Global Epoxy Grout Market: Introduction
- Epoxy grout is a type of sealant that comprises two key components: epoxy resin and filler powder. It is different from conventional cement-based grout or emulsion grout. Epoxy grout is more durable, extremely hard, water proof, chemical resistant, and stain proof.
- Epoxy grout is primarily used to fill tile joints and surface cracks. It contains resin and epoxy hardener, which provides higher bond strength to the tile. The combination of resin and hardener creates stronger epoxy grout with higher durability.
- Epoxy grout is available in a wide range of colors. It is widely used for color uniformity. It also provides protection to different equipment in various industrial processes.
- Epoxy grout is easy to clean, highly durable, suitable for warehouses, offers glossy appearance, and requires less maintenance. Epoxy grout is preferred over conventional grout due to its beneficial properties.
Rise in Construction Activities to Drive Global Epoxy Grout Market
- Increase in urbanization and constant growth in population are driving the global building & construction industry. Expansion in the infrastructure industry is boosting the demand for construction materials such as epoxy grouts.
- Growth in investment in real estate and infrastructure, increase in disposable income, rise in trend of esthetic buildings, and good quality of flooring are driving the global epoxy grout market
- Increase in demand for durable, hygienic, and bacteria & chemical resistant sealant products across various industries is also drives the global epoxy grout market
- Rise in trend of environment-friendly and high-quality products, advancements in technologies, and new product reformulation are boosting the epoxy grout market
- The epoxy grout market is influenced by the rise in environment safety regulations. Leading manufacturers are focusing on the development of customized technical solutions based on the industrial requirements.
- Volatility in raw material prices, long application process, higher labor cost, allergic reactions during application, and unavailability for storage space are the key restraints of the global epoxy grout market
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Resin Product Segment to Witness Lucrative Opportunities
- Based on product, the global epoxy grout market can be segmented into resin, hardener, and aggregate
- The resin segment is anticipated to account for prominent share of the market during the forecast period. It is estimated to be followed by the aggregates segment.
- Growth in the construction and modification of buildings is driving the demand for efficient refurbishment solutions for existing flooring systems. This is driving the global epoxy grout market.
Construction Segment to Offer Lucrative Opportunities
- Based on end-use industry, the global epoxy grout market can be segmented into mining, water conservancy, and construction
- The construction segment is anticipated to constitute prominent share of the market during the forecast period
- Rise in construction activities is anticipated to boost the global epoxy grout during the forecast period. Increase in investment in real estate and infrastructure and growth in disposable income are key factors estimated to boost the market in the near future.
Asia Pacific to Offer Lucrative Opportunities to Epoxy Grout Market
- In terms of region, the global epoxy grout market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is anticipated to dominate the market in the near future. This trend is projected to remain the same during the forecast period. The market in China, India, and Indonesia is estimated to expand at a rapid pace during the forecast period. Rise in industrialization and growth in infrastructure are key factors driving the market in Asia Pacific.
- Latin America and Middle East & Africa are emerging regions of the global epoxy grout market due to the rise in demand for sealants in end-use industries such as construction
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Key Players Operating in Global Market
The global epoxy grout market is fragmented, with the presence of several regional and global manufacturers. Prominent players operating in the market are investing in mergers, acquisitions, expansion, and new product launches in order to maintain their dominant position.
Key players operating in the global epoxy grout market are:
- ITW Engineered Polymers
- GCP Applied Technologies
- Five Star Products
- Master Builders Solutions
- Euclid Chemical
Global Epoxy Grout Market: Research Scope
Global Epoxy Grout Market, by Product
Global Epoxy Grout Market, by End-use Industry
- Water Conservancy
Global Epoxy Grout Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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