Dry Mix Mortar Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030

Dry Mix Mortar Market Analysis

The Dry Mix Mortar Market size is estimated at 350.93 million Tons in 2024, and is expected to reach 482.16 million Tons by 2030, growing at a CAGR of 5.44% during the forecast period (2024-2030).

The dry mix mortar industry is experiencing significant transformation driven by substantial infrastructure investments and urbanization trends worldwide. Public spending on infrastructure development continues to surge, as evidenced by China's transport infrastructure investment reaching USD 165.6 billion in 2022, up from USD 157.6 billion in 2021. This increased public expenditure reflects a broader global trend of governments prioritizing infrastructure development to support economic growth. The construction industry is witnessing a shift toward more efficient and sustainable building practices, with dry mix mortars playing a crucial role in achieving these objectives. Additionally, the integration of advanced technologies in construction processes is reshaping traditional building methodologies, leading to improved product formulations and application techniques.

The commercial construction sector is undergoing remarkable expansion, particularly in emerging economies. India's Grade A office market in its top seven cities is set to reach approximately 1 billion square feet by 2026, further expanding to 1.2 billion square feet by 2030, highlighting the robust demand for modern commercial spaces. This trend is accompanied by the rising popularity of mixed-use developments and smart building concepts, which require specialized construction materials including high-performance dry mix mortars. The sector is also witnessing increased adoption of prefabricated construction techniques, where precise material specifications and consistent quality are paramount.

Foreign direct investment (FDI) continues to play a pivotal role in shaping the construction materials market. The United Arab Emirates, for instance, attracted USD 23 billion in FDI in 2022, marking a 10% increase from the previous year, with a significant portion directed toward construction sector development. The establishment of new manufacturing facilities and expansion of existing production capacities are being driven by these investments. Moreover, international collaborations and technology transfers are facilitating the introduction of advanced dry mix mortar formulations and application techniques across regions.

The industry is witnessing a notable shift toward sustainable construction practices and environmentally conscious product development. Manufacturers are increasingly focusing on developing eco-friendly formulations that reduce carbon footprint while maintaining or improving performance characteristics. The global commercial new floor area is projected to increase by 2.50 billion square feet between 2023 and 2030, creating substantial opportunities for sustainable building materials. This transformation is further supported by stringent building regulations and growing awareness of environmental impact among stakeholders, leading to increased demand for green building materials and sustainable construction solutions. The dry construction market size is poised to benefit from these trends, as the demand for innovative and sustainable solutions continues to grow.

Global Dry Mix Mortar Market Trends

Asia-Pacific's surge in large-scale office building projects is set to elevate the global floor area dedicated to commercial construction

• In 2022, the global new floor area for commercial construction witnessed a modest growth of 0.15% from the previous year. Europe stood out with a significant surge of 12.70%, driven by a push for high-energy-efficient office buildings to align with its 2030 carbon emission targets. As employees returned to offices, European companies, resuming lease decisions, spurred the construction of 4.5 million square feet of new office space in 2022. This momentum is poised to persist in 2023, with a projected global growth rate of 4.26%.
• The COVID-19 pandemic caused labor and material shortages, leading to cancellations and delays in commercial construction projects. However, as lockdowns eased and construction activities resumed, the global new floor area for commercial construction surged by 11.11% in 2021, with Asia-Pacific taking the lead with a growth rate of 20.98%.
• Looking ahead, the global new floor area for commercial construction is set to achieve a CAGR of 4.56%. Asia-Pacific is anticipated to outpace other regions, with a projected CAGR of 5.16%. This growth is fueled by a flurry of commercial construction projects in China, India, South Korea, and Japan. Notably, major Chinese cities like Beijing, Shanghai, Hong Kong, and Taipei are gearing up for an uptick in Grade A office space construction. Additionally, India is set to witness the opening of approximately 60 shopping malls, spanning 23.25 million square feet, in its top seven cities between 2023 and 2025. Collectively, these endeavors across Asia-Pacific are expected to add a staggering 1.56 billion square feet to the new floor area for commercial construction by 2030, compared to 2022.

