Chemical Anchors Market Worth $1.20 Billion By 2028 | CAGR: 4.1%

Chemical Anchors Market Growth & Trends

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.

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.

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Chemical Anchors Market Report Highlights

• 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

Chemical Anchors Market Segmentation

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.