Dublin, Aug. 10, 2023 (GLOBE NEWSWIRE) -- The "Dry Mix Mortar Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
According to the report, the Dry Mix Mortar market size is expected to reach 310 kilotons by the end of this year, with a projected compound annual growth rate (CAGR) of over 5% during the forecast period.
Key Highlights
- Post-Pandemic Recovery: The COVID-19 pandemic negatively impacted the dry mix mortar market in 2020. However, the construction sector is now picking up pace in the post-pandemic scenario, leading to an enhanced market demand for dry mix mortar in the coming years.
- Driving Factors: Over the medium term, increasing construction activities in the United States and Asia-Pacific are expected to drive the market's growth. Additionally, the simplified mix and apply operation in dry mix mortar products present blooming opportunities in the market. The emerging trend of green building certifications is also seen as an opportunity for the dry mix mortar market.
- Asia-Pacific Dominance: Asia-Pacific dominated the dry mix mortar market, with significant consumption from countries like China, India, and Japan. China, in particular, is expected to continue dominating the market in the region due to its massive construction market and focus on affordable housing projects.
Dry Mix Mortar Market Trends
- Increasing Demand from the Render Segment: Rendering, which involves coating the exterior surfaces of buildings with a higher proportion of cement, is witnessing an increasing demand for dry mix mortar products. Dry mix mortar provides excellent technical properties and is cost-effective, making it a preferred choice for rendering applications worldwide.
China's Role in the Asia-Pacific Market
- China is Expected to Dominate the Market: China is the largest construction market globally, accounting for 20% of all construction investments. The country is projected to spend nearly USD 13 trillion on buildings by 2030, creating a positive outlook for construction materials, including dry mix mortar. The growing focus on affordable housing and various construction developments is likely to drive market demand in China.
- Challenges Ahead: While China's construction industry is booming, challenges such as the Evergrande crisis and a potential financial crisis may impact the country's economy and construction sector.
Competitor Analysis
The dry mix mortar market is characterized by the presence of various global players and small to medium-sized enterprises. Some of the companies mentioned in the report include:
- 3M
- Ardex Group
- BASF SE
- CEMEX SAB de CV
- Colmef Monneli
- Conmix Ltd
- Grand Aces Ventures Inc.
- Henkel AG & Co. KGaA
- Knauf Gips KG
- Holcim
- Laticrete International Inc.
- MAPEI SpA
- M&P Drymix
- Plaxit
- Saint-Gobain
- Saudi Readymix
- Saudi Vetonit Co. Ltd
- Sika AG
- The Ramco Cements Limited
- UltraTech Cement Ltd
- Wuensch Plaster
Market Outlook
The dry mix mortar market is expected to witness steady growth, driven by increasing construction activities, especially in the United States and Asia-Pacific. The market will benefit from the rising demand for dry mix mortar products for rendering applications. In the Asia-Pacific region, China will continue to dominate the market due to its robust construction sector and focus on affordable housing.
For more information about this report visit https://www.researchandmarkets.com/r/aucoan
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