April 15, 2024 10:40 ET | Source: Straits Research Private Limited - Reed Intelligence Straits Research Private Limited - Reed Intelligence
New York, United States, April 15, 2024 (GLOBE NEWSWIRE) -- Chemical anchors are specialized fastening techniques used in construction to reinforce and secure structural components such as bolts, rods, or anchors in diverse substrates, including concrete, masonry, or stone. In contrast to mechanical anchors that rely on friction or expansion, these anchors combine adhesive properties and mechanical interlocking to produce a strong and long-lasting bond. Chemical anchors consist of an adhesive resin and a rod or bolt injected into pre-drilled cavities. Even though adhesive glue is frequently a two-component mixture, the load-bearing element of an anchor is typically composed of steel. 1KG Marble Adhesive
Due to a chemical reaction in the resin, the anchor rod cures and bonds to the substrate. Chemical anchors possess a high load-bearing capacity, exceptional resistance to dynamic stresses and vibrations, and adaptability in various foundation materials. Chemical anchors provide a dependable method for ensuring the stability and integrity of building projects, enhancing structural performance, and ensuring the longevity and safety of structures subjected to heavy loads or environmental factors.
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Growing Construction Industry Drives the Global Market
The construction industry will be one of the most dynamic in the coming years, and its contribution to global economic development cannot be overstated. In the future years, it is anticipated that the global construction industry will expand at a rapid rate. Even though the recent pandemic outbreak has slowed down most global projects, the current relaxation of restrictions and injection of economic aid in the form of financial packages by governments to restore demand and the economy will likely revitalize the sector.
Despite this, the construction industry has a positive growth outlook over the long term. An increase in population led to increased spending, and government actions are prompting upswings in market growth. The expansion of the construction industry is anticipated to be the driving force behind a shift in the chemical anchors market during the period under consideration.
Activities in Renovation and Retrofitting Creates Tremendous Opportunities
As society places a greater emphasis on being environmentally conscious and extending the useful life of existing structures, renovation and retrofitting projects are gaining popularity. Existing buildings are anticipated to house more people in the coming decades, which explains this trend. This occurrence is one of the reasons why interest in these types of initiatives is growing. Due to their functions in reinforcing and strengthening the structures, chemical anchors are most important to completing these projects. This is the case because chemical anchors perform these roles. The market for restoration and retrofitting enables manufacturers of chemical anchors to develop one-of-a-kind solutions for enhancing the structural integrity of the structures they are restoring or retrofitting.
North America is the most significant global chemical anchors market shareholder and is estimated to exhibit a CAGR of 4.1% over the forecast period. Chemical anchors have received greater attention in North America over the last few years, notably in commercial and infrastructure-related activities. The resilience of the manufacturing sectors in the several nations that make up North America and the abundance of commodities are the primary drivers of the region's rapid economic progress.
Additionally, it is anticipated that during the forecast period, market growth will increase due to increased awareness of chemical anchoring and expanding infrastructure investment in the region. This is one of the reasons why the prediction is being made. It is anticipated that the recovery of the construction industry in the United States and an increase in building activity in Canada and Mexico will fuel market expansion over the period covered by the forecast. Additionally, it is anticipated that an increase in construction activity in Australia will also contribute to market expansion.
Europe is anticipated to exhibit a CAGR of 6.0% over the forecast period. The supportive actions taken by the governments in the region, large salary rises, and ongoing job creation are all factors that contribute to the region's economic development. In addition, it is anticipated that expenditures made by the government, notably in the areas of digital and transportation infrastructure, will contribute to the expansion of the regional economy. Construction activities in Europe's residential and infrastructure sectors are anticipated to resume as the region's economy improves. It is anticipated that nations like the United Kingdom, France, and Italy, severely impacted by the epidemic, will recover. Demand for chemical anchors will likely stay high in these nations during forecasting.
The key players in the global chemical anchors market are Hilti Group; Illinois Tool Works Inc.; Sika AG; Simpson Strong-Tie Company, Inc.; Henkel AG & Company, KGaA; MKT Fastening; Power Fasteners; FIXDEX Fastening Technology; EJOT; Ripple India; KoelnerRawlplug IP; MungoBefestigungstechnik AG; Chemfix Products Ltd.; Leviat B.V.; and Fischer Group.
Global Chemical Anchors Market: Segmentation
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