The Global Dry Mix Mortar Market size was estimated at over 260 million tons in 2020 and the market is projected to register a CAGR of over 6.5% during the forecast period (2021-2026). The market was negatively impacted by COVID-19 in 2020. Dry mix mortar finds its major application in the construction industry where it is used in plasters, grouts, waterproofing slurries, tile adhesives, and others. Considering the COVID-19 scenario, the private, as well as government construction activities, were on a temporary halt during the government-imposed lockdown, which led to a decrease in the consumption of dry mix mortar used in the construction works, thus declining the demand for the dry mix mortar market. However, the construction sector is picking up the pace in the post-pandemic scenario, thus will enhance the market demand for the dry mix mortar in the coming years.

- Over the short term, the increasing construction activities in the United States and Asia-Pacific are expected to drive the market’s growth.
- However, the high prices of dry mix mortars, as compared to conventional mortars, and the lack of awareness in developing economies are likely to hinder the growth of the market studied.
- Emerging trend of green building certifications is likely to act as opportunities in the future.
- Asia-Pacific dominated the market studied, with the largest consumption from the countries, such as China, India, and Japan.

Key Market Trends

Robust Demand from Render Segment

- Dry mix products provide excellent technical properties to meet the stringent performance requirements that are common in the current construction scenario. Additionally, the use of dry mix mortar products is economical, as they reduce the potential construction problems with long-term integrity of structures, with a simple materials approach.
- Dry mixed mortar contains the precise blend of materials and only requires the addition of water to produce a suitable render. Dry mix mortar comprises of special additives that improve the workability of renders and help them bond to the background and reduce the risk of cracking. They can be also used for decorative finishes.
- Rendering is done in almost all of the construction applications to achieve a smooth or deliberately textured surface.
- The global construction industry was valued at about USD 12 trillion in 2019 and is estimated to reach about USD 14.3 trillion by 2024, with a CAGR of about 3.5%, thus led to an increase in the consumption of dry mix mortar for tile adhesion purpose, which in turn stimulates the demand for the dry mix mortar market.
- In 2019, total value of new construction put in place was about USD 1,365 billion in the United States. The US construction industry is set to continue to post relatively solid growth over the forecast period, supported by the expanding residential sector.
- Therefore, the aforementioned factors are expected to show significant impact on the market in the coming years.

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China to Dominate the Market in Asia-Pacific Region

- China is among the global drivers in the consumption of dry mix products, owing to the huge infrastructure and residential growth taking place in the country.
- China is investing on infrastructure development projects, according to Civil Aviation Administration of China (CAAC) the country has stated operation in 12 new airports and working on 13th airport Ankang Fuqiang Aiport in Shaanxi province. Additionally, the country has extended the runway at Zhangjiakou Ningyuan Airport and expand the airport serving capacity from 600,000 to one million passengers per year, key airport for hosting 2022 Beijing winter Olympics. This will lead to an increase in the consumption of dry mix mortar in the application like plasters, tile adhesives, and grouts, which in turn stimulates the demand for the dry mix mortar market.
- The Chinese government has rolled out massive construction plans, including making provision for the movement of more than 250 million people to its new megacities over the next ten years, despite efforts to rebalance its economy to a more service-oriented form.
- As the construction industry is dominated by state-owned and private enterprises, increased government and private spending in this regard are pushing the industry to the peak position in the world.
- China was leading in the construction industry with a market size of USD 1,092.9 billion in the year 2019, registering a growth rate of 14.71% compared to the previous year, which in turn stimulates the market demand for the dry mix mortar.
- The number of high bridge constructions in China surpasses the rest of the world. On average, the Chinese government is constructing 50 high bridges a year, while the rest of the world construct about 10 every year.
- The country is also working on road projects which includes the construction of expressway between the cities such as Guangnan Nasa and Xichou Xingjie with an investment of USD 1.61 billion, Chengjiang and Huaning with an investment of USD 1.86 billion, and Quibei and Yanshan in Yunan province with an investment of 1.54 billion. Additionally, the construction of two new highway projects connecting Nayong with Qinglong, and Liuzhi with Anlong in Guizhou Province with and investment of USD 8.68 billion is expected to positively impact the dry mix mortar market in China.
- Demographics in the country is expected to continue to spur the growth in residential construction. Rising household income levels combined with population migrating from rural to urban areas is expected to continue to drive demand for residential construction sector in the country.
- Therefore, the aforementioned factors are expected to show significant impact on the market in the coming years.

Competitive Landscape

The dry mix mortar market is consolidated in nature. Some of the major players in the market include Sika AG, CEMEX S.A.B. de C.V., MAPEI S.p.A., Ardex Group, and Dow, among others.

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