Market Trends of Resin Capsule Industry
This section covers the major market trends shaping the Resin Capsule Market according to our research experts:
Growing Demand of Resin Capsule from the Mining Industry
- The resin capsule consists of a structural adhesive grout and resin, such as unsaturated polyester resin and a threaded rod or a reinforcing bar, which is inserted in a drilled hole, to develop their holding capacities by bonding of the adhesive grout to both the anchor and concrete.
- Easy installation and resistance to anchoring failure by vibration make resin capsule the best suite for the mining Industry.
- Increasing safety concerns in underground mines, due to tunnel failure, boosted the demand for resin capsule bolts.
- The demand for more flexibility in planning, designing, and strengthening concrete structures resulted in an increased consumption of chemical grouted anchors.
- Hence, owing to the above-mentioned factors, the application of resin capsule from the mining industry is likely to dominate, during the forecast period.
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Asia-Pacific to Dominate the Market Studied
- Asia-Pacific is expected to dominate the market for resin capsule, during the forecast period. The increasing demand for resin capsule, with growing mining and construction activities in developing countries, like China and India, is expected to drive the demand for resin capsule in the region.
- The largest producers of resin capsule are located in Asia-Pacific. Some of the leading companies in the production of resin capsule are Orica Limited, Sormat Oy, DSI Underground, Minova, and Fischerwerke GmbH & Co. KG, among others.
- The metals and mining sector in India is expected to witness a major reform in the next few years, owing to reforms, such as Make in India Campaign, Smart Cities, Rural Electrification, and a focus on building renewable energy projects under the National Electricity Policy, as well as the rise in infrastructure development.
- According to China's statistical yearbooks, the construction industry has contributed considerably to the country's economic development. The urbanization process and gross output of the construction industry in China have increased from USD 0.21765 trillion to USD 2.902 trillion.
- Owing to the above-mentioned factors, the Resin Capsule Market in the Asia-Pacific region is projected to grow significantly, during the study period.
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