(MENAFN- GlobeNewsWire - Nasdaq) Growing demand for grouting materials in the mining sector for tunneling, ground stabilization, and underground infrastructure development.
Wilmington, Delaware, United States, Transparency market Research Inc. -, Sept. 23, 2024 (GLOBE NEWSWIRE) -- The global grouting materials market (그라우팅 재료 시장) is estimated to flourish at a CAGR of 5.3% from 2023 to 2031. Transparency Market Research projects that the overall sales revenue for grouting materials is estimated to reach US$ 11.9 billion by the end of 2031.
The exploration of new applications and industries beyond traditional construction, such as mining, tunneling, and offshore installations, expands the scope of the grouting materials market.
Research into specialized grouting formulations tailored for specific conditions, such as extreme temperatures, high pressures, or corrosive environments, addresses niche market demands and enhances product performance. The trend towards offering customized grouting solutions, including pre-mixed formulations, rapid-setting options, and on-site technical support, meets the unique requirements of individual projects and enhances customer satisfaction.
Integration of digital tools and automation technologies into grouting processes, such as real-time monitoring systems, remote control applications, and automated mixing and injection systems, streamlines operations, improves efficiency, and reduces labor costs. Innovations in supply chain management, including just-in-time delivery, inventory management solutions, and strategic partnerships with suppliers, optimize logistics, reduce lead times, and ensure product availability, enhancing competitiveness in the grouting materials market.
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Key Findings of the Market Report
Chemical grouting leads the grouting materials market due to its versatility, effectiveness, and wide range of applications across various construction projects. Building & construction segment leads the grouting materials market due to extensive use in infrastructure projects such as bridges, tunnels, and buildings. Europe leads the grouting materials market due to extensive construction activities, stringent safety standards, and robust infrastructure projects across the region.
Grouting Materials Market Growth Drivers & Trends
Increasing investments in infrastructure projects worldwide drive demand for grouting materials, particularly in construction, transportation, and energy sectors. Growing focus on renovation and repair activities fuels demand for grouting materials in aging infrastructure and buildings. Continuous innovation in grouting technologies enhances product performance, durability, and application versatility, catering to evolving customer needs and industry standards. Rising demand for sustainable construction solutions fosters the development of eco-friendly grouting materials with reduced environmental impact and enhanced durability. Rapid urbanization and population growth drive the construction of new buildings and infrastructure, driving the demand for grouting materials globally.
Global Grouting Materials Market: Regional Profile
In North America , particularly in the United States and Canada, the grouting materials market is driven by robust infrastructure projects, including transportation, oil & gas, and civil engineering. Technological advancements and stringent safety standards contribute to the demand for high-performance grouting solutions, with key players like BASF SE and GCP Applied Technologies leading the market. Europe showcases a mature grouting materials market, supported by extensive construction activities, urbanization, and renovation projects. Countries like Germany, the UK, and France witness significant adoption of grouting materials in residential, commercial, and industrial sectors. Established players such as Sika AG and Fosroc International Ltd. dominate the regional market, emphasizing sustainability and innovation in product offerings. In Asia Pacific , rapid urbanization, infrastructure development, and industrialization drive the demand for grouting materials across emerging economies like China, India, and Southeast Asian countries. Growing investments in transportation, energy, and construction sectors fuel market growth, with local players and multinational corporations competing for market share. Government initiatives promoting sustainable infrastructure and urban development further propel the adoption of grouting materials in the region.
Grouting Materials Market: Competitive Landscape
The competitive landscape of the Grouting Materials Market is marked by a blend of established players and emerging competitors striving for market share and innovation. Key players such as BASF SE, Sika AG, and Fosroc International Ltd. dominate with extensive product portfolios and global reach. Regional players like Larson O'Brien and Five Star Products Inc. cater to niche markets with specialized offerings.
Competition intensifies as companies focus on product development, strategic partnerships, and geographical expansion to meet diverse customer demands. Sustainability initiatives and technological advancements play a pivotal role in shaping the competitive dynamics of the grouting materials industry. Some prominent players are as follows:
BASF SE Sika AG Fosroc International Ltd. Mapei S.p.A Saint-Gobain Weber The Euclid Chemical Company Normet International Ltd. GCP Applied Technologies Five Star Products Inc. CICO Technologies Limited LATICRETE International Inc. Ardex Group AkzoNobel N.V. Tarmac Trading Limited Master Builders Solutions (MBCC Group)
Product Portfolio
Sika AG offers a diverse product portfolio encompassing construction chemicals, adhesives, sealants, and waterproofing solutions. With a global presence and a focus on innovation, Sika provides sustainable solutions to enhance durability, efficiency, and performance in construction projects worldwide. Mapei S.p.A is a leading manufacturer of construction chemicals, adhesives, and sealants. With a dedication to research and development, Mapei offers a wide array of products for flooring, waterproofing, and concrete repair, ensuring high performance and sustainability in construction projects globally.
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Grouting Materials Market: Key Segments
By Type
Cement Grouting Chemical Grouting Structural Grouting Bentonite Grouting Bituminous Grouting Resin Grouting Others
By End Use
Mining Building & Construction Oil & Gas Transportation Others
By Region
North America Latin America Europe Asia Pacific Middle East & Africa
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