Grouting Materials Market Trends

Growth Drivers

• Expansion in Manufacturing Industry – Grouting materials radiate in voids for the repair of cracks, strengthening of damaged concrete, and filling gaps in various manufacturing processes. The high advantages of grouting materials are thus expected to increase their usage in the manufacturing industry. Therefore, expansion in the manufacturing industry is further projected to propel the grouting materials market. As per a recent report, it was stated that the revenue gathered by the United States’ manufacturing industry stood up at approximately USD 6 trillion in 2022. 
• Growth in Research and Development Expenditure - The World Bank calculated the global research and development expenditure in proportion to gross domestic product (GDP) to be 2.63% in 2020. This is a considerable increase from 2.2% in 2018.
• Rise in the Chemical Industry – The recent development in India has propelled the Indian chemical industry to grow by a CAGR of 10% with a revenue of USD 300 billion by 2025.
• Rising Support from Various Governments through Various Policies and Schemes - In India, around USD 26 million was allocated by the government to the Department of Chemicals and Petrochemicals under the Union Budget 2022-23.
• Proliferation in Mining and Quarrying Industry - In 2022, the mining and quarrying industry in the United States is estimated to generate the revenue of around USD 14.42 billion.

Challenges

• Availability of Alternative Chemicals – There are several other alternative materials or chemicals available to use in grouting process. Chemicals such as, asphalt or bitumen, acrylamides, acrylates, and sodium silicates are also being used for grouting. Such presence of alternatives is anticipated to hamper the growth of the grouting materials market.
• Increased Costs of Production Process
• Stringent Government Rules