From 2013 to 2023, the import of non-refractory mortars and concretes to China exhibited a fluctuating trend with significant variation in annual values. In 2023, the volume stood at 29.858 million kilograms, marking a modest year-on-year increase of 2.8% from 2022. The compound annual growth rate (CAGR) over the last 5 years was 2.11%, indicating a steady but moderate growth rate. Notably, the import volume experienced substantial peaks and troughs over the decade, with notable increases such as in 2016 (62.46%) and 2017 (48.96%), and significant declines, particularly in 2018 (-30.17%) and 2020 (-14.29%).
Looking forward, the forecast for the next five years up to 2028 shows a continuation of this steady growth trend with an overall forecasted 5-year growth rate of 11.01%. The import volume is expected to reach 34.028 million kilograms by 2028, driven by a projected 5-year CAGR of 2.11%. This indicates a sustained demand and gradual expansion in the market.
Future trends to watch for include:
- Potential impacts of evolving construction technology and materials on mortar and concrete demand.
- Influence of China's economic policies and infrastructure projects.
- Environmental regulations and increased focus on sustainable building practices.
