A recent report published by
Infinium Global Research on the ready-mix mortar market provides an in-depth analysis
of segments and sub-segments in the global as well as regional ready-mix mortar
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional ready-mix mortar market over the short
term as well as long term. The report is a comprehensive presentation of trends,
forecasts, and dollar values of the global ready-mix mortar market. According to the
report, the global ready-mix mortar market is projected to grow at a CAGR of around
7% over the forecast period of 2022-2028.
The revenue generated by the global
ready-mix mortar market is more than about USD 50 billion in 2022 and is expected
to reach approximately USD 70 billion in 2028 and is expected to grow with
a CAGR of around 7% over the forecast period 2022-2028. Ready-mix mortars are
the concrete material used in the construction sector. It is the composition of
fine aggregates such as sand and coarse aggregates, cement mixed with water
that cures with time. Ready-mix mortars are primly used to get desired
durability and strength in construction work, and for this purpose, the
respective ingredients are mixed in proportion per standard codes. Furthermore,
the ready-mix mortars s provide convenience, ease of use, and better quality;
hence this type of concrete is favored over regular concrete. The ready-mix
mortar finds use in constructing residential & commercial buildings,
manufacturing facilities, and roads. Due to the rise in demand for versatile
building materials and an increase in concern toward solid construction, the
need for ready-mix mortars is increasing.
With the
COVID-19 lockdown, the ready-mix mortar market has witnessed negative growth
during the forecast period. Because the COVID-19 outbreak has forced several
people across the country to spend more extended reception, this decreased the
assembly of the products and affected sales. Furthermore, the expansion of
the market is extremely obsessed with construction activities. Parties involved
in construction projects are having difficulties in moving projects forward and
finding solutions to claims arising from on-site suspensions, delays, and extra
costs. While some construction contracts have already been terminated because
of the pandemic, many others are being renegotiated. This directly affected the
expansion of the ready-mix mortar market during the covid-19 pandemic.
The ready-mix mortar market is
primarily driven by the growth in the repair and maintenance work of the
existing buildings and infrastructure projects around the world. The use of
high-tech concrete mixers and trucks has emerged as an important factor in
promoting the use of ready-mix mortars in big development and maintenance
projects. Ready-mix mortar speeds up the construction process and reduces the
cost of construction and repair work significantly. Further, the ready-mix
mortars are produced using high-tech machinery and the mixture is perfectly
blended to reduce the cracks in the construction walls. However, the production
of ready-mix mortar requires heavy machinery and skill sets among the employees
who work on these projects which restraints the market growth. The initial cost
of the machinery and regulatory approvals is significantly high in the world.
Moreover, numerous large-scale government projects are lined up for repair
and new build-up in the European region which is expected to provide growth
opportunities to the market players.
Geographically, Asia Pacific
dominates the ready-mix mortar market. The growing population in nations including
India and China is anticipated to increase the demand for construction
activities in the residential sector, which is expected to increase the use of
ready-mix mortar. Social infrastructure, such as government buildings, schools,
and hospitals, as also water resources and infrastructure for defense, are the
main sectors where growth is anticipated. The demand for ready-mix mortar in
the area is anticipated to rise throughout the course of the projection due to
all of the aforementioned variables. New building activities are anticipated to
expand as the world, especially North America, becomes more urbanized, which
will raise the demand for ready-mix mortar in the construction industry. Countries
such as USA and Canada are upgrading their infrastructure which is expected to
offer opportunities in the future.
The report on the global ready-mix
mortar market covers segments such as application, and end-user. On the basis
of application, the sub-markets include waterproofing mortar, concrete repair
& protection mortars, and others. On the basis of end-user, the sub-markets
include residential, and non-residential.
The report provides profiles of
the companies in the market such as Heidelberg Cement, MBCC Group, CEMEX,
Tremco CPG Inc., Saint-Gobain, Ardex Group, Travis Perkins, Laticrete
International Inc., ACC Ltd., and The Ramco Cements Limited.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the ready-mix mortar market. Moreover, the study highlights current
market trends and provides forecasts from 2022-2028. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.
Please Choose One of them.