North America $55 Bn Dry Mix Mortar Market Analysis, Size, Share, Growth, Trends, and Forecast 2024-2031 - ResearchAndMarkets.com
The "North America Dry Mix Mortar Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America)" report has been added to ResearchAndMarkets.com's offering.
The "North America Dry Mix Mortar Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America)" report has been added to ResearchAndMarkets.com's offering.
The North America dry mix mortar market is poised for significant growth, with sales reaching approximately US$36 billion by the end of 2024. Projections indicate a robust compound annual growth rate (CAGR) of 6%, with the market expected to surpass US$55 billion by 2031. These insights are part of a comprehensive report on the North America dry mix mortar market's outlook from 2024 to 2031.
Key factors driving North America dry mix mortar market growth include the expansion of the construction and infrastructure industries and the adoption of premixed dry mortar technologies. However, the COVID-19 pandemic temporarily impacted market growth in 2020 due to disruptions in the construction sector. Despite this setback, the demand for dry mix mortar is set to continue rising in North America.
Key Opportunities
The North America market presents significant opportunities for dry mix concrete manufacturers. Large-scale public infrastructure programs are expected to gain momentum, fostering public-private partnerships to fund new projects. Initiatives aimed at improving infrastructure, including roads, bridges, and airports, are on the rise in Mexico and Canada. Government support and the growing demand for rendering in dry mix mortar are further driving opportunities in the industry.
Additionally, the adoption of green construction practices is gaining traction in North America, promoting energy-efficient and environmentally friendly building materials. These sustainable approaches are expected to further boost the consumption of dry mix mortar in the region.
Challenges
Despite its promising outlook, the North America dry mix mortar market faces challenges. The cyclical nature of the construction industry and stringent regulatory processes can hinder the growth of new construction projects, resulting in lower demand for dry mix mortar. Furthermore, controversies arising from construction projects near forested areas and the lengthy approval process for construction projects can impact market expansion to some extent.
Trends
Manufacturers in the dry mix mortar market are adapting to new manufacturing trends by strategically positioning themselves in regional and national markets. Key players are expanding their portfolios by establishing new plants in foreign markets and acquiring other manufacturers to enhance their market presence. Additionally, partnerships and collaborations are being prioritized to strengthen market positions.
To meet growing market demands, key dry mix mortar suppliers are investing a significant portion of their revenue in research and development (R&D). Many leading companies allocate 3% to 5% of their annual revenue to R&D efforts, focusing on creating innovative products, technologies, solutions, and processes. The establishment of technical centers is also on the agenda to address research and development challenges and emerging issues in the industry.
Country-wise Analysis
United States: The U.S. remains a dominant market in North America, contributing significantly to the region's dry mix mortar sales. The growth of the manufacturing sector, coupled with increased investments in infrastructure projects, has driven the demand for dry mix mortar products.
Mexico: Mexico is experiencing notable growth in dry mix mortar demand, fueled by the construction of residential, institutional, and commercial buildings. The country's adoption of green building practices is contributing to the industry's expansion.
Key players in the North America Dry Mix Mortar Market including:
- Laticrete International Inc.
- Dow Inc.
- Normet
- Minerals Tech Inc.
- Wacker
- Ardex Group
- BASF SE
- Knauf Gips KG
- Nordkalk GmbH
- Kourasanit
- WAMGroup S.p.A
- Colmef Monelli
- MAPEI SpA
- Laviosa
- Cimprogetti
- Colacem Spa
- HeidelbergCement
- LafargeHolcim Ltd.
- Ash Grove North
- Lehigh
- Graymont
- Milman Industries
- Votorantimcimentos
- CRH
- Holcim
- Cemolins
- LKAB Minerals
- Ciaries
North America Dry Mix Mortar Market by Raw Material:
- Binders
- Cement
- Slag
- Pulverised Fuel Ash
- Gypsum & Anhydrite
- Hydrated Lime
- Polymer
- Fillers
- Silica/Quartz Sand
- Limestone Powder
- Silica Powder
- Bentonite
- Perlite
- Others
- Chemical Additives
- Cellulose Ester
- Superplasticizer
- Thickening Agents
- Accelerating Agents
- Retarding Agents
- Pigments
North America Dry Mix Mortar Market by Application:
- Plaster
- Thin Joint Mortar
- Floor Scurred
- Stuccos
- Cement Grout
- Tile Adhesives
- Water Proofing Slurry
- Crack Fillers
North America Dry Mix Mortar Market by End Use:
- Dry Mix Mortar for Residential Use
- Dry Mix Mortar for Industrial Use
- Dry Mix Mortar for Commercial Use
- Educational & Institutional
- Medical & Healthcare
- Others
- Dry Mix Mortar for Infrastructure
North America Dry Mix Mortar Market by Country:
- U.S. Dry Mix Mortar Market
- Canada Dry Mix Mortar Market
- Mexico Dry Mix Mortar Market
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