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Epoxy Grout Market Segmented By Industries such as Mining industry, Water conservancy industry, Construction industry with Application such as General, New Construction, Improvements & Repairs of existing construction, Sealant for Industrial Equipment
Epoxy grout is a type of grout (particular fluid) consisting of two components, i.e. epoxy resin and epoxy hardener, which are exclusively formulated in order to achieve a grout with qualities such as waterproof, stain-proof and chemical resistance. Due to these properties, epoxy grout is generally used to fill cracks on any surface or joints between tile units.
Epoxy resin and epoxy hardener are used in epoxy grout in order to provide more bond strength to the tile, which is different from other grout such as cement grout or emulsion grout. The combination of both the elements make epoxy grout harder, stronger, durable and stain-proof.
Epoxy grout are mainly used, where colour uniformity is required, as they are available in different colours. They are also used to protect different equipment (generators, turbines, engines, motors, blowers, etc.), in some industrial processes (stamping, grinding, drawing, crushing, rolling, etc.), and in construction and buildings (decks, roofs, flooring, repairs, roads, bridges, etc.).
Epoxy grout is highly durable, easy to clean, ideal for warehouses, stain resistant, offer glossy appearance, possess long lasting quality and require less maintenance. All these factors make epoxy grout a highly preferred product over others.
The constantly increasing demand from several industries for hygienic, durable and chemicals & bacteria resisting products that offer proper sealing act as the main driver for the growth of epoxy grout market. On the other hand, unfavourable tax law changes, increase in raw material prices, shortage for storage space, higher labour cost and material costs, etc. act as the main restraints for the market.
Also, the long application process and the allergic reactions while application, hampers the growth to an extent. The epoxy grout exhibit colour changing properties when it get exposed to UV rays, and hence it cannot be used on external vertical surfaces such as outside walls and vertical sides of swimming pool.
The growing building and construction industry is expected to augment the global epoxy grout, over the forecast period. Moreover, the governments of various countries are focussing on product innovation and product development including more production of safe products.
Major trends identified across the industry are, strong commitment to sustainability and environment safety management, maintaining the high-quality management, production of more eco-friendly products, review on new upcoming technologies, reformulation and review of existing products.
Trends in the epoxy grout market are, being dictated by the growing significance of safety and environmental regulations, as well as customized technical requirements. The high volume of building alteration and conversion projects nowadays has boosted the importance of efficient solutions for the refurbishment of existing flooring systems, which in turn drives the epoxy grout market growth.
Although, the global epoxy grout market experiences good demand from all over the world, high growth is being witnessed from regions such as Asia Pacific, Eastern Europe, Middle East and Africa, followed by Western Europe.
Asia-Pacific region is the dominant market and holds a market share of half of the global market. The major reason behind the market dominance of APEJ region is the increasing industrialization.
China, India and Indonesia are projected to show higher growth rate than previous years in the epoxy grout market. Latin America and Middle East and Africa regions are expected to be the emerging markets of epoxy grout owing to the rise in consumption of sealants in the construction industry.
Some of the examples of the market participants in the epoxy grout market identified across the value chain include MAPEI Corporation, Sika AG, LATICRETE International, Inc., ITW Engineered Polymers, GCP Applied Technologies Inc., Five Star Products, Inc., Master Builders Solutions and The Euclid Chemical Company, among others.
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