|Base Year Market Size
|USD 1,109.50 Million
|Forecast Year Market Size
|USD 1592.88 Million
|Fastest Growing Market
The global chemical anchors market size was valued at USD 1,109.50 million in 2022. It is estimated to reach USD 1,592.88 million by 2031, growing at a CAGR of 4.10% during the forecast period (2023–2031). The expansion of the construction industry is projected to be the impetus behind a change in the market for chemical anchors.
Chemical anchors are specialized fastening techniques used in construction to reinforce and fix structural components such as bolts, rods, or anchors in various substrates such as concrete, masonry, or stone. Unlike mechanical anchors that depend on friction or expansion, they combine adhesive properties and mechanical interlocking to create a solid and durable bond. Chemical anchors comprise an adhesive resin and an anchor rod or bolt injected into pre-drilled holes. While the adhesive glue is often a two-component combination, the load-bearing portion of the anchor is typically made of steel. The anchor rod cures and is bound to the substrate as a result of a chemical process that takes place in the resin.
High load-bearing capacity, exceptional resistance to dynamic loads and vibrations, and adaptability in a range of foundation materials are all features of chemical anchors. They are frequently used for tasks that demand high strength and dependability, including seismic retrofitting, installing heavy machinery, and connecting structural steel. Chemical anchors offer a dependable solution for assuring the stability and integrity of building projects, enhancing structural performance, and guaranteeing the longevity and safety of structures exposed to heavy loads or environmental variables.
The construction industry is poised to be one of the most dynamic in the next years, and its contribution to the economic growth of the entire world cannot be overstated. The global construction industry is expected to keep expanding at a significant clip in the coming years. Even if the recent breakout of the pandemic has slowed down most projects worldwide, the current easing of restrictions and economic help injection in the form of financial packages by governments to restore the demand and economy will likely kickstart the industry again.
Nevertheless, a favorable growth forecast may be seen in the general long-term view of the construction industry as a whole. An increase in population led to increased spending, and actions taken by the government are causing upswings in market growth. During the period under consideration, the expansion of the construction industry is projected to be the impetus behind a change in the market for chemical anchors.
As a result of the steadily growing demand for offshore wind turbines, chemical anchors are gaining popularity as a replacement and preferred anchoring method. This is so because, in comparison to conventional anchors, chemical anchors have several advantages. This results from several advantages offered by chemical anchors that are unavailable from traditional anchoring methods. This is the case since chemical anchors are an efficient choice that is also kind to the environment.
This is because chemical anchors have a variety of advantages that other forms of anchors do not, making them the type of anchor that is generally advised to be used. Using chemical anchors instead of other anchors is advisable since they offer several advantages that other anchors do not. This recommendation is made since chemical anchors outperform other anchors in effectiveness.
Chemical anchors in the building industry are likely to be restricted by low levels of contractor awareness on the usage of the proper kind and quality of construction chemicals for structures. Since the material is still growing, little research has been done on its durability. Furthermore, there are no pertinent consumer guidelines for construction in the industry. As opposed to mechanical anchors, chemical anchors are more susceptible to inadequate hole cleaning during installation, which is their main drawback. In addition, chemical anchors are more expensive than mechanical anchors, which is expected to slow their uptake in developing nations.
Additionally, the expansion of chemical anchors in the upcoming years may be constrained by price volatility or changes due to other circumstances, such as trade conflicts and environmental concerns.
Renovation and retrofitting projects are gaining popularity as society places a greater emphasis on being environmentally responsible and prolonging the functional life of existing structures. This trend can be attributed to existing buildings expected to house more people in the coming decades. One of the reasons for the growing interest in these kinds of projects is that this is happening. Chemical anchors are of the utmost essential to completing these projects because they strengthen and fortify the structures. This is because chemical anchors play these roles. The market for restoration and retrofitting allows makers of chemical anchors to create one-of-a-kind solutions that will increase the structural integrity of the structures they are working on.
Based on region, the global chemical anchors market is bifurcated into North America, Europe, Asia-Pacific, Central and South America, and the Middle East and Africa.
North America is the most significant global chemical anchors market shareholder and is estimated to exhibit a CAGR of 4.1% over the forecast period. Chemical anchors have received greater attention in North America over the last few years, notably in commercial and infrastructure-related activities. The resilience of the manufacturing sectors in the several nations that make up North America and the abundance of commodities are the primary drivers of the region's rapid economic progress.
Additionally, it is anticipated that during the forecast period, market growth will increase due to increased awareness of chemical anchoring and expanding infrastructure investment in the region. This is one of the reasons why the prediction is being made. It is anticipated that the recovery of the construction industry in the United States and an increase in building activity in Canada and Mexico will fuel market expansion over the period covered by the forecast. Additionally, it is anticipated that an increase in construction activity in Australia will also contribute to market expansion.
