Ready Mix Plaster Market By Material (Cement-Based, Gypsum-Based, Lime-Based, Others), By Application (Interior Walls and Ceilings, External Rendering, Plastering of Concrete Surfaces, Others) By End User (Residential, Commercial, Industrial) : Global Opportunity Analysis and Industry Forecast, 2024-2032
Ready Mix Plaster Market
The ready mix plaster market was valued at $1.5 billion in 2023 and is projected to reach $2.9 billion by 2032, growing at a CAGR of 8.3% from 2024 to 2032.
Ready mix plaster is a mix of fine graded sand, cement, and polymer additives, available for instant use. The plaster is known to create a smooth finish on walls and ceilings. The key features of ready mix plaster include strong adhesion, crack-free finish, water resistance, and durability. The plaster serves as an excellent shield to protect walls from rain, sun, and moisture.
The instant operability of ready mix plasters is a major driver for their demand as the attribute aids in reducing labor expenses and time. In addition, rapid increase in construction activities and the ease of applicability of the plasters are the key factors augmenting the development of the market. The integration of self-curing additives and nanotechnology is trending in the market as these components enhance the longevity of plasters, improve the bonding strength, and reduce maintenance & repair expenses.
However, the harmful environmental impact of ready mix plasters, especially cement-based plasters, has led to the implementation of robust regulatory measures regarding their formulation and usage. According to an article by The Washington Post, an American daily newspaper, the cement industry is responsible for 8% of the global carbon emissions, which is thrice the quantity of emissions from aviation industry. The REACH regulation by the European Union has necessitated the registration of chemical substances involved in the formulation of plasters. Moreover, the addition of components falling under “substance of very high concern” category leads to strict penalties.
Segment ReviewThe ready mix plaster market is segmented into material, application, end user, and region. On the basis of material, the market is divided into cement-based, gypsum-based, lime-based, and others. By application, it is classified into interior walls & ceilings, external rendering, plastering of concrete surfaces, and others. Depending on end user, it is categorized into residential, commercial, and industrial. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of material, the cement-based segment held the highest market share in 2023.
By application, the interior walls & ceilings segment was the largest shareholder in 2023.
Depending on end user, the residential segment dominated the market in 2023.
Region wise, Asia-Pacific was the largest revenue generator in 2023.
Competition AnalysisThe major players operating in the global ready mix plaster market include JSW Group Ltd., Nuvoco Vistas Corp. Ltd., Unibeton Ready Mix, Mastour ReadyMix, Saint-Gobain Weber Beamix, Constrobond, Kasprs Build Mate Pvt. Ltd., Pye Products, Saveto Group, and CONMIX Ltd. These players have adopted various key developmental strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the market.
Key Market SegmentsBy MaterialCement-Based
Gypsum-Based
Lime-Based
Others
By ApplicationInterior Walls and Ceilings
External Rendering
Plastering of Concrete Surfaces
Others
By End UserResidential
Commercial
Industrial
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Thailand
Malaysia
Indonesia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
UAE
Argentina
Rest of LAMEA
Key Market Players
JSW Group Ltd.
Nuvoco Vistas Corp. Ltd.
Unibeton Ready Mix
Mastour ReadyMix
saint-gobain weber beamix
Constrobond
Kasprs Build Mate Pvt. Ltd.
Pye Products
Saveto Group
CONMIX Ltd.