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Selbyville, Delaware, May 05, 2021 (GLOBE NEWSWIRE) —
Global Market Insights Inc. has recently added a new report on the dry mix mortar market which estimates the market valuation for dry mix mortar will cross US$ 49.73 billion by 2027. The rising residential and non-residential construction across the globe will spur industry growth between 2021 and 2027. Additionally, emerging applications of dry mix mortar in the commercial and infrastructural sectors due to its cost-effectiveness and excellent workability are expected to offer new growth opportunities to the industry in the coming years.
In 2020, render was the largest segment that accounted for around 41% share in the global dry mix mortar market. Growing construction activities in India, China, and the U.S. are expected to boost the applications of dry mix mortar for rendering and plastering. Furthermore, the rising applications of dry mix mortar for waterproofing are expected to grow substantially owing to its superior properties such as excellent water resistance and good flexural & tensile strength.
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The non-residential segment will account for around 67% share in the global dry mix mortar market in 2027. The market is witnessing surging applications of dry mix mortar in commercial, industrial, and infrastructural activities in both developed and emerging countries. Furthermore, rapid urbanization in developing economies is one of the key factors driving product demand in the non-residential sector. The residential segment will grow substantially owing to the surging construction industry and growing disposable incomes in developing countries, which is likely to escalate the consumption of dry mix mortars in residential buildings. Additionally, the rising application of dry mix mortars as tile adhesives in the residential sector is likely to boost industry growth.
Asia Pacific market is likely to grow at a CAGR of 6.2% from 2021 to 2027. Surging residential construction and infrastructural activities in developing countries, such as China and India, are projected to expand the demand for dry mix mortars. Additionally, the increasing applications of dry mix mortars in the commercial sector will further support the market growth.
North America dry mix mortar market is anticipated to grow considerably owing to the emerging applications of commercial areas such as hotels, institutions, and resorts. Additionally, growing residential construction activities in the U.S. are likely to offer new growth opportunities.
The growing demand for dry mix mortars with excellent properties in residential & non-residential buildings will positively contribute to the overall industry. Key players, such as LafargeHolcim and Sika AG, are majorly focusing on expanding their production capacities in developing countries. For instance, in March 2019, Sika AG announced the opening of a mortar production facility at its current factory in Dakar, Senegal, West Africa to expand its production capacity. Initially, the plant will produce grouts, tile adhesives, concrete repair & waterproofing mortars, and cementitious flooring solutions. Sika’s expansion plan aims to boost its market share in the booming construction market, which is one of the country’s most important economic sectors.
Some of the major findings in the dry mix mortar market report include:
- The render segment accounted for the largest share in the global dry mix mortar market. The segment is projected to grow at a CAGR of over 5.5% from 2021 – 2027.
- Dry mix mortar is widely used in non-residential construction such as infrastructure, institutional, commercial, and industrial. The non-residential segment is projected to grow at the CAGR of 5.5% during the forecast period.
- Major industry players are majorly focusing on expanding their production capacities and strategic alliances, such as acquisitions, partnerships, collaborations & joint ventures, to hold a market share in the industry.
- The market is highly fragmented, with presence of big, medium, and small players, and new entrants face a medium to high barrier to entry due to the high capital investment required.
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Partial chapters of report table of contents (TOC):
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
3.6.2 Europe
3.6.3 Asia Pacific
3.6.4 Latin America
3.6.5 MEA
3.7 Cost structure analysis
3.8 Regulatory landscape
3.8.1 U.S.
3.8.2 Europe
3.8.3 China
3.9 Industry impact forces
3.9.1 Growth driver
3.9.1.1 Strong growth in the infrastructural industry
3.9.1.2 Rising consumption of dry mix mortar in the Asia Pacific
3.9.2 Industry pitfalls & challenges
3.9.2.1 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
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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