Tile Grout Market Research Report - Global Forecast 2030

Tile Grout Market Research Report: Information by Type (Unsanded Grout, Finely Sanded Grout, Quarry-type Grout and Epoxy Grout), Application (Residential, Commercial and Industrial) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2030

ID: MRFR/CO/6931-HCR | October 2022 | Region: Global | 110 Pages         

Tile Grout Market

In 2018, the global tile grout market value is registered as USD 2.2 billion and is expected to exhibit the tile grout market size of USD 3.8 billion with a lucrative CAGR of 6.8% during the forecast period 2021-2028.

Segmentation

By Type Unsanded Grout Finely Sanded Grout Quarry Type Grout Epoxy Grout
By Application Residential Commercial Industrial
By Region North America Europe Asia Pacific Middle East & Africa South America

Key Players

  • Bostik USA (US)
  • ParexGroup (Bangkok)
  • Sika AG(Switzerland)
  • Craft (India)
  • MAPEI S.P.A (Italy)
  • LATICRETE International Inc (US)
  • FLEXTILE LTD. (Canada)
  • Krishna Colours and Constchem PVT LTD (India)
  • Building Adhesives Ltd (UK)
  • ARDEX UK (UK)

Drivers

  • Increase the demand for tile grout
  • The demand for employment
  • Affordable homes owing
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Market Overview


In 2018, the global tile grout market value is registered as USD 2.2 billion and is expected to exhibit the tile grout market size of USD 3.8 billion with a lucrative CAGR of 6.8% during the forecast period 2021-2028.


Tile grout is a type of concrete used to fill gaps. It is in fluid form. This grout is produced from a mixture of sand, water, and cement which is used for pressure grouting, connecting sections of precast concrete, sealing joints between tiles, embedding rebar in masonry walls, and filling voids. To fill the large gaps like the cores of concrete blocks, tile grout is mixed with fine gravel. Compared to other structural pastes like plaster or joint compound, grout performs better and gives good results. When the grout mixture is correctly mixed and applied properly, it forms a waterproof seal. This makes it water-resistant for avoiding discoloration.


Moreover, by restricting the water entering through the gaps of the tiles by filling them with grout, it helps in eliminating the threat of mold and mildew occurring due to moisture. Worldwide, tiles coupled with rugs & carpets, laminates, and wood becomes an essential component in the construction industry. Hence the increase in the construction in both residential and commercial activities is escalating the growth of the market.


COVID-19 Analysis:


The COVID-19 pandemic has severely affected the global economy by negatively impacting most of the industries like chemicals, electrical & electronic, food & beverages, and many more. This pandemic directly affects the production, demand, supply chains, and financial impact of the products by imposing the lockdown. To control the spread of the COVID-19 virus, most of the country’s governments imposed lockdowns and various stringent regulations.


The tile grout market was also negatively impacted by this pandemic. Due to the lockdown, most of the manufacturing industries face a lot of issues like lack of raw materials, supply chain disruptions, shortage of workers, and more which leads to a halt the production. The tile grout production is stopped that leads to the reduce the demand in the market and shut-offs the tile grout industry for a period. After the lift up of lockdown, rapidly the growth of the chemical & material products and tile grout products has increased which enhances the tile grout market growth.


Competitive Landscape


The prominent key players in the tile grout market outlook are the following:



  • Bostik USA (US)

  • ParexGroup (Bangkok)

  • Sika AG(Switzerland)

  • Craft (India)

  • MAPEI S.P.A (Italy)

  • LATICRETE International, Inc (US)

  • FLEXTILE LTD. (Canada)

  • Krishna Colours and Constchem PVT LTD (India)

  • Building Adhesives Ltd (UK)

  • ARDEX UK (UK)


Market Dynamics:


Drivers:


An increase in the demand for decorative tiles and a surge in the number of residential projects are the factors driving the tile grout market growth. The growing number of housing projects around the world is predicted to increase the demand for tile grout in the market. Due to the growing population, most of the developing countries around the world are increasing the demand for employment and affordable homes. The increase in the number of housing projects will increase the demand for tile grout. 


Increasing demand for outdoor flooring among residential buildings like townhouses, condos, bungalows, and row houses with attractive outdoor flooring solutions is escalating the growth of the market. Increasing the construction activities in both the residential and commercial is propelling the growth of the market. Tiles are essential for transportation infrastructure like railway stations and airports which is boosting the growth of the tile grout market.


Restraint:


Lack of awareness regarding the benefits of tile grout among developing countries is restraining the market growth. Apart, the tile grout can strain badly on the tile surfaces that are porous and unglazed like limestone or quarry tiles which are hindering the market growth. If grout is used on the tiles, they should be sealed.


Opportunities:


The rising number of restaurants, fast food joints, hospitality, tourism industry, and quick-service restaurants is creating a lucrative opportunity to increase the growth of the market. Innovations in low VOC adhesive grout tile may increase the growth of the tile grout market.


Challenges:


The raw materials of tile grout are very expensive and the introduction of new flooring materials like Mortar are the major challenges of the market growth. The cost of Mortar is also relatively low compared to grout.


