Dry Mix Mortar Market Scope
Dry mix mortar has excellent technical properties which are intended for effective and economical repairs to all types of concrete structures. It not only provides a better surface finish but also long-term security for the structures. There are benefits of using dry mix mortar in the industry such as flexural strength, water resistance ability, flexibility, and compressive, among others. Increasing government initiatives for infrastructure development will affect the growth of the market in the future. For instance, in 2019, The National Development and Reform Commission approved 27 projects which are more than 200 billion costs and this project is applied in various cities in China such as Shanghai, and Wuhan, among others.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Largest Market | Asia Pacific |
Unit | Value (USD Billion) |
Key Companies Profiled | ParexGroup SA (France), 3M (United States), Sika AG (Switzerland), Cemex SAB de CV (Mexico), Mapei SpA (Italy), Ardex Group (Germany), DuPont de Nemours, Inc. (United States), Saint-Gobain Weber (India), BASF SE (Germany) and LafargeHolcim Ltd (Switzerland) |
CAGR | 5.4% |
The market is highly fragmented with the presence of various players in the market. Some of the major players are ParexGroup SA (France), 3M (United States), Sika AG (Switzerland), among others. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Dry Mix Mortar market throughout the predicted period.
ParexGroup SA (France), 3M (United States), Sika AG (Switzerland), Cemex SAB de CV (Mexico), Mapei SpA (Italy), Ardex Group (Germany), DuPont de Nemours, Inc. (United States), Saint-Gobain Weber (India), BASF SE (Germany) and LafargeHolcim Ltd (Switzerland) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are CCC DRYMIX (United Arab Emirates), Colmef Construction Chemicals (United Arab Emirates) and Conmix Ltd. (United Arab Emirates).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Dry Mix Mortar market by Type , by Application (Plaster, Render, Grout, Waterproofing, Tile Adhesive and Others) and Region with country level break-up.
On the basis of application, Render segment is dominating the market and held 42.0% of market share in the year 2022
On the basis of geography, the market of Dry Mix Mortar has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Malaysia, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In October 2023, Sika, a leading Swiss construction chemicals company, acquired Parex's Indian business. This move expands Sika's footprint in the rapidly growing Indian construction market and gives them access to Parex's well-established dry mix mortar product line.
In August 2023, Building materials giant Saint-Gobain completed the acquisition of Weber's North American business, strengthening its position in the region's dry mix mortar market. This deal is expected to create a formidable competitor in the space.
Influencing Trend:
Technology Advancement in Dry Mix Mortar Products
Market Growth Drivers:
Rising Usage of Dry Mix Mortar in the Construction Industry and Rise in Disposal Income in Developing Countries
Challenges:
Lack of Awareness in Developing Economies
Restraints:
High Prices of Dry Mix Mortars as Compared to Conventional Mortars
Opportunities:
Government Initiative to Promote Dry Mix Mortar Market and Rising Demand from Emerging markets such as China, India, and Brazil, among others
Key Target Audience
Manufacturers of Dry Mix Mortar, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others