Market Size of ASEAN Dry Mix Mortar Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 10.04 Million tons |
| Market Volume (2029) | 13.38 Million tons |
| CAGR (2024 - 2029) | > 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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ASEAN Dry Mix Mortar Market Analysis
The ASEAN Dry Mix Mortar Market size is estimated at 10.04 Million tons in 2024, and is expected to reach 13.38 Million tons by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).
The COVID-19 pandemic severely affected the ASEAN countries. The pandemic affected the construction activities in Indonesia, Thailand, and the Philippines, thereby affecting the market for dry mix mortar. However, post-COVID pandemic, the market registered a significant growth rate due to rising demand from residential and infrastructural construction activities in the ASEAN region.
- The long-term cost-effectiveness in the construction industry and the increasing construction activities in ASEAN countries are expected to drive the market's growth.
- However, the laying cost of dry mix mortars, in comparison to conventional mortar, is expected to hinder the market growth.
- The increasing production capacity of industrially mixed dry mix mortar in Indonesia is expected to create opportunities for the dry mix mortar market.
- Indonesia is expected to dominate the market due to the rising demand for dry mix mortar in the construction end-user industry. It is also expected to register the highest CAGR during the forecast period.
