Increasing number of residential and non-residential construction activities commenced across emerging economies is anticipated to drive the adoption of dry mix mortar. The product is used in infrastructural and commercial sectors owing to its superior workability and cost-effectiveness, which is likely to propel industry growth in the upcoming years.
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There is a rising demand for dry mix mortar formulations in non-residential and residential buildings as to its excellent properties. Several dry mix mortar manufacturers are working on expanding production capacities in developing nations, as well as are participating in partnerships, acquisitions, joint ventures, and collaborations.
In 2021, LafargeHolcim signed an acquisition agreement with Halyps Cement to acquire their business and two ready-mix concrete plants in Greece, with an aim to strengthen key infrastructure projects with sustainable building solutions in Athens.
Global Market Insights, Inc., estimates that the global dry mix mortar market size could be worth over USD 49.73 billion by 2027. Following are some of the most prominent trends favoring this projection.
- Robust demand for rendering mortar
Large number of construction activities commenced in the U.S., India, and China have fueled the usage of dry mix mortar for plastering and rendering. The render application segment held around 41% share in 2020 and is likely to register a CAGR of above 5.5% over the forecast period. Rendering is mostly done for waterproofing and for adding an aesthetic look to the surface. Using dry mix mortar provides good flexural and tensile strength and exceptional water resistance.
- Growing adoption in non-residential applications
Rapid urbanization in the developing countries is mainly driving the demand of dry mix mortar in the non-residential sector. It is used in infrastructural, commercial, and industrial activities in emerging and developed nations. The non-residential category is expected to hold around 67% dry mix mortar industry share. Meanwhile, the residential category is projected to rise considerably owing to the burgeoning construction industry and increasing disposable income in developing nations, leading to more usage of dry mix mortars in residential buildings.
- Asia Pacific & North America emerging as lucrative business grounds
The Asia Pacific dry mix mortar market has been dominant and is projected to record a 6.2% CAGR in the upcoming years owing to escalating infrastructural activities and residential construction in economies such as India and China. In 2020, Ambuja Cement announced the launch of its four new dry mortar solutions for home builders in India, which are ready-to-use hence time saving, reduce workload and offer optimal use of ingredients. The region is also witnessing a growing dry mix mortar application in the commercial category.
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On the other hand, North America is experiencing significant demand and adoption of dry mix mortars, which is likely to grow further given to emerging applications in commercial spaces like resorts, hotels, and institutions. The number of residential construction activities is also rising in the region, offering more business opportunities to product suppliers and manufacturers.
Table of Contents (ToC) of the report:
Chapter 1 Methodology and Scope
1.1 Market definition
1.2 Base estimates & working
1.2.1 North America
1.2.3 Asia Pacific
1.2.4 Latin America
1.2.5 Middle East & Africa
1.3 Forecast calculations
1.3.1 COVID-19 impact calculations on industry forecast
1.4 Data Sources
Chapter 2 Executive Summary
2.1 Dry mix mortar industry 3600 synopsis, 2017 - 2027
2.1.1 Business trends
2.1.2 Application trends
2.1.3 End-User trends
2.1.4 Regional trends
Chapter 3 Dry Mix Mortar Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2017 - 2027
3.3 COVID 19 impact on industry landscape
3.4 Industry ecosystem analysis
3.4.1 Distribution channel analysis
3.4.2 Value chain disruption analysis (COVID 19 impact)
3.4.3 Vendor matrix
3.5 Technology landscape
3.6 Pricing trends
3.6.1 North America
3.6.3 Asia Pacific
3.6.4 Latin America
3.7 Cost structure analysis
3.8 Regulatory landscape
3.9 Industry impact forces
3.9.1 Growth driver
18.104.22.168 Strong growth in the infrastructural industry
22.214.171.124 Rising consumption of dry mix mortar in the Asia Pacific
3.9.2 Industry pitfalls & challenges
126.96.36.199 Lack of appropriate norms and standards for dry mortar technology
3.10 Innovation & sustainability
3.11 Growth potential analysis, 2020
3.12 Porter's analysis
3.12.1 Supplier power
3.12.2 Buyer power
3.12.3 Threat of new entrants
3.12.4 Industry rivalry
3.12.5 Threat of substitutes
3.13 Company market share analysis, 2020
3.13.1 Top players analysis
3.13.2 Strategy dashboard
3.14 PESTEL analysis
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