Chemical Anchors Industry 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.
Gather more insights about the market drivers, restrains and growth of the Global Chemical Anchors Market
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.
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Market Share Insights
- 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.
Key Companies profiled:
Some of the 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
- Ripple India
- KoelnerRawlplug IP
- MungoBefestigungstechnik AG
- Chemfix Products Ltd.
- Leviat B.V.
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