NEW YORK, Feb. 14, 2024 /PRNewswire/ — The advanced building materials market is set to grow by USD 17,001.89 million from 2022 to 2027. However, the growth momentum will progress at a CAGR of 5.34% during the forecast period, according to Technavio. To know about the vendor offerings – Request a sample report
Technavio has announced its latest market research report titled Global Advanced Building Materials Market 2023-2027
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Report Coverage |
Details |
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Page number |
169 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.34% |
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Market growth 2023-2027 |
USD 17,001.89 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
4.23 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 51% |
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Key countries |
US, Canada, China, Japan, and Germany |
The advanced building materials market is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market. 3M Co., Aditya Birla Management Corp. Pvt. Ltd., APV Engineered Coatings LLC, BASF SE, Boral Ltd., CEMEX SAB de CV, Compagnie de Saint Gobain, CRH Plc, Daikin Industries Ltd., DuPont de Nemours Inc., Heidelberg Materials AG, Holcim Ltd., Huntsman International LLC, Kingspan Group Plc, Knauf Digital GmbH, OC Oerlikon Corp. AG, Owens Corning, PPG Industries Inc., Sika AG, and The Sherwin Williams Co. are some of the major market participants -.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The advanced building materials market report covers the following areas:
The advanced building materials market is fragmented, and the degree of fragmentation will accelerate. The increase in the number of smart cities will offer immense growth opportunities. However, the uncertain macroeconomic conditions will hamper the growth.
The increase in the number of smart cities drives the growth. Currently, countries focus on creating new smart cities to accommodate the increasing urban population, and these cities provide smarter solutions that can be deployed to reduce the straining effects of the increasing urban population and introduce energy-efficient road networks.
Such expansion and development of cities and infrastructure pose strong demand. Hence, the growing smart cities boost the growth during the forecast period.
Uncertain macroeconomic conditions challenge the growth. To learn more about the global trends impacting the future of research, download a PDF sample
Type
Advanced Cement And Concrete
Cross-laminated Timber
Sealants
Structural Insulated Panel
Others
End-user
Commercial
Industrial
Residential
Geography
APAC
Europe
North America
Middle East And Africa
South America
The growth by the advanced cement and concrete segment will be significant during the forecast period. In order to save carbon emissions and increase the durability of infrastructure, governments and organizations across the world support the use of modern cement and concrete. Moreover, the introduction of innovative cement and concrete products has been prompted by the demand for high-performance, sustainable construction solutions. Hence, such factors boost the advanced cement and concrete segment during the forecast period. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in share, among others Buy the Report
The industry is experiencing significant growth, fueled by rising government expenditures on infrastructural development. This growth is particularly evident in construction and infrastructure developments, where innovative materials such as concrete, wall cladding, and precast products & elements are gaining traction. With the global population becoming increasingly urbanized, the demand for infrastructure support such as roads, subways, and tunnels is soaring. To meet stringent construction time requirements and budget constraints, the market is witnessing a surge in cost-effective products like ready-mix concrete and precast concrete pavement. Companies like Gage Brothers Concrete Products are at the forefront, offering cutting-edge solutions to cater to the evolving needs of the industry.
The industry is experiencing a transformative phase, driven by technological advancements and environmental considerations. Key innovators such as Kingspan Group and Ondura are revolutionizing the roofing and waterproofing sector with cutting-edge manufacturing technology. They’re leveraging advanced machines to produce N95 manufacturing facility, enabling efficient production while maintaining stringent quality standards. However, manufacturing cost price remains a concern, especially with the need for green materials and eco-friendly construction materials. Despite challenges like lockdowns, major manufacturing countries like China, U.S., Germany, Italy, and UK are driving growth in the industry. The demand for conventional building material is gradually declining in favor of sustainable solutions, reflecting a shift towards a more environmentally conscious approach in construction.
Related Reports:
The green building materials market size is estimated to grow at a CAGR of 13.81% between 2022 and 2027. The size is forecast to increase by USD 273 billion.
Global Precast Concrete Market size is estimated to grow by USD 19.61 billion between 2022 and 2027 accelerating at a compound annual growth rate (CAGR) of 3.83%.
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential markets and assess their competitive positions within changing scenarios.
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SOURCE Technavio