Study Objectives -



  • To provide the depth information about the tile grout market structure along with various forecast segments and sub-segments for the coming 10 years.

  • To provide the factors that are impacting the growth of the tile grout market value.

  • To study the tile grout market industry analysis based on porter’s five force analysis, supply chain analysis, etc.

  • To provide history and forecast revenue segments and sub-segments of the tile grout market revenue for the five main geographies.

  • To offer the country-level analysis of the present tile grout market size and coming prospective.

  • To provide country-level analysis of the tile grout market industry growth by region, type, form, and application.

  • To offer a strategic profile of the major key players in the market, examine their core competencies, and draw a global market growth landscape.

  • To track and evaluate new product launches, mergers, acquisitions, strategic alliances, and global market research.


Segment Overview:


The global tile grout market has been divided into three segments based on type, application, and region.


Based on Type


The tile grout market types are classified into four segments such as finely sanded grout, unsanded grout, quarry-type grout, and epoxy grout. Among them, the epoxy-grout market is holding the largest market share for its multiple applications and several benefits like strength, durability, high chemical resistance, rendering it highly versatile, and others.


Based on Application


The tile grout market by applications is trifurcated into residential, commercial, and industrial. Out of these segments, the residential segment is dominating the highest market share and is expected to witness the highest growth during the forecast period due to the government funding for housing projects, rapidly growing population, rapid urbanization, and strong economic growth. These factors lead to an increase in the need for residential buildings globally. Moreover, the growing disposable income and rising focus on aesthetic values are increasing the number of private and residential constructions.


Based on Region


Region-wise, the global tile grout market was divided into five major geographies such as North America, South America, Asia-Pacific, Europe, and the Middle East & Africa. Out of these regions, Asia-Pacific is dominating the largest market share for the increase in the growth of building & construction industries and the presence of major manufacturers in this region.


Regional Analysis -


Geographically, the tile grout market is segmented into five main regions like Asia-Pacific, Europe, North America, South America, and the Middle East & Africa. Among them, Asia-Pacific is holding the largest tile grout market share for the rise in the building and construction industries growth and the presence of major manufacturers. Due to the business hubs being overpopulated, there is a demand for new commercial buildings like commercial complexes which leads to the growth of the tile grout industry. Moreover, due to the rapid urbanization in the emerging economies like China, India, and others are witnessing the highest growth rate in this region.


Due to the presence of leading manufacturing companies and easy accessibility of premium quality tile grout ingredients based on chemical & material products, North America is dominating the global market value. Rising demand for attractive and decorative products is propelling the growth of the market in this region. Due to the increase in the construction of new projects, Europe is increasing its position in the market during the forecast period.


Recent Developments



  • In May 2019, one of the popular vendors Sika AG acquired the global manufacturing company Parex which is a fabricator of tile adhesives, facade mortars, and waterproofing mortars. The acquisition of Parex benefits Sika AG to gain a strong foothold in Parex’s distribution channels and also opens new business opportunities.

  • In October 2018, a famous enterpriser Sika AG introduced the innovation SikaCeram adhesive range in the Indian market. This is used for tile and stone applications.


Report Overview:


This global tile grout market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the tile grout market drivers, restraints, challenges, and opportunities. The tile grout market forecast segments into three forms as type, application, and region.


Segmentation Table


The tile grout market trends have been segmented into three forms globally based on the type, application, and region.


By Type


Finely sanded grout, unsanded grout, quarry-type grout, and epoxy grout are the four types of market.


By Application


Residential, commercial, and industrial are the three applications.


By Region


Asia-Pacific, Europe, North America, South America, and the rest of the world are the five main geographies included in the global market.



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   6.8% CAGR (2022-2030)
  Base Year   2021
  Forecast Period    2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Bostik USA (US), Sika AG (Switzerland), ParexGroup (Bangkok), MAPEI S.p.A (Italy), Building Adhesives Ltd (UK), Craft (India), Krishna Colours and Constchem PVT LTD (India), LATICRETE International, Inc (US), ARDEX UK (UK), and FLEXTILE LTD. (Canada)
  Key Market Opportunities

  • Increasing as the business hubs are turning overpopulated
  • Creating demand for new complexes
  • Leading to the tile grout industry growth
  •   Key Market Drivers

  • Increase the demand for tile grout
  • The demand for employment and affordable homes owing


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    Frequently Asked Questions (FAQ) :

    Global tile grout market had created a valuation of around USD 1.2 BN in 2030

    On the basis of type, epoxy grout segment and on the basis of application, residential sector segment holds majority shares in the global tile grout market.

    Asia Pacific holds the largest share in the global tile grout market, followed by North America and Europe, respectively.

    Bostik USA (US), Craft (India), FLEXTILE LTD. (Canada), Sika AG (Switzerland), ARDEX UK (UK), ParexGroup (Bangkok), LATICRETE International, Inc. (US), MAPEI S.p.A (Italy), Krishna Colours and Constchem Pvt. Ltd. (India), and Building Adhesives Ltd (UK), are some of the top players operating in the global tile grout market.