Demand In China Construction Anchors Market Is Expected To Grow With A CAGR Of 6.5%, Says FMI

Over the forecast period of 2022-2032, the construction anchors market is expected to grow at a CAGR of 6.0% to reach a valuation of US$ 19.5 Bn by the end of 2032. The use of construction anchors is on the rise as engineers search for lightweight, corrosion-resistant methods of supporting engineered slopes and retaining walls.

Demand in China is expected to grow with a CAGR of 6.5%, accounting for more than 44% of the East Aisa construction anchors market share. Despite the challenges associated with the supply chain, such as rising raw material prices, shortage of building materials, and lack of skilled labor, the China residential construction sector continues its stable growth over the over the forecast period.

The audience seating at outdoor venues also benefits from the use of anchors, as they provide a safe and secure way to keep people in their seats during an event. Anchors can also be used to fasten large objects in place, such as sculptures or signs.

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The market is witnessing growth due to the increasing demand for new build extensions and project investment in developing countries. The building construction segment is expected to hold the largest share of the global construction anchors market over the forecast period.

“Increasing residential construction activities in the development of smart cities, along with growing demand for construction anchors made from sustainable materials will augment the growth in the market over the forecast period,” says an FMI analyst.

Key Takeaways:

• By Application, retail sales are expected to grow at a CAGR of 2% during the forecast period.
• By product type, the metal segment is anticipated to dominate the market of construction anchors and is further expected to account for about 6% of the market share.
• By sales channel, the retail segment is projected to lead the construction anchors market and is further anticipated to create an absolute dollar opportunity worth US$ 2,033.5 Mn in between the forecast period.
• In terms of region, construction anchor sales in Europe are estimated to exhibit a CAGR of 3%.

Construction Anchors Market Competitive Landscape

Among the industry’s key players are Stanley Black & Decker, Inc, Hilti Corporation, Simpson Manufacturing Co., Inc, EJOT Holding GmbH & Co. KG, Misumi Corporation, Ancon Limited, Fosroc Chemicals (India) Private Limited, Unika Co. Ltd, UNIQUE FASTENERS P. LTD  , Yuyao City Xintai Hardware Co. Ltd, FIXDEX Fastening Technology, EMC Fasteners and Tools, Ningbo Londex Industrial Co. Ltd, HASM Co. Ltd and others.

Manufacturers are strategically collaborating with technology partners for long supply relations and to instigate a central control unit for different ADAS technologies.

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Summary

The research report analyses the market demand trend for the construction anchors. The global market is based on COVID-19 impact, macroeconomic factors, market trends & market background. As per Future Market Insights’ research scope, the construction anchors market report is studied and analyzed in the following segments such as by product type, application, sales channel & regions. The construction anchors market report gives us qualitative and quantitative information about the companies.