South America's estimated fastest growth in residential constructions due to increasing government investments in schemes for affordable housing to boost the global residential sector

• In 2022, the global new floor area for residential construction declined by around 289 million square feet compared to 2021. This can be attributed to the housing crisis generated due to the shortage of land, labor, and unsustainably high construction materials prices. This crisis severely impacted Asia-Pacific, where the new floor area declined 5.39% in 2022 compared to 2021. However, a more positive outlook is expected in 2023 as the global new floor area is predicted to grow by 3.31% compared to 2022, owing to government investments that can finance the construction of new affordable homes capable of accommodating 3 billion people by 2030.
• The COVID-19 pandemic caused an economic slowdown, due to which many residential construction projects got canceled or delayed, and the global new floor area declined by 4.79% in 2020 compared to 2019. As the restrictions were lifted in 2021 and pent-up demand for housing projects was released, new floor area grew 11.22% compared to 2020, with Europe having the highest growth of 18.28%, followed by South America, which rose 17.36% in 2021 compared to 2020.
• The global new floor area for residential construction is expected to register a CAGR of 3.81% during the forecast period, with South America predicted to develop at the fastest CAGR of 4.05%. Schemes and initiatives like the Minha Casa Minha Vida in Brazil announced in 2023 with a few regulatory changes, for which the government plans an investment of USD 1.98 billion to provide affordable housing units for low-income families, and the FOGAES in Chile also publicized in 2023, with an initial investment of USD 50 million, are aimed at providing mortgage loans to families for affordable housing and will encourage the construction of new residential units.

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Segment Analysis: End Use Sector

Residential Segment in Dry Mix Mortar Market

The residential sector maintains its dominant position in the global dry mix mortar market, commanding approximately 62% of the total market share in 2024. This substantial market presence is driven by extensive applications in housing construction, including tile adhesion, waterproofing, plastering, and rendering work. The segment's strength is bolstered by government initiatives worldwide focusing on affordable housing development, with countries like Indonesia aiming to construct around 1 million housing units by 2025 and Malaysia planning to build approximately 500,000 affordable housing units in the same timeframe. Additionally, the rising trend of home renovation and retrofitting projects, particularly in developed economies where over 40% of building floor area was constructed before 1980, continues to fuel the demand for dry mix mortar in residential applications. Understanding the mortar mix ratio chart is crucial for optimizing these applications.

Commercial Segment in Dry Mix Mortar Market

The commercial construction sector is emerging as the most dynamic segment in the dry mix mortar market, demonstrating robust growth potential through 2029. This accelerated growth is primarily driven by the surge in demand for shopping malls, office spaces, and retail centers across global markets. For instance, India's top seven cities are anticipated to witness the opening of approximately 60 shopping malls, contributing a combined retail space of 23.25 million square feet between 2024 and 2025. The segment's growth is further supported by the increasing adoption of modern construction techniques and the rising emphasis on sustainable building practices, particularly in developing economies where rapid urbanization is driving commercial infrastructure development. The importance of the type O mortar mix ratio cannot be overstated in ensuring structural integrity and longevity.

Remaining Segments in End Use Sector

The industrial and institutional segment, along with the infrastructure sector, play crucial roles in shaping the dry mix mortar market landscape. The industrial and institutional segment primarily caters to manufacturing facilities, healthcare institutions, and educational buildings, where specialized mortars are required for specific applications like chemical resistance and heavy-duty flooring. Meanwhile, the infrastructure sector utilizes dry mix mortars in various applications including bridges, tunnels, metros, and other civil engineering projects. Both segments benefit from increasing government investments in public infrastructure and the growing focus on industrial development across emerging economies. Understanding the dry volume of mortar is essential for these large-scale projects.

