The tile grout market size was valued at USD 2.6 Billion in 2023 and is expected to reach a market size of USD 4.6 Billion by 2032 at a CAGR of 6.4%.
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.
The residential is the leading application segment owing to the rise in home renovation trends.
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Tile Grout Market Report Highlights:
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