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Study Period | 2019 - 2030 |
Base Year For Estimation | 2024 |
Forecast Data Period | 2025 - 2030 |
Market Volume (2025) | 10.54 Million tons |
Market Volume (2030) | 13.45 Million tons |
CAGR | 5.00 % |
Market Concentration | Medium |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
ASEAN Dry Mix Mortar Market Analysis
The ASEAN Dry Mix Mortar Market size is estimated at 10.54 million tons in 2025, and is expected to reach 13.45 million tons by 2030, at a CAGR of greater than 5% during the forecast period (2025-2030).
The ASEAN construction sector is experiencing significant transformation driven by massive infrastructure development initiatives across the region. Singapore's Building and Construction Authority (BCA) projects the total construction demand in 2023 to range between SGD 27 billion and SGD 32 billion, with the public sector expected to contribute about 60% of the total demand. This surge in construction activities is primarily attributed to a continued strong pipeline of public housing projects amid the Housing Development Board's ramping up of build-to-order (BTO) flats supply. The industrial and institutional building construction sector is also witnessing robust growth, with more projects for water treatment plants, educational buildings, and community facilities being initiated.
Infrastructure modernization efforts are gaining momentum across ASEAN countries, with Indonesia leading significant developments. The Indonesian government has committed an investment of IDR 466 trillion for constructing its new capital city on the island of Borneo, which will be developed over the next decade. Thailand is also initiating ambitious projects, including the USD 8.8 billion airport city development that involves transforming the Vietnam War-era U-Tapao airport into the country's third main international airport. These large-scale infrastructure projects are creating substantial opportunities for construction material manufacturers and suppliers, particularly in the dry mix mortar market.
The industrial sector across ASEAN is witnessing remarkable expansion, particularly in Vietnam and Indonesia. Vietnam launched USD 520 million worth of industrial parks in Binh Thuan province, covering 10 square kilometers, which will serve various sectors from building materials to food processing upon completion in 2025. The manufacturing sector's growth is further evidenced by significant investments in new production facilities, such as LEGO Group's USD 1 billion manufacturing plant investment in Vietnam's Binh Duong province, scheduled for completion in 2024. This industrial expansion is creating sustained demand for construction materials and solutions, including dry mix mortar products.
Technological advancement in construction practices is reshaping the industry landscape across ASEAN countries. Thailand's USD 3.5 billion smart building project, commonly referred to as the country's 'most comprehensive real estate project,' has achieved the highest certification score possible for digital connectivity and smart building from WiredScore. The project, with an investment value of over THB 120 billion, represents a significant shift towards sustainable and technologically advanced construction practices. This trend towards smart construction is driving the adoption of advanced building materials and techniques, including specialized dry mix mortars that offer superior performance characteristics.
ASEAN Dry Mix Mortar Market Trends
Growing Infrastructure Development and Public Investment
The ASEAN region is witnessing substantial public investment in infrastructure development, driving the demand for dry mix mortar products. In the Philippines, public infrastructure investment has shown remarkable growth, increasing from 4.4% of GDP in 2017 to 6.3% of GDP in 2022, according to the Department of Budget and Management. This commitment to infrastructure development is further evidenced by the country's recent agreement with South Korea in December 2022, securing a USD 3 billion loan for infrastructure and road projects planned for execution between 2022 and 2026. The agreement represents a threefold increase compared to the previous contract value from 2017 to 2022, indicating a significant scaling up of infrastructure development activities.
Indonesia's infrastructure sector is experiencing unprecedented growth, with the Ministry of Finance announcing an ambitious infrastructure investment budget target of USD 430 billion by 2024, a substantial increase from USD 365.8 billion invested in 2022. The commitment to sustainable infrastructure development is reinforced by the Indonesian-German Initiative for Green Infrastructure, which has established a five-year financial cooperation facility providing low-interest loans and promotional loans of up to USD 2.73 billion to support infrastructure projects. These significant investments in public infrastructure projects across the ASEAN region are creating substantial demand for construction materials, particularly dry mix mortar products, due to their superior technical properties and cost-effectiveness in meeting stringent performance requirements.
Rising Residential Construction Activities
The residential construction sector across ASEAN countries is experiencing significant growth, driven by increasing urbanization and government initiatives supporting housing development. In Indonesia, the Ministry of Public Works and Public Housing (PUPR) has implemented strategic measures to boost domestic housing construction, establishing Housing Provision Implementation Centers (P2P) in 19 provinces and Housing Provision Work Units (Satker) across 34 provinces. This extensive network of housing development centers demonstrates the government's commitment to expanding residential construction activities while promoting the use of domestic construction materials, including premixed dry mortar products.
