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The global premixed grout market is anticipated to witness moderate growth during the forecast period between 2021 and 2031.
A grout is a material that is used to plug the gap between two tiles. The main purpose behind deploying a grout is to increase the visual appeal of a tile.
Other than premixed, some of the other grouts that have been widely deployed include cement-based, single-component, and epoxy.
The outbreak of the COVID-19 pandemic negatively impacted the overall premixed grout market. With governments imposing stringent social distancing regulations and lockdowns, construction activities in leading economies globally came to a halt.
This affected the demand for premixed grouts and adversely affected the growth in the overall market.
But with the reduction in cases and availability of vaccines, construction activities are expected to resume again soon, which could help increase product demand and lead to steady growth in the premixed grout market.
Rising need to repair old buildings in leading economies globally is the key growth driver for the global premixed grout market.
Also, increasing premixed grout demand for the construction of new buildings in different countries worldwide is anticipated to fuel the growth in the overall premixed grout market, in the years ahead.
Advancements to existing products could help increase product demand for different applications, thereby propelling the global premixed grout market.
Other factors such as rising disposable income, particularly in developing economies are expected could fuel the growth in the premixed grout market, in future.
The building and construction end-use industry is anticipated to make the largest contribution to the overall premixed grout market because of increasing demand for premixed grouts to construct new buildings as well as renovate older, dilapidated buildings in major countries, worldwide.
The global premixed grout is highly competitive, with the presence of several well-established market players, many of whom have become successful, owing to years of delivering consistent results.
Many of these players are expected to account for a large share in the overall premixed grout market, in future.
Growth strategies such as novel product launches could help leading premixed grout market players, gain a competitive edge over other players.
Research and development activities to produce an improved quality of products could be a key growth strategy for the prominent premixed grout market players, in the coming years.
Collaboration with smaller players could help leading premixed grout market players expand their market presence and increase their revenue shares.
Some of the leading players in the global premixed grout market include Fuller Construction Products Inc., Bostik Inc., and Custom Building Products Inc.
The global premixed grout market is classified into five regions, namely, North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
Asia Pacific is anticipated to be the dominant region in the global premixed grout market owing to increasing rate of building construction in countries such as India and Japan, contributing to market growth in the region.
Leading market players could establish production units in the coming years in countries such as India, owing to the ease of availability of key resources such as land and labor.
Latin America is anticipated to witness substantial growth in the overall premixed grout market owing to the emergence of many new buildings in countries such as Brazil.
Europe is expected to witness moderate growth in the global premixed grout market, in the years ahead.
Other parts of the world such as North America and Middle East and Africa are projected to witness sluggish growth in the overall premixed grout market, in the coming years, owing to fewer presence of well-established market players in countries belonging to both the regions.
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Premixed Grout Market
