Global Tile Grout Market - Overview
The global Tile Grout Market is growing at a rapid pace, mainly due to the rising consumer preference to include Tile Grout design in constructions. Tile Grout is used in the building exterior to offer extra protection against exposure to the elements, prevent heat loss, and visually unify the facade. Besides, Tile Grout improves the durability and aesthetic properties of constructions, making it an irreplaceable modern construction element.
The burgeoning construction industry is a major driving force allowing its market to increase vigorously.
Market Research Future (MRFR) claims that the tile grout market 2020 had touched 1.2 billion in 2018. MRFR anticipates favorable prospects for the market as it is on track to procure a CAGR of 5.2% between 2021 and 2030 (evaluation period). We will provide COVID-19 impact analysis with the report, offering detailed market developments following the coronavirus disease outbreak. Improving standard of living fuels the demand for home Tile Grout, leading to better interior decoration and aesthetic preference. Conversely, the price volatility and demand-supply gap of raw materials required for production are major factors impeding the Tile Grout Market growth.
Global Tile Grout Market – Prominent Players
Compagnie de saint- gobain S.A,West lake chemical,Louisiana pacific corporation,Etex group,SHERA,Nichiha corporation,Boral limited,James Hardie Industries PLC,Cornerstone building brands,Docke extrusion Corporation limited,King span group are global Tile Grout Market key players are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Tile Grout Market.
Growth Enhancers and Top Barriers
In the construction industry, tiling has become quite integral, especially given the increasing commercial and residential construction activities across the world. Tiling has significant applications in residential as well as commercial infrastructure such as hotels, hospitals. Tiling and therefore tiling grouts have become extremely prevalent across transportation infrastructure like railway stations and airports. Tiles along with rugs and carpets, laminates and wood has become a highly essential component in the construction industry worldwide, which can mean favorable growth prospects for the tile grout market.
The escalating number of residential projects, in light of the expanding global population along with the rapidly expanding hospitality and tourism industry present lucrative opportunities to the renowned market firms around the world. Numerous emerging economies such as India and China are focusing extensively on catering to the rising employment demand as well as the accelerated demand for more affordable homes, as urbanization rate is soaring every year. In a nutshell, the promising boost in the number of housing construction projects can lead the tile grout market to greater heights between 2019 and 2025.
It is anticipated that out of all the types of tile grouts, epoxy grout has gained maximum impetus in the worldwide adhesive tile grout. This trend will remain prevalent throughout the evaluation period, as epoxy tile grounds are known for their superior strength as well as high chemical resistance, rendering it highly versatile and ideal for a number of special applications. Moreover, as in the case of other types of grouts that require frequent cleaning, the epoxy resins’ non-porous property prevents collection of grime, moisture or dirt, which is another property that adds to its appeal among the end-users. Although epoxy tile grout can be quite challenging in terms of installation, it still remains ahead of other segments due to extended longevity with better cleaning techniques.
Tile Grout Market - Segments:
The global grout tile industry has been segmented based on type and application.
The types of tile grout can be finely sanded grout, unsanded grout, epoxy grout and quarry-type grout. As mentioned above, the highest growth was observed by the epoxy grout segment in 2018, and is also expected to procure the fastest expansion rate owing to its various applications along with benefits including high durability and strength.
Depending on the application, the market segments considered in the study are commercial, industrial and residential. Since 2018, the leading segment has been residential, while it is also projected to record the highest growth rate in the coming years. The high prominence of the residential segment in the tile grout market can be due to the fast expanding worldwide population, increasing government spending on housing projects and the resultant surge in the number of home owners, rising urbanization rate and the rapidly growing economic status of emerging regions. All these factors have led to a high need for tile grout across the residential sector across the globe.
Tile Grout Market - Regional Analysis:
The tile grout market growth is expected to be apparent across a few primary regions, namely Europe, South America, APAC/Asia Pacific, MEA/the Middle East Africa as well as North America.
Since the year 2018, the APAC has remained the biggest gainer in the global market, with North America and Europe right behind. The growing construction sector in APAC along with the extensive presence of renowned manufacturers across China and India has resulted in a positive market outlook for tile grouts. Renowned firms are presented with lucrative opportunities as the region is observing a surge in commercial building construction, including offices and business complexes in light of the rising number of corporates. This can mean more success for the tile grout market in the region. The fast urbanization rate in India, China, and various emerging countries in the region also contributes to the market attractiveness.
Industry/ Innovation/ Related News:
Aug. 12, 2020 ---- Kaycan (North America), a leading manufacturer of vinyl, aluminum, and engineered wood Tile Grout and accessories, announced its vinyl Tile Grout recycling initiative in Alberta to reduce unnecessary waste in our landfills. The GreenSENSE R3V program signifies Kaycan’s strong commitment to recycling the damaged vinyl Tile Grout from the affected homes.
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