Ready Mix Mortars Market By Sales Channel (Online, Offline), By Application (Waterproofing Mortar, Concrete Repair & Protection Mortars, Others) By End User (Residential, Non-Residential) : Global Opportunity Analysis and Industry Forecast, 2024-2033
The ready mix mortars market was valued at $48.7 billion in 2023, and is projected to reach $90.6 billion by 2033, growing at a CAGR of 6.4% from 2024 to 2033.
Ready mix mortar is a pre-mixed formulation of sand, cement, and other essential components that ensure consistency in construction projects. This product ensures uniformity, reduces material waste, and enhances work efficiency, making it an ideal choice for both residential and commercial projects. By offering superior bonding strength and durability, ready mix mortar caters to the evolving needs of the construction industry, promoting streamlined operations and ensuring reliable performance.
The growth of the global ready mix mortars market is majorly driven by expansion of the construction industry, including residential, commercial, and industrial sectors. In addition, rapid urbanization and rise in preference of prefabrication and modular construction methods, which rely heavily on ready mix mortars for their consistent quality and ease of use, notably contribute toward the market growth. As per the estimates of the World Bank Group, 2023, presently, approximately 4.4 billion inhabitants live in urban areas. The world's urban population is expected to reach 6 billion by 2045, thus driving significant construction activities in cities and urban centers. Moreover, increase in emphasis on energy-efficient buildings is fostering the demand for ready mix mortars that contribute to better insulation and energy performance of structures. Furthermore, rise in adoption of sustainable practices is significantly contributing toward the market growth. For instance, products incorporating recycled materials, low-volatile organic compounds additives, and those that reduce carbon footprints are gaining popularity. According to the Global Alliance for Buildings and Construction, buildings account for nearly 39% of global carbon emissions. The push for greener building materials, including eco-friendly ready mix mortars, is expected to reduce emissions by up to 30% by 2030. However, high initial investment costs associated with ready mix mortar production acts as the key deterrent factor of the global market. On the contrary, manufacturers are focusing on the development and use of advanced chemical additives that improve properties such as workability, setting time, and strength are on the rise. This includes innovations like self-healing mortars and mortars with enhanced insulation properties. Such developments are expected to open new avenues for the growth of the global market during the forecast period.
The global ready mix mortars market overview is segmented into sales channel, application, and end user. By sales channel, the market is bifurcated into online and offline. On the basis of application, it is categorized into waterproofing mortar, concrete repair & protection mortars, and others. Depending on end user, it is classified into residential and non-residential. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and Latin America, and Middle East & Africa.
Key FindingsBy sales channel, in 2023, the offline segment held the highest share in the ready mix mortar market.
On the basis of application, the concrete repair & protection mortars segment was the major shareholder in 2023.
Depending on end user, the non-residential segment exhibited the highest growth, in terms of share, in 2023.
Region wise, Asia-Pacific is expected to maintain its dominance in the ready mix mortar market by 2033.
Competition AnalysisCompetitive analysis and profiles of the major players in the global ready mix mortars market include Heidelberg Cement AG, MBCC Group, Inc., Cemex Concrete, Tremco CPG Inc., Saint-Gobain, Ardex Group, Travis Perkins plc., Laticrete International Inc., ACC Ltd., and THE RAMCO CEMENTS LIMITED. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the global market.
Key Market SegmentsBy Sales ChannelOnline
Offline
By ApplicationWaterproofing Mortar
Concrete Repair Protection Mortars
Others
By End UserResidential
Non-Residential
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest Of Asia-Pacific
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Middle East Africa
South Africa
Saudi Arabia
UAE
Rest of Middle East Africa
Key Market Players
Heidelberg Cement AG
MBCC Group, Inc.
cemex concrete
Tremco CPG Inc.
Saint-Gobain
Ardex Group
Travis Perkins plc.
Laticrete International Inc.
ACC Ltd.
THE RAMCO CEMENTS LIMITED