Asia Pacific Dry-mix Mortar Market - Forecasts from 2024 to 2029

The Asia Pacific dry-mix mortar market is anticipated to grow at a compound annual growth rate (CAGR) of 5.87% during the forecast period.

Dry mix mortar is a versatile material used in the construction industry. It is used in laying bricks, coat building, and proofing. The application of dry-mix mortar extends to the grouts, plaster, render, tile adhesive, waterproofing slurries, insulation, finishing systems, and other applications. Further, it helps improve structures, modernize structures, and reduce cost and wastage. Dry mix mortar can be easily transported, stirred, pumped, and applied by a machine, making it more efficient.

Dry-mix mortar can be ordinary for masonry projects, plastering works, and ground mortar works. Special dry mix mortar can be a thin layer of dry powder mortar, decorative dry powder mortar, or dry powder mortar. Its functions can include crack resistance, high adhesion, waterproofing, impermeability, and decoration.

Ongoing and upcoming mega-infrastructure/construction projects in the APAC region have expanded the demand and supply of materials related to the project's development.  In this regard, the growth of the construction industry in India will play a major role. For instance, according to Invest India, India's construction industry is expected to reach $1.4 trillion by 2025. Furthermore, by 2025, India is further expected to generate at least 70% of its GDP through construction, which works around 250 sub-sectors with linkages across different sectors. In terms of residential construction, it is expected that by 2030, approximately 600 million people will be living in urban areas, which will create a demand for 25 million additional affordable units and additional mid-end. Moreover, under NIP, India has a total investment budget of $1.4 trillion divided among different sectors. Out of this $1.5 trillion investment budget, 24% will be for renewable energy, 18% for roads and highways, 17% for urban infrastructure, and 12% for railways. Under a Technology Sub-Mission of PMAY-U, a new era of the Indian construction technology sector will start with over 54 global innovative construction technologies. All of these factors combined will drive the demand for dry mix-mortar in India's construction industry.

ASIA PACIFIC DRY-MIX MORTAR MARKET DRIVERS:

Advantages over traditional wet mortar mixes

The use of dry-mix mortar gives numerous advantages over traditional wet mortar mixes. One of the primary advantages is it can be transported in a simple container, stirred, pumped, and applied by a machine, which makes work efficient for manifolds. The dry-mix mortar's raw materials, such as cement, sand, and additives, are mixed according to a specific formula in a mixer for the even distribution of the ingredients. Samples of the finished materials are taken and tested to ensure the required specifications are met. This process eliminates the need for on-site mixing and reduces waste.

Dry-mix mortar is an environment-friendly choice that can contribute to energy savings and emission reduction. Overall, it reduces dust pollution on the construction site, improves labor security, contributes to work efficiency, and benefits environmental protection.

Increase demand for green building

This century has witnessed a revolution in sustainable and environment-friendly industrialization, than the earlier times. This demand for products and processes to have fewer carbon emission targets includes the building and construction industry. The construction industry and environmental betterment are very closely interlinked. Buildings consume 16% of the water and 40% of the energy used annually worldwide. The usage of dry-mix mortar greatly impacts sustainability through the durability, quality, and efficiency of the material. The dry-mix mortar's long-term durability helps maintain the long-term performance and low maintenance of sustainable buildings. This reduction of the maintenance cycle reduces the maintenance cost of a building.

The quality and consistency of the dry mix mortar can be assured by good process controls. The efficiency of the dry mix mortar is very high as it enables the use of machines for application in huge time savings and more efficient use of material. Low carbon credentials have been important for the construction sector and dry-mix mortar users get helped to reduce their carbon footprint.

Asia Pacific Dry Mix Mortar Market Geographical Outlook

China will dominate the dry-mix mortar market during the forecast period.

The major economies are India, China, Japan, Korea, and Australia, which play a vital role in the region's rapid economic growth and industrialization. Furthermore, countries of ASEAN, like Thailand, Vietnam, Cambodia, Singapore, the Philippines, and Indonesia, are experiencing fast economic growth in the region. This is accompanied by increasing infrastructural development. Overall infrastructure development is taking place at a rapid pace owing to projects like China's Belt and Road initiative.

According to the World Bank, China's infrastructure investment was USD34.28 billion in 2022, this is indicating rapid industrialization and urbanization of the country in the last few decades has enlarged the market for infrastructure demand and development. Similarly, economic development in India is also leading to the making of more infrastructure projects. As per Infrastructure Outlook, India invested US$168 billion in the development of ports, US$13 billion in the development of the rails, and US$8.9 billion in the development of water-related infrastructure. These efforts would promote investment and stabilize economic growth and employment.

Asia Pacific Dry-mix mortar market restraints:

• The lack of standardization and regulation makes it difficult for dry mortar quality to be managed and controlled. This has created a barrier and challenge for the buyer to be assured of the products they are buying and hindered further market growth.
• Rising measures against curbing greenhouse emissions and controlling the overall growth of carbon. The major challenge is the application and manufacturing of dry mix mortar.

Asia Pacific Dry-mix mortar market key developments:

• In April 2024, Holcim Philippines rebranded and relaunched its mortar products for walls and floors to Tector for its global product offerings. This transformation is a shift towards a global effort towards dry mix products of the Holcim Group and its diversification. This is also an effort for the product expansion of green building products and low-carbon portfolio. These products are helpful for the stable repair and renovation segment.
• In November 2023, Nippon Paint Holdings Co., Ltd. announced that it acquired 75 percent of the share capital of Alina Group LLP.  Alina Group LLP is a Kazakhstan-based manufacturer and seller of dry-mix mortars, paint, coatings, and other products. The company would purchase the remaining 25% of Alina’s share capital in three years through a put-and-call option agreement.  Alina Group LLP operates in four countries in central Asia, including Kazakhstan. Kazakhstan has sustained strong growth driven by its urbanization. The company has the leading position in the dry-mix mortar market in the region.

The Asia Pacific dry-mix mortar market is segmented and analyzed as follows:

By Application

• Grouts
• Plaster
• Render
• Tile Adhesive
• Water Proofing Slurries
• Insulation and Finishing Systems
• Concrete Protection and Renovation
• Other Applications

By End-user Industry

• Residential
• Commercial
• Infrastructural
• Others

By Country

• China
• India
• Japan
• South Korea
• Taiwan
• Thailand
• Indonesia
• Rest of Asia-Pacific