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Global Chemical Anchors Market Insight2022-02-08 Comments
The Chemical Anchors is forecast to crazy increase over the next few years. According to the WK-chem Research “Global Chemical Anchors Professional Survey Report 2022, Forecast to 2027”, The increased demand for chemical anchors in the construction industry can be attributed to their superior performance over mechanical anchors. Global demand for chemical anchors is expected to increase as infrastructure spending grows. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 4.32% base on WK-chem Research regression analysis model.
The main factors currently affecting production are the availability of raw materials, distribution networks and favorable geographical locations. In a post-pandemic situation, it is imperative that manufacturers seek to diversify their supply chains, focusing on sourcing raw materials from multiple locations. This will create opportunities for a large number of manufacturers looking to form long-term partnerships, said Amy, Senior analyst, Chemical & Material Market Research Center in WK-chem Research. The use of the Internet of Things (IoT) enables companies to leverage data in industrial settings, IoT-enabled smart fasteners that can identify and record installed anchors, screws, and bolts, and future IoT-enabled fasteners will be the market shines brightly.
Due to its substantial properties such as an ability to drill down in imperfect holes, protection of fixing against corrosion, operation in unlimited specified depths, and suitability against all substrates are the key factors driving the demand for chemical anchors. Expanding infrastructural, industrial, commercial & residential construction sectors are providing numerous growth opportunities in the chemical anchor market space. Innovation in technologies required for the synthesis of chemical anchor resins has led to increased efficiency of production processes, leading to significant productivity as well as increased efficacy in chemical anchors resins. Also, numerous manufacturers of chemical anchors present in the value chain are strengthening their R&D infrastructure to invent new production technologies. This, in turn, is fueling the growth of the global chemical anchors market. However, low awareness amongst the end users for the usage of chemical anchors & excessive time consumed for the installation of chemical anchoring system is some of the adoption barriers in the market.
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Chemical Anchors companies that 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, EJOT, Ripple India, KoelnerRawlplug IP, MungoBefestigungstechnik AG, Chemfix Products Ltd., Leviat B.V., Fischer Group.
Segmentation of Chemical Anchors Market:
According to the product type chemical anchors industry can be divided into injectable adhesive, capsule adhesive. Injectable adhesive anchors. They are the most often used chemical anchors. Injection chemicals are widely used during masonry, natural stone, and rebar applications. They are commonly used to fix steel dowels, staircases, handrails, building facades, sound barriers, pipes, brackets, and post-installation rebar connections. Furthermore, injectable adhesive anchors require four times longer curing time than mechanical anchors. However, manufacturers are working on new resin formulations that will reduce curing time, making it a favorable option across applications and external conditions.
Capsule adhesive anchors are used on a concrete surface and find application in industrial and commercial construction. These are primarily used in anchoring steel structures, cranes, elevators, and industrial machinery. Post-pandemic growth in industrial and commercial output is encouraging companies to expand their manufacturing capacity, thereby providing ample growth opportunities for capsule adhesive anchors.
Chemical anchors are widely used in residential, commercial, infrastructure, industrial. The infrastructure segment accounted for the largest share and is expected to witness the fastest growth over the forecast period. Chemical anchors are primarily used in this segment due to the need for robust and superior-performing products. Further, the cost factor over mechanical anchors impacts impacts this sector the least owing to the scale of application.
The residential and commercial sectors collectively accounted for a significant revenue share in 2021. The rise in construction spending in emerging economies is expected to be the major driver for the market. The governments across these countries have made large investments in public infrastructures, such as offices, hospitals, and housing societies.
Chemical Anchors Market: Regional Analysis
In terms of geography, the global Chemical Anchors market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. Europe dominated the market and is expected to witness significant growth over the forecast period. The growth of the regional market is attributed to the economic recovery post-COVID-19 lockdown, which was lifted with construction activities in the residential and infrastructural sectors expected to bounce back in 2021. Countries such as the U.K., France, and Italy that were severely hit by the pandemic are expected to make a rebound, where demand for chemical anchors is likely to remain strong.
Asia Pacific region is one of the fastest growing in the chemical anchors marketplace, increase in industrial, commercial development in countries like China, India & ASEAN are creating the demand space for chemical anchors. New infrastructural projects in the pipeline are expected to create the huge demand for chemical anchors in the near future. Latin American countries show significant growth in the recent past in the construction sector, specifically in the construction of residential building, thus creating opportunities for chemical anchors. MEA & EE are turning over as a low volume high growth region.
Largest share area：Europe
Largest share country：UK
Product Type：Injectable Adhesive, Capsule Adhesive
Application：Residential, Commercial, Infrastructure, Industrial
Leading Company：Sika AG, Henkel AG & Company, Hilti Group, Illinois Tool Works Inc., Power Fasteners