Construction Anchors Market Size, Share & Trends Analysis Report By Product (Hangers, Mechanical), By Materials (Stainless Steel, Carbon Steel), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Construction Anchors Market Size & Trends

The global construction anchors market size was estimated at USD 2.92 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 3.7% from 2023 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 growth. They are commonly used to fasten structural elements such as columns, beams, equipment, machinery, and other heavy loads.

Among products, the mechanical segment dominated the market with 41.3% in terms of revenue in 2022. High durability and rigidity, along with ease of maintenance, offered by construction anchors have led to their surged adoption in the construction industry globally. 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. Several factors influence the growth and dynamics of the construction anchors in the U.S. The construction industry is thriving, with continuing residential, commercial, and infrastructural projects generating demand for construction anchors in several construction applications.

Furthermore, the growing emphasis on environmentally friendly and sustainable construction processes is expected to propel the demand for stainless steel construction anchors in the country. Furthermore, the development in R&D and investments in the construction industry are predicted to have a positive impact on the U.S. market. The increasing number of large-scale infrastructure projects, such as hospitals and hotels in Missouri, New York, and Los Angeles, is likely to propel the growth of the construction industry and drive the demand for the overall market in the U.S.

Materials Insights

Based on materials, the stainless-steel segment was estimated at USD 1,553.7 million in 2022 and is anticipated to register a CAGR of 3.6% over the forecast period. Stainless steel construction anchors are available in different designs such as sleeve or wedge anchors used for providing reliable fastening solutions in concrete construction. Furthermore, the anti-rusting and anti-corrosion properties of stainless steel make them suitable for use in anchoring steel frames, plates, and other heavy fixtures in commercial or industrial construction. Stainless steel is preferred for manufacturing construction anchors owing to its durability, high reliability, and quality in terms of strength. The product made from austenitic (300 Series) stainless steel usually has higher corrosion resistance compared to its counterparts, hence it is highly recommended in infrastructural construction projects, where the structures are exposed to constant moisture. Carbon steel gets oxidized when exposed to air, while stainless steel produces chromium oxide, which protects stainless steel construction anchors from the damage caused by oxygen and chemicals, thereby extending their lifespan.

Carbon steel segment dominated the market with a revenue share of 53.0% in 2022. The segment is expected to grow at a CAGR of 3.6% over the forecast period on account of its wide application scope in the manufacturing of construction anchors owing to its high load-bearing ability and tensile strength. In addition, carbon steel is good at resisting abrasion and retaining its original shape. This makes them a preferred choice as fastening materials for heavyweight structures such as concrete and steel.

Product Insights

The hangers segment is anticipated to register a CAGR of 3.4% over the forecast period owing to its ability to attach temporarily or permanently to non-cracked concrete. Hangers can be used in several different applications, including wood forms for supporting fresh concrete. The installation of hangers does not require any special drilling bits on the surface and can be installed using standard-sized ANSI tolerance drill bits.

The post-installed anchors segment held a revenue of USD 784.9 million in 2022 and is expected to reach USD 1,070.0 million by 2030, progressing with a CAGR of 3.9% over the forecast period. It is used for holding equipment or connecting new elements, such as infill walls or braces while strengthening the concrete structures. The post-installed segments, such as mechanical or bonded anchors, are placed into pre-drilled holes in the existing concrete structure and anchored with the use of friction or mechanical interlock.

End-use Insights

The residential construction industry segment is mainly driven by the rise in single-family housing units. Low mortgage rates and a rise in immigrant influx to major cities are propelling the demand for residential housing in the country. Construction anchors secure walls, roof trusses, and other critical components in residential buildings. This is expected to boost the demand for construction anchors in the residential industry.

Rising energy demand worldwide, an increasing share of renewable energy sources in the regional power generation mix, and an increasing need to reduce dependency on fossil fuels for power generation are anticipated to fuel the industrial sector, further creating demand for construction anchors. The growing thermal power market and factories are expected to boost the use of anchors. This, in turn, is expected to lead to increased demand and consumption of construction anchors in the industrial sector.

Regional Insights

The increasing number of petrochemical plants and the flourishing construction industry in Asia Pacific are driving the growth of the market in the region. The growing demand for fuels and consumer goods is contributing to the requirement for crude oil production capacity in Asia Pacific. Thus, leading to the growth of the industrial construction sector in various countries of the region. Moreover, rising investments in new infrastructure development projects in India, Australia, Hong Kong, Japan, Thailand, Vietnam, etc. are surging the consumption of construction anchors in these countries.

The construction industry in Asia Pacific is expected to grow during the forecast period owing to the rising per capita income of the middle-class population, ongoing urbanization, and expanding population in the region. The rising number of residential and commercial buildings and the flourishing industrial sector owing to the sustainable economic growth of Asia Pacific is expected to surge construction activities in the region during the forecast period. This, in turn, is anticipated to drive the demand in Asia Pacific in the coming years.

In November 2021, the Government of Malaysia announced the construction of approximately 500,000 affordable houses under the 12th Malaysia Plan to be completed by 2025. The project is expected to provide houses to the low-income group of the country, thereby fueling the consumption of construction anchors. Such developments are observed across the Asia Pacific, thereby contributing to the growth of the market in the region.

North America held 29.26% of the global market revenue share in 2022. North America is one of the prominent regional markets for mechanical anchors owing to higher market penetration in the developed economies of the region such as the U.S. and Canada. Growing construction activities in developing economies such as Mexico are the key factor driving the adoption of mechanical anchors. Rising investment in the renovation of existing residential buildings and increasing disposable incomes are the major factors contributing to the growth of this market.

The European construction anchor market has been experiencing significant growth in recent years. Several European countries, including the UK, Germany, Italy, France, Spain, and the Nordic Region, are major economies adding to the growth of the overall market. The rise in construction activities, rapid infrastructure development, and increasing renovation projects are boosting the growth of fiber cement boards in the region, in turn, contributing to the demand for construction anchors.

Key Companies & Market Share Insights

The construction anchors industry is considered highly competitive on account of the presence of many large-scale manufacturers functioning at a regional or global level. Major players operating include Hilti Corporation, Stanley Black & Decker, Inc. - DEWALT, Illinois Tool Works, Inc., Wurth Group, Fischer fixings UK Ltd., Mechanical Plastics Corp., and Cobra Anchors. The manufacturers are adopting various growth strategies to keep up with the rising demand from various end-use applications such as construction. Furthermore, companies are also focusing on expanding their product portfolio through quality upgrades of existing materials and the introduction of new value-added products based on end-user requirements.

Construction Anchors Market Report Scope

Global Construction Anchors Market Report Segmentation

This report forecasts revenue growth at the regional and country levels and provides an analysis of the industry trends in each of the sub-segments from 2018 to 2030. Grand View Research has segmented the global construction anchors market report based on product, materials, end-use, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Hangers

    • Mechanical

    • Cast-in Anchors

    • Post-installed Anchors

    • Screw

      • Expansion

      • Undercut

  • Chemical

  • Nail-in

  • Wall

  • Others

• Materials Outlook (Revenue, USD Million, 2018 - 2030)

  • Stainless Steel

  • Carbon Steel

  • Others

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Residential

  • Commercial

  • Industrial

  • Infrastructural

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • Nordic Region

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

  • Central & South America

    • Brazil

    • Chile

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • UAE