Advanced Building Materials Market By Type (Green materials, Technically advanced), By Material (Advanced cement and concrete, Cross laminated timber, Structural insulated panel, Sealants, Other), By Application (Building construction, Infrastructure): Global Opportunity Analysis and Industry Forecast, 2021-2031
The Advanced Building Materials Market valued for $56,736.47 million in 2021 and is estimated to surpass 1,11,648.70 million by 2031, exhibiting a CAGR of 6.8% from 2022-2031.
Advanced building materials are cementitious building materials that can meet unique property and uniformity requirements that cannot always be met with typical raw ingredients and traditional mixing, laying, and curing procedures. The industry is primarily driven by an increase in government spending on infrastructure development, including building and infrastructure projects. Concrete and wall cladding, as well as precast materials and elements, are used in several industries, including tunnel construction. The global population is expected to increase by two billion by 2040, with urban populations increasing by 46%, resulting in a significant demand for infrastructure support such as highways, subways, tunnels, common places, and commercial infrastructures.
The need for advanced material for construction applications is being driven by the need for products with shorter production times and lower costs. In addition, using precast materials and parts as well as ready-mix concrete cuts down significantly on building time. For instance, July 2022, The industry is primarily driven by an increase in government spending on infrastructure development, including building and infrastructure projects. Concrete and wall cladding, as well as precast materials and elements, are used in several industries, including tunnel construction. The global population is expected to increase by two billion by 2040, with urban populations increasing by 46%, resulting in a significant demand for infrastructure support such as highways, subways, tunnels, common places, and commercial infrastructures.
The need for advanced material for construction applications is being driven by the need for products with shorter production times and lower costs. In addition, using precast materials and parts as well as ready-mix concrete cuts down significantly on building time. Such instances are expected to drive the growth of the advanced building materials market. The cost of producing advanced construction materials is higher than that of ordinary building materials. Advanced machinery is needed to operate on these advanced materials. Customers who do not need equipment constantly or for a long time are therefore unable to purchase such a costly gadget. In addition, not all consumers have the financial means to purchase such costly equipment. The expansion of the market is hampered by the higher cost of advanced building materials. Alternative building materials are also called green materials because they are entirely eco-friendly and produce no hazardous gases or radiation. Thus, the use of more environment-friendly building materials serves as a restraint.
The market is mainly driven by the increase in demand for infrastructure and building projects. Building of new infrastructure is becoming necessary as a result of the ongoing development of industries including highways, railways, tunnels, non-residential construction, and mining. Furthermore, cutting-edge materials like wall cladding, exterior wall cladding, concrete bricks and blocks, and sealant speed up construction. This causes the need for innovative building material components and products to increase, which opens up a significant window of opportunity for the expansion of the market in developing nations. The advanced building materials market is segmented on the basis of type, material, application and region. By type, the market is bifurcated into green materials, and technically advanced. By material, the market is divided into advanced cement & concrete, cross laminated timber, structural insulated panel, sealants, and other. By application, the market is divided into building construction and infrastructure.
Region wise, the global advanced building materials market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competition analysis
The major players profiled in the advanced building materials market include Saint-Gobain group, DowDupont Inc., Kingspan Group Plc, PPG Industries Inc., BASF SE, APV Engineered Coatings Inc., Cemex, Knauf Gips KG, Oerlikon Balzers Coating India Limited, and Sherwin-Williams Company.
Major companies in the market have adopted acquisition, partnership and business expansion as their key developmental strategies to offer better products and services to customers in the advanced building materials market.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the advanced building materials market analysis from 2021 to 2031 to identify the prevailing advanced building materials market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the advanced building materials market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global advanced building materials market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Application
Building construction
Infrastructure
By Type
Green materials
Technically advanced
By Material
Advanced cement and concrete
Cross laminated timber
Structural insulated panel
Sealants
Other
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Saint-Gobain group
DowDupont Inc.
Kingspan Group Plc
PPG Industries Inc.
BASF SE
APV Engineered Coatings Inc.
Cemex
Knauf Gips KG
Oerlikon Balzers Coating India Limited
Sherwin-Williams Company
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