Technical Mortar Market Size, Share & Industry Analysis, By Type (Rapid Set Cement, Premix Sand Cement, Others), By Application (Construction Industry, Home Decoration Industry, Others) and Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
Techincial mortar is a material used in construction and building infrastructure to bridge the gaps between the bricks and blocks used during construction. Mortar is a combination of clay, a binding agent such as cement or lime, and water and is applied as a paste that is then hard-set. Specific mortar approaches for large construction contracts, social housing renovations, and highway programs.
Technical Mortar is used to fasten masonry bricks and used in construction industry. Thus economies coupled with rapid urbanization & industrialization has compelled to boost growth in the industry involved to meet the growing demand for construction industry which in turn drives the market. However, various government regulations imposed on the preperation of technical mortar is restrraining the market.
Key Market Driver -
Increased application in construction industry drives the market.
Key Market Restraint -
High regulations by government confines the industry growth.
Market Segmentation:
Based on type, the market for technical mortar is segmented into rapid set cement, premix sand cement, others. On the basis of application, the market is cassified into construction industry, home decoration industry, others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Players Covered:
The technical mortar market is highly fragmented, with number of players operating in the global markets. Some of the key players in the technical mortar market include, USL Group, Eurotiles Industrial Corporation, Yıldız Yapı Kimyasalları, Corporación Masaveu Parex Ltd, Cementos Capa, Zhejiang Taizheng Construction Material Co.,Ltd, Saint-Gobain Weber , Sika Group, Ivas Industria Vernici Spa and others.
Key Insights
- New Advancements in Production Technologies
- Key Trends in the Technical Mortar Market
- New Product Launches, Expansions, Key Players
- Ranking of Key Players in the Market
Regional Analysis:
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The technical mortar market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific has the largest market share in the world, and will continue to show the fastest market growth. Countries like China, South Korea and Japan have largest construction industries that are projected to become developed countries worldwide. This can be due to increasing infrastructure growth and customer community outreach. Due to the rising population, North America's market is expected to hold a major share of the technical mortar market response to the growth in construction industry in the region. It is expected that the arrival of a large number of foreign and local producers in Europe would accelerate demand growth in the region. Middle East and Africa are expected to increase moderately over the projected time-frame. The region is reported to demonstrate slow growth due largely to the government's intrusion of tight regulations. Latin America, shows slow growth contributing to lack of awareness and manufacturers in the region.
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Segmentation
ATTRIBUTE | DETAILS |
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By Application |
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By Geography |
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Technical Mortar Industry Developments
- In May 2019, Sika purchased Parex (France), a major interior and exterior mortar maker, waterproofing adhesives, and tile adhesives. That will allow the company broaden its range of products and reach attractive market segments.
- In November, 2019, Sika had introduced a new mortar plant to its emerging Addis Abeba, Ethiopia facility. This is projected to accelerate the offering of the product portfolio, and boost the country's production capacity.
- Ongoing
- 2023
- 2019-2022
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