PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1364702
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1364702
Dry Mix Mortar Market size was valued at USD 35,408.9 Million in 2022, expanding at a CAGR of 5.3% from 2023 to 2030.
Dry Mix Mortar is a dry combination of raw materials such as sand and cement. Additives and polymers may also be included. The raw material the basic building component counts the most in any construction because it is what holds the entire structure together. On building sites, one such raw material is dry mortar. It is typically favored over traditional on-site mixing mortar due to a number of advantages. The main advantage of dry mortar is that it is already prepared with a predetermined formula and packed with the appropriate raw components. All you have to do is mix in the needed amount of water, and the material is ready to use.
Increased infrastructure projects will inevitably raise demand for construction materials, notably dry mortars. New World Bank data finds that infrastructure investments in low- and middle-income countries rebounded in 2022. Private participation in infrastructure (PPI) commitments reached USD91.7 billion across 263 projects, a 23% increase from 2021. Many parts of the construction sector, such as cement and aggregate production and transportation, have a large carbon impact.
Cement has one of the highest carbon footprints, accounting for 7% of global CO2 emissions. China is the greatest producer, followed by India with almost 2350 million metric tons. Furthermore, Innovation and Product Development of Dry Mix Mortar with special properties is expected to provide growth opportunity for the market. Moreover, Fluctuations in the prices of raw materials especially cement may hamper the growth of the market.
The Global Dry Mix Mortar Market is segmented on the basis of Type, Application, and Region.
The market is divided into three categories based on product type: Tile Adhesives, Waterproofing, Plaster, Grout, Render, and Others. The plaster segment is expected to dominate the market growth, due to Due to its high content of fibers & additives, which allows better shrinkage control as well as improved workability, curing & permeability.
The market is categorized into two categories based on Application: Non-Residential, and Residential. The non-residential sector dominates the market and is likely to maintain its dominance during the forecast period. The use of dry mortar in non-residential projects, such as commercial buildings, institutions, industries, and other public structures, is significant. Dry Mix Mortar is a crucial component of the construction sector.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. Asia Pacific is expected to dominate the growth of the market, due to Rising Urbanization. The construction sector is quickly developing as a result of increased urbanization and population, as well as economic expansion. The growth of the building industry has raised demand for concrete and its elements, particularly Ordinary Portland Cement (OPC). This has resulted in a huge increase in the demand for building materials, notably dry mortar. Foremost, 1.1 billion people will live in the region's cities in the next 20 years. By 2030, more than 55% of the population of Asia will be urban. Asian cities are growing rapidly, according to the Asian Development Bank. North America and Europe are expected to drive the growth of the Dry Mix Mortar market in the forecast period, owing to increasing infrastructure development.
While existing Dry Mix Mortar competitions are primarily concerned with the strength or hardened concrete performance of concrete, this competition will be concerned with the workability and rheological qualities of cement-based materials. Manufacturers design a mortar combination that has the best flowability and stability. Also, they provide new dry-mortar solutions to help increase both brand awareness and retail growth. Apart from fulfilling their ambition to leverage existing customer relationships through retail channels, company products expand their reach to hardware stores and paint shops. Also, New product releases, distribution network development, R&D spending, and mergers and acquisitions are some of the key tactics utilized by corporations to strengthen their reach and expand their market share. For Example, Dow announced a series of incremental methyl cellulose capacity investments to help construction dry mix customers secure a reliable supply of key additives for this expanding area.
On 19 August 2022, BASF and Nippon Paint China, a leading coatings manufacturer, collaborated to launch eco-friendly industrial packaging, which was used by the Nippon Paint dry-mixed mortar series products. The innovative packaging material is marketed for Nippon Paint's construction dry mortar products, using BASF's water-based acrylic dispersion Joncryl High-Performance Barrier (HPB). It is the first time in China that BASF's water-based barrier coatings will be employed in industrial packaging.
The scope of this report covers the market by its major segments, which include as follows: