Guatemala Construction Materials Market Report and Forecast 2023-2028

Guatemala Construction Materials Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the Guatemala construction materials market attained a value of USD 61.18 million in 2022. Aided by the increasing real estate investments in the country, the market is projected to further grow at a CAGR of 6.6% between 2023 and 2028.

Construction materials are tools, supplies, and parts that are used in building and construction activities. Several naturally occurring substances including wood, clay, rocks, and sand, among others are used for construction and building purposes. Many man-made substances are also used for construction purposes and aid in providing stability to building structures. Construction components along with construction materials are used for completion of renovation and construction activities. Increasing construction activities have positively impacted the growth of the Guatemala construction materials market.

Typically, construction materials are used for building several structures such as houses, buildings, towers, and bridges, among others. They aid in improving the durability and stability of the structure as well as extending its lifespan. Other applications of construction materials include providing flooring and roofing along with helping in waterproofing structures so that they are not easily damaged due to rainfall and other acts of nature.

Rapid urbanisation is the country is a major driver in the construction materials market in Guatemala as it is propelling the demand for construction and infrastructural development activities. Additionally, rising government investments towards the development of large scale infrastructure and housing projects is further driving the growth of the market for construction materials in Guatemala. The aim behind large scale infrastructural development is to boost the growth of the manufacturing sector so as to fuel the economic growth in the country.

Migration of rural population to urban cities for better employment opportunities has accelerated the requirements for better housing facilities as well as road and other infrastructural developments in the major cities. Increasing population is another major driver in the Guatemala construction materials market as it has escalated the demand for healthcare infrastructure, parks, schools, and educational institutes, among others, in the urban and rural regions of the country. Increasing development of smart cities in Guatemala has further driven the growth of the market for construction materials as it has resulted in redevelopment of several areas with updated facilities.

Market Segmentation

The market can be divided on the basis of type and end use.

Market Breakup by Type

• Tiles Adhesives
• Grouts
• Concrete Admixtures
• Mortar
• Waterproofing

Market Segmentation by End Use

• Residential
• Commercial
• Industrial
• Medical and Healthcare

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Guatemala construction materials market companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Euclid - Guatemala S.A.
• Sika Guatemala SA
• Protección Anticorrosiva de Cuautitlán, S.A. de C.V. (“PASA”)
• Henkel AG & Co. KGaA
• Mixto Listo
• Grupo Cemix
• Mapei S.p.A.
• Others

*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.