Press release
Industrial Grout Material Market to Record an Exponential CAGR by 2025
Industrial grout material market offers various types of grouts based on the purpose of application. Industrial grout is a material, which is non-metallic, non-corrosive and mineral based, meant to provide initial and final compressive and flexural strength for the surface on to which it is applied. It is chemical and moisture resistant, hence, can be used effectively on wet-process areas of the industrial field. The industrial grout material is widely used for applications where hygienic condition and chemical resistance are of utmost importance, such as, dairy farms, swimming pools, mine change rooms, breweries, food & beverage production sites and others. In order to offer protection against abrasion, chemical attack and severe high pressure cleaning practices, industrial grout material is applied on to the floor and wall. Thus, it is expected that the industrial grout material market will witness sturdy growth in the floor and wall application segment over the forecast period.
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Many industrial plants have witnessed spontaneous or impulsive shutdown due to wearing off of the processing machinery, which is particularly observed where large and heavy equipment are used. Thus, the industrial grout material market is expected to witness significant opportunities for the large compressors and many dynamic industrial machineries for enhanced performance and low cost of operation, maintenance and repair for the issues related with the foundation of the industrial plants.
Industrial Grout Material Market: Drivers and Restraints
One of the driving factors for the industrial grout material market is the rapid development in the production of consumer goods and food production. Increasing use of industrial grout material in the equipment such as electric motors, wind turbine foundation, crane rails, steam and gas turbines, pumps, engines, generators, presses, compressors, X-ray machines, grinders and so on for its improved efficiency and high productivity is estimated to bolster the industrial grout material market growth. The necessity of achieving sterile condition and chemical resistance has promoted industrial grout material to be used on flooring systems and liners, backing systems and machine bases. New technologies in grout mechanism to achieve high flow capacity and pumping ability at temperatures ranging between 35 to 100° F have led to the increase in demand for industrial grout material market over the forecast period.
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However, the higher cost of industrial grout material compared to other substitutes available is one of the restraints for the economic growth of industrial grout material market in the coming future. Despite the cost factor, industrial grout material offers numerous advantages over the traditional alternatives that aid overcome the limitations of the industrial grout material.
Industrial Grout Material Market: Segmentation
Industrial grout material market can be segmented based on the type as:
Epoxy grout
Polyester resin
Polyurethane foam
Industrial grout material market can be segmented based on the application as:
Chemical Processing Plants
Petroleum Refineries
Food & Beverages
Onshore Oil & Gas Processing
Electric Power Generation
Pulp & Paper Mills
Pharmaceuticals
Mines
Industrial Grout Material Market: Region Wise Outlook
Based on geography, it is expected that industrial grout material will witness profitable growth in the U.S. and the European nations owing to the rapid development in the pharmaceutical sector followed by Asia Pacific regions. The Asia Pacific region is expected to boost industrial grout material market with the rising expansion in the food & beverage processing sector. Increasing production in the pulp and paper mills in the region is also projected to fuel the demand for industrial grout material over the forecast period. Middle East countries are expected to create significant opportunities for industrial grout material market, as the petroleum refineries are projected to grow at an outstanding range in the coming future.
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Industrial Grout Material Market: Market Participants
Examples of some of the renowned market participants in the industrial grout material market are listed below:
LATICRETE International, Inc.
Five Star Products, Inc.
Copps Industries
Micor Company, Inc.
R. MEADOWS, INC.
Machine Support Technologies
Aquaproof Construction Chemical India Private Limited.
Larsen Building Products
Multi Construction Chemicals (Pty) Ltd
ITW Engineered Polymers
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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