Segment Analysis: Application

Render Segment in Dry Mix Mortar Market

Render continues to dominate the global dry mix mortar market, commanding approximately 39% market share in 2024. This significant market position is attributed to render's crucial role in enhancing building exteriors while simultaneously providing essential waterproofing and fireproofing benefits. The segment's prominence is particularly evident in residential and commercial construction sectors, where it serves both functional and aesthetic purposes. The demand is further bolstered by the global residential new floor area expansion, which is projected to reach 36.67 billion square feet by 2030. Render's versatility in application, from basic weatherproofing to decorative finishes, has made it an indispensable component in modern construction practices. The plaster mortar ratio is a key factor in achieving the desired finish and durability.

Tile Adhesive Segment in Dry Mix Mortar Market

The tile adhesive segment is emerging as the most dynamic sector in the dry mix mortar market, demonstrating robust growth potential through 2024-2029. This remarkable growth trajectory is primarily driven by its superior bonding strength characteristics, which effectively prevent common issues like tile shrinkage, breaks, and slippage. The segment's expansion is particularly notable in both residential and commercial construction sectors, where the demand for reliable tile installation solutions continues to rise. The growth is further supported by increasing investments in commercial spaces, particularly in developing regions where modern construction practices are gaining prominence. The segment's success is also attributed to ongoing technological advancements in adhesive formulations, leading to improved performance characteristics and broader application possibilities. Proper mixing mortar techniques are essential for optimizing adhesive performance.

Remaining Segments in Application

The dry mix mortar market encompasses several other significant segments including plaster, waterproofing slurries, grouts, concrete protection and renovation, and insulation and finishing systems. Plaster maintains a substantial presence in the market, particularly in interior applications for walls and ceilings. Waterproofing slurries play a crucial role in ensuring structural durability, especially in regions with high moisture exposure. Grouts are essential for filling voids and providing structural stability, while concrete protection and renovation solutions are vital for maintaining and extending the lifespan of existing structures. The insulation and finishing systems segment continues to gain importance, particularly as energy efficiency requirements become more stringent in construction codes worldwide. Understanding the dry volume of plaster is critical for these applications.

Dry Mix Mortar Market Geography Segment Analysis

Dry Mix Mortar Market in Asia-Pacific

The Asia-Pacific region stands as a dominant force in the global dry mix mortar landscape, driven by robust construction activities across residential, commercial, and infrastructure sectors. Countries like China, India, Japan, and South Korea play pivotal roles in shaping regional demand patterns. The region's growth is fueled by government initiatives supporting affordable housing projects, infrastructure development, and increasing foreign direct investments in construction activities. Notably, countries such as Indonesia, Vietnam, and Thailand are experiencing significant market expansion due to rapid urbanization and industrialization.

Dry Mix Mortar Market in China

China dominates the Asia-Pacific dry mix mortar market, holding approximately 45% market share in 2024. The country's market leadership is attributed to its massive construction sector, encompassing both residential and commercial segments. The Chinese government's strategic focus on new manufacturing facilities, incorporating advanced technologies like artificial intelligence, continues to drive demand. Major cities such as Beijing, Shanghai, Hong Kong, and Taipei are witnessing substantial growth in Grade A office space construction, while residential construction remains robust due to urbanization and population growth.

Dry Mix Mortar Market in Indonesia

Indonesia emerges as the fastest-growing market in the Asia-Pacific region, with a projected growth rate of approximately 7% during 2024-2029. The country's construction sector is experiencing unprecedented growth, driven by ambitious infrastructure initiatives and urban development projects. Under the "Capital City Bill," Indonesia has embarked on a massive project to relocate its capital from Jakarta to Borneo Island, encompassing housing complexes, manufacturing units, and infrastructure development. This relocation project, coupled with increasing foreign investments and government support for construction activities, positions Indonesia as a key growth driver in the regional dry mortar products market.