The development of new residential projects is further exemplified by Indonesia's ambitious plan to construct a new capital city on the island of Borneo, with an investment of IDR 466 trillion. This massive undertaking, scheduled to span over ten years, encompasses extensive residential development components that will require significant quantities of construction materials. The use of dry mix mortar products is particularly advantageous in these large-scale residential projects due to their precise material blending, improved workability, and ability to reduce potential construction problems while ensuring long-term structural integrity through a simplified materials approach.
Expanding Commercial Construction Projects
The commercial construction sector in the ASEAN region is experiencing robust growth, particularly driven by the tourism and hospitality industry. Thailand, as one of the largest tourism hubs in the region, is witnessing substantial investments in commercial infrastructure development, especially in the hospitality sector. A prime example is the Pattaya Marriott Marquis Hotel project, which is set to become operational by 2024 with over 900 guest rooms. This development is part of a larger dual-property project that includes the 398-room JW Marriott and the Pattaya Beach Resort & Spa, demonstrating the scale of commercial construction activities in the region. Marriott's expansion plans include adding four new hotels under three of its brands across Bangkok and Pattaya by 2027, adding to its existing portfolio of 45 hotels and resorts in Thailand.
The commercial construction sector's growth is characterized by the increasing adoption of premixed dry mortar products, which provide excellent technical properties essential for meeting the stringent performance requirements of modern commercial buildings. These products are particularly valuable in commercial construction due to their ability to achieve smooth or deliberately textured surfaces through rendering applications, a crucial requirement in almost all commercial construction projects. The economic advantages of using dry mix mortar products, combined with their special additives that improve workability, enhance bonding, and reduce cracking risks, make them increasingly popular in commercial construction projects across the ASEAN region.
Segment Analysis: By End-User Industry
Residential Segment in ASEAN Dry Mix Mortar Market
The residential segment dominates the ASEAN dry mix mortar market, accounting for approximately 64% of the total market share in 2024. This segment's prominence is driven by extensive residential construction activities across major ASEAN economies, particularly in Indonesia, Vietnam, and Singapore. The segment's growth is further supported by increasing government initiatives promoting affordable housing development, rising household income levels, and continued urbanization trends across the region. For instance, Singapore's property market remains robust with over 30 new residential project launches expected to add 10,000 to 12,000 new homes. Similarly, Indonesia's ambitious plan to construct apartments worth USD 2.7 billion for civil servants relocating to the new capital city, Nusantara, demonstrates the strong momentum in residential construction. The segment's dominance is also reinforced by Vietnam's national housing development strategy for 2021-2030, which aims to construct 1 million apartments, including social housing and manufacturing worker accommodations.
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Non-Residential Segment in ASEAN Dry Mix Mortar Market
The non-residential segment, encompassing commercial, infrastructure, and industrial/institutional applications, plays a vital role in the ASEAN dry mix mortar market. This segment is driven by significant investments in commercial spaces, infrastructure development, and industrial facilities across the region. The commercial sector is witnessing substantial growth through the development of shopping malls, hotels, and office complexes, particularly in countries like Thailand and Indonesia. Infrastructure projects, including transportation networks and public facilities, continue to drive demand for dry mix mortar products. The industrial/institutional sector is experiencing growth through investments in manufacturing facilities, educational institutions, and healthcare facilities. The segment's development is supported by various government initiatives and foreign direct investments across ASEAN countries, contributing to the overall market expansion.
Segment Analysis: By Application
Renders Segment in ASEAN Dry Mix Mortar Market
The renders segment dominates the ASEAN dry mix mortar market, accounting for approximately 40% of the total market share in 2024. This significant market position is attributed to renders' widespread use in coating exterior surfaces of buildings to enhance façade appearance while providing essential waterproof and fireproof benefits. The segment's dominance is further strengthened by the increasing construction activities across the ASEAN region, particularly in countries like Indonesia, Vietnam, and Singapore, where renders are extensively used to achieve smooth or deliberately textured surfaces in almost all construction applications. The segment's growth is supported by the strong labor market, robust housing sector, and steady flow of foreign direct investments in the region's construction industry.
