North America Dry Mix Mortar Market: Industry Analysis and Forecast (2024-2030)

North America Dry Mix Mortar Market Definition:

North America Dry Mix Mortar Market is projected to grow during the forecast period at a significant rate. One of the most important materials used in the construction and infrastructure industries is Dry Mix Mortar. Dry Mix Mortar demand is projected to increase during the forecast period because of the growing construction industry, real estate boom, and infrastructural development. The need for these ready-to-use construction materials is growing across a variety of construction and infrastructure projects.

Additionally, Dry Mix Mortar adds to the efficiency of the structures and is considered to be a part of Green Infrastructure campaigns. Mexico and Canada are implementing a variety of policies and reforms to boost their infrastructure sectors which is projected to drive the Dry Mix Mortar market upwards during the forecast period. Some of the more visible actions aligned with this plan include those aimed at improving roads, bridges, and airports, among other things. Both the countries are concentrating their efforts on enacting regulatory reforms in order to attract new investors to the dry sand and cement mix industry.

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North America Dry Mix Mortar Market Dynamics:

North America Dry Mix Mortar market is projected to grow at a significant rate during the forecast period. This is largely due to the increase in growth of construction and infrastructure activities in the North America region. Respective governments of US and Canada are investing heavily on real estate and infrastructure projects. Construction is a major consumer for several industries, including manufacturing, mining, and a variety of services. This includes all private and public real estate and commercial infrastructure developments in the United States, which are a major source of consumers of Dry Mix Mortar Market. Canada is one of the world's wealthiest countries and has one of the largest economies due to its emphasis on the real estate and construction sector. Construction is the backbone of Canadian economy, responsible for constructing and maintaining the infrastructure of cities, towns, and communities. Infrastructure and construction have grown dramatically in the recent decade, with over 50 skyscrapers erected in major cities such as Toronto, Vancouver, and Calgary. In terms of infrastructure Canada has funded more than 6,500 projects to build and maintain thousands of kilometres of expressways and highways.

One of the market drivers for Dry Mix Mortar market is the increasing growth of green infrastructure in the North American region. Many attempts are presently being conducted in the United States and Canada to expedite the market adoption of green building methods. Dry Mix Mortar adds to the efficiency of infrastructure, as more construction firms have started investing in green construction approaches to build energy efficient structures. These shifts are aided by economic factors. According to studies, the cost premium for bringing sustainable properties to market has dropped significantly in recent years, and skilled teams are now delivering them at prices comparable to conventional structures. Organizations, on the other hand, must pay a price to get the essential experience. Furthermore, studies demonstrate that the large long-term financial benefits of green design more than compensate for the higher initial cost of green construction.

The construction industry is a significant contributor to the US economy which in turn is driving the demand of Dry Mix Mortar in the North America region. The industry employs over 7.6 million people and produces approximately $1.4 trillion worth of construction per year. Manufacturing, mining, and a range of services all include construction as one of their biggest customers. Since the outbreak of the COVID-19 pandemic, industrial real estate has proved its strength. This has propelled e-growth commerce's and pushed the need for distribution space to new heights which has in turn helped drive the growth of Dry Mix Mortar Market in the North America region. According to a report released in June 2021, the United States would need to install 330 million square feet of warehouse space dedicated to online fulfilment by 2025 in order to keep up with the projected growth in the e-commerce sales during the forecast period. Demand for warehouse space in Canada vastly outnumbers availability, resulting in an increase in industrial construction. Following a 32% increase in online sales in 2020, Canada will need an additional 40 million square feet of warehouse space in the next five years to meet demand by 2025. That's more than three times the storage capacity of Canada's three busiest industrial cities: Toronto, Vancouver, and Montreal put together.

North America Dry Mix Mortar Market Segment Analysis:

On the basis of Industry Vertical, the North America Dry Mix Mortar Market is projected to be dominated by commercial construction during the forecast period. This is due to the increasing level of growth in the e-commerce market in the North American region which is driving the requirement for warehousing and logistical infrastructure. These infrastructural developments are used by the e-commerce industries for their logistical operations and maintaining strict delivery schedules.

Additionally, the North America region market is experiencing boom in construction activities. The US economy, worth USD 20 trillion, is supported by a huge infrastructure network that includes everything from roads and bridges to freight rail and ports, as well as electrical grids and internet access. The Secretary of the United States Department of Transportation (USDOT) announced in July 2021 that the Infrastructure for Rebuilding America (INFRA) programme would award USD 905.25 million in discretionary grants to 24 projects in 18 states through the Infrastructure for Rebuilding America (INFRA) programme. The Los Angeles County Metropolitan Transportation Authority will receive USD 30.0 million in grant funding to build a series of traffic-flow improvements in the 1.3-mile confluence area between the SR-57 and SR-60 roads in Los Angeles County. The Georgia Ports Authority will receive USD 46.8 million to construct a new inland container port along the I-85/I-985 corridor in an unincorporated area of Gainesville, which will be connected to the Port of Savannah through a direct 324-mile intermodal freight train service.

On the basis of Application, rendering is projected to dominate the North America Dry Mix Mortar Market as rendering is the most widely used application of Dry Mix Mortar in the construction and infrastructure industry. This is due to the ability of rendering activity to provide smooth and textured surfaces. These surfaces reinforce the aesthetics of the construction done and provides a visually pleasing effect to the onlooker which makes the civil structure appear premium and hence finds its usage heavily in commercial and residential infrastructure projects.

The objective of the report is to present a comprehensive analysis of the North America Dry Mix Mortar market to the stakeholders in the industry. The report provides trends that are most dominant in the North America 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 North America 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 North America 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 North America 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 North America 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 North America Dry Mix Mortar market. The report also analyses if the North America 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 North America Dry Mix Mortar market. Economic variables aid in the analysis of economic performance drivers that have an impact on the North America Dry Mix Mortar market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the North America Dry Mix Mortar market is aided by legal factors.

North America Dry Mix Mortar Market Scope:

North America Dry Mix Mortar Key Players:  

• Laticrete International Inc (US)
• DowDuPont (US)
• Normet Canada Ltd (Canada)
• Wacker Chemical Corporation (US)
• Holcim United States (US)
• Ash Grove North (Canada)
• Lehigh Cement Company (US)
• Graymont (Canada)
• Milman Industries (Canada)
• 3M (US)