The ready-to-use grout and adhesive global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Ready-To-Use Grout And Adhesive Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The ready-to-use grout and adhesive market size has grown strongly in recent years. It will grow from $1.52 billion in 2023 to $1.66 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to a rise in urbanization and population, rising consumer preference for sustainable construction materials, increased demand for tile and natural stone, and a rise in the construction sector.
The ready-to-use grout and adhesive market size is expected to see strong growth in the next few years. It will grow to $2.37 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to rising consumer preference for sustainable construction materials, increasing urbanization, increasing brand endorsement spending to differentiate their products, increasing adoption of epoxy products, and growth in construction and infrastructure development. Major trends in the forecast period include technological innovations, innovations in product development, specialized adhesives for large tiles, digitalization and smart manufacturing, and collaborations and partnerships.
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Scope Of Ready-To-Use Grout And Adhesive Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Ready-To-Use Grout And Adhesive Market Overview
Market Drivers –
The rise in the construction sector is expected to propel the growth of the ready-to-use grout and adhesive market going forward. The construction sector is the industry responsible for building, renovating, and maintaining residential, commercial, and infrastructure projects such as homes, offices, roads, and bridges. The construction sector is expanding due to rapid urbanization, driving demand for new infrastructure, while government investments in large-scale projects further fuel growth. Ready-to-use grout and adhesive products are pre-mixed solutions that offer convenience and efficiency in construction, especially for tiling and flooring projects. They simplify the application process by eliminating the need for on-site mixing, reducing errors, and saving time. For instance, in May 2024, according to a report published by The Office for National Statistics, a UK-based government department, in Quarter 1 2024, total new construction orders rose by 15.9%, amounting to $1,913 million (£1,436 million), compared to Quarter 4 2023. Therefore, the rise in the construction sector is driving the growth of the ready-to-use grout and adhesive market.
Market Trends –
Major companies in the ready-to-use grout and adhesive market focus on developing innovative ready-to-use grout products to enhance performance and meet the growing demand for sustainable and high-quality building materials. Ready-to-use grout refers to a pre-mixed formulation of grout that is packaged and ready for immediate application, eliminating the need for on-site mixing. For instance, in April 2022, Sika AG, a Switzerland-based chemical company, launched its innovative ready-to-use grout, SikaTile-Ultima Grout, designed for interior and exterior applications, including areas prone to intermittent wet conditions. Its ready-to-use formula simplifies the grouting process, reducing the likelihood of errors associated with mixing materials on-site. It also provides a complex, durable, and entire grout joint for professional results. This grout significantly saves time and labor for contractors, allowing for quicker project completion while minimizing maintenance needs and contributing to long-term cost efficiency.
The ready-to-use grout and adhesive market covered in this report is segmented –
1) By Product Type: Grout, Adhesives
2) By Application: Walls, Floors, Countertops, Other Applications
3) By End Use: Residential, Commercial, Industrial
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Regional Insights –
Asia-Pacific was the largest region in the ready-to-use grout and adhesive market in 2023. The regions covered in the ready-to-use grout and adhesive market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the ready-to-use grout and adhesive market are BASF SE, Henkel AG & Co. KGaA, Henry Company, Sika AG, Wacker Chemie AG, Mapei S.p.A., H.B. Fuller Company, Bostik Ltd., Soudal Group, Dunlop Adhesives, Mapei S.p.A., Fosroc Holdings U.K, Tremco Incorporated, LATICRETE International Inc., TEC Specialty Products, Ardex GmbH, W.R. Meadows Inc., Saint-Gobain Weber, RLA Polymers Pty Ltd., Soudal N.V., Sopro Bauchemie GmbH, Kerakoll S.p.A., Raimondi S.p.A., Roberts Consolidated Industries Inc
Table of Contents
1. Executive Summary
2. Ready-To-Use Grout And Adhesive Market Report Structure
3. Ready-To-Use Grout And Adhesive Market Trends And Strategies
4. Ready-To-Use Grout And Adhesive Market – Macro Economic Scenario
5. Ready-To-Use Grout And Adhesive Market Size And Growth
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27. Ready-To-Use Grout And Adhesive Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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