Grouting Materials Market Size

Grouting Materials Market size was over USD 8.44 Billion in 2023 and is set to reach USD 16.93 Billion by the end of 2036, growing at around 5.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of grouting materials is assessed at USD 8.86 Billion. The primary growth factor for the market is attributed to the expansion of construction industry, followed by the radical surge in chemical industry across the globe. For instance, the total worldwide revenue of the chemical industry in 2019 was around USD 3.85 trillion.

The emerging technologies and industrialization is able to speed up the manufacturing process of grouting materials without additional expenses. As grouting materials is a mixture of water, cement, and sand, it is utilized for pressure grouting that enhances the stability without delamination, cracking, or crumbling. Owing to its great advantages, in today’s date grouting materials is being highly used in construction industry. Thus, the recent focus on investing in construction industry for its expansion is expected to bring lucrative opportunities to support the growth of the grouting materials market. A recent data has estimated that by 2030 the global construction industry expenditure is expected to propel to USD 18 trillion.