Global Mortar Market size growing with a CAGR of 3.30%: Growth Outlook from 2022 to 2030, projecting market trends analysis by Application, Regional Outlook, and Revenue
The Mortar Market is expected to grow from USD 32.20 Billion in 2022 to USD 40.40 Billion by 2030, at a CAGR of 3.30% during the forecast period. | Source:PRIMEIQ RESEARCH (OPC) PRIVATE LIMITED
New York, Dec. 26, 2023 (GLOBE NEWSWIRE) —
Market Overview and Report Coverage
The Mortar market research reports showcase a diverse and evolving landscape driven by construction and infrastructure development. These reports delve into the market intricacies, highlighting key trends and challenges shaping its trajectory. Main findings underscore a steady market growth attributed to increasing construction activities worldwide. The Mortar Market is expected to grow from USD 32.20 Billion in 2022 to USD 40.40 Billion by 2030, at a CAGR of 3.30% during the forecast period.
Recommendations within the reports emphasize the need for innovative mortar formulations, focusing on sustainability, durability, and cost-effectiveness. Collaboration among stakeholders for research and development initiatives is crucial to meet evolving market demands and environmental regulations.
Regulatory and legal factors influencing the Mortar market include construction codes, environmental standards, and safety regulations governing material composition and building practices. Adherence to these regulations is vital for market players to maintain credibility and market access.
Market segmentation for Mortar includes various types such as cement-based, polymer-modified, and lime mortar, catering to specific construction needs. Applications span residential, commercial, and infrastructure projects, showcasing the versatility of mortar in different construction sectors.
Geographically, the Mortar market has a global presence, prominently in North America (NA), Asia-Pacific (APAC), Europe, the United States (USA), and China. NA and Europe exhibit stable markets due to established construction industries, while APAC, led by China, displays rapid growth due to increased infrastructure development. The USA emphasizes technological advancements in mortar formulations, contributing significantly to market growth.
The Mortar market’s steady demand, driven by construction activities globally and the need for sustainable building materials, positions it as a crucial component in various sectors, fostering innovation and efficiency in construction practices worldwide.
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Mortar Market Trends and Market Analysis
Mortar is a versatile construction material used to bind building blocks, like bricks or stones, and create structures by filling gaps and providing structural strength. Its target market revolves around the construction and infrastructure sectors, catering to residential, commercial, and industrial projects globally. The future outlook for Mortar remains positive, driven by increasing urbanization, infrastructure development, and sustainable construction practices globally.
Companies such as Saint-Gobain Weber (FR) Materis (FR) Sika (CH) Henkel (FR) Mapei (IT) operate in the Mortar market, specializing in producing a wide range of mortar formulations tailored for various construction needs. These companies invest in R&D to enhance mortar properties, emphasizing durability, sustainability, and ease of application. The latest trends in the Mortar market revolve around the development of eco-friendly and high-performance mortar formulations, including polymer-modified and pre-mixed mortars, addressing demands for faster construction, better durability, and reduced environmental impact. Challenges faced include fluctuating raw material costs, stringent environmental regulations, and the need for continuous innovation to meet diverse construction requirements while maintaining cost-effectiveness. Overcoming these challenges is vital for sustained growth and meeting evolving market demands for efficient and environmentally friendly construction materials.
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Top Featured Companies Dominating the Global Mortar Market
In the competitive landscape of the Mortar market, companies like Saint-Gobain Weber (FR) Materis (FR) Sika (CH) Henkel (FR) Mapei (IT) play pivotal roles, specializing in manufacturing diverse mortar formulations for construction applications. These companies leverage their expertise in producing cement-based, polymer-modified, and specialty mortars tailored for various construction needs. They contribute to market growth by investing in research and development to enhance mortar properties, focusing on durability, flexibility, and environmental sustainability.
Sales revenue figures (in millions USD):
Saint-Gobain Weber (FR) : $800 million
Sika (CH): $600 million
Materis (FR): $400 million
These figures, subject to market fluctuations, highlight substantial revenue generated by key players. These companies aid in growing the Mortar market by offering a broad spectrum of mortar solutions catering to residential, commercial, and infrastructure projects. Their focus on innovation, quality, and meeting diverse construction demands drives market expansion and adoption of advanced mortar formulations. Additionally, they contribute to market growth by addressing evolving industry needs, including faster construction processes, enhanced durability, and eco-friendly materials, further bolstering the Mortar market’s evolution and sustainability.
In terms of Product Type, the Mortar market is segmented into:
- Wet Mixed Mortar
- Dry Mortar
Mortar types include cement-based, lime-based, and polymer-modified variants. Cement-based mortar, the most common, offers versatility and strength for various construction applications. Lime-based mortar provides better flexibility and is suitable for historic restoration due to its compatibility with older structures. Polymer-modified mortar enhances durability, adhesion, and water resistance, ideal for modern construction needs. These diverse types address specific construction requirements, catering to varying climates, building materials, and project demands, ultimately boosting demand by offering tailored solutions for different construction needs and preferences.
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In terms of Product Application, the Mortar market is segmented into:
- Home Decoration
Mortar finds extensive application in various construction projects, notably in masonry, tile fixing, and plastering. In masonry, mortar acts as the bonding agent between bricks or stones, providing structural support. For tile fixing, mortar secures tiles to surfaces, ensuring durability and stability. Plastering involves applying mortar to walls or ceilings for a smooth finish. The fastest-growing application segment in revenue terms is in tile fixing, driven by increased demand for modern and aesthetic tiling solutions in residential and commercial construction. The use of mortar for fixing tiles, particularly in high-end projects, contributes significantly to revenue growth in this application segment.
Mortar Market Regional Synopsis
The Mortar market displays robust growth across regions, with Asia-Pacific (APAC) and specifically China anticipated to dominate. APAC showcases rapid expansion due to increased construction activities and rising infrastructure development. China, a key player in construction, is expected to hold a dominant market share of around 40%. North America (NA) and Europe follow with 25% each, driven by established construction industries. The USA and Europe emphasize technological advancements in mortar formulations, contributing 5% each to the market share. These regions collectively reflect the market’s global growth, with APAC, particularly China, expected to lead due to its significant construction activities and growing demand for Mortar.
Reasons to Purchase the Mortar Market Research Report:
- Market Insights: Obtain comprehensive understanding of current trends, growth drivers, and challenges in the Mortar industry.
- Strategic Decision-Making: Utilize accurate data and forecasts for informed business decisions, aiding in product development and market entry strategies.
- Competitive Analysis: Identify key players, their strategies, and market positioning, facilitating benchmarking and competitive assessment.
- Regulatory Understanding: Access information on industry regulations, compliance requirements, and legal factors influencing market dynamics.
- Future Market Outlook: Forecast future trends and growth prospects, aiding in long-term planning and resource allocation strategies.
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