Chemical Anchors Industry Overview
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.
Chemical Anchors Market Segmentation
Grand View Research has segmented the global chemical anchors market on the basis of product, resin, application, and region:
Based on the Product Insights, the market is segmented into Injectable Adhesive, Capsule Adhesive.
- Injectable adhesive anchors accounted for the largest share of over 70.0% of the global revenue in 2020. They are the most often used chemical anchors. Injection chemicals are widely used during masonry, natural stone, and rebar applications.
- Furthermore, injectable adhesive anchors require four times longer curing time than mechanical anchors. However, manufacturers are working on new resin formulations that will reduce curing time, making it a favorable option across applications and external conditions.
- Capsule adhesive anchors are used on a concrete surface and find application in industrial and commercial construction. These are primarily used in anchoring steel structures, cranes, elevators, and industrial machinery.
Based on the Resin Insights, the market is segmented into Polyester, Unsaturated Polyester, Epoxy Acrylate, Pure Epoxy, Hybrid Systems.
- Epoxy acrylate accounted for the largest share of over 35.0% in 2020. Key characteristics of the resin including high strength, fast curing, ideal for high load applications, and resistance to corrosive or moist conditions promote its use across the construction sector.
- Polyester is expected to register a CAGR of 3.9% over the forecast period owing to it being a popular injection anchoring technology. This resin is popular for use in light to medium loads and can be used across concrete, solid, and hollow masonry surfaces.
- Pure-epoxy chemical anchors are a two-part pure epoxy bonded anchoring system with a 1:1 ratio under normal and seismic conditions for use in cracked and uncracked concrete.
Based on the Application Insights, the market is segmented into Residential, Commercial, Infrastructure, Industrial.
- The infrastructure segment accounted for the largest share of over 35.0% in 2020 and is expected to witness the fastest growth over the forecast period. Chemical anchors are primarily used in this segment due to the need for robust and superior-performing products.
- The residential and commercial sectors collectively accounted for a significant revenue share in 2020. The rise in construction spending in emerging economies is expected to be the major driver for the market. The governments across these countries have made large investments in public infrastructures, such as offices, hospitals, and housing societies.
- The emergence of various countries as upcoming manufacturing hubs can be attributed to the establishment of numerous industries and a large population migrating close to these facilities, resulting in the development of new cities and the expansion of existing cities.
- The growing global population and migration have boosted the overall construction of residential buildings. The International Migrant Stock 2019, a UN statistic, estimates that the number of international migrants reached roughly 272 million, or 3.5% of the global population.
Chemical Anchors Regional Outlook
- North America
- Europe
- Asia Pacific
- Central South America
- Middle East Africa (MEA)
Key Companies Profile Market Share Insights
Manufacturers of chemical anchors are focusing on acquisition to expand the product portfolio and geographical presence. For instance, in January 2017, EJOT announced the acquisition of Sormat, a Finland-based manufacturer of fastening and anchoring technology.
Some prominent players in the global chemical anchors market include
- 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.
- Fischer Group
Order a free sample PDF of the Chemical Anchors Market Intelligence Study, published by Grand View Research.
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.
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