Dry Mix Mortar Market Overview
The dry mix mortar market is projected to register a CAGR of over 5% during the forecast period (2021-2026). Dry mix mortar finds its major application in the construction industry, where it is used in plasters, grouts, waterproofing slurries, tile adhesives, and others. The increasing construction activities in the United States and Asia-Pacific are expected to drive the market’s growth. The 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 countries like China, India, and Japan.
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Dry Mix Mortar Market – Geographical Overview
China is likely to dominate the dry mix mortar market in the 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. The rising household income levels, combined with population migrating from rural to urban areas, are expected to continue to drive demand for the residential construction sector in the country. The increased focus on affordable housing by both the public and private sectors is also driving the growth in the residential construction sector. The country has the largest construction market in the world, encompassing 20% of all construction investments globally. China is expected to spend nearly USD 13 trillion on buildings by 2030, creating a positive market outlook for construction materials such as dry mix mortar.
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Mordor Intelligence has segmented the global dry mix mortar market on the basis of end-user industry, application, and geography:
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