Construction Anchors Market Size, Share & Trends Analysis Report By Product (Hangers, Mechanical, Chemical), By Materials (Stainless Steel, Carbon Steel), By End Use (Residential, Commercial, Industrial), By Region, And Segment Forecasts, 2024 - 2030

Construction Anchors Market Size, Share & Trends Analysis Report By Product (Hangers, Mechanical, Chemical), By Materials (Stainless Steel, Carbon Steel), By End Use (Residential, Commercial, Industrial), By Region, And Segment Forecasts, 2024 - 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 3.9% from 2024 to 2030 This growth can be attributed to the surging demand for advanced construction anchors and fasteners for connecting structural elements. Moreover, the development of new and innovative products and hassle-free installation techniques has considerably driven the market. They are commonly used to fasten structural elements such as columns, beams, equipment, machinery, and other heavy loads.

Mechanical anchors are majorly used for fastening elements of main structural concrete such as slabs, beams, and columns. Torque-controlled expansion anchors are the most commonly used mechanical anchors owing to their quick installation time and easy application. Chemical anchors consist of bonding material and an embedded metal part placed in a pre-drilled hole in the base material. The growing demand for products in the construction industry arises from the need to address current construction problems as well as future innovative structural designs. Presently, the problems include widespread infrastructural decay, which is attributed to the durability of construction materials in concrete structures.

The rapidly expanding construction industry is driving market demand. The increasing focus on advanced architectural design in the construction sector is projected to create potential demand for innovative buildings over the forecast period. The economic development across rapidly developing countries, including China and India, is projected to accelerate market growth over the forecast period.

The players in the construction anchors industry sell their products through a distribution channel, their supplier network, or through sales offices present around the world. The manufacturers are involved in the production of various types of construction anchors, such as concrete screws, lag shields, hammer-set anchors, plastic wall plugs, and anchor bolts. The manufacturers also create their websites or sell their products through third-party websites to expand their presence in other countries.

The need to overcome the limitations of mechanical anchor, such as its expansion against the size of the sides of the hole, is a major challenge in the global construction anchor industry. This expansion induces compression stress, which requires a sufficient amount of base material that can withstand the evolved stress. This pose is a major challenge that needs to be overcome in the upcoming products by the manufacturers to grow their market share.

Construction Anchors Market Report Highlights

• Among products, the mechanical segment dominated the market with 45.3% in terms of revenue in 2023. High durability and rigidity, along with ease of maintenance offered by construction anchors, lead to their surged adoption in the construction industry around the world. Moreover, they are less sensitive to poor installer techniques and can be loaded immediately into the concrete structures. These factors are also anticipated to surge their consumption in commercial and industrial establishments in the coming years.
• Stainless steel anchors dominated the industry and accounted for 53.0% of the overall demand in 2023. However, stainless steel is expected to witness lower growth as compared to its counterpart owing to the increasing penetration of carbon steel anchors in applications such as light poles, highway signs, heavy equipment, and bridge rails on account of their high corrosion resistance and strength-to-weight ratio. However, the high mechanical strength offered by stainless steel anchors is expected to be an important factor triggering their steady growth over the forecast period.
• Commercial buildings led the global market in 2023 by accounting for a revenue share of 31.0% of the overall market. Construction anchors are widely used in commercial applications owing to their ability to provide a secure mounting system to safely hang items to concrete, brick, or block walls. The flourishing commercial sector in developing economies, such as India, Mexico, Brazil, and Indonesia, with required regulatory support in terms of permits for building materials, is expected to fuel the demand for different construction anchors in commercial applications over the forecast period.
• The Asia Pacific construction anchors industry is expected to grow at the fastest CAGR of 4.4% in terms of revenue over the forecast period, owing to a positive outlook toward the overall product demand in the region. Moreover, the penetration of multinational brands backed by favorable trade policies is contributing to the growth of the construction sector in Asia Pacific. The consequent rise of office spaces, factories, manufacturing plants, and infrastructural development projects across the region is likely to propel the demand for construction anchors.
• The market is highly competitive owing to the presence of a large number of manufacturers. Prominent suppliers are focusing on achieving optimal operational costs, maximizing the efficiency of production facilities, attaining shortened lead times, and enhancing the quality of products to maintain their dominance in the market. A major challenge faced by the competitors is the fluctuation of raw material prices; hence, a high degree of backward and forward integration is likely to be observed among the major players in the market. This will further intensify the market rivalry and competition, making it difficult for emerging players to sustain in the market.

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