Epoxy Grout Market Research Report: By Application (Residential, Commercial, Industrial) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) – Forecast to 2030

Epoxy Grout Market Synopsis

Epoxy Grout Market is estimated to record a CAGR of 7% and cross USD 930 million by 2030. Epoxy grout held approximately 23% share of the grout market in 2018.

Epoxy grout is made of two components, i.e., epoxy resin and a filler powder. It is most commonly used to fill cracks on any surface or joints such as ceramic tiles, vitrified tiles and stone joints. Epoxy grout is extremely durable, stain proof, waterproof, and chemical resistant. Moreover, epoxy grout is highly preferred for flooring in hospitals, swimming pools, kitchen, and bathrooms. Epoxy grout plays a role in industrial facilities, particularly chemicals and food processing plants such as breweries, dairies, bottling plants, textile, and metal finishing owing to its high resistance to acidic and alkaline products, as well as grease and solvents. Some of the trade names for epoxy grouts are MasterFlow, Sikadur, EASYPOXY AG, SPECTRALOCK, KERAPOXY, and CEG.

The growth of the global epoxy grout market is primarily driven by the growing residential construction sector in developed as well as developing countries. The global construction industry was valued at USD 8.5 trillion in 2018 and is projected to register a CAGR of about 4% during the forecast period. China, India, and the US hold more than half of the share of the construction industry. Moreover, the growing population, rapid industrialization, and urbanization in the developing countries such as China, India, Brazil, Malaysia, Philippines, and South Africa are expected to drive the growth of the global epoxy grout market during the forecast period.

Though epoxy grout offers several advantages over epoxy resin, it is expensive as compared to the traditional cement-based grout. These factors are expected to hamper the growth of the global epoxy grout market.

Key Players

• Arkema (France)


• BASF SE (Gemany)–MasterFlow


• Custom Building Products (US)–CEG-Lite, CEG-IG


• Sika Group (Switzerland)–Sikadur


• Five Star Products, Inc (US)


• Building Adhesives Limited (UK)–EASYPOXY AG, Floor Epoxy


• ITW Engineered Polymers (US)


• Asian Paints Limited (India)


• Fabro India Industries (India)


• LATICRETE International, Inc (US)–SPECTRALOCK PRO Grout


• Flextile Ltd (Canada)


• Rust-Oleum (US)


• MAPEI S.p.A (Italy)–KERAPOXY

Pricing Analysis and Regulatory Framework:

In 2018, the global average price for epoxy grout ranged from around USD 2,700–3,900 per tons. The price of the epoxy grout fluctuated between 2014 and 2018, this can be primarily attributed to volatile raw material prices such as epoxy resins and other filler materials. Furthermore, volatility in crude oil price is also expected to have a significant impact on the price of the product.

The international standards for grout for ceramic tiles and natural stone must comply with ISO 13007-3. In the UK, the epoxy grout comply with British Standard BS 5980:1980, i.e., “Specification for adhesives for use with ceramic tiles and mosaics” for resistance to mold growth and conforms to BS 5385: Part 4: 1992, section 9, for use in sterile conditions. In the US, the epoxy grout is regulated by the Occupational Safety and Health Administration (OSHA) and must comply with OSHA Part 1910.

Market Drivers

• Increasing residential construction activities, particularly in the US, China, and India


• Socio-economic trends such as economic growth, increasing disposable income, changing lifestyle, urbanization, and population growth


• Increasing investments in the healthcare industry with growing awareness

Market Restraints

• High cost and availability of close substitute

Segmentation

By Application

• Residential: Residential segment is expected to be the largest and the fastest growing segment, which accounted for more than 42% of the global epoxy grout market in 2018. The high growth of the segment is attributed to rapid urbanization, increasing population, and changing lifestyles coupled with increasing disposable income. In residential construction, epoxy grout is used in flooring and wall installations across kitchens, bathrooms, and swimming pools.

• Commercial: Some of the key applications of epoxy grout under the commercial segment include hospitals, restaurants, and other facilities, where clinical sanitation is maintained. The increasing commercial construction activities are projected to fuel the demand for epoxy grout.

• Industrial: Rapid industrialization in emerging countries and increasing investments in the production of renewable energy, especially wind energy, is expected to boost the growth of the segment.

By Region

• North America


• Europe


• Asia-Pacific


• Latin America


• Middle East & Africa

Regional Analysis

• North America: The region is expected to significant growth during the forecast period primarily due to increasing residential and commercial construction activities in the US. In 2018, the total construction spending was valued at USD 15.6 trillion witnessing a growth of 6% from 2017. Of the total spending, the residential construction segment accounted for 43% market share in 2018 and witnessed a growth of 7% as compared with 2017.

• Europe: Lead by Germany, the UK, France, and Russia, the European epoxy grout market is expected to register considerable growth during the review period. In addition, increasing investment in reconstruction and refurbishment activities is likely to propel the growth of the epoxy resin market in the region.

• Asia-Pacific: The regional market accounted for the largest share of about 38% in 2018 and is projected to register the highest CAGR of ~9% during the review period. The high demand for the product in the region can be primarily attributed to increasing investments in the residential and commercial construction sectors in countries such as China, India, and Indonesia. The construction industry in China was valued at USD 2.5 Trillion in 2018 dominating the Asia-Pacific construction industry with more than 50% share. China is expected to maintain its dominance during the forecast period attributed to robust economic growth and urbanization. The construction industry in India is expected to grow at almost twice as fast as China driven by increased government investment in infrastructure development and policies such as “Smart Cities” and changing lifestyles.

• Latin America: With steady economic growth in the key Latin America countries such as Brazil, Argentina, Mexico, Chile, and Peru driven by increasing investments in the mining and industrial sectors is expected to boost the growth of the market in the region.

• Middle East & Africa: The expanding construction industry in GCC, Turkey, Iran, and South Africa coupled with increasing investments in the oil & gas industry in the region is expected to fuel the growth of the epoxy grout market during the forecast period.