The Dry Mix Mortar Market size is valued at around 298,000 kilotons in 2021, and the market is projected to register a CAGR of over 5% during the forecast period (2022-2027).
The market was negatively impacted by COVID-19 in 2020. However, the construction sector is picking up the pace in the post-pandemic scenario. Thus, this will enhance the market demand for dry mix mortar in the coming years.
- Over the short term, simplified mix and apply operation is expected to drive the market’s growth.
- The emerging trend of green building certifications is likely to act as opportunities in the future.
- Asia-Pacific dominated the market studied, with the largest consumption from countries like China, India, and Japan.
Key Market Trends
Robust Demand from the Render Segment
- Rendering contains a higher proportion of cement in its composition and is used to coat the exterior surfaces of buildings. Rendering is used on the outside of buildings to improve the appearance of the exterior façade while also providing waterproofing and fireproofing benefits.
- Dry mix products provide excellent technical properties to meet the stringent performance requirements that are common in the current construction scenario. Additionally, the use of dry mix mortar products is economical, as they reduce the potential construction problems with the long-term integrity of structures with a simple materials approach.
- Dry mixed mortar contains the precise blend of materials and only requires the addition of water to produce a suitable render. Dry mix mortar comprises special additives that improve the workability of renders, help them bond to the background, and reduce the risk of cracking. They can also be used for decorative finishes.
- Render accounts for the highest usage of dry-mix mortar across the world. The usage of dry-mix mortar in rendering applications is preferred in the North America
China to Dominate the Market in the Asia-Pacific Region
- The country has the largest construction market in the world, encompassing 20% of all construction investments globally. China is expected to spend nearly USD 13 trillion on buildings by 2030, creating a positive market outlook for construction materials such as dry mix mortar.
- The increased focus on affordable housing by both the public and the private sector may drive growth in the residential construction sector, which is likely to drive the market demand.
- China has been majorly driven by the ample developments in the residential and commercial construction sectors and supported by the growing economy. In China, the housing authorities of Hong Kong launched several measures to push-start the construction of low-cost housing. The officials aim to provide 301,000 public housing units by 2030.
- Similarly, China is also likely to witness the construction of 7,000 more shopping centers, which are estimated to be opened by 2025. Such growth in the construction industry is likely to propel market demand.
- However, the economy looks shaky as the country is dealing with Evergrande crisis (the company has USD 300 billion of liabilities alone as of June 2021) and a full-fledged Chinese financial crisis and a recession can’t be ruled out.
The dry mix mortar market is fragmented in nature. Some of the major players in the market (not in any particular order) include Sika AG, CEMEX S.A.B. de C.V., MAPEI SpA, Ardex Group, and Saint-Gobain, among others.
- The market estimate (ME) sheet in Excel format
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1.2 Scope of the Study
4.1.1 Increasing Construction Activities in the United States and Asia-Pacific
4.1.2 Long-term Cost Effectiveness in the Construction Industry
4.1.3 Simplified Mix and Apply Operation
4.2.1 Certain Characteristics Restraining the Use of Dry-Mix Mortar
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
18.104.22.168 Other Non-residential End-user Industries
5.2.3 Tile Adhesive
5.2.5 Water Proofing Slurry
5.2.6 Concrete Protection and Renovation
5.2.7 Insulation and Finishing Systems
5.2.8 Other Applications
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.2 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.3.4 South America
18.104.22.168 Rest of South America
5.3.5 Middle-East and Africa
22.214.171.124 Saudi Arabia
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
6.2 Market Share (%) **/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 Ardex Group
6.4.3 BASF SE
6.4.4 CEMEX S.A.B. de C.V.
6.4.5 Conmix Ltd
6.4.6 Henkel AG & Co. KGaA
6.4.7 Laticrete International Inc.
6.4.8 MAPEI SpA
6.4.11 Sika AG
6.4.12 The Ramco Cements Limited
6.4.13 UltraTech Cement Ltd
A selection of companies mentioned in this report includes:
- Ardex Group
- BASF SE
- CEMEX S.A.B. de C.V.
- Conmix Ltd
- Henkel AG & Co. KGaA
- Laticrete International Inc.
- MAPEI SpA
- Sika AG
- The Ramco Cements Limited
- UltraTech Cement Ltd