Resin Capsule Market Growth Analysis | 2023-2028

Market Insights

The resin capsule market was estimated at USD 755.56 million in 2022 and is likely to grow at a CAGR of 5.36% during 2023-2028 to reach USD 1038.82 million in 2028.

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What are resin capsules?

Resin capsules are primarily used as an anchoring medium for rock bolts and cable bolts, playing an important role in supporting mining excavations. These capsules are used to enhance the inherent strength of the rock mass stabilization and can also be utilized with hydraulic and pneumatic type bolters.

Market Dynamics

The major factors driving the growth of the resin capsules market are-

• An increase in safety standards in mining.
• Rapid growth in the mining industry in the Asia-Pacific region.
• The growing construction industry across the world.

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Segments Analysis

By Product Type

Based on the product type, the market is segmented as polyester, epoxy, acrylic, and others. Polyester resin capsules are estimated to account for the largest share of the market during the forecast period, owing to high product usage in the mining industry because of the features such as reliability, distributed anchorage, controlled setting time, and chemical & corrosion resistance offered by polyester resins. India, South Africa, Indonesia, Brazil, and Russia are the major countries with rapid growth in the manufacturing industry, fueling the market growth during the forecast period.

By Catalyst Type

Based on the catalyst type, the market is segmented as oxygen peroxide, oil based, and water based. Oxygen peroxide-based resin capsule is estimated to witness a significant growth rate in the market owing to the rapidly growing industrialization and urbanization in the Asia-Pacific region. On the other hand, water-based resin capsules are estimated to hold the major share of the market over the forecast period. Factors such as, their capacity to enhance the quality of mixing, consistency, encapsulating and reducing formulating cost, and rapid growth in emerging economies such as China, Indonesia, India, and Russia are expected to drive the growth of the market during the forecast period.

By Type

Based on the type, the market is segmented as superfast, fast, and slow. Superfast resin capsule is estimated to register a high growth rate in the market during the forecast period. It offers quick setting time and is used in the mining at the toe of the hole to grout the bolt quickly.

By End-User Type

Based on the end-user type, the market is segmented as mining, construction, manufacturing, oil & gas, and others. Construction is estimated to witness a significant growth rate in the market during the forecast period owing to the wide utilization of resin capsules in rock bolting applications across tunneling and dam construction, and an increase in the development of infrastructure and road connectivity globally, eventually fueling the resin capsules market growth over the forecast period.

Regional Insights

In terms of regions, Asia-Pacific is estimated to be the leading region in the market with China, Australia, and India being the major countries with lucrative growth opportunities during the forecast period. Growing enhancements in various end-use industries such as mining, construction, and manufacturing, resulting in better outputs are expected to fuel the growth of the regional market over the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market. 

The market is segmented into the following categories.

By Product Type

• Polyester
• Epoxy
• Acrylic
• Others

By Catalyst Type

• Organic Peroxide
• Oil based
• Water based

By Type

• Superfast
• Fast
• Slow

By End-User Type

• Mining
• Construction
• Manufacturing
• Oil & Gas
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Key Players

Some of the key players in the market are-

• Buildtech Products
• DSI Underground
• Fischer Group
• Hightech Mining
• Hilti Corporation
• Jennmar Corporation
• Minova
• Mungo Befestigungstechnik AG
• Sika Ag
• Sormat Oy.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by end-user type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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