USD 613.34 million
Epoxy Grout Market Size, Share, Growth Analysis, By Type(Resin, Hardener, Aggregate), By Application(General, New Construction, Improvements and Repairs of Existing Construction, Sealant for Construction Industry Equipment), By End Use(Mining Industry, Water Conservancy Industry, Construction Industry), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2881 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
62
|Figures:
69
Epoxy Grout Market Insights
Global Epoxy Grout Market size was valued at USD 613.34 million in 2022 and is poised to grow from USD 632.87 million in 2023 to USD 872.97 million by 2031, growing at a CAGR of 4.00% in the forecast period (2024-2031).
Epoxy grout is used in many industries, including pharmaceuticals, food processing, construction, and mining. The demand for epoxy grouts will continue to rise as their properties such as durability, cleanliness, and chemical and bacterial resistance providing a complete seal will act as a key driver for the global epoxy grout market.
Population growth and rapid urbanization are driving the construction industry. This factor is expected to boost the global epoxy growth market during the forecast period. Furthermore, the demand for durable grouting materials, cleaning, and bacterial and chemical resistant grouting products in various industries is also driving the global epoxy grout market. Technological advances and continuous production result in environmentally friendly and high-quality products. However, the constraint is the volatility of raw material prices. Furthermore, this process takes long processing time, high labor cost, allergic reaction time of processing, unavailability of inventory are the major concerns expected to hamper the global epoxy grout by these factors the growth trajectory of the market during the forecast period.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hardener
Fastest Growth
Growth Rate
4.00% CAGR
Global Epoxy Grout Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Epoxy Grout Market Segmental Analysis
Global Epoxy Grout Market is segmented by Type, Application, End Use, and region. Based on Type, the market can be segmented into Resin, Hardener, Aggregate. Based on Application, the market can be segmented into General, New Construction, Improvements and Repairs of Existing Construction, Sealant for Construction Industry Equipment, Others. Based on End Use, the market is segmented into Mining Industry, Water Conservancy Industry, Construction Industry. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
The resin segment dominated the market, accounting for 63% of the market revenue. Epoxy grout is incredibly durable, stain-resistant, lightweight, great for barns, has a beautiful aesthetic and requires little maintenance. The above characteristics separate epoxy grout from competing materials. Epoxy grout is widely used in industrial applications, construction and equipment repair. Epoxy grout is also offered in a wide range of colors and is used for color uniformity. Epoxy grout is highly efficient, durable, and does not shrink, stain or discolor.
The hardener segment is one of the most important factors in the epoxy grout market that plays a major role in the performance and quality of the epoxy grout. Epoxy grouts are primarily used to line and protect a variety of surfaces such as tile, flooring, and appliances. When the solid is added to the epoxy resin, it begins a chemical reaction that makes the mixture more durable and more flexible.
Analysis by Application
Residential generated the highest revenue. Epoxy grout is a fantastic choice for grout lines in showers, bathtubs and worktops. Grout is also an excellent choice for waterproof walls, such as the walls around showers and bathtubs. Epoxy grout is the perfect choice for grout lines on floors, backsplashes and countertops. In addition, it works well for backsplashes and grout lines on kitchen walls, which can spill.
The industrial segment is an important and diversified market for epoxy grout, playing an important role in various applications where the quality of epoxy grout is highly valued and in heavy equipment. It has applications in manufacturing plants, power plants, refineries, and other industrial areas. Epoxy grout provides high-strength support and ensures excellent alignment and stability for critical machinery.
Global Epoxy Grout Market By Type
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Epoxy Grout Market Regional Insights
With increasing technological advancements, Asia-Pacific dominates the global epoxy grout market in terms of market share and revenue. Furthermore, the entry of key market players is expected to boost the growth of the global epoxy grout market in this region. The Asia-Pacific is expected to grow at the fastest CAGR from 2024 to 2031. The Asia-Pacific region, the largest construction market in the world, is witnessing high urbanization, rising middle class income , and grows because of the population. Emerging Asia-Pacific economies such as China, India, Indonesia, Vietnam and the Philippines have witnessed significant growth in construction activity and strong economic growth is expected to accelerate the growth of the region’s home construction sector. Furthermore, while the market held the largest market share, the market in the Asia-Pacific region has the fastest growth rate.
