Fort Collins, Colorado, April 27, 2024 (GLOBE NEWSWIRE) --
The tile grout market is expanding owing to the need for tile installation in residential and commercial settings.
The tile grout market is substantially expanding, propelled by the rising need for tile installations in residential and commercial environments. Data from the U.S. Census Bureau reveals that the value of construction put in place for residential buildings surged to USD 926.8 billion in 2022, signaling robust demand for home enhancements and refurbishments. Tiles have emerged as a favored option for flooring, walls, and countertops, given their durability, adaptability, and visual allure. Consequently, the demand for top-tier grout solutions has escalated, fueling the growth of the tile grout market.
The rising consciousness surrounding environmental concerns and the call for sustainable construction materials offer noteworthy avenues for growth within the tile grout market. Manufacturers are directing their efforts towards crafting eco-conscious grout formulations characterized by low levels of volatile organic compounds (VOCs) and incorporating recycled or bio-based constituents. For instance, integrating recycled glass aggregates into grout formulations diminishes the environmental impact and introduces distinctive aesthetic elements to tile installations. As per data from the U.S. Green Building Council, there were approximately 6,000 LEED-certified commercial buildings worldwide in 2023, underscoring an escalating demand for sustainable products, including eco-friendly grout solutions.
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Segmentation Overview:
The tile grout market has been segmented into type, application, end-user, and region.
Unsanded tile grout is the leading segment and continues to influence the segment's growth.
- Based on the market segmentation by type, the unsanded tile grout segment held the largest market share in 2023 due to its widespread use in wall tile installations and narrow joint applications. Unsanded grout is preferred for vertical surfaces as it prevents sagging and slumping, making it ideal for ceramic and porcelain tile installations in bathrooms, kitchens, and other areas with minimal foot traffic.
The residential is the leading application segment owing to the rise in home renovation trends.
- Based on the market segmentation by application, the residential segment dominated the tile grout market, accounting for the largest share in 2023. The growing trend of home renovations and remodeling projects, coupled with the increasing popularity of tile installations in residential spaces, has been a major driver for this segment.
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Tile Grout Market Report Highlights:
- The tile grout market growth is anticipated at a CAGR of 6.4% by 2032.
- Growing demand for tile installation will drive the tile grout market growth in the coming years.
- The Asia-Pacific region is the leading tile grout market and is projected to retain a leading position in the forthcoming years. Significant investments in urban areas and high demand for tile installation are anticipated to propel market growth.
- Some prominent players in the tile grout market report include Mapei, Laticrete, Custom Building Products, Bostik, Ardex, Sika, Pidilite Industries, Weber Saint-Gobain, H.B. Fuller, and Kerakoll.
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