Market Size of india dry mix mortar Industry
| Icons | Lable | Value |
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Study Period | 2018 - 2030 |
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Market Volume (2024) | 7.55 Million Tons |
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Market Volume (2030) | 11.00 Million Tons |
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Largest Share by End Use Sector | Residential |
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CAGR (2024 - 2030) | 6.47 % |
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Fastest Growing by End Use Sector | Commercial |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
India Dry Mix Mortar Market Analysis
The India Dry Mix Mortar Market size is estimated at 7.55 million Tons in 2024, and is expected to reach 11.00 million Tons by 2030, growing at a CAGR of 6.47% during the forecast period (2024-2030).
7.55 Million
Market Size in 2024 (Tons)
11.00 Million
Market Size in 2030 (Tons)
4.44 %
CAGR (2018-2023)
6.47 %
CAGR (2024-2030)
Largest Market by Application
39.26 %
volume share, Render, 2023
Due to the high usage of renders for finishing concrete and cement surfaces in various sectors of construction coupled with DIY repair works, the segment has dominated the market.
Fastest Market by Application
8.45 %
Projected CAGR, Water Proofing Slurries, 2024-2030
Owing to the rising application of waterproofing slurries across sectors such as residential, industrial, and infrastructure, the segment is expected to dominate the market in the forecast period.
Largest Market by End Use Sector
60.80 %
volume share, Residential, 2023
Due to the increasing usage of dry-mix mortar for applications such as rendering, plastering, waterproofing, tiling, etc. for housing construction, the residential sector holds the largest share.
Fastest Market by End Use Sector
7.23 %
Projected CAGR, Commercial, 2024-2030
Growing investments in construction for IT Hubs coupled with increasing consumption of dry mix mortar for malls, offices, etc., are expected to drive the demand in the sector during the forecast period.
Leading Company
18.75 %
market share, UltraTech Cement Ltd., 2022
UltraTech Cement Ltd. has the largest dry-mix mortar production capacity around 3 million tons in India. The company's technologically re-engineered products and distribution network in the country supports it dominance.
India’s Grade A office space is expected to reach 1.2 billion square feet by 2030, and is likely to drive the demand for dry mix mortar in the future
- In 2022, India's consumption of dry mix mortar saw a notable uptick of 7.13% from the previous year, primarily driven by heightened demand in the residential and infrastructure construction sectors.
- With a share of approximately 60.9% in 2022, the residential sector emerged as the dominant consumer of dry mix mortar in India. Factors such as rapid urbanization, government initiatives, and both foreign and domestic investments are fueling the demand for housing, leading to a projected uptick in residential building construction. For instance, India is eyeing an investment of USD 700 billion between 2021 and 2031 to bolster urban infrastructure services, including urban mobility and affordable housing. Additionally, the projected increase in the country's residential new floor area by 602 million sq. ft from 2023 to 2030 further underscores the growth potential. Consequently, the market is poised to register a CAGR of 6.56% during the forecast period.
- India's commercial sector is set to outpace others in dry mix mortar consumption, with a projected CAGR of 7.24% during the forecast period. The anticipated surge in the country's commercial new floor area by 46.7 million square feet from 2025 to 2026 is driven by rising demands for shopping malls, office and retail spaces, among others. For instance, India's Grade A office market in the top seven cities is on track to expand to 1 billion square feet by 2026 and further to 1.2 billion square feet by 2030. Consequently, the dry mix mortar market for the commercial sector in India is estimated to reach 1.47 million tons in 2030, up from 905 thousand tons in 2023.
Understand The Key Trends Shaping This Market
