The Dry Mix Mortar Market CAGR (growth rate) is anticipated to be approximately 5.3% over the forecast period.
Dry mix mortar market growth is being driven by increased construction activity, urbanization, and government infrastructure initiatives. Furthermore, increased demand for environmentally friendly construction materials and the growing popularity of prefabricated buildings are likely to boost market expansion.
The growing demand for affordable homes is a significant driver of the Dry Mix Mortar Market Industry. As the population grows, the demand for new housing rises, making affordable housing options increasingly crucial. Dry mix mortar is a low-cost, high efficiency building material that can assist meet demand. It is also ideal for disaster relief and post-conflict reconstruction because it can be quickly deployed to offer shelter to those in need. Furthermore, the growing popularity of green building techniques is driving up demand for sustainable building materials, and dry mix mortar is a more environmentally friendly alternative to regular mortar.
Market Segment insights
The dry mix mortar market is divided into four types: adhesive mortar, wall and tile mortar, grout mortar, and concrete mortar.
The Dry Mix Mortar Market may be segmented based on its composition, which is organically divided into organic and inorganic components.
Residential, commercial, and industrial applications are used to segment the market.
The Dry Mix Mortar Market relies heavily on the distribution chain. Dry mix mortar is distributed primarily through direct, retail, and internet sales.
Regional insights
The Dry Mix Mortar Market is divided into North America, Europe, APAC, South America, and MEA. North America's market was valued at USD 6.32 billion in 2023 and is predicted to grow to USD 9.37 billion by 2032, with a CAGR of 4.5%. Europe's market value was USD 5.84 billion in 2023, and it is expected to reach USD 8.51 billion by 2032, growing at a CAGR of 4.3%. The APAC region had a market worth of USD 7.56 billion in 2023 and is expected to reach USD 11.27 billion by 2032, at a CAGR of 4.9%. South America's market was valued at USD 1.23 billion in 2023 and is expected to increase to USD 1.79 billion by 2032, with a CAGR of 4.2%. The MEA region's market value was USD 1.12 billion in 2023 and is predicted to reach USD 1.65 billion by 2032, increasing at a CAGR of 4.4%.
Major Players
Mapei, BASF, Sika, Sopro, SaintGobain, Chryso, Quickmix, Weber, Henkel, Laticrete, Wacker Chemie, Ardex, Parex, and mtec are some of the key players in the dry mix mortar market.
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