The South US construction sector is booming due to urbanization and infrastructure development, with rising investments in residential, commercial, and industrial projects.
NEWARK, Del, July 01, 2024 (GLOBE NEWSWIRE) — The United States construction anchor market size reached USD 2,123 million in 2023. Over the forecast period, demand is anticipated to rise at 5% CAGR. Total industry value is predicted to increase from USD 2,502 million in 2024 to USD 4,080.6 million by 2034.
Growing demand for construction hardware, pushed by the construction sector’s expansion has also led to an increase in online sales. The popularity of do-it-yourself (DIY) videos and the development of the retail sector has made it easy for consumers to access construction hardware like anchors.
The trend is particularly prevalent in the South United States, where the construction anchor industry is expected to dominate throughout the forecast period. Stringent government regulations and the booming construction sector are key factors contributing to growth.
Chemical anchor is an important product type in the United States, which is favored in various construction applications due to improved productivity and efficiency. The shift towards fast-curing chemical anchors, which reduce installation time and enhance productivity, is gaining traction.
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Key players like Hilti are innovating and launching hybrid formulations, offering benefits such as high strength, fast strength gains, self-compaction, durability, and increased load capacity. The development of new chemicals and formulations continues to make chemical anchors a critical component in ensuring the safety and stability of structures.
Key Takeaways from the Report:
- Construction anchor demand in the United States grew at a CAGR of 2.8% between 2019 and 2023.
- Tier 1 companies comprise leaders with a revenue of above USD 80 million capturing a significant share of 42% to 49% in the United States.
- The South United States is projected to reach USD 1,398.6 million by 2034.
- The West is anticipated to total USD 908.3 million by 2034.
- Based on product type, the chemical segment is set to hold a significant volume share of 91.8% in 2024.
“Chemical anchors have become increasingly popular as there is a strong desire for sustainable manufacturing processes. Several manufacturers are developing environmentally friendly anchors that are separated from volatile organic compounds (VOCs) and that comply with stringent environmental regulations,” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Competitive Landscape:
The United States construction anchor industry is fragmented, with leading players accounting for about 42% to 49% share.
- Stanley Black and Decker, Inc.,
- Simpson Strong-Tie Company, Inc.,
- EJOT Holding GmbH and Co. KG, Hilti Corporation,
- Misumi Corporation,
- Unika Co. Ltd.,
- EMC Fasteners and Tools,
- Ningbo Londex Industrial Co. Ltd.,
- HASM Co. Ltd.,
- ITW,
- TOGGLER, Sika,
- Adolf Wurth GmbH, and Co. KG,
- Cobra Anchor Fischer Fixings
are the leading manufacturers of anchors listed in the report.
Innovations in construction anchor technology in the United States are enabling leading players to compete with rivals. Environmental sustainability considerations in the production of construction anchors are also compelling a few players to launch eco-friendly anchors. However, the regulatory landscape of construction anchors in the United States is stringent. This is anticipated to slow down growth as companies strive to gain fast-track approvals from authorities to distribute new products.
Industry Updates-
- In August 2023, Green Crete Technologies, based in Indiana, introduced a post-anchor mix named Boa Hold. The product was mainly developed to improve outdoor construction with ease and efficiency.
More Insights into the United States Construction Anchor Industry Report
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the United States construction anchor industry, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034. To understand the industry potential, growth, and scope, the sector is segmented based on product type, application, sales channel, and region.
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Key Segments of Industry Report
By Product Type:
The three main product types include metal, chemical, and light-duty anchors. The metal segments are further divided into wedge, undercut, concrete screws, drop-in, sleeve and nail, and cast-in anchors. Two key chemicals are injectable and capsule adhesive anchors. The light-duty segment is
- sub-segmented into nylon plugs,
- drywall plugs,
- drywall screws,
- insulation anchors,
- metal screws.
By Application:
The four leading applications are
- building construction,
- civil engineering,
- construction installation,
- DIY.
By Sales Channel:
Leading sales channels include
- direct sales,
- distributor sales,
- retail sales,
- home centers,
- online sales.
By Region:
The report contains in-depth information about important regions like the
- Northeast,
- Midwest,
- South,
- West United States.
Authored by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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