Construction Anchors Market Size, Share & Trends Analysis Report By Product (Hangers, Mechanical), By Materials (Stainless Steel, Carbon Steel), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Construction Anchors Market Size, Share & Trends Analysis Report By Product (Hangers, Mechanical), By Materials (Stainless Steel, Carbon Steel), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Construction Anchors Market Growth & Trends

The global construction anchors market size is expected to reach USD 3.90 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 3.7% from 2023 to 2030. The market growth can be attributed to an increase in demand for innovative construction anchors and fasteners used to connect structural parts. Furthermore, the introduction of new and creative products, as well as simple installation techniques, has significantly fueled the building anchors industry. They are often used to secure structural elements such as columns and beams, as well as equipment, machinery, and other heavy loads.

The growth in construction spending in the emerging Middle Eastern and Asia Pacific economies can be attributed to the strong industrial and economic development coupled with population expansion, which is likely to have a positive impact on the demand for construction anchors in these regions over the forecast period. Furthermore, the governments of emerging economies have invested significantly in public infrastructures such as offices, building hospitals, and housing societies.

The development of private-sector construction companies in India, China, and the UAE is anticipated to aid construction spending in the coming years. China witnessed a slowdown in the construction sector in 2020. However, the country’s transition toward a consumer- and service-driven economy has been providing ample and lucrative growth opportunities in new construction activities across various end-use sectors such as healthcare, education & social infrastructure, and retail. The aforementioned factors are likely to increase construction activities in China in the coming years.

Construction anchors have a potential demand and installation across the building & construction sector including historic masonry materials. These anchors mechanically anchor themselves in the base material with the help of friction and some type of movement to achieve holding values. These are made up of a combination of parts that move independently and allow the anchor to create an expansion in the base material once placed in the hole. These are particularly designed to go in the base material of the hole and not come out.

The market is considered highly competitive on account of the presence of many large-scale manufacturers functioning at a regional or global level.

Construction Anchors Market Report Highlights

• Based on product, the mechanical anchors segment dominated the market in 2022 with a revenue share of 41.3% in terms of revenue. Mechanical anchors can be used in light-duty as well as heavy-duty applications. There are various types of mechanical anchors, including sleeve, drop-in, and wedge anchors. Torque-controlled expansion anchors are one of the most commonly used anchors in construction activities. Torque-controlled expansion anchors offer high-load bearing capacity and quick installation time
• Mechanical anchors are widely utilized in a variety of sectors because they are effective, reliable, and easy to use. They may be used both indoors and outdoors and are especially beneficial in situations where drilling into concrete or other hard surfaces is not feasible. Mounting large objects such as signboards to walls, securing handrails to stairways, attaching beams for support structures, attaching flooring tiles to concrete foundations, installing window frames and shutters on brick walls, and securing pipes to walls or ceilings are all common applications of mechanical anchors
• The intended use of cast-in anchor is for non-cracked or cracked concrete as it can transmit the tensile loads and shear loads. In addition, it can be embedded on the surface or sunk in the concrete structure owing to its ability to sustain a temperature range of -400 Celsius to +800 Celsius without any special basement. These factors are expected to increase the demand for cast-in anchors over the forecast period.
• In terms of revenue, the residential end-use segment accounted for USD 635.1 million in 2022 and is expected to witness growth at a CAGR of 3.1% over the forecast period from 2023-2030. The residential construction industry is mainly driven by the rise in single-family housing units. Low mortgage rates and a rise in immigrant influx to major cities are propelling the demand for residential housing in the country. Construction anchors secure walls, roof trusses, and other critical components in residential buildings. This is expected to boost the demand for construction anchors in the residential industry
• The commercial end-use segment is anticipated to grow at a CAGR of 4.0% in terms of revenue over the forecast period. The commercial industry segment is expected to grow at a significant rate owing to the wide application scope of construction anchors, including spaces such as malls, hotels, sports complexes, and industries. The building designs of malls, hotels, and sports & recreational stadiums are becoming more complex and include a wide variety of pipes, tubes, and cables suspended from the ceiling.
• Asia Pacific dominates the self-drilling screws market, accounting for USD 912.0 million in 2022. The increasing number of petrochemical plants and the flourishing construction industry in the Asia Pacific are driving the growth of the market in the region. The growing demand for fuels and consumer goods is contributing to the requirement for crude oil production capacity in Asia Pacific. Thus, leading to the growth of the industrial construction sector in various countries of the region. Moreover, rising investments in new infrastructure development projects in India, Australia, Hong Kong, Japan, Thailand, Vietnam, etc., are surging the consumption of construction anchors in these countries.
• Acquisitions & mergers, collaborations, and expansion of production facilities are some of the other operating strategies implemented by key market players. For instance, in September 2021, Simpson Strong Tie Company, Inc. announced the acquisition of Etanco Group for USD 725.0 million. Etanco Group is a leading designer, manufacturer, and distributor of fixing and fastening solutions for the construction industry throughout Europe. This move has helped Simpson Strong Tie Company, Inc. to increase its market presence in Europe.

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