Chemical Anchor Market Expected to Reach $1.9 Billion by 2032

According to a new report published by Allied Market Research, titled, “Chemical Anchor Market," The chemical anchor market was valued at $1.2 billion in 2022, and is estimated to reach $1.9 billion by 2032, growing at a CAGR of 5.3% from 2023 to 2032.

Chemical anchor is a construction adhesive designed for anchoring heavy loads in materials like concrete. Consisting of resin and hardener components, they form a robust bond through a chemical reaction. Widely used in applications like structural support and fastening steel elements, chemical anchors offer versatility and durability. Their chemical curing process ensures a reliable bond resistant to environmental conditions, making them suitable for indoor and outdoor use. Preferred in construction for superior load-bearing capabilities compared to traditional fasteners, chemical anchors contribute to enhanced structural integrity, providing stability and safety in diverse building projects.

The global trend of rapid urbanization has led to an increased demand for infrastructure development. For instance, according to a report published by the National Investment Promotion and Facilitation Agency in 2022, the construction industry in India is expected to grow by $1.4 trillion by 2025. Construction activities, such as the development of residential buildings, commercial complexes, and infrastructure projects like bridges and highways, require reliable and robust anchoring solutions. Chemical anchors, with their high load-bearing capacity and versatility, have become indispensable in modern construction practices, driving the growth of the market.

Furthermore, the enforcement of stringent building codes and safety standards by regulatory authorities across the globe is a significant driver for the chemical anchors market. For instance, the International Code Council (ICC) has issued International Building Code (IBC) that promotes the use of safe and sustainable building materials for construction both residential and commercial buildings. As governments and industry stakeholders prioritize safety in construction, the use of high-performance anchoring solutions becomes imperative. Chemical anchors, known for their strength and durability, help in adhering to these standards, fostering their widespread adoption.

In addition, technological advancements in construction materials and techniques have propelled the growth of the chemical anchors market. Innovations in formulations, curing times, and application methods have enhanced the performance of chemical anchors, making them more efficient and reliable. Contractors and builders are increasingly adopting these advanced solutions to streamline construction processes and ensure long-lasting structures.

However, regulatory compliance is a significant restraint of the chemical anchors market. Governments and regulatory bodies around the world are increasingly imposing stricter standards on construction materials to ensure safety, quality, and environmental responsibility. Meeting these standards can be challenging for manufacturers, as they may need to invest in research and development to create compliant products. For instance, the Occupational Safety Health and Administration (OSHA), regulates the aspects related to the handling, storage, and use of chemical anchors. This includes providing proper safety information, protective measures, and training for workers involved in installation. In addition, compliance with regulations often involves thorough testing and certification processes, which can be time-consuming and costly. Non-compliance can result in legal consequences and damage to a company's reputation, further emphasizing the importance of navigating the regulatory landscape.

On the contrary, the industrial sector is a potential area where chemical anchors are finding increased applications. From securing heavy machinery to anchoring safety equipment, chemical anchors provide a reliable solution in industrial settings. As industries focus on operational safety and efficiency, the demand for high-performance anchoring solutions is on the rise.

The global chemical anchors market is segmented on the basis of product type, resin type, end-user industry, and region. By product type, the market is segregated into injectable and capsule. Injectable chemical anchors offer high load-bearing capacity, making them suitable for applications where a strong and reliable bond is essential. This property is particularly important in structural and safety-critical installations. Moreover, unlike traditional mechanical anchors, injectable chemical anchors do not generate vibrations or noise during installation. This is advantageous in projects where minimizing disruption to the surrounding environment or nearby structures is a consideration..

By resin type, the market is classified into epoxy, vinyl ester, methyl methacrylate (MMA), polyester, hybrid, and others. The epoxy segment accounted for the highest share in the global chemical anchors market, as epoxy chemical anchors often have fast-curing properties, allowing for quick installation and reducing downtime during construction projects. This is particularly advantageous in scenarios where efficiency and rapid project completion are priorities. Furthermore, the overall growth in construction, infrastructure development, and increase in industrial projects globally are driving the demand for reliable anchoring solutions. In addition, epoxy chemical anchors, with their superior performance characteristics, are well-suited to meet the requirements of these diverse and expanding projects.

By end-user industry, the market is divided into building and construction, oil & gas, marine, telecommunications, automotive, and others. The construction end-user industry segment dominated the global market, in terms of revenue in 2022. Ongoing R&D activities in anchor formulations contribute to innovations, resulting in improved performance characteristics. These innovations make chemical anchors more effective, reliable, and suitable for a broader range of applications. Moreover, chemical anchors are easy to use, with straightforward installation procedures. This ease of use makes them accessible to a wide range of construction professionals, from skilled contractors to DIY enthusiasts..

Region wise, the chemical anchors market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific chemical anchors market size is projected to grow at the highest CAGR during the forecast period, and accounted for a major market share in 2022.  The implementation of stringent building codes and regulations by governments across Asia-Pacific has propelled the demand for high-performance construction materials. Chemical anchors comply with these regulations by providing enhanced structural integrity, seismic resistance, and durability, thereby contributing to their increasing adoption in construction projects.

In addition, ongoing R&D activities in the field of construction materials have led to technological advancements and product innovations in chemical anchors. Manufacturers are introducing new formulations with improved features such as faster curing times, increased load-bearing capacity, and enhanced chemical resistance. These innovations attract end users and contribute to the overall market growth.

Furthermore, there is a growing emphasis on sustainable construction practices in Asia-Pacific, driven by environmental concerns and regulatory requirements. Chemical anchors that offer long-lasting performance, reduce material waste, and have a lower environmental impact are gaining popularity. Thus, the shift toward sustainability is a significant factor propelling the market growth.

The key players operating in the global chemical anchors market include Hilti, Sika AG, 3M, ITW Red Head, Fischer Group, Stanley Black & Decker, BASF SE, Fosroc, Henkel AG & Co. KGaA, and Anchoring Systems Inc.    

Other key players involved in the manufacturing of chemical anchors includes MKT Fastening, Power Fasteners, Illinois Tool Works Inc., EJOT, Chemifix Products Ltd., Fixfast, Ripple India, and Leviat B.V.

Key Findings of the Study

• By product type, the injected segment is the most lucrative segment.
• By resin type, the epoxy segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 6.0% from 2023 to 2032.
• By end-user industry, the construction garnered the highest share in the global chemical anchors market from 2023 to 2032.
• By region, North America garnered the highest share 2022, in terms of revenue, growing at a CAGR of 4.9%.