Dry Mix Mortar Market Size By Application (Plaster, Render, Grout, Waterproofing, Tile Adhesives) By End-user (Residential, Non-Residential), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027.

The dry mix mortar market would register sizable growth by 2027, delivering a notable CAGR through the forecast period. Increasing construction activities in developed and emerging economies will primarily drive product adoption in the coming years.

Dry mix mortar consists of sand, cement, mineral, and functional additives. It is among the most versatile materials employed in modern construction.

Advantages of dry mix mortar includes reduced shrinkage, good workability, consistent quality, and better flexibility will fuel the growth of dry mix mortar in construction activities in the analysis period, which will facilitate market growth through the forecast period.

The dry mix mortar market has been bifurcated on the basis of form, application, and region. Based on form, the market has further been segmented into plaster, grout, render, tile adhesives, waterproofing, and others.

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The plaster sub-segment is projected to grow at the CAGR of 5.1% over the forecast period. Benefits of using plaster in construction activities like water-repellence and better insulation are projected to strengthen segmental growth through the assessment period.

Dry-mixed plaster mortar (DMPM) is an eco-friendlier building material than traditional plaster mortars as it reduces waste generation and air pollution on construction sites.

The plaster form leads to lesser carbon dioxide emissions and offers reduced cement redundancy, among other benefits, which will boost segmental growth through the forecast timeframe.

In 2020, the grout sub-segment accounted for around 2.5% share of the dry mix mortar market. Expanding application scope and advantages like improving ground structure associated with the use of grout will contribute substantially to segmental growth in the analysis period.

The others sub-segment is likely to grow significantly in the next few years due to increasing product demand in construction activities.

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In terms of application, dry mix mortar is used in residential and non-residential construction. The residential sub-segment is projected to grow at the CAGR of 5.4% through 2021 and 2027 boosted by surging residential construction in developed markets.

The non-residential sub-segment is expected to grow at a moderate rate during the analysis period owing to escalating use of dry mix mortar in commercial complexes.

In the regional landscape, the Europe dry mix mortar market accounted for around 18% industry share in 2020 and is slated to grow significantly through the assessment period. Government focus on modern buildings that are more energy efficient is expected to create considerable growth potential for the dry mix mortar market in the region in the coming years.

The Latin America market accounted for over 5% of the industry in 2020 and is projected to grow at a CAGR of 4.9% over the assessment period. Increasing investment towards the infrastructure sector will contribute to the regional growth in the coming years.

The Middle East & Africa dry mix mortar market will also showcase significant growth through the forecast period. Growing application of the product in commercial and infrastructural sectors will propel regional market expansion in the following years.