USD 55.77 Billion
Report ID:
SQMIG15F2098 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|Tables:
94
|Figures:
77
Dry Mix Mortar Market size was valued at USD 58.56 Billion in 2023 and is poised to grow from USD 61.49 Billion in 2024 to USD 90.85 Billion by 2032, growing at a CAGR of 5% during the forecast period (2025-2032).
The Global Dry Mix Mortar Market has witnessed significant growth in recent years due to its widespread application across the construction industry. Dry mix mortar offers advantages such as enhanced workability, durability, and time efficiency compared to traditional wet mix methods. The market has been driven by the rising demand for sustainable and cost-effective construction solutions, especially in developing economies. Factors such as urbanization, infrastructure development, and increasing residential projects have contributed to the expansion of the market.
Moreover, technological advancements in manufacturing processes and the incorporation of additives to improve mortar performance have further propelled market growth. The market is characterized by the presence of both established players and new entrants, leading to a competitive landscape. However, challenges such as fluctuating raw material prices and variations in construction practices across regions could impact market growth. As the construction industry continues to evolve, the dry mix mortar market is anticipated to exhibit sustained growth, driven by the need for efficient and high-quality construction solutions worldwide.
US Dry Mix Mortar Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 55.77 Billion
Largest Segment
Cement Grouts
Fastest Growth
Thin Joint Mortars
Growth Rate
5% CAGR
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The Dry mix mortar market is segmented on the basis of type, application, end user, and region. By Product Type it is bifurcated into, Cement Grouts, Bonding Mortar, Thin Joint Mortars, Floor Screeds, Gypsum Plaster and Others. By Application it is categorized into, Tile Adhesive, Water-proofing Slurry, Concrete, Insulation and Others. By End Use Industry it is divided into Residential Construction, Commercial Construction and Industrial Construction. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Dry Mix Mortar Market Analysis by Type
The cement grouts have emerged as the dominating segment in 2022. This can be attributed to their versatility and widespread usage across construction applications. Cement grouts offer excellent bonding properties, high compressive strength, and durability, making them suitable for a wide range of projects, from structural repairs to tile installation. Their ability to fill voids, anchor machinery, and stabilize structures has made them essential in the construction and infrastructure sectors. Additionally, cement grouts' adaptability to different environmental conditions and compatibility with various substrates further contribute to their popularity.
However, thin Joint Mortars have been identified as the fastest-growing segments. This growth can be attributed to their increasing use in modern construction practices, particularly for projects involving masonry and lightweight blocks. Thin joint mortars offer several advantages, including improved thermal and sound insulation, reduced mortar consumption, enhanced workability, and quicker application compared to traditional methods. These benefits have led to their adoption in both residential and commercial construction, contributing to the segment's rapid expansion.
Dry Mix Mortar Market Analysis by Service
Commercial construction holds a dominating position in the market. This is largely due to the steady rise in commercial infrastructure projects such as office complexes, retail spaces, and hospitality establishments. The demand for quick and efficient construction methods aligns well with the characteristics of dry mix mortar, which offers enhanced workability, reduced curing times, and consistent quality. Additionally, the stringent regulations regarding environmental impact and sustainability in the commercial sector drive the adoption of construction solutions like dry mix mortar, which can contribute to reduced emissions and resource conservation. Moreover, it is also the fastest growing among all. This growth can be attributed to the increasing number of commercial projects such as office spaces, retail centers, and hospitality establishments across various regions. The demand for efficient and rapid construction methods in the commercial sector has driven the adoption of dry mix mortar due to its advantages in terms of time efficiency and consistency in quality.
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Asia Pacific stands out as the largest and dominating market segment in the global dry mix mortar industry due to a confluence of factors. The region's rapid urbanization and burgeoning construction activities have fueled an unprecedented demand for efficient and time-saving construction solutions. As countries like China, India, and Southeast Asian nations experience substantial population growth and infrastructural development, the need for cost-effective and high-quality building materials such as dry mix mortar has soared. Additionally, the availability of skilled labor, favorable government initiatives, and growing investments in real estate and infrastructure projects have contributed to the region's dominance.
North America has emerged as one of the fastest-growing regions in the Global Dry Mix Mortar Market, primarily due to several key factors. The region's robust construction industry, marked by increasing infrastructure projects and residential construction, has driven the demand for efficient and time-saving construction solutions like dry mix mortar. Additionally, the emphasis on sustainable building practices and environmental regulations has led to the adoption of dry mix mortar, which offers reduced waste generation and lower carbon emissions compared to traditional construction methods. the growth of the dry mix mortar market in North America.
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Dry Mix Mortar Market Drivers
Population Growth and Infrastructure Investment
Dry Mix Mortar Market Restraints
Raw Material Price Volatility
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The competitive landscape of the Global Dry Mix Mortar Market is marked by a diverse array of players, both established manufacturers and emerging entrants. These companies compete in terms of product innovation, quality, and pricing strategies to gain a competitive edge in the market. The emphasis on sustainable and environmentally friendly construction solutions has spurred the integration of advanced technologies and formulations into dry mix mortar offerings.
Moreover, collaborations, partnerships, and strategic acquisitions are prevalent strategies among companies to expand their market presence and strengthen their distribution networks. The competitive landscape is further influenced by regional variations in construction practices, regulatory frameworks, and customer preferences, necessitating adaptability and customization of product offerings to cater to diverse market segments..
Dry Mix Mortar Market Top Player’s Company Profiles
Dry Mix Mortar Market Recent Developments
In January 2024, ICICI Securities recommended a purchase approach for Ramco Cements with an objective cost of Rs 1188. At that point, the Ramco Concretes were exchanged at a market cost of Rs 1011.
In February 2024, the members of the Ramco Concretes approved and supported the appointment of Shri. CK. Ranganathan as a Non-Executive Independent Director.
In December 2023, Holcim Azerbaijan declared plans to develop a cement terminal with a capacity of 2000 tons in the Araz Valley Economic Zone in Jabrayil. The task will be completed in stages, beginning in 2024. Holcim Azerbaijan will present its ECOPlanet Inshaatchi and ECOPlanet Optimal reduced CO2 cement in the local market through this terminal. Moreover, a dry adhesive and prepared blend concrete batching plant will be introduced at the office in a later stage. The complete arranged ventures for the site add up to US$2 million.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Based on our Global Dry Mix Mortar Market analysis, the market presents a dynamic landscape driven by a confluence of factors. Rising urbanization, coupled with a growing emphasis on efficient construction practices, has significantly propelled the demand for dry mix mortar across the globe. This market is marked by a continuous shift from traditional wet mortar methods to dry mix alternatives due to their advantages in terms of workability, durability, and time efficiency.
Moreover, the increasing adoption of sustainable construction practices and the integration of advanced additives have further boosted the market's growth. While the market holds considerable promise, it also faces challenges such as fluctuating raw material prices and variations in construction practices among different regions. This has led to a competitive landscape characterized by both established players and emerging entrants, all vying to capture a larger share of the market.
As the construction industry continues to evolve and environmental concerns gain prominence, the Global Dry Mix Mortar Market is poised for sustained growth with a focus on innovative solutions that cater to the demands of modern construction practices..
Report Metric | Details |
---|---|
Market size value in 2022 | USD 55.77 Billion |
Market size value in 2031 | USD 86.52 Billion |
Growth Rate | 5% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Dry Mix Mortar Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Dry Mix Mortar Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Dry Mix Mortar Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Dry Mix Mortar Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG15F2098
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