Press release
Grouting Materials Market is Estimated to Reach Revenue of US$ 11.9 billion by 2031
Grouting Materials Market
The grouting materials industry size stood at US$ 7.5 Bn in 2022. A rapid increase in the usage of cementitious and non-cementitious grouts in tunnelling operations is expected to propel the Grouting Materials Market. Growth in the adoption of grouting techniques to strengthen underground structures is a key trend that is likely to bolster market evolution. Grouting materials enhance the mechanical properties of soil, thereby improving its bearing capacity.
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Key Findings of Study
Wide Range of Usage of Grouting Materials in Construction: Surge in the adoption of the grouting method in a wide range of civil construction applications is expected to propel the market. Grouting materials are extensively employed to repair cracks in concrete. They are also used in joint sealing and stabilization of soils. Their usage in building construction has increased significantly over the past few decades, thus spurring the commercialization of grouting materials in the market. Grouting materials are also widely used in repairing fissure and cracks in concretes. Rise in popularity of grouting in disaster prevention projects is likely to boost the market.
Significant Adoption of Cement Grouting Materials: Based on type, the cement grouting segment is projected to account for the leading share from 2023 to 2031. Rise in construction activities and rapid pace of urbanization in developing countries are likely to drive the demand for cement grouting in civil construction projects. Extensive adoption of grouting materials can be ascribed to their cost-effectiveness and attractive properties such as high strength and mobility.
Surge in Demand for Grouting Materials in Mining Projects: Rise in usage of grouting materials in mining projects is anticipated to offer significant business opportunities to companies in the Grouting Materials Market. Steady increase in underground mining activities and usage of advanced tunneling technology are likely to fuel the adoption of grouting materials in mining projects.
Key Drivers
Rise in public and private investment in infrastructure development in developed and developing countries is a key factor driving the Grouting Materials Market
Significant growth in mining activities, supported by sizable government investment in coal mining projects, is anticipated to propel the market.
Advancement in grouting techniques, such as usage of advanced grouting consolidation technology, in mining projects is estimated to augment the market value over the next few years.
Regional Growth Dynamics
Asia Pacific is anticipated to account for major share of 50.3% of the global Grouting Materials Market in 2022. Rapid pace of construction and infrastructure development activities across the region is likely to propel the market in the region.
Europe and North America are lucrative markets for grouting materials. Rise in adoption of advanced grouting techniques is projected to spur the adoption of various types of grouting materials to enhance strength of the foundations of range of load-bearing structures in these regions.
Competition Landscape
Small number of large-scale vendors control majority stake in the Grouting Materials Market. This makes the market landscape highly consolidated. Key players are focusing on expanding their product portfolio by including environmentally-friendly grouting materials.
Prominent companies in the Grouting Materials Market are
Sika AG,
BAF SE,
Fosroc International Ltd.,
Mapei SpA,
Saint-Gobain Weber,
The Euclid Chemical Company,
Normet International,
Five Star Products Inc.,
CICO Technologies Limited,
LATICRETE International Inc.,
Ardex Group,
AkzoNobel N.V.,
Tarmac Trading Limited, and GCP Applied Technologies.
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