SAN FRANCISCO, Sept. 6, 2021 /PRNewswire/ -- The global chemical anchors market size is expected to reach USD 1.20 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.1% from 2020 to 2028. Rising demand for chemical anchors across industrial and infrastructure projects owing to their superior performance and durability is expected to propel market growth.
Furthermore, the growing demand for anchors that are easy to install and are more efficient and reliable, coupled with the popularity of the technologies used in its production, is driving manufacturers to continuously engage in innovation, requiring them to take the necessary steps to maintain and improve the product standards.
Key Insights & Findings:
- By product, capsule adhesive anchors are expected to register the fastest CAGR of 5.0% over the forecast period owing to the increasing use of the product in the infrastructure and commercial segments
- In terms of resin, unsaturated polyester chemical anchors are primarily used in masonry and uncracked concrete applications. However, methacrylates and pure epoxy type anchors are better suited for more demanding applications, including rebar and fractured concrete
- The rising construction spending, particularly in the emerging economies, is a key factor promoting growth in the chemical anchor industry. Rising product awareness, coupled with the high consumer spending in the residential sector, is propelling the demand for chemical anchors
- In the U.S., the demand for chemical anchors is expected to increase on account of the growing investments in infrastructure repair and rebuilding. Chemical anchors are being used in a majority of steel constructions, column bases, and scaffold anchoring
- Manufacturers in the chemical anchor industry are involved in adopting several strategies, including acquisition, joint venture, new product development, and geographical expansion, which aid in enhancing their market penetration
Read 100 page market research report, "Chemical Anchors Market Size, Share & Trends Analysis Report By Product (Injectable Adhesive, Capsule Adhesive), By Resin (Epoxy Acrylate, Hybrid Systems), By Application (Infrastructure, Industrial), By Region, And Segment Forecasts, 2020 - 2028", by Grand View Research.
Technological improvements have increased the functioning of the product. The product provides a fair shelf life and a high level of corrosion resistance that is at par with its counterpart two-component epoxy polyamide coatings. Epoxy is an important component in the chemical anchoring formulation, hence boosting its application as compared to its counterparts.
One of the major factors influencing the production is raw material availability, distribution network, and favorable geographical locations. The primary raw material used in the manufacturing of chemical anchors is polymer, which is directly being sourced from China. Major manufacturers have long-term tie-ups with key raw material suppliers from the country owing to the low cost and efficient supply chain.
However, in the post-pandemic scenario, manufacturers are looking for a diversified supply chain by focusing on raw material procurement from multiple locations. Thereby creating opportunities for a large number of manufacturers who are looking to build long-standing partnerships.
The use of the Internet of Things (IoT) has enabled companies to harness data in industrial environments, wherein they have started collecting data to understand and improve operational performance. Hilti Group in February 2020 paved the way for IoT to enter into the fasteners market by launching IoT-enabled smart fasteners that identify and document anchors, screws, and bolts installed.
Grand View Research has segmented the global chemical anchors market on the basis of product, resin, application, and region:
- Chemical Anchors Product Outlook (Revenue, USD Million, 2017 - 2028)
- Injectable Adhesive
- Capsule Adhesive
- Chemical Anchors Resin Outlook (Revenue, USD Million, 2017 - 2028)
- Polyester
- Unsaturated Polyester
- Epoxy Acrylate
- Pure Epoxy
- Hybrid Systems
- Chemical Anchors Application Outlook (Revenue, USD Million, 2017 - 2028)
- Residential
- Commercial
- Infrastructure
- Industrial
- Chemical Anchors Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Central & South America
- Brazil
- Middle East & Africa
- Saudi Arabia
List of Key Players of Chemical Anchors Market
- Hilti Group
- MKT Fastening
- Power Fasteners
- FIXDEX Fastening Technology
- Illinois Tool Works Inc.
- Sika AG
- Simpson Strong-Tie Company, Inc.
- Henkel AG & Company, KGaA
- EJOT
- Ripple India
- KoelnerRawlplug IP
- MungoBefestigungstechnik AG
- Chemfix Products Ltd.
- Leviat B.V.
Check out more studies related to the Global Advanced Interior Materials Industry, conducted by Grand View Research:
- Aerogel Market - The global aerogel market size was valued at USD 818.9 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 15.1% from 2020 to 2028. The rapid development of the aerogel for high-temperature insulation primarily in the oil & gas industry, due to low thermal conductivity is expected to drive the market over the forecast period.
- Stone Paper Market - The global stone paper market size was estimated at USD 785.5 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.8% from 2020 to 2028. High demand for stone paper attributed to its sustainability and aesthetic quality from the paper packaging industry is one of the major factors driving the market.
- Can Seamers Market - The global can seamers market size was estimated at USD 495.8 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.7% from 2020 to 2028. Rising consumer awareness about health and wellness coupled with increasing demand for packaged food and beverage products are projected to drive the market over the forecast period.
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Follow Us: LinkedIn | Twitter
Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg
