Sodium silicate modified polyurethane (SS/PU) and polyurethane (PU) have become the most widely used grouting materials at present, but their differences in mechanical properties and fracture characteristics remain unclear. In this study, uniaxial compression, digital image correlation (DIC), split Hopkinson pressure bar (SHPB), and scanning electron microscopy were used to compare the dynamic and static mechanical properties and fracture characteristics of the two materials at different aging times. In terms of static mechanics, the stress-strain curve evolution, compression strength characteristics, and crack evolution fracture of SS/PU and PU were compared and analyzed. In dynamic mechanics, the impact compression stress-strain curve, peak strength, strength evolution characteristics, and micro-damage fracture characteristics of the materials were explored. Based on static compression measurements, both materials belong to viscoelastic bodies, with SS/PU being more rigid and PU being more elastic. SS/PU exhibits higher early strength (6 h, 36.9 MPa), while PU shows higher later strength (36 h, 48.9 MPa). Cracks appear instantaneously before or after the peak strength in both materials, with vertical cleavage fracture predominating. Under dynamic impact compression, both materials exhibit an increase with increasing impact velocity, showing a significant strain rate strengthening effect. At different aging times (6 h, 12 h, 24 h, 36 h), the dynamic compression strength of PU is greater than that of SS/PU. The fracture of SS/PU mainly involved continuous fracture, while the fracture of PU mainly involved polymer tearing. In general, when grouting reinforcement projects require materials with higher early strength and better rigidity, SS/PU is more suitable. If the area to be reinforced is in a dynamic impact environment and requires higher final strength, PU is preferable.