Tile Adhesives Segment in ASEAN Dry Mix Mortar Market
The tile adhesives segment is projected to witness the fastest growth in the ASEAN dry mix mortar market during 2024-2029, with an expected growth rate of approximately 6%. This accelerated growth is driven by the segment's versatile applications and superior properties, including high bonding strength and enhanced durability. The increasing adoption of tile adhesives in both residential and commercial construction projects across ASEAN countries, particularly in regions where concrete construction dominates, is fueling this growth. Government regulations specifying performance requirements for ceramic tile adhesives, coupled with the growing preference for ready-to-use mixtures that ensure consistent quality and reduce wastage, are further propelling the segment's expansion.
Remaining Segments in ASEAN Dry Mix Mortar Market by Application
The other significant segments in the ASEAN dry mix mortar market include plaster, waterproofing slurry, concrete protection and renovation, insulation and finishing systems, grout, and other applications. Plaster maintains a substantial market presence due to its essential role in interior finishing and wall protection. Waterproofing slurry segments are gaining importance in construction projects requiring moisture protection, while concrete protection and renovation products are crucial for infrastructure maintenance. The insulation and finishing systems segment is driven by increasing focus on energy efficiency in buildings, while grout products serve specific needs in tile installation and joint filling applications. Each of these segments contributes uniquely to the market's diversity and serves specific construction requirements across the ASEAN region.
ASEAN Dry Mix Mortar Market Geography Segment Analysis
ASEAN Dry Mix Mortar Market in Indonesia
Indonesia maintains its position as the dominant force in the ASEAN dry mix mortar market, commanding approximately 21% of the total market share in 2024. The country's construction sector has been experiencing significant momentum, particularly driven by the government's commitment to infrastructure development and housing initiatives. The Ministry of Public Works and Housing has been actively promoting the usage of Domestic Component Level (TKDN) housing products, which has positively impacted the adoption of locally-manufactured dry mix mortar. The country's focus on developing quality infrastructure, including the ongoing construction of the new capital city Nusantara, has created substantial demand for construction materials. Additionally, Indonesia's strategic approach to attracting foreign direct investment in the construction sector, coupled with various ongoing residential and commercial projects, has further strengthened its market position. The country's emphasis on sustainable urban development and the implementation of modern construction techniques has also contributed to the increased adoption of dry mix mortar products.
ASEAN Dry Mix Mortar Market in the Philippines
The Philippines emerges as the most dynamic market in the ASEAN region, with a projected growth rate of approximately 6% during 2024-2029. The country's construction sector has been witnessing remarkable transformation, driven by ambitious government initiatives and increasing private sector participation. The Department of Public Works and Highways (DPWH) has been actively promoting infrastructure development, creating numerous opportunities for dry mix mortar applications. The Technical Education and Skills Development Authority's collaboration with the Philippine Constructors Association to produce skilled construction workers further supports market growth. The country's robust pipeline of commercial projects, including mixed-use developments and residential complexes, continues to drive demand. The government's commitment to addressing housing shortages through various programs and initiatives has created additional momentum for the dry mix mortar market. Furthermore, the increasing adoption of modern construction techniques and the growing awareness of the benefits of pre-mixed construction materials have been instrumental in market expansion.
ASEAN Dry Mix Mortar Market in Vietnam
Vietnam has established itself as a crucial market for dry mix mortar products, supported by its rapidly evolving construction landscape. The country's construction industry stands out as one of the best-performing sectors in the Asia-Pacific region, with consistent growth in both residential and commercial segments. The government's national housing development strategy for 2021-30 has created significant opportunities for dry mix mortar manufacturers. The country has also witnessed substantial investments in industrial parks and mixed-use developments, particularly in major economic zones. Vietnam's emergence as a preferred destination for global firms establishing their industrial and manufacturing bases has further accelerated market growth. The increasing focus on quality construction materials, coupled with the growing trend of sustainable building practices, has led to higher adoption of dry mix mortar products. Additionally, the country's robust pipeline of infrastructure projects and the development of smart cities have created sustained demand for construction materials.
ASEAN Dry Mix Mortar Market in Thailand
Thailand's dry mix mortar market continues to demonstrate strong potential, driven by its position as a major tourist destination and its ongoing infrastructure development initiatives. The country's construction sector has been witnessing significant investments in the expansion and construction of luxury hotels, malls, and commercial complexes. The government's focus on developing transportation infrastructure, including airport city projects and smart building initiatives, has created substantial opportunities for dry mix mortar applications. Thailand's emphasis on sustainable construction practices and the increasing adoption of modern building materials have further strengthened market growth. The country's strategic location and its role as a regional economic hub have attracted significant investments in commercial and residential projects. Additionally, the government's initiatives to promote tourism infrastructure development and urban renewal projects have contributed to the sustained demand for construction materials.
