Dry Mix Mortar Market size worth over $49.73 Bn by 2027
Published Date: May 5, 2021 Authors: Kiran Pulidindi, Hemant Pandey
Dry Mix Mortar Market size is forecast to exceed USD 49.73 billion by 2027, according to a new research report by Global Market Insights Inc.
Applications of dry mix mortar are increasing rapidly across the non-residential sectors such as commercial, infrastructural, and industrial. With the growing construction industry and rising disposable income, particularly in emerging economies, the demand for dry mix mortar is likely to propel. Additionally, dry mix mortar is gaining popularity in regions including the Middle East and Latin America due to growing awareness among people regarding the advantages of the product. The consumption of dry mix mortar is also expected to boom due to the increasing demand for sustainable products.
Dry mix mortar is witnessing rapid adoption in various residential and non-residential constructions owing to its versatile properties such as better flexibility, easy mix, good workability, sag resistance, and cost-effectiveness. It is widely used in bricklaying, rendering, and plastering. Surging commercial construction activities in developing economies including India, China, Indonesia, and Brazil are expected to spur the dry mix mortar market demand. Moreover, rising government initiatives for infrastructural development are poised to accelerate the industry growth.
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Growing investments in the construction industry are major factors driving market revenue. Heavy government investments in construction and infrastructure projects of the emerging economies are fueling the overall industry growth. In South East Asia countries, private investments for infrastructure development will support the business expansion. However, the lack of appropriate norms and standards for dry mortar technology may hamper the industry growth. Nevertheless, rapid developments in developing countries and rising penetration in regions, such as the Middle East, are anticipated to offer new growth opportunities.
Browse key industry insights spread across 165 pages with 137 market data tables & 10 figures & charts from the report, “Dry Mix Mortar Market Size By Application (Plaster, Render, Grout, Waterproofing, Tile Adhesives) By End-user (Residential, Non-Residential), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Rising application of dry mix mortar for rendering
The render segment dominated the global dry mix mortar market and is projected to see 5.5% CAGR through 2027. Dry mix mortar is a widely used product in wall renders and plasters. Rendering mortar is applied to external surfaces, plastering mortar to internal surfaces. Dry mix mortar renders offer easy workability, low stickiness to the tool, and a crack-free setting. Additionally, tile adhesives segment is the fastest-growing application segment led by the rising application of dry mix mortars as tile adhesives. An upsurge in residential and non-residential construction across the globe is spurring the consumption of dry mix mortars.
Asia Pacific to exhibit steady growth during the forecast period
In 2020, the Asia Pacific dry mix mortar market held the largest share of around 56% in terms of revenue and is predicted to grow at 6.2% CAGR till 2027. Asia Pacific is majorly driven by growing investments in new construction and infrastructural development in emerging economies. Rising applications of dry mix mortars in the commercial sector are also major factors driving the regional market trends.
North America market is anticipated to register significant growth from 2021 to 2027. Growing commercial construction and infrastructural activities, especially in the U.S., are likely to boost the regional market demand.
Some of the top players in the dry mix mortar market include The Ramco Cements Ltd., Parex Group, Sika AG, Colmef Monelli, Mapei SpA, RCMPL, DowDuPont, Saint-Gobain Weber, LafargeHolcim, CEMEX, Wacker Chemie AG, Saudi Readymix, WUENSCH PLASTER, Ardex Group, and UltraTech Cement Ltd., among others.
Major participants are mainly focusing on expanding their production capacities and regional presence to maintain their market share in the industry. For instance, in January 2021, Lafarge Cement Zimbabwe, a subsidiary of LafargeHolcim Group, completed crucial test runs on a dry mortar plant. Lafarge has also entered the tile adhesives market and several other allied products to supplement its cement business, which faces stiff competition in imports and against strong domestic competitors.