Europe is anticipated to exhibit a CAGR of 6.0% over the forecast period. The supportive actions taken by the governments in the region, large salary rises, and ongoing job creation are all factors that contribute to the region's economic development. In addition, it is anticipated that expenditures made by the government, notably in the areas of digital and transportation infrastructure, will contribute to the expansion of the regional economy. Construction activities in Europe's residential and infrastructure sectors are anticipated to resume as the region's economy improves. It is anticipated that nations like the United Kingdom, France, and Italy, severely impacted by the epidemic, will recover. Demand for chemical anchors will likely stay high in these nations during forecasting.
In Asia-Pacific, the rise in GDP in nations like India and China, as well as those in Southeast Asia, has resulted in an increased need for public infrastructure upgrades, including roads, harbors, airports, and rail transportation networks. It has been observed that there has been a significant uptick in the number of mergers and acquisitions, integration activities, and site relocations, all of which are fuelling the region's industrial development activity. The economic forecast for the region is expected to continue to be robust and dynamic. It includes economies quickly becoming important manufacturing hubs thanks to the plentiful supply of natural resources and the low labor cost, attracting investments.
Central and South America, including Brazil, Peru, and Argentina, have begun economic recovery as manufacturing net exports have reached pre-pandemic levels, but consumption and investments have lagged. The economies have improved their GDP growth due to factors like the flood of remittances, rising food prices, and effective government economic assistance. Rising migration is anticipated to increase demand for new homes in the nation's main cities, notably Sao Paulo and Rio de Janeiro, as well as other cities.
In the Middle East and Africa, some of the most important industries contributing to the expansion of the African region include oil and gas extraction, mining, and infrastructure development. The growth of the chemical anchors market is projected to be boosted by the expanding building activities in the Middle East and the launch of new oil and gas projects.
|Hilti Group Illinois Tool Works Inc. Sika AG Simpson Strong-Tie Company, Inc. Henkel AG and Company, KGaA MKT Fastening Power Fasteners FIXDEX Fastening Technology EJOT Ripple India KoelnerRawlplug IP MungoBefestigungstechnik AG Chemfix Products Ltd. Leviat B.V. Fischer Group
|U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
|China Korea Japan India Australia Singapore Taiwan South East Asia Rest of Asia-Pacific
|Middle East and Africa
|UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
|Brazil Mexico Argentina Chile Colombia Rest of LATAM
|Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports
The global chemical anchors market is bifurcated into product, resin, and application.
Based on the product, the global chemical anchors market is bifurcated into injectable and capsule adhesives.
The injectable adhesive segment dominates the global market and is projected to exhibit a CAGR of 3.6% over the forecast period. Injectable adhesive anchors are the types of chemical anchors that are utilized the most frequently. Applications involving masonry, natural stone, and rebar are suitable for injection chemicals. Compared to the set sizes of capsule systems, their anchorage sizes and lengths are significantly more expansive than those of the latter. An injectable chemical is still the safest solution in certain circumstances, such as when there is water or significant holes. In construction, injection adhesive anchors are used in various applications, including fastening steel dowels, stairs, handrails, building facades, sound barriers, pipelines, brackets, and post-installation rebar connections.
On the other hand, injectable adhesive anchors need a longer curing time than mechanical anchors, and the process takes approximately four times as long. Manufacturers are currently developing new resin formulas that speed up the curing process. Combining these factors is anticipated to spur market growth during the period under consideration.
Based on resin, the global chemical anchors market is segmented into polyester, unsaturated polyester, epoxy acrylate, pure, and hybrid systems.
The epoxy acrylate segment dominates the global market and is predicted to exhibit a CAGR of 3.5% during the forecast period. Epoxy acrylate chemical anchor is a two-part epoxy acrylate resin designed for masonry and concrete use. This particular resin does not contain styrene. It is designed to be a resin with high strength and a quick drying time that can be used as a fastening anchor for very high loads and crucial fixings, particularly in corrosive or damp environments. It is ideal for large loads, rapid curing, and high-performance loads. It has a limited odor, as it is based on a technique that does not involve styrene vinyl ester and has a high level of reactivity.
It possesses exceptional chemical resistance in environments that are either very hostile or very humid, and it is even suitable for use in applications such as underwater anchors. Additionally, it is utilized for fastening purposes in the solid or hollow structural supports of buildings, including walls, columns, facades, and floors.
Based on application, the global chemical anchors market is bifurcated into residential, commercial, infrastructure, and industrial.
The infrastructure segment owns the highest market share and is predicted to exhibit a CAGR of 4.5% over the forecast period. Any country's economic growth needs up-to-date infrastructure in good working order. Infrastructure is essential to people and businesses worldwide, whether it be the roadways and railways transporting people and commodities, the power plants and communication networks supporting industrial and household activities, or the fundamental human requirements for clean water and sanitation.
The Bharat Mala Pari Yojana initiative of the Government of India is a road and highway project to develop 50 new national corridors connecting 550 districts. The Government of India supports this program. In addition to that, this will incorporate connectivity to the ports and coasts. Building a significant number of flyovers and bridges is required for this project. The chemical anchoring industry gains a great deal from completing projects of this nature.