Asia Pacific Dry Mix Mortar Market: Industry Analysis and Forecast (2024-2030)

Asia Pacific Dry Mix Mortar Market Definition:

Asia Pacific Dry Mix Mortar Market is projected to grow at a significant growth rate during the forecast period owing to rising economies of the constituent countries. Most of the major economies in the Asia-Pacific region are growing by leaps and bounds like India, Indonesia, Bangladesh etc. As the economies grow so does their need for infrastructure and commercial spaces in order to respond for the rise in disposable income and increasing standard of living. Additionally Dry Mix Mortar Market is directly linked to the construction and infrastructure market of the Asia-Pacific region because the use of Dry Mix Mortar is for construction purpose itself and with the growth of construction activities in Asia-Pacific region Dry Mix Mortar Market is bound to grow at a significant rate during the forecast period. The modern Dry Mix Mortar is made in a separate factory with dedicated batching and mixing facilities for all of the required ingredients in a highly-controlled process. Different varieties of Dry Mix Mortar products with well-defined features and performance can be manufactured in this way to fulfil specific requirements and applications. Because of its numerous advantages, the Dry Mix Mortar is already dominating the market over the other substitute products, displacing the typical job site mixing mortar.

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Asia Pacific Dry Mix Mortar Market Dynamics:

The Dry Mix Mortar Market is projected to witness significant growth rate during the forecast period. As the Asia-pacific region returns to some pre-pandemic level of routine following COVID-19 impact, governments of respective countries across the Asia-Pacific are looking for infrastructure growth in order to assist the further growth of economy. Investors are flocking to Asia-Pacific as a land of opportunity, encouraged by the focus of respective governments in the Asia-Pacific region. Rapid expansion, however, brings with it new obstacles. Long supply chains of equipment, materials, and people are required extensively in construction projects all around the world. Any link in the chain can be disrupted, resulting in delays and higher costs, and how parties handle risk distribution and mitigation can have substantial financial consequences. Following the COVID-19 slump, government infrastructure investment is critical to the revival of construction and real estate sectors which also impact the Dry Mix Mortar Market indirectly. In the short to medium term, major investments planned in China, India, Japan, and other regional leaders are expected to boost the growth of Dry Mix Mortar in the Asia Pacific region.

One of the major uses of Dry Mix Mortar is for rendering of residential projects and the market movements of residential construction sector can impact the Dry Mix Mortar Market significantly. Authorities of respective countries in the Asia-Pacific region have begun to lift limitations on home approvals and lending to avert a complete collapse of the building industry, which is suffering significant operational issues. According to the publisher's Q4 2021 Global Construction Market Survey, bank credit to property enterprises in China is substantially higher now than it was in Q2 and Q3 2021. Notably, mortgage lending in China jumped from roughly US$23 billion (150 billion yuan) in September 2021 to more than US$30 billion (200 billion yuan) in October 2021. Singapore has also announced a series of steps in October 2021 to assist the country's construction firms. The Ministry of National Development and the Building and Construction Authority, for example, have taken distinct steps to assist construction enterprises in reducing the effects of the global epidemic.

Despite a slowdown in construction and real estate activity in the first half of 2020 as the worldwide pandemic affected Asia Pacific countries, the region is expected to perk up in coming few years and maintain solid growth throughout the forecast period. By 2030, the Asia Pacific area is expected to continue to be the most important construction and real estate market, accounting for approximately 40% of the worldwide industry's output value. The value of construction and real estate production in Asia Pacific is expected to expand at a CAGR of 6% between 2020 and 2030, significantly outpacing growth in other key regions such as Western Europe and North America.

During the forecast period, China is expected to be the most important worldwide construction and real estate industry, fuelling regional growth of Dry Mix Mortar Market as well in the Asia-Pacific region. The construction industry in China has benefited greatly from decades of substantial Chinese investments in infrastructure development, a fast-growing urban population, and extensive foreign direct investments (FDI) into manufacturing facilities in the country. Faced with the COVID-19 outbreak, China suffered a drop in residential and non-residential building in the first half of 2020, but recovered quickly as consumer and corporate confidence returned. The introduction of the vaccination process in 2021 has added to the favourable economic outlook, boosting consumer spending. Furthermore, with the global rise in building material prices, such as metals and wood, Chinese construction companies are seeing a significant increase in manufacturing costs, but have been able to pass these costs on to final consumers so far.

Asia Pacific Dry Mix Mortar Market Segment Analysis:                        

On the basis of industry vertical, industrial construction is projected to dominate the Asia Pacific Dry Mix Mortar Market as industrial construction is projected to grow in the Asia-Pacific market. During the forecast period the residential construction segment is also projected to experience significant growth. For construction activities in India, a total of USD 24.67 billion in foreign direct investment has been made (including townships, built-up infrastructure and construction- development projects). Over the next seven years, the government is expected to invest around USD 1.3 trillion in housing, with 60 million new dwellings being built. In India, the availability of affordable housing is predicted to increase by roughly 70% by 2024. All of the above factors are projected to drive up demand for dry mix mortar in the region throughout the forecast period.

On the basis of application, plaster segment is projected to dominate the Asia Pacific Dry Mix Mortar Market as the residential construction segment is projected to grow during the forecast period. When compared to traditional made-on-site mortar, it offers a number of advantages, including consistent quality, a variety of types, high work efficiency, good job performance, and ease of use:

• Dry Mix Mortar can be transported in a simple container, automatically mixed, pumped, and applied by machine, resulting in a 500-600 percent increase in job productivity.
• Dry Mix Mortar improves industrial structure, modernizes the construction sector, and lowers project costs by reducing cement waste.
• As a thermal insulator and environmentally friendly material, Dry Mix mortar can help save energy and reduce emissions, which should be promoted on a broad scale. 

The objective of the report is to present a comprehensive analysis of the Asia Pacific Dry Mix Mortar Market to the stakeholders in the industry. The report provides trends that are most dominant in the Asia Pacific Dry Mix Mortar Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Asia Pacific Dry Mix Mortar Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

The qualitative and quantitative data provided in the Asia Pacific Dry Mix Mortar Market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Asia Pacific Dry Mix Mortar Market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Asia Pacific Dry Mix Mortar Market.

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Asia Pacific Dry Mix Mortar Market. The report also analyses if the Asia Pacific Dry Mix Mortar Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Asia Pacific Dry Mix Mortar Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Asia Pacific Dry Mix Mortar Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Asia Pacific Dry Mix Mortar Market is aided by legal factors.

Asia Pacific Dry Mix Mortar Market Scope:

Asia-Pacific Dry Mix Mortar Key Players:  

• UltraTech (India)
• Sika Asia Pacific (India)
• BASF (Malaysia)
• Saint Gobain Weber (India)
• 3M (Singapore)
• Holcim (India)
• DuPont China Ltd (China)
• Specialty Porducts Pte (Singapore)
• Precise Conchem (India)
• ACC (India)