As the chemical industry moves into 2022, strong demand for both commodity and specialty chemicals should keep prices robust throughout the year. However, the industry could face margin pressures amid raw material cost inflation, which will likely remain high through the first half of 2022.
The global sanded grout market size is projected to undergo substantial growth as a result of the rising demand for novel materials in the residential sector. Fortune Business Insights™ offers this information in an upcoming report, titled, “Sanded Grout Market, 2021-2028”.
Sanded grout is a cement-based polymer and a high-density fluid consisting of fine sand, employed in the reinforcement of structures. The utilization of this innovative material in interior flooring applications due to its durability and stability is increasing. Moreover, the material is cost-effective when compared to its unsanded counterpart. These factors, along with the material’s other advantages, are aiding the expansion of the market.
The COVID-19 pandemic has drastically affected different industries and markets across the globe. The market landscape has transformed, and disruptions in operations and supply chain networks can be witnessed as companies struggle to maintain a strong foothold in the market. With countries’ experiencing lockdowns and the rollout of vaccines remaining staggered, the slowdown of economies is inescapable. In addition, the contraction in the construction industry will also gravely impede the sanded grout market growth in 2021.
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By type, the market is segmented into finely sanded grout and quarry grout. On the basis of application, the market is classified into ceramic tiles, cement tiles, porcelain tiles, slates, pavers, quarry tiles, glass tiles, and others. Based on end-use, the market is divided into residential buildings and commercial buildings. Geographically, the market is segregated into North America, Asia Pacific, Latin America, and the Middle East & Africa.
What Does the Report Offer?
Our skilled research analysts have developed this report using data triangulation for the growth prediction of this market. The report offers an extensive analysis of the current and emerging market trends and opportunities, as well as provides a detailed qualitative and quantitative study of the market. The information is gathered through interviews with multiple stakeholders and highlights the recent industry developments. The report incorporates the use of Porter’s Five Forces Analysis and also gives valuable insights into the regulatory scenarios of the market.
Drivers & Restraints
Numerous Benefits of Sanded Grout in Interiors to Support Market Expansion
Sanded grout has observed an increasing demand for enhancing the interiors in residential and commercial buildings due to its ability to reinforce structures. This material is durable and stable, allowing it to stand up to the pressure of foot traffic. Being cost-effective, this grout type is a better and preferred choice than conventional grout. Additionally, it is resistant to shrinking, cracking, tear, wear, and also possesses better endurance to externalities, such as humidity and high temperatures. Advantages such as these are expected to fuel the market expansion during the forecast period.
However, certain substrates, such as asbestos, cannot facilitate the utilization of sanded grout. This factor limits the utilization of this material in various applications, acting as a restraint to the market’s growth.
Key Players Focus on New Product Launches to Satisfy Unmet Consumer Needs
The global players involved in the market are engaged in a cutthroat competition to survive in the COVID-19 period. Key players are devising and adopting new strategies to strengthen their position in the market. One such strategy implemented by companies is the launch of inventive products to meet the evolving consumer needs in the construction industry. This strategy is also enabling competitors to diversify their portfolios and widen their business prospects.
Asia Pacific to Dominate the Global Market with the Highest Growth Share
Countries such as India and China are evolving with rapid urbanization and infrastructural growth. The rising demand for ceramic and cement tiles in residential buildings is fueling the market growth in the Asia Pacific and the region is expected to maintain its leading position in the sanded grout market share in the forthcoming years.
The market in Europe, on the other hand, is expected to benefit from the rapidly growing number of commercial buildings. North America is expected to experience steep market growth owing to the rising adoption of advanced products in pavers and glass tiles.
March 2021: ARDEX Americas introduced a refreshed selection of grout colors and a grout selector tool. This new release aims to assist contractors and homeowners in selecting the most viable grout color according to the nature of the installation.
List of Key Players Covered in the Sanded Grout Market Report
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