Tile Grout Market Size, Share, Growth Analysis, By Type(Unsanded Grout, Finely Sanded Grout, Epoxy Grout, and Others), By Application(Residential, Industrial, and Commercial), By Region - Industry Forecast 2024-2031

Report ID: SQMIG20G2051 | Region: Global | Published Date: March, 2024
Pages: 157 | Tables: 64 | Figures: 68

Tile Grout Market News

In November 2021, Nuvoco Vistas Corp. Ltd., a renowned cement supplier based in India, announced the launch of its new tile grout at a virtual event. Zero M Water Shield 2K and Zero M Speedex Tile Grout were launched.

In June 2022, a leading provider of construction materials, announced the launch of its new epoxy grout with different colors. The company also launched a new application for users to accurately match the grout color.

In September 2022, India-based supplier of building products called Trimurti announced the launch of multiple new products including tile grout and tile cleaner.

Tile Grout Market Report Snapshots

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tile grout market size was valued at USD 2.5 billion in 2022 and is poised to grow from USD 2.67 billion in 2023 to USD 4.52 billion by 2031, growing at a CAGR of 6.8% in the forecast period (2024-2031).

Tile grout suppliers should invest in the research and development of novel products to expand their product portfolio and maximize their sales potential in the future. Companies can also collaborate and partner with tile manufacturers to improve their business reach on a level by leveraging their distribution networks. Market players can also focus on incorporating sustainable and eco-friendly raw materials in their manufacturing process to comply with changing sustainability mandates and consumer preferences. The tile grout market is highly competitive with a few established companies accounting for a good chunk of the market share. 'Bostik USA', 'ARDEX UK', 'Craft', 'MAPEI S.p.A', 'ParexGroup', 'FLEXTILE LTD', 'LATICRETE International Inc.', 'Krishna Colours and Constchem PVT LTD', 'Building Adhesives Ltd.', 'Sika AG', 'Custom Building Products', 'Saint-Gobain Weber', 'BASF SE'

An increase in population has led to high demand for infrastructure development, resulting in increased construction activity too. Tile grout is becoming essential in flooring and wall tiling applications and driving market growth as well.

Creation of Decorative Grout: Tile grout has come a long way from being available in just one shade and is now available in different colors to suit the aesthetic of the area of application. Companies can come up with innovative and creative styles and designs for tile grout to meet the evolving consumer preferences and boost revenue generation in the future.

Rapid urbanization and industrialization allow the Asia Pacific regional market to account for a sizeable share of the tile grout marketplace. High investments in infrastructure development coupled with increasing disposable income create highly rewarding opportunities for tile grout companies in the future. Changing consumer preferences and rising availability of modern tiles are also slated to bolster sales of tile grout products in this region with China and India spearheading regional market growth. Cheap labor and low raw material costs make this region a highly remunerative space for tile grout manufacturers from around the world.

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Tile Grout Market Size, Share, Growth Analysis, By Type(Unsanded Grout, Finely Sanded Grout, Epoxy Grout, and Others), By Application(Residential, Industrial, and Commercial), By Region - Industry Forecast 2024-2031

Tile Grout Market News

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