Global Epoxy Grout Market, By Type (Resin, Hardener, Aggregate), Industries (Mining industry, Water conservancy industry and Construction industry), Application (General, New Construction, Improvements and Repairs of existing construction, Sealant for Industrial Equipment and Others) - Industry Trends and Forecast to 2030.
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, over the forecast period of 2023 to 2030.
Data Bridge Market Research analyses that the global epoxy grout market was valued at USD 36.32 billion in 2022, is expected to reach USD 54.15 billion by 2030, registering a CAGR of 5.12 % during the forecast period of 2023 to 2030. 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 and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Resin, Hardener, Aggregate), Industries (Mining industry, Water conservancy industry and Construction industry), Application (General, New Construction, Improvements and Repairs of existing construction, Sealant for Industrial Equipment and Others)
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Countries Covered
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U.S., Canada and Mexico, 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
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Market Players Covered
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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)
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Market Opportunities
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Market Definition
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. Epoxy resin 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
Drivers
- High Usage of Epoxy Grout in Several Industries
The epoxy grout is used in several industries such as chemical, food processing, construction, and mining, among others. 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 global epoxy grout market.
- Rising Demand for Environment-Friendly Product
The global 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 global epoxy grout market.
Opportunity
- 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.
Restraints/ Challenges
- 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.
- Regulatory Challenges and Economic Downturns
Economic recessions and financial crises can lead to reduced consumer spending on recreational activities. This can impact the revenue of resorts and businesses in the industry. Government regulations related to land use, environmental protection, and safety standards can impose compliance costs and operational restrictions on businesses and resorts.
This global 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 global 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.
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.
Recent Development
- 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 global epoxy grout market is segmented on the basis of type, industries and application. The growth amongst these segments will help you analyse 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.
Type
- Resin
- Hardener
- Aggregate
Industries
- Mining Industry
- Water Conservancy Industry
- Construction Industry
Application
- General
- New Construction
- Improvements and Repairs of Existing Construction
- Sealant for Industrial Equipment
- Others
Global Epoxy Grout Market Regional Analysis/Insights
The global epoxy grout market is analysed and market size insights and trends are of type, industries and application as referenced above.
The countries covered in the global epoxy grout market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, Israel, South Africa, and Rest of Middle East and Africa
Asia-Pacific dominates the global 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 global epoxy grout market in this region.
North America is expected to be the fastest developing region in the global epoxy grout market during the forecast period 2023 to 2030, 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 regulations in the market domestically that impacts 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 Global Epoxy Grout Market Share Analysis
The global 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 the global epoxy grout market.
Some of the major players operating in the global 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)
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