Global Epoxy Grout Market, By Type (Resin, Hardener, Aggregate), Industries (Mining industry, Water conservancy industry and Construction industry), Application (General, New Construction, Improvements & Repairs of existing construction, Sealant for Industrial Equipment and Others) – Industry Trends and Forecast to 2029.
Epoxy Grout Market Analysis and Size
Growth in the modification and construction of buildings is likely to boost the demand for effective refurbishment solutions for existing flooring systems and drive the growth of the global epoxy grout market. Furthermore, epoxy grout is highly preferred for swimming pools, kitchen flooring in hospitals and bathrooms. Epoxy grout plays a vital role in industrial facilities, mainly in food processing and chemicals plants such as bottling plants, textile, breweries, dairies, and metal finishing due to its high resistance to alkaline and acidic products, as well as solvents and grease.
Data Bridge Market Research analyses that the epoxy grout market was valued at USD 36.32 billion in 2021 and is expected to reach USD 54.15 billion by 2029, registering a CAGR of 5.12 % during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Epoxy Grout Market Scope andSegmentation
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Type (Resin, Hardener, Aggregate), Industries (Mining industry, Water conservancy industry and Construction industry), Application (General, New Construction, Improvements & Repairs of existing construction, Sealant for Industrial Equipment and Others)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
Sika AG (Switzerland), LATICRETE International, Inc. (U.S.), Five Star Products, Inc. (U.S.), Hexion (U.S.), Atul Ltd (India), New Japan Chemical Co. Ltd. (Japan), Aditya Birla Chemicals (India), Kukdo Chemicals Co. Ltd. (South Korea), Anhui Xinyuan Chemical Co. Ltd.(China), SIR Industriale (Italy), The Euclid Chemical Company (U.S.), Bostik (U.S.), Saint-Gobain (France), Henkel AG (Germany)
Epoxy grout is made by two components: filler powder and epoxy resin, which are formulated to get a grout with properties including waterproof, stain-proof, and chemical resistance. It is generally used to fill cracks on any surface or joints such as vitrified tiles, ceramic tiles and stone. Epoxy grout is very durable, waterproof, stain proof and chemical resistant. Epoxyresin and epoxy hardener are used in epoxy grout to deliver more bond strength to the tile, which is completely different from other grout such as cement grout or emulsion grout.
Global Epoxy Grout Market Dynamics
- High usage of epoxy grout in several industries
The epoxy grout is used in several industries such as chemical, food processing, construction, mining, etc. The demand for the epoxy grout continuously increases due to their properties such as durable, hygienic, and chemicals and bacteria resisting properties that offer proper sealing. This factor will act as the major driver for the growth of epoxy grout market.
- Rising demand for environment-friendly product
The epoxy grout market is mainly influenced by increased environmental safety regulations. The major manufacturers of epoxy grout are focusing on the growth of the customized technical solutions which completely based on the industrial requirements. Increase in trend of high-quality and environment-friendly products, new product reformulation and advancements in technologies are boosting the growth of the epoxy grout market.
- Growing demand of epoxy grout in building and construction sector
The epoxy grout is high in demand in the construction and building sector for walls, flooring, roofing, structural bonding, and others because of their superior bonding, environment-friendly features, water resistance and adhesion properties. The building and construction sector is considerably booming due to numerous growth factors such as a rising residential housing, increasing demand for modular construction projects, increase in accommodation projects, growth of commercial building and urbanization. Thus, the growing demand for epoxy grout in the building and construction sector is anticipated to create immense opportunities for market growth.
Furthermore, modernization and technological advancements in epoxy grout industries will further create lucrative market growth opportunities during the forecast period of 2022- 2029.
- Disadvantages associated with epoxy grout market
Volatility in the price of raw material, higher labour cost, long application process, allergic reactions during the application of epoxy grout, and unavailability for storage space are some major which restraints the growth of the global epoxy grout market
This epoxy grout market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the epoxy grout market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Epoxy Grout Market
The COVID-19 pandemic had adversely impacted the growth of the global epoxy grout market. From a regional point of view, COVID-19 pandemic has caused a major hindrance to the export-oriented economy of many countries owing to the closing down of supply and manufacturing units in the country. The construction sector has highly affected during this pandemic because of self-isolation, city-wide lockdowns and social distancing which have forced many locations to stop construction activities overall the globe. All these factors have impacted the overall epoxy grout consumption across all the countries.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
- In March 2021-Roff, a leading stone and tile solutions brand from the house of Pidilite Industries, has revealed numerous initiatives to strengthen its availabilty in Kerala. The company has launched a complete range of premium products, comprising Master Fix Adhesives for fixing stone and tile on diverse surfaces such as plywood, metal and drywalls, and Power Fix Adhesives is a high strength flexible adhesive for external stones and tiles at any height.
Global Epoxy Grout Market Scope
The epoxy grout market is segmented on the basis of type, industries and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Mining industry
- Water conservancy industry
- Construction industry
- New Construction
- Improvements & Repairs of existing construction
- Sealant for Industrial Equipment
Epoxy Grout Market Regional Analysis/Insights
The epoxy grout market is analyzed and market size insights and trends are provided by country, type, industries and application as referenced above.
The countries covered in the epoxy grout market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the epoxy grout market in terms of market share and revenue due to the increase in industrialization. Moreover, the presence of major market players will further increase the growth of the epoxy grout market in this region.
North America is expected to be the fastest developing region during the forecast period 2022-2029 due to the rise in the usage of sealants in the construction industry. Furthermore, the increasing GCC and several other economies is further expected to boost the growth of the epoxy grout market in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Epoxy Grout Market Share Analysis
The epoxy grout market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to epoxy grout market.
Some of the major players operating in the epoxy grout market are:
- Sika AG (Switzerland)
- LATICRETE International, Inc. (U.S.)
- Five Star Products, Inc. (U.S.)
- Hexion (U.S.)
- Atul Ltd (India)
- New Japan Chemical Co. Ltd. (Japan)
- Aditya Birla Chemicals (India)
- Kukdo Chemicals Co. Ltd. (South Korea)
- Anhui Xinyuan Chemical Co. Ltd.(China)
- SIR Industriale (Italy)
- The Euclid Chemical Company (U.S.)
- Bostik (U.S.),
- Saint-Gobain (France)
- Henkel AG (Germany)