ASEAN Dry Mix Mortar Market in Other Countries
The remaining ASEAN countries, including Singapore, Malaysia, Cambodia, Myanmar, and other regional markets, collectively represent a significant segment of the dry mix mortar market. These markets are characterized by varying levels of construction activity and economic development. Singapore, with its focus on sustainable urban development and high-quality construction standards, maintains a steady demand for premium dry mix mortar products. Malaysia's construction sector benefits from government initiatives and foreign direct investment in infrastructure projects. Cambodia and Myanmar are emerging as promising markets, driven by urbanization and increasing construction activities. The development of new residential projects, commercial complexes, and infrastructure initiatives across these countries continues to create opportunities for dry mix mortar manufacturers. The growing awareness of modern construction materials and techniques, coupled with increasing investments in construction projects, suggests positive growth prospects for these markets.
ASEAN Dry Mix Mortar Industry Overview
Top Companies in ASEAN Dry Mix Mortar Market
The ASEAN dry mix mortar market features prominent players like Sika AG, Saint-Gobain, Mapei SpA, and several regional manufacturers. Companies are heavily investing in research and development to create innovative products with enhanced performance characteristics, particularly focusing on sustainable and eco-friendly formulations. Operational excellence is being achieved through strategic manufacturing facility placements and robust distribution networks across key ASEAN markets. Market leaders are pursuing aggressive expansion strategies through both organic growth and strategic acquisitions, particularly in high-growth markets like Indonesia, Vietnam, and Thailand. The industry witnesses continuous product portfolio enhancement, with companies developing specialized mortars for specific applications while simultaneously working on improving existing product lines to meet evolving construction industry demands.
Market Structure Shows Regional Leadership Dominance
The ASEAN dry mix mortar market exhibits a blend of global conglomerates and regional specialists, with multinational companies holding significant market share in mortar through their established brands and extensive distribution networks. Global players like Sika AG and Saint-Gobain have strengthened their position through strategic acquisitions of local manufacturers, enabling them to combine international expertise with local market knowledge. The market structure is characterized by moderate consolidation, with larger players continuously expanding their presence through manufacturing facility investments and distribution partnership developments across the region.
The competitive dynamics are shaped by the presence of strong regional players who maintain their market position through deep local market understanding and established customer relationships. Merger and acquisition activities have been particularly notable in key markets like Indonesia and Malaysia, where global players have acquired local manufacturers to expand their manufacturing capabilities and market reach. The industry also sees collaboration between companies for manufacturing operations, as evidenced by partnerships like Greco Asia's collaboration with Mutual Deals for manufacturing operations.
Innovation and Sustainability Drive Future Success
Success in the ASEAN dry mix mortar market increasingly depends on companies' ability to develop innovative, sustainable products while maintaining cost competitiveness. Incumbent players are focusing on expanding their eco-friendly product portfolios, investing in advanced manufacturing technologies, and strengthening their distribution networks to maintain market leadership. Companies are also emphasizing research and development capabilities to develop products that meet specific regional requirements while complying with evolving construction industry standards and environmental regulations.
For emerging players and contenders, market penetration strategies center around developing specialized products for specific applications and establishing strong relationships with key construction industry stakeholders. The market presents moderate substitution risks from alternative construction materials and methods, making product differentiation and value proposition crucial for success. Regulatory frameworks across ASEAN countries, particularly regarding construction materials' environmental impact and safety standards, are becoming more stringent, requiring companies to adapt their product development and manufacturing processes accordingly. Success also increasingly depends on companies' ability to provide comprehensive technical support and after-sales services to maintain customer loyalty.
ASEAN Dry Mix Mortar Market Leaders
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Sika AG
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MAPEI S.p.A.
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LATICRETE International, Inc.
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Saint Gobain
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Siam City Cement Group
- *Disclaimer: Major Players sorted in no particular order
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ASEAN Dry Mix Mortar Market News
- The recent developments pertaining to the major players in the market are being covered in the complete study.
ASEAN Dry Mix Mortar Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Long-term Cost-effectiveness in the Construction Industry
- 4.1.2 Increasing Construction Activities in ASEAN Countries
- 4.1.3 Other Drivers
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4.2 Restraints
- 4.2.1 Laying Cost of Dry Mix Mortar, in Comparison to Conventional Mortar
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 End-user Industry
- 5.1.1 Residential
- 5.1.2 Non-residential
- 5.1.2.1 Commercial
- 5.1.2.2 Infrastructure
- 5.1.2.3 Industrial
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5.2 Application
- 5.2.1 Plaster
- 5.2.2 Render
- 5.2.3 Tile Adhesive
- 5.2.4 Grout
- 5.2.5 Water Proofing Slurry
- 5.2.6 Concrete Protection and Renovation
- 5.2.7 Insulation and Finishing Systems
- 5.2.8 Other Applications (Bonding Mortar, External plaster, etc.)