Dry Mix Mortar Market in Europe

The European mortar market is characterized by significant advancements in sustainable construction practices, with countries like Germany and Italy leading the charge. Germany holds the largest share in the European ready mix mortar market, driven by its robust industrial base and stringent environmental regulations. Italy, on the other hand, is witnessing rapid growth due to increased investments in infrastructure and residential projects. The European market's focus on energy-efficient buildings and eco-friendly materials is expected to drive further demand for dry mix mortar solutions.

Dry Mix Mortar Market in Germany

Germany stands as the largest market in Europe for dry mix mortar, with a market size of 13.1 million tons in 2024. The country's emphasis on sustainable construction and energy efficiency drives demand for innovative mortar solutions. The German government's policies promoting green buildings and the use of eco-friendly materials have further bolstered the market. Additionally, the renovation of existing infrastructure and the development of new residential projects contribute to the growing demand for dry mix mortar products.

Dry Mix Mortar Market in Italy

Italy is the fastest-growing market in Europe, with a CAGR of 5.28% from 2024 to 2029. The country's construction sector is benefiting from increased public and private investments in infrastructure and housing projects. The Italian government's focus on modernizing infrastructure and promoting sustainable urban development is driving demand for dry mix mortar products. As Italy continues to prioritize energy-efficient and environmentally friendly construction practices, the market is poised for significant growth.

Dry Mix Mortar Market in Middle East and Africa

The Middle East and Africa region is witnessing a surge in construction activities, with Saudi Arabia and the UAE leading the growth. Saudi Arabia holds the largest market share in the region, driven by its ambitious Vision 2030 initiative, which aims to diversify the economy and boost infrastructure development. The UAE, with a CAGR of 6.47%, is the fastest-growing market, supported by government investments in smart city projects and sustainable construction practices. The region's focus on modernizing infrastructure and enhancing urban living standards is expected to drive demand for dry mix mortar solutions.

Dry Mix Mortar Market in Saudi Arabia

Saudi Arabia's dry mix mortar market is the largest in the Middle East and Africa, with a market size of 6.9 million tons in 2024. The country's strategic focus on infrastructure development, as part of its Vision 2030 plan, is driving demand for advanced mortar solutions. The construction of new cities, airports, and residential complexes is contributing to the market's growth. Additionally, the government's emphasis on sustainable building practices and the use of eco-friendly materials is expected to further boost the demand for dry mix mortar products.

Dry Mix Mortar Market in UAE

The UAE is the fastest-growing market in the Middle East and Africa, with a CAGR of 6.47% from 2024 to 2029. The country's focus on smart city projects and sustainable urban development is driving demand for dry mix mortar solutions. The UAE government's investments in infrastructure and housing projects, coupled with the adoption of advanced construction technologies, are key factors contributing to the market's rapid growth. As the UAE continues to prioritize sustainable construction practices, the demand for innovative mortar products is expected to rise.

Dry Mix Mortar Market in North America

North America is a significant player in the global dry mix mortar industry, with the United States leading the market. The US holds the largest market share in the region, with a market size of 59.2 million tons in 2024. The country's robust construction sector, driven by residential and commercial projects, is a major contributor to the market's growth. Additionally, the adoption of advanced construction technologies and sustainable building practices is expected to drive further demand for dry mix mortar products in the region.

Dry Mix Mortar Market in South America

Brazil is the largest and fastest-growing market in South America, with a market size of 13 million tons and a CAGR of 5.8% from 2024 to 2029. The country's construction sector is experiencing significant growth, driven by infrastructure development and urbanization. The Brazilian government's investments in housing and infrastructure projects are key factors contributing to the market's expansion. As Brazil continues to focus on modernizing its infrastructure and enhancing urban living standards, the demand for dry mix mortar solutions is expected to increase.

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We provide a complimentary and exhaustive set of data points on global and regional metrics that present the fundamental structure of the industry. Presented in the form of 24+ free charts, the section covers rare data on newly built floor area, infrastructural spending, and existing construction floor area across residential, commercial, industrial and institutional sectors.