Global Tile Grout Market - 2020-2027
|出版日期||內容資訊||英文 180 Pages
|瓷磚灌漿的全球市場(2020年∼2027年) Global Tile Grout Market - 2020-2027|
|出版日期: 2021年05月10日||內容資訊: 英文 180 Pages||
Tile grout is a fluid form of concrete used to fill gaps. Grout is a mixture of water, cement, and sand for pressure grouting, embedding rebar in masonry walls, connecting sections of precast concrete, filling voids, and sealing joints between tiles. Tile grout is sometimes mixed with fine gravel for filling significant gaps such as the cores of concrete blocks. The global Tile Grout market has witnessed considerable growth over the recent past. The market is expected to witness a significant change in the forecasting period due to the high demand for decorative tiles and increasing construction activities. Moreover, the surge in the number of residential construction projects has supplemented the market growth.
The global tile grout market size was worth US$ XX billion in 2019 and further predicted to reach US$ XX billion by 2027, at a CAGR of XX% during the forecast period (2020-2027).
The growth in residential and commercial construction activities is expected to propel the market growth. Furthermore, the global tile grout and adhesives market has witnessed significant growth over the past few years. However, a lack of awareness regarding grout tile in developing economies is expected to hamper market growth. Nevertheless, a spiraling number of restaurants, quick-service restaurants, and fast food joints is expected to surface lucrative growth opportunities to the market players in the near future.
Expansion of Construction Industry
Tiles, along with rugs and carpets, laminates, and wood, have become a highly essential component in the construction industry worldwide. The increasing commercial and residential construction activities across the world are contributing towards market growth. Tiling has significant applications in residential as well as commercial infrastructure such as hotels, hospitals. Tiling has become extremely prevalent across transportation infrastructures like railway stations and airports. These factors are expected favorable growth prospects for the tile grout market.
Increase in Residential Projects
The escalating number of residential projects, in light of the expanding global population along with the rapidly expanding hospitality and tourism industry, present lucrative opportunities to renowned market firms around the world. Numerous emerging economies such as India and China are focusing extensively on catering to affordable homes, as the urbanization rate is soaring every year. In a nutshell, the increase in the number of housing construction projects can lead the tile grout market growth during the forecast period.
COVID-19 Impact Analysis
COVID-19 pandemic has significantly affected the global economy in several terms, such as directly affecting production and demand, supply chain disruption, and financial impact. COVID-19 has directly impacted the manufacturers' supply chain across the globe and shut down the production facilities to minimize the risk of virus spread. Despite the pandemic, there is growth in the overall chemical & material products and Tile Grout products, which is expected to drive the global market size in the global market during the forecast period.
Based on the type, the Tile Grout market has been classified into epoxy grout, finely sanded grout, quarry type grout, and others.
The epoxy segment dominated the global Tile Grout market in 2019
By type, epoxy grout is expected to gain significant momentum in the global tile grout market during the forecast period. The high growth of epoxy tile grounds is attributed to superior strength as well as high chemical resistance, rendering it highly versatile and ideal for a number of special applications. Although epoxy tile grout can be quite challenging in terms of installation, it still remains ahead of other segments due to extended longevity with better cleaning techniques.
Based on the end user, the Tile Grout market has been classified into residential, commercial, and others.
The residential segment accounted for the highest market share in the global market
The residential sector is considered the fastest growing sector and is projected to capture the majority of market share in the global title grout market. The high demand from the residential segment is attributed to continuously increasing residential construction owling to increase disposable income and increase focus on aesthetic values. Moreover, increasing demand for decorative Tile Grout products in residential projects further drives the residential segment in the global Tile Grout market during the forecast period.
Based on geography, the study analyzes the tile grout market in the global market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
North America leads the global market throughout the forecast period
North America dominates the global tile grout market in terms of value and volume due to the presence of leading manufacturing companies and easy accessibility of premium quality tile grout ingredients based on chemical & material products. The high growth of the market in the region is attributed to the growing demand for decorative and attractive products in the region. In Europe, the growing demand for these types of products due to increasing the construction of new projects further enhances its market position in the global Tile Grout market in the coming years.
The Asia Pacific is estimated to witness the highest growth rate in the global tile grout market during the forecast period. The growth of the region is primarily driven due to the increasing number of the construction project. The global companies are investing in the region to increase the export from the low-cost area, which is further expected to increase the tile grout consumption in the region during the forecast period.
The tile grout market is highly competitive, owing to the presence of big brands. The key tile grout players which are contributing to the growth of the global market include Miracle Sealants, Bondall, Tech Dry, Davco, Aqua Mix, Mapei, Latricrete international, Dupont, Enduro Shield, Bostik, Ultra Durable Technologies, Selleys, CRAFIT, Langood, Krishna Colours, and among others. The major players are adopting new product launch and expansion strategies for global growth in the Tile Grout market.
Overview: Miracle Sealant is engaged in the production and distribution of sealants products. Miracle Sealants Company is one of the world's leading manufacturers of premium quality, professional-grade installation and care products for ceramic/porcelain tile, grout, natural stone, brick, and masonry surfaces. It surpassed the industry standards for more than 34 years. The company subsidiary of the rust-oleum corporation. It has operations in Africa, Asia Pacific, Central, and Eastern Europe, Latin America, Middle East, North America, and Western Europe. Miracle Sealant is headquartered in Ireland, United States.
Product Portfolio: The company's portfolio comprises sealant products, protect, clean, enhance, restore, install, and other services.
The global Tile Grout market report would provide access to an approx. 75 market data table, 71 figures, and 270 pages.
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