing to growing investments in infrastructure projects, government initiatives, fast-paced urbanization, and industrialization, Asia-Pacific is expected to witness the fastest growth.
Leading Company
12.63 %
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.
Rise in demand for housing units to drive the demand for cementitious grout
- The global consumption of cementitious grout, driven by rising demand from the residential and commercial construction sectors, grew by 1.90% in value in 2022 compared to the previous year. This growth trajectory was expected to continue in 2023, with a projected increase of 5.29%.
- In 2023, the residential sector emerged as the dominant consumer, accounting for approximately 38.07% of cementitious grout usage. Factors such as global urbanization, government initiatives, and both foreign and domestic investments are fueling the demand for housing. For instance, by 2030, more than 40% of the Indian population is expected to live in urban India, creating a demand for around 25 million additional affordable housing units. As a result, the global cementitious grout for the sector is projected to increase by USD 90.35 million in 2030 compared to 2023.
- The industrial and institutional sector is expected to be the fastest-growing consumer of cementitious grout, recording the highest CAGR of 6.75% during the forecast period. Investments in new industrial buildings are expected to boost industrial growth. For instance, construction spending in new industrial buildings in the United States is projected to reach USD 47.59 billion by 2026. The industrial new floor area across the globe is projected to increase by 3.09% in 2030 over 2023, owing to an increase in warehousing space. For instance, the Indian warehousing space is likely to reach around 500 million sq. ft by 2030. As a result, the global cementitious grout for the sector is projected to reach USD 181 million in 2030 from USD 114 million in 2023.
Understand The Key Trends Shaping This Market
Asia-Pacific is expected to lead the growth of the cementitious grout market
- The global demand for cementitious grout grew by USD 9.8 million in 2022 over 2021. The highest increase in demand in that year was observed in Europe, primarily because of Italy, where a growth of nearly 20% occurred over the previous year. North America was expected to overtake Europe in terms of global demand growth by a nearly 6.36% increase in 2023 compared to 2022.
- Asia-Pacific is the world's largest consumer of cementitious grout, 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. Japan is poised to witness the highest growth in demand in the region, recording a CAGR of 7.83% during the forecast period.
- Europe is the second-largest consumer of cementitious grout in the world. Germany, France, and the United Kingdom are the most significant countries for the cementitious grout market in the region. Together, they held a share of 40% of the total demand in Europe in 2022. The residential and commercial end-use sectors consume more than 60% of the demand in the region. The demand in Italy is poised to grow the fastest in the region, recording a CAGR of 5.96% during the forecast period.
- Owing to the presence of countries like Japan, China, and South Korea, which have the highest growth rates in the world for the demand for cementitious grout due to their industrial & institutional and commercial sectors, Asia-Pacific is projected to record the fastest growth in demand for cementitious grout. The region is expected to record a CAGR of 7% during the forecast period (2023-2030).
