• Aditya Kaushal

Premix or Ready Mix Plaster market forecast and the Construction industry

As the covid-19 started spreading across the world since the outbreak from China, it became a pandemic and caused millions of deaths and a negative impact on the countries’ economy simultaneously. To stop the spreading of the Covid-19 virus, the governments in various countries started periodic lockdown or shutdown of markets, stopped the transportations, and took highly active measures to recover from the covid-19 virus. Public safety and health became the top priority for the governments as well as for the private corporates. In the pandemic year 2020, various industrial sectors had higher negative trends or decreased production output or high decrease in revenues, which also affected employees and employers’ daily professional & personal life. Construction Industry is among those downtrend industries that were highly affected by the pandemic in 2020. In the first quarter of 2021, its impact hasn’t been overcome due to various reasons. The second wave of Covid-19 and the government measures to follow for covid-19 safety and financial/economic distress among contractors & sub-contractors or other material suppliers are a few of them.

Premix or Ready Mix Plaster market | AKI Research

The construction industry is one of the backbones for a country that balances the economy, employment rate, infrastructure, and other facilities. According to AKI Research & Consulting, the global construction output is estimated to be about USD 10.49 trillion in 2020, with a declining y-o-y rate of about 3.1%. Asia-Pacific is estimated to account for about 51.7% share, followed by Europe 21.16%, North America 18.68%, among other regions in 2020. In 2021, the global construction market is expected to be more optimistic, but very challenging to recover from the pandemic and grow at a rate of about 4.28%. The lockdown impact and shutdowns of the various construction projects due to pandemic, and government interventions have delayed the timeline for these projects, causing an increase in cost for them. The increasing raw materials' price and operational costs have also been challenging factors in the construction industry. Still, due to pandemic, there is a shortage of skilled & unskilled labor forces in most construction markets. To overcome the pandemic construction companies are also favoring new technological trends or alternatives such as Building Information Modelling (BIM), 3D Printing, Drones, Modular construction, Prefabrication Building Systems, innovative materials like 3D graphene, self-healing materials, etc. Environment measures and sustainability will also increase the demand for recyclable materials, solar energy projects, and Green Buildings.

Global Construction Industry Output | Share by Revenue | Market Research Reports

Premix or ready mix Plaster is one of the readymade raw materials in the construction industry, used in different plastering applications on inner walls, ceilings, finishing walls, columns, etc., in residential, commercial, infrastructure, industrial, and public space applications. Premix plasters are mainly prepared based on binding materials as gypsum, lime or cement, and are supplied in bags to the on-site job. The cement-based premix plaster market is estimated to have the highest market share.

Compared to conventional plasters, which require an on-site job of mixing all raw materials requiring more labor & time, the premixed plasters are prepared off-site and only need water to mix on-site at a proportional quantity. Premix plaster requires low mixing time, lower curing time, and has negligible wastage. It is more environmentally friendly, provides higher durability & strengths due to special additives & polymer binders, and does not slump, shrink or crack and adheres strongly. However, the higher cost than conventional plaster is one of the key reasons for high competition in the market, and applications for short projects or construction for single residential buildings prefer conventional plasters over premix plasters. Due to various benefits in applications, the demand for premix plasters has increased in the last few years.

Global Premix Plaster Market by Volume in Thousand Tons, 2016-2025

According to AKI Research & Consulting, the global premix plaster market is estimated to account for about 89.128 million tons in 2020. It is forecast to have a CAGR of 2.75% during the period 2020-2025. Middle-East & Africa is estimated to have the highest CAGR of 3.87% during the same forecast period, followed by Asia-Pacific with 3.42%. In 2020, North America accounted for the highest market share with 25.43%, followed by Asia-Pacific (25.11%), Europe (24.34%), and MEA (17.21%). By 2025, Asia-pacific will have the largest market share. Countries like India, Thailand, Indonesia, China, etc., will have higher rates of consumption of premix plasters with many projects pipelined. In 2020, by country, the United States accounted for the largest share in the premix plasters market, followed by China, Saudi Arabia, Germany, UAE, Brazil, etc., respectively.

By end-user, the premix plaster market is segmented as Commercial Building, Residential Building, Infrastructure, and Industrial. In 2020, the Residential Building was estimated to have the highest market share, followed by Commercial buildings, Industrial, and Infrastructure. In addition, the commercial building is estimated to have the highest CAGR during the forecast period. In 2021, the covid-19 second wave cases have increased, which may impact the construction industry further to maintain public safety and health. In most countries, either many projects have been delayed further, or the ongoing projects are running at a limited number of labor forces to maintain safe distances and check covid-19 viruses to spread.

The premix plaster market is very fragmented with the presence of global and local players and has very high competition. Large scale players play a significant role in very big projects. However, the other small scale players have key advantages of local transportations and cost-effectiveness. Some of the key players in the premix plaster market include Saint Gobain, LafargeHolcim, Saveto, JM Vibro, Conmix Ltd., Mapei Group, Finobeton S.A., AfriSam, HIL Ltd, Wacker, Cementos CAPA, Evomat, Drymix S.A.E, CEMEX S.A.B. de C.V., Saudi ReadyMix, Knauf Gips KG, Fosroc, Sika Ag, Mortar & Plaster (M&P), Plaxit, The Ramco Cements Limited, etc. among others.


For the full report, please reach us at sales@akiresearch.com or adityak@akiresearch.com.

Thank you for reading! Please share if you find it useful.

More related reports available:

  • Global Modular Construction Market by Construction Type, End-User Application, & Geography (2016-2026)

  • Global Prefabricated Building Systems Market By Dimension Type, End-User Application, and Geography (2016-2026)

  • Global Self-healing Materials Market by Type, End-User Industry, and Geography (2016-2026)