North America Dry-Mix Mortar Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

North America Dry-Mix Mortar Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The North America Dry-Mix Mortar Market is expected to register a CAGR of over 3.5 % during the forecast period.

COVID-19 negatively affected the North American dry-mix mortar market. Large residential and commercial construction projects were temporarily suspended during COVID-19, reducing dry-mix mortar consumption. After 2020, the market grew gradually due to the continued construction activity in the North American nations.

• Long-term cost-effectiveness in the construction industry and simplified mix-and-apply operations are expected to benefit the dry-mix mortar market’s growth in North America.
• The emerging trend of green building certifications is likely to act as an opportunity in the future.
• However, high capital requirements and fluctuating raw material prices in North America are the major factors hindering the targeted market's growth.
• United States is expected to dominate the dry-mix mortar market in North America and is also likely to witness the highest CAGR during the forecast period.

• The primary utilization of dry mix mortar in the non-residential segment is in commercial, infrastructure, industrial/institutional, and other non-residential applications. North America holds a considerable market share, with leading countries like United States, Canada, and Mexico driving the domestic demand for dry mix mortar to new heights.
• Dry-mix mortars are most frequently used in non-residential construction to improve the long-term structure and are cost-effective, reducing cement waste and allowing them to meet the demanding performance criteria in today’s construction industry.
• In November 2022, Saskatchewan's Minister of Government Relations, Don McMorris, Minister of Intergovernmental Affairs, Infrastructure, and Communities, announced joint funding of more than USD 40 million for nine infrastructure projects across Saskatchewan, Canada. This development will consume more dry-mix mortar within the country.
• According to the US Census Bureau, the commercial construction industry in United States accounted for USD 91.03 billion, up from USD 86.82 billion in 2020.
• As stated by the World Bank, Mexico industry's (including construction) value added (% of GDP) was 39.9 % in 2021, which increased from 29.6% in the previous year (2020). This trend is expected to support the market study.
• According to the US Census Bureau, the expenditure on new private non-residential buildings in United States was around USD 485.8 billion in 2021, representing about a 2% decrease over the previous year.
• According to the US Census Bureau, the expenditure on public non-residential construction in United States was around USD 337 billion in 2021, slightly decreased as compared to USD 352 billion in 2020.
• Therefore, considering the aforementioned factors, the demand for the Dry-Mix Mortar is expected to rise significantly in the non-residential construction segment in the near future.

• United States dominated the North American dry mix mortar market in 2021, with a significant market and revenue share, and is expected to maintain its dominance during the forecast period.
• Dry-mix materials have superior technological properties that enable them to meet the stringent performance specifications prevalent in today's residential and non-residential construction. Furthermore, United States has a substantial market share in these industries, allowing it to continue its dominance across North American countries.
• According to the US Census Bureau, public spending on residential construction in 2021 was around USD 9.06 billion, a slight decrease from USD 9.19 billion in 2020. The residential component has steadily grown over decades and is expected to grow further in the future.
• In October 2022, The U.S. Department of Transportation’s Federal Highway Administration (FHWA) provided USD 59.9 billion in the fiscal Year 2023 to support the country's infrastructure, which includes highways, bridges, and tunnels for all 50 States of the country.
• According to the US Census Bureau, the total value of new construction in United States has crossed USD 1.59 trillion in 2021, representing an 8.3% increase over the previous year. Such trends are projected to benefit the studied market.
• All aforementioned factors are likely to fuel the growth of the dry mix mortar market in United States over the forecast period.

The North America Dry-Mix Mortar Market is fragmented in nature. Some of the major players (not in particular order) in the market include BASF SE, Sika AG, CEMEX SAB de CV, Henkel AG & Co. KGaA, and HOLCIM, among others.

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