North America is expected to be the fastest growing region in the global epoxy grout market during the forecast period 2023 to 2031, owing to the rising presence of GCC and several other economies, notwithstanding the sealant consumption in the construction industry has increased. The region holds the second largest market share in the global epoxy grout market. These systems use durable and reliable epoxy-based materials to save costs and increase productivity. In addition, direct investment in infrastructure from government and non-government sources provides great potential for market expansion The food and beverage industry is expanding efficiently, paving the way for solutions such as metal coatings in water.
Global Epoxy Grout Market By Region
- Largest
- Fastest
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Epoxy Grout Market Dynamics
Drivers
Increasing Consumption in Various Industries to Boost Growth
- The market CAGR of epoxy grout is driven by its widespread use in various industries. Epoxy grout is used in a variety of industries including pharmaceutical, food processing, construction and mining industries. Epoxy grout is always in demand because of its durability, cleanliness and resistance to chemicals and bacteria while providing a good seal. The market for epoxy grout is growing mainly because of this product. Epoxy grout is highly chemical, abrasion and shock resistant. This makes it perfect for use in high-traffic or harsh chemical environments such as factories, food processing plants and swimming pools.
Growing Demand for Epoxy Coatings in Construction Industry
- Epoxy coatings are durable coatings used in a wide range of applications. These coatings are popular because they provide fast drying, durability and protection to metal and other coatings. Unlike traditional powder coatings, these products can be applied quickly and easily, making them ideal for a variety of coatings. They are durable and durable flooring treatments when used in floor products. Concrete floors are used in a variety of commercial and industrial applications such as commercial and retail establishments, manufacturing plants, industrial plants, hospitals, warehouses, showrooms, airports and garages.
Restraints
Legal Challenges and a Recession
- Recessions and financial crises can reduce consumer spending on entertainment. This could affect the revenues of resort businesses in the industry. Government regulations regarding land use, environmental protection and safety standards can impose compliance costs and operating restrictions on businesses and resorts.
High Cost of Epoxy Coatings is Likely to Restrain the Market
- Epoxy coatings are more expensive to produce than other coatings. This is because the raw materials needed to manufacture them are more expensive than other inferior coatings, and the manufacturing process is complicated, with little fault tolerance Also, epoxy must most resins pass a regulation to ensure FDA compliance and food safety, increased costs.
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Epoxy Grout Market Competitive Landscape
The competitive environment of the global Epoxy Grout market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor.
Top Player’s Company Profiles
- 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)
Recent Developments
- In March 2021, Pidilite Industries' domestic facade stone tile solutions brand Roff unveiled several projects to strengthen its presence in Kerala The company has introduced a range of premium products, including stone with various features such as plywood, metal and drywall included There are Master Fix Adhesives for tile and fixing, and Power Fix Adhesives are high strength flexible adhesives for bonding exterior stone and tile at any height.
- May 2022: To help with specification and color-matching, Mapei has added 12 new colors to its Ultracolor Plus line, new lines of Kerapoxy Easy Design epoxy grout and partner Mapei Grout app. UltraColor, the company’s signature cementitious grout, is a flexible polymer-modified grout that dries quickly and is designed for use with interior and exterior wall and floor tiles.
- September 2022: Trimurti, a leading manufacturer of insulation products, is ready to add its new range of tile grout, tile cleaner, epoxy grout, tile spacer and nozzle trowel to its known line of insulation products. The other in the middle is Trimurti. For the past 20 years, they have been at the forefront of manufacturing wall finishes and are now working to establish India as the global leader in insulation products.
Epoxy Grout Key Market Trends
Increasing Environmental and Safety Regulations
- The global epoxy grout market is primarily influenced by increasing environmental and safety regulations. Major epoxy grout manufacturers focus on custom engineering solutions based entirely on industrial requirements. Increasing trend of high quality and environmentally friendly products, innovation and technological advancements are driving the growth of the global epoxy grout market.
Epoxy Grout Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. Population growth and rapid urbanization are driving the construction industry. This factor is anticipated to drive the growth of the global epoxy grout growth market during the forecast period. Furthermore, the demand for durable grouting materials, cleaning, and bacterial and chemical resistant grouting products in various industries is also driving the global epoxy grout market. Constant technological advancement and product development results in environmentally friendly products. But the obstacle is fluctuating raw material prices. Furthermore, this process takes long processing time, high labor cost, allergic reaction time of processing, unavailability of inventory are the major concerns expected to hamper the global epoxy grout market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 613.34 million |
| Market size value in 2031 | USD 872.97 million |
| Growth Rate | 4.00% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Epoxy Grout Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Epoxy Grout Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Epoxy Grout Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Epoxy Grout Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Epoxy Grout Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Epoxy Grout Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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