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Dry Mortar Market To Reach USD 66.43 Billion By Year 2032

The global Dry Mortar market size was valued at USD 40.20 Billion in 2023, and is projected to reach USD 66.43 Billion by 2032, registering a CAGR of 5.74% from 2024 to 2032.

05-07-2024
shashidhar kotian
Manufacturing and Construction
Pristine Intelligence LLP

According to a new report published by Pristine Intelligence LLP, titled, “Dry Mortar Market by Industry and Application: Global Opportunity Analysis and Industry Forecast, 2024–2032,” the global Dry Mortar market size was valued at USD 40.20 Billion in 2023, and is projected to reach USD 66.43 Billion by 2032, registering a CAGR of 5.74% from 2024 to 2032. Dry mortar is a pre-mixed blend of cement, sand, and other additives used in construction activities like bricklaying, plastering, rendering, and tile fixing. It simplifies the construction process and ensures consistent quality. Dry mortar is used in both interior and exterior projects due to its versatility and ease of use. Its advantages include convenience, efficiency, and cost-effectiveness. It saves time and labor costs by adding water, resulting in superior bonding and finish. Its shelf life allows for better inventory management and less waste, contributing to sustainable building practices. The future demand for dry mortar is expected to grow due to the increasing emphasis on quality construction and faster project completion.  

According to The Dry Mortar Market is segmented into Industry, Application, and Region. By Type, the market is categorized into Commercial, Industrial and Institutional, Infrastructure, and Residential. By Application, the market is categorized into Concrete Protection and Renovation, Grouts, Insulation, Finishing Systems, Plaster, Render, Tile Adhesive, and Water Proofing Slurries. By Region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

The dry mortar market is experiencing significant growth due to the increasing demand for efficient and reliable construction materials in urban development. This market, which consists of cement, sand, and additives, is crucial for enhancing project timelines and durability. Emerging economies like India are experiencing a surge in demand for dry mortar, as it streamlines construction processes, meets modern safety, speed, and sustainability standards, and enhances structural resilience.  

The dry mortar market is expanding due to the growing focus on eco-friendly construction. Dry mortar, made up of cement, sand, and additives, is aligned with sustainable building practices, reducing environmental impact. This shift is driven by regulatory requirements and consumer preferences for greener materials. Dry mortar is favored for its ability to contribute to green building certifications like LEED, which recognize buildings with high environmental performance standards. This adaptability appeals to environmentally conscious consumers and developers seeking to enhance their projects' sustainability credentials.

Global Dry Mortar Market, Segmentation

The Dry Mortar market is segmented based on Industry, Application, and Region.

Industry:

The non-residential segment is expected to drive the growth of the dry mortar market, particularly in commercial, institutional, and industrial construction projects. Dry mortar, made from cement, sand, and additives, streamlines building processes and enhances structural durability. Urbanization drives demand for new commercial spaces and infrastructure, making it a key driver in the market expansion. Urban centers in Asia and the Middle East are adopting dry mortar solutions for office buildings, educational institutions, and healthcare facilities, highlighting its versatility and cost-efficiency.

Application:

The plaster segment is the largest contributor to the growth of the dry mortar market, driven by its versatility and durability. It is used in construction for finishing interior walls and ceilings, offering smooth surfaces and functional benefits like sound insulation and fire resistance. The growth is driven by increasing construction activities worldwide, particularly in residential and commercial sectors. In North America and Europe, the plaster segment continues to expand due to advancements in dry mortar technology and the preference for sustainable building materials. The plaster segment is poised to maintain its leading position in the global dry mortar market.

Region:

The Asia Pacific is expected to dominate the dry mortar market due to rapid expansion in the construction industry, urbanization, infrastructure development, and investments in residential, commercial, and industrial sectors. Dry mortar, made from cement, sand, and additives, is gaining traction due to its efficiency in meeting diverse building needs. Countries like China, India, and Southeast Asia are driving market growth, supported by government initiatives. China's urbanization and infrastructure projects demand efficient construction materials like dry mortar, offering reduced construction time and enhanced structural integrity. As Asia Pacific leads global economic growth, its dominance in the dry mortar market is expected to strengthen.

Some of The Leading/Active Market Players Are-

  • Sto Corp (USA)
  • Cemex (USA)
  • HB Fuller (USA)
  • Dryvit Systems (USA)
  • Custom Building Products (USA)
  • Saint-Gobain Weber (France)
  • Bostik (France)
  • Henkel (Germany)
  • Ardex (Germany)
  • Knauf (Germany), and Other Active Players

Key Industry Developments

  • In February 2023, Sika successfully closed its acquisition of MBCC Group, generating CHF 2.1 billion in net sales in 2022. The acquisition is expected to generate annual synergies of CHF 160-180 million by 2026. The combined innovation power of Sika and MBCC will accelerate the sustainable transformation of the entire construction industry. Sika is set to reach sales of over CHF 12 billion in 2023. The acquisition strengthens Sika's footprint across all regions and drives the sustainable transformation of the construction industry.
  • In July 2023, Sika agreed to acquire a leading manufacturer of tile setting materials operating under the umbrella brand Chema in Peru. The acquisition strengthens Sika’s position in the fast-growing mortar market and provides major cross-selling opportunities through increased presence in the distribution channel. In addition, it significantly extends Sika’s manufacturing footprint.

Key Findings of the Study 

  • The global dry mortar market, valued at USD 40.20 Billion in 2023, is projected to reach USD 66.43 Billion by 2032, growing at a CAGR of 5.74% from 2024 to 2032
  • Dry mortar is widely used in various construction applications such as concrete protection, renovation, grouts, insulation, plaster, render, tile adhesive, and waterproofing slurries, supporting both interior and exterior construction needs.
  • The trend towards eco-friendly construction materials, particularly dry mortar, is gaining popularity due to its alignment with sustainability practices and its potential to contribute to green building certifications.
  • The Asia Pacific region is set to dominate the dry mortar market due to rapid urbanization, infrastructure development, and government support, with China, India, and Southeast Asia being key contributors.  
Pristine Intelligence LLP

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