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

Report Overview

The global chemical anchors market size was valued at USD 870.8 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.1% from 2020 to 2028. The market growth is attributed to the rising demand for the product in the construction industry owing to its superior performance as compared to mechanical anchors. The market growth was dampened in the H1 of 2020 due to the global outbreak of the COVID-19, which lead to the temporary closure of construction projects and other industrial activities across several countries. However, the restart of projects in the second half of 2020 with stricter restrictions and social distancing, as part of the unlock programs by governments, is expected to stabilize the growth of the construction industry.

The demand for chemical anchors in the U.S. is expected to increase on account of the growing investments in the infrastructure sector. According to the American Society of Civil Engineers (ASCE), out of 617,000 bridges, 231,000 bridges need repair and preservation, which is expected to increase the demand for the product over the projected period.

The major raw materials used for the manufacturing of chemical anchors include epoxy acrylate, polyester, hybrid mortar, vinyl ester, and epoxy. Furthermore, the choice of chemical anchor depends on various factors, such as performance requirement, consumer preference, and installation environment.

The product pricing largely depends upon the aggregate volume of raw materials produced and minimum lot sizes. Further, resource availability, governmental policy for procurement of chemicals, and volatile transportation costs due to crude oil price fluctuations influence the raw material prices.

Chemical anchors are being used in a majority of steel constructions, column bases, and scaffold anchoring owing to their superior characteristics compared to their counterparts. However, low awareness levels among contractors, particularly in the emerging economies, regarding the use of the appropriate construction chemicals for structures are restricting the market growth.

Product Insights

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. They are commonly used to fix steel dowels, staircases, handrails, building facades, sound barriers, pipes, brackets, and post-installation rebar connections.

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. Post-pandemic growth in industrial and commercial output is encouraging companies to expand their manufacturing capacity, thereby providing ample growth opportunities for capsule adhesive anchors.

Resin Insights

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. These anchors are used across structural applications and rebar connections where high load-bearing capacity needs to be met.

Furthermore, it is ideal for strong load applications since the resulting bond is high in strength than the base material itself and the system is centered on the adhesion principle, which results in no additional load stress being imparted to the base material. Thus, it is also ideal for the reduced center, close to edge fixing, group anchoring, and low compressive strength concrete.

Application Insights

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. Further, the cost factor over mechanical anchors impacts this sector the least owing to the scale of application.

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. These factors have a major impact on the growth of the construction industry, including residential and commercial, resulting in an increasing demand for chemical anchors.

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. As a result, to accommodate the growing number of migrants in metropolitan regions, the number of residential building constructions is also increasing, resulting in the need for chemical anchors.

Regional Insights

Europe dominated the market with a share of more than 30.0% in 2020 and is expected to witness significant growth over the forecast period. The growth of the regional market is attributed to the economic recovery post-COVID-19 lockdown, which was lifted with construction activities in the residential and infrastructural sectors expected to bounce back in 2021.

Countries such as the U.K., France, and Italy that were severely hit by the pandemic are expected to make a rebound, where demand for chemical anchors is likely to remain strong. In the U.K., according to the Construction Products Association, the construction output is forecast to rise by 12.9% in 2021 and 5.2% in 2022, which is expected to promote product demand.

Chemical anchors have gained prominence in North America over the past few years, especially in commercial and infrastructural activities. Increasing awareness of chemical anchors and the growing infrastructure investment in the area are anticipated to boost the market growth during the forecast period.

The construction industry in Canada is expected to witness growth primarily due to the expanding population, rising urbanization, and increased immigration rate. An increase in the number of service-providing firms in the country is expected to fuel the demand for office spaces, driving commercial construction.

Key Companies & 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. With this acquisition, EJOT aimed to expand its building fasteners product portfolio and strengthen its presence in the Finland market.

Quality is a key factor for consumers, thus the manufacturers are focusing on quality certification to gain consumer confidence. For instance, MungoBefestigungstechnik AG has quality certification of Swiss Safety Center AG and ISO 9001:2015. Chemfix Products Ltd. has various quality certifications such as ISO-9001, ISO-14001, ITB, SOCOTEC, WQA, and ETA. 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

Chemical Anchors Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global chemical anchors market report on the basis of product, resin, application, and region:

• Product Outlook (Revenue, USD Million, 2017 - 2028)

  • Injectable Adhesive

  • Capsule Adhesive

• Resin Outlook (Revenue, USD Million, 2017 - 2028)

  • Polyester

  • Unsaturated Polyester

  • Epoxy Acrylate

  • Pure Epoxy

  • Hybrid Systems

• Application Outlook (Revenue, USD Million, 2017 - 2028)

  • Residential

  • Commercial

  • Infrastructure

  • Industrial

• 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