Dry mortar acquired the major revenue share in the overall Mexico mortar market – 6Wresearch.
Mexico mortar market is expected to register a substantial growth over the forecast period on account of expanding commercial and industrial sector in the country. Mexican government in 2020, announced a $25.2 billion Infrastructure Development Plan with private sector companies to revive the economy that was severely hit by ongoing covid-19 pandemic. The mortar market in Mexico witnessed a decline in 2020 due to the outbreak of COVID-19 in the country that resulted in halt of construction sector activities as a result of the social distancing measures adopted by the government to curtail the spread of the virus. However, the mortar market witnessed growth in Q1 2021 as the economy resumed its operations, and the same trend is expected to prevail in the coming years.
According to 6Wresearch, Mexico Mortar Market size is projected to grow at a CAGR of 4.9% during 2021-2027. The development of two LNG terminals, the expansion and modernization of the ports of Salina Cruz and Cote Zacorkos, Los Cabos Airport, Puerto Vallarta Airport, Hermoshiro Airport and many such projects Would boost the Mexican mortar market in coming years.
According to Alpana Tyagi, Research Analyst, 6Wresearch, “Based on region, central region dominated the revenue share in 2020, as central region is the main attraction of the country due to presence of densely populated Mexico City, the capital of Mexico, is the heart of all developmental activities in of the country. Infrastructural developmental projects such a construction of Topilejo general hospital, Cuajimalpa hospital, construction of city’s first cable car system worth $361 million and ongoing extension of metrobus BRT system would drive mortar market in the central region over the forthcoming period.”
“Based on product types, dry mixed mortar acquired the largest revenue and volume share in Mexico mortar market in 2020 due to increasing consumer preference on account of its ready to use properties. Additionally, it is time saving, economical and provides a uniform and better surface finish. Further, lack of skilled manpower in Mexico would be another driving factor for growing demand for dry mixed mortar.” Alpana further added.
According to Dhaval Chaurasia, Research Associate, 6Wresearch, “Based on the end-user, commercial sector was the largest revenue generator in the Mexico mortar market in 2020 owing to the rise in tourism sector which has led to the construction of several shopping malls, resorts and hotels across the country. Additionally, mega projects such as $425 million National Stadium of Mexico in Monterrey and a $320 million stadium in Leon city would propel the mortar market in commercial domain over the coming years as well.”
Some of the major companies in the Mexico mortar market include Cemex S.A.B. de C.V., Lafarge Holcim, Elementia, Corporacion Moctezuma S.A.B. de C.V., Cementos Fortaleza, Puma Group, Cementos Molins, SA and Sika AG.
“Mexico Mortar Market (2017-2027F)” report provides an in-depth analysis with 16 figures and 8 tables, covered in 72 pages. The report estimates and forecasts the Mexico mortar market by product types, end-user, and region. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the present and future market dynamics.
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