Key Findings for the Global Construction Materials Market | Technavio
The global construction materials market is expected to grow at a CAGR of close to 7% from 2017-2021, according to a new market research report by Technavio.
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Technavio has published a new market research report on the global construction materials market from 2017-2021. (Graphic: Business Wire)
Global construction materials market segmentation by product and geography
Technavio’s report on the global construction materials market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by product, which includes construction aggregates, cement, concrete bricks, and construction metals, as the four major segments. As projected in 2016, more than 38% of the market share originated from construction aggregates.
Based on geography, the global construction materials market has been segmented into APAC, EMEA, and the Americas. As of 2016, over 41% of the market share came from APAC.
“Growing construction activity in emerging countries is the reason behind the growth of the construction materials market in APAC. The construction market is expected to grow steadily in the region owing to an increase in demand for new infrastructures. Emerging economies are experiencing huge growth in commercial and residential construction to cater to the needs of the rapidly growing urban population,” says Gaurav Mohindru, a lead analyst at Technavio for construction research.
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Construction materials market: competitive vendor landscape
The global construction materials market is highly fragmented with both international and regional players. A majority of the market in developing regions are highly unorganized. The market has attracted multiple vendors due to a large number of raw material suppliers. Major vendors in the market try to distinguish their products with continuous technological innovation. This industry research report identifies CEMEX, China National Building Material Company, HeidelbergCement, and LafargeHolcim as the key vendors in the global construction materials market.
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Other topics covered in the report:
Market drivers:
- Increase in number of smart cities
- Increased government spending on infrastructure
Market challenges:
- Uncertain macroeconomic conditions
- Dearth of skilled laborers
Market trends:
- Adoption of new technologies and materials
- Introduction of smart and self-curing concrete materials and ferrocement
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