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5.3 Geography
- 5.3.1 Malaysia
- 5.3.2 Indonesia
- 5.3.3 Thailand
- 5.3.4 Singapore
- 5.3.5 Philippines
- 5.3.6 Vietnam
- 5.3.7 Myanmar
- 5.3.8 Rest of ASEAN Countries
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 3M
- 6.4.2 Ardex Group
- 6.4.3 BASF SE
- 6.4.4 Greco Asia Sdn Bhd
- 6.4.5 Henkel AG & Co. KGaA
- 6.4.6 HOLCIM
- 6.4.7 Knauf Gips KG
- 6.4.8 LATICRETE International, Inc.
- 6.4.9 MAPEI S.p.A.
- 6.4.10 PT INDOCEMENT TUNGGAL PRAKARSA Tbk.
- 6.4.11 Saint Gobain
- 6.4.12 Siam City Cement Group
- 6.4.13 Sika AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing Production Capacity of Industrially Mixed Dry Mix Mortar in Indonesia
- 7.2 Other Opportunities
ASEAN Dry Mix Mortar Industry Segmentation
Dry mix mortar is produced by mixing various raw materials, including sand, limestone powder, binders like cement, hydrated lime, white cement, and gypsum, and additives like methylcellulose, synthetic resin, hydrophobic agent, and others.
The ASEAN dry mix mortar market is segmented by application, end-user industry, and geography. By application, the market is segmented into plaster, render, tile adhesive, grout, waterproofing slurry, concrete protection and renovation, insulation and finishing systems, and other applications (bonding mortar, external plaster, etc.). By end-user industry, the market is segmented into residential and non-residential. The report also covers the size and forecasts for the market in seven countries across the region. For each segment, the market sizing and forecasts are based on volume (tons).
End-user Industry | Residential | ||
Non-residential | Commercial | ||
Infrastructure | |||
Industrial | |||
Application | Plaster | ||
Render | |||
Tile Adhesive | |||
Grout | |||
Water Proofing Slurry | |||
Concrete Protection and Renovation | |||
Insulation and Finishing Systems | |||
Other Applications (Bonding Mortar, External plaster, etc.) | |||
Geography | Malaysia | ||
Indonesia | |||
Thailand | |||
Singapore | |||
Philippines | |||
Vietnam | |||
Myanmar | |||
Rest of ASEAN Countries |
ASEAN Dry Mix Mortar Market Research FAQs
How big is the ASEAN Dry Mix Mortar Market?
The ASEAN Dry Mix Mortar Market size is expected to reach 10.54 million tons in 2025 and grow at a CAGR of greater than 5% to reach 13.45 million tons by 2030.
What is the current ASEAN Dry Mix Mortar Market size?
In 2025, the ASEAN Dry Mix Mortar Market size is expected to reach 10.54 million tons.
Who are the key players in ASEAN Dry Mix Mortar Market?
Sika AG, MAPEI S.p.A., LATICRETE International, Inc., Saint Gobain and Siam City Cement Group are the major companies operating in the ASEAN Dry Mix Mortar Market.
What years does this ASEAN Dry Mix Mortar Market cover, and what was the market size in 2024?
In 2024, the ASEAN Dry Mix Mortar Market size was estimated at 10.01 million tons. The report covers the ASEAN Dry Mix Mortar Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the ASEAN Dry Mix Mortar Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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ASEAN Dry Mix Mortar Market Research
Mordor Intelligence offers extensive expertise in analyzing the dry mix mortar market. We provide comprehensive insights into this dynamic industry. Our research thoroughly examines the ASEAN region's dry mix mortar sector. This includes detailed mortar country analyses and emerging trends. The report covers various segments, such as color mortar market developments and technological innovations. It is available in an easy-to-download report PDF format.
Our detailed analysis benefits stakeholders across the value chain, from manufacturers to end-users. It provides actionable intelligence on premixed dry mortar specifications and market dynamics. The report delivers valuable insights into regional manufacturing capabilities, consumption patterns, and growth opportunities across the ASEAN region. Stakeholders gain access to comprehensive data analysis, competitive landscape evaluation, and strategic recommendations. This supports informed decision-making in the evolving market landscape.