The North America Dry Mortar Market is expected to
NEW YORK, March 16, 2022 (GLOBE NEWSWIRE) — The North America dry mortar market is expected to experience a growth rate of around 4.7% over the decade. Booming construction industry, growing urbanization and rising standard of living of individuals are expected to drive the expansion of the market.
Dry mortar is one of the main essential materials used in the construction and infrastructure industry. Growing construction industry, real estate growth and infrastructure development are expected to drive the demand for dry mortar over the next few years. In various construction and infrastructure projects, the need and demand for these ready-made building materials is increasing.
Key market developments:
- In 2019, in South Koreaa new WACKER production plant for dispersible polymer powders for the manufacture of building materials was commissioned.
- In 2020Laticrete International Inc. introduced the Lite series of mortars, which helped the company significantly improve installer safety and improve the performance of concrete repairs.
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Key insights from market research
- Demand for dry mortar in North America should exceed one worth $55 billion by the end of 2031.
- United States is a key market in North America representing more than 72% market share.
- Plaster is expected to remain a key application segment.
- Market in Mexico should attend a CAGR of 4.3% by the end of 2031.
- By end use, the residential sector is a key segment accounting for over 40% market share.
“Major players in the market are focusing on heavy investments in R&D, expansions, acquisitions and joint ventures to meet growing end-user demand and improve their market footprint,” says an analyst from Persistence Market Research.
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The North America dry mortar market is a consolidated space with a significant presence of key manufacturers. Some of the major market players included in the report are Laticrete International Inc., Dow Inc., Normet, Minerals Tech Inc., Wacker, Ardex Group, BASF SE, Knauf Gips KG, Nordkalk GmbH, Kourasanit, WAMGroup SpA, Colmef Monelli, MAPEI SpA, Laviosa, Cimprogetti, Colacem Spa, HeidelbergCement, LafargeHolcim Ltd., Ash Grove North, Lehigh, Graymont, Milman Industries, Votorantimcimentos, CRH, Holcim, Cemolins, LKAB Minerals and Ciaries.
Market players are focusing on expansion through acquisitions, collaborations, and entering emerging economies. They also invest in R&D to introduce new products to the market.
- In 2021, Dow Inc. invested to enhance its construction chemicals and industrial solutions business to support improvements worldwide.
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Growing urbanization is driving the construction of residential and commercial buildings, which has boosted the demand for ready-made building materials. As the world becomes more urbanized, including in North America, new construction activity is increasing, driving the construction industry’s demand for dry mortar.
Several market players are focusing on strategic expansions and partnerships to increase their footprint. The major players are focusing more on increasing their investments in research and development to meet the growing demand from end users.
More valuable information
Persistence Market Research, a research and advisory firm, has released a new market research report on the North America Dry Mortar Market which contains 2016-2020 industry analysis and opportunity assessment for 2021-2031.
The report provides an in-depth analysis of the market across different segments i.e. raw material, application, end use and country. The report also provides supply and demand trends along with an overview of the parent market.
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