Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The Advanced Building Materials Market is influenced by a myriad of market factors that collectively shape its trajectory. These factors, ranging from technological advancements to environmental concerns, play a pivotal role in determining the growth and dynamics of the market. Here are key market factors that significantly impact the Advanced Building Materials Market:
Technological Innovations:Â One of the primary drivers of the Advanced Building Materials Market is the continuous stream of technological innovations. Breakthroughs in materials science, nanotechnology, and manufacturing processes contribute to the development of materials with enhanced properties such as durability, energy efficiency, and sustainability.
Environmental Sustainability:Â Growing environmental consciousness is steering the market towards sustainable building materials. Consumers and regulatory bodies are increasingly prioritizing eco-friendly options, leading to a surge in demand for materials that minimize environmental impact, such as recycled and renewable resources.
Energy Efficiency Requirements:Â With a rising emphasis on energy efficiency in construction, advanced building materials that offer superior insulation properties and reduced energy consumption are gaining prominence. This demand is fueled by stringent building codes and regulations aimed at promoting energy-efficient structures.
Cost-effectiveness:Â Cost remains a crucial factor in the construction industry. Advanced building materials that strike a balance between performance and cost-effectiveness are more likely to gain widespread acceptance. Manufacturers are continually exploring ways to optimize production processes and reduce costs without compromising quality.
Urbanization and Infrastructure Development:Â Global urbanization trends and increasing infrastructure development projects are driving the demand for advanced building materials. Rapid urban expansion necessitates materials that can meet the challenges of modern construction, such as high-rise buildings and smart infrastructure.
Government Initiatives and Regulations:Â Government policies and regulations significantly shape the Advanced Building Materials Market. Incentives for green building practices, tax credits for sustainable materials, and strict regulations regarding the use of certain materials all influence the market landscape and encourage the adoption of advanced building materials.
Global Economic Trends:Â Economic conditions, both on a global and regional scale, play a pivotal role in the construction industry. Market fluctuations, currency exchange rates, and overall economic stability impact construction activities, thereby influencing the demand for advanced building materials.
Consumer Preferences:Â Changing consumer preferences and lifestyles contribute to the evolving landscape of the Advanced Building Materials Market. Preferences for aesthetically pleasing, low-maintenance, and technologically integrated materials are driving manufacturers to innovate and cater to the evolving tastes of consumers.
Collaboration and Partnerships:Â Collaborations and partnerships within the industry are becoming increasingly common. Companies are joining forces to combine their expertise and resources to develop innovative solutions. Strategic alliances can expedite research and development efforts, leading to the faster introduction of advanced building materials to the market.
Resilience and Disaster Preparedness:Â As the frequency and intensity of natural disasters increase, there is a growing emphasis on building resilience into structures. This has led to a demand for advanced building materials that can withstand extreme weather events and enhance overall disaster preparedness.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 57.47 Billion |
| Growth Rate | 6.02% (2022-2030) |
Advanced Building Materials Market Highlights:
Global Advanced Building Materials Market Overview
Advanced Building Materials Market Size was valued at USD 54.21 billion in 2021. The Advanced Building Materials industry is projected to grow from USD 57.47 Billion in 2022 to USD 91.74 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.02% during the forecast period (2024 - 2030). The growth in government spending on infrastructure development, reduced construction time, and cost-effective products drive market growth.
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Advanced Building Materials Market Trends
-
Increased government spending on infrastructure development & Reduced construction time and cost-effective products fosters market growth.
Government spending on infrastructure development creates a huge demand for advanced building materials, such as high-performance concrete, energy-efficient insulation, and sustainable construction materials. This demand, in turn, encourages research and development in the field of advanced building materials, leading to the creation of new and innovative materials. Moreover, when governments invest in infrastructure projects, they often set standards for sustainable and energy-efficient building practices. This motivates the construction industry to adopt these practices and use advanced building materials, resulting in increased demand for these materials. Additionally, these materials help to reduce construction time. Reduced construction time is possible due to the use of materials that are easier to install, require fewer steps or special skills, and have a longer lifespan. These materials often come with prefabricated components that are assembled on-site, reducing the need for traditional on-site construction methods. The cost-effectiveness of advanced building materials is also a significant factor that will boost the Advanced Building Materials market over the forecast period.
January 2024- the biggest climatetech incubator in North America, Greentown Labs, and a multinational manufacturer and distributor of materials and services for the construction and industrial markets, Saint-Gobain, has announced six startup participants for Greentown Go Build 2023 – a Greentown Go program aimed at boosting startup-corporate partnerships to advance circularity and decarbonize the built environment.
Advanced Building Materials Market Segment Insights
Advanced Building Materials Market Material Type Insights
The Advanced Building Materials market segmentation based on material type includes advanced cement and concrete, cross-laminated timber, structural insulated panels, sealants, and others. The advanced cement and concrete segment held the majority share in 2021 contributing to significant percentage respect to the Advanced Building Materials market revenue. Sealant is expected to exhibit the highest CAGR during the forecast period. Advanced cement and concrete are some of the most popular building materials used in the construction industry today. These materials offer several features over traditional materials, such as improved durability, increased strength, and reduced environmental impact. Sealants are an important component of advanced building materials, as they help to prevent moisture and air from infiltrating a building's envelope. Advanced building products are designed to provide superior energy efficiency, durability, and sustainability performance. Sealants seal joints and gaps between different building components, such as windows, doors, and walls, to prevent water infiltration and air leaks and enhance thermal insulation. Cross-laminated timber is a lightweight material, which means it can be used to construct taller buildings without the need for additional support structures. Cross-laminated timber also offers high strength and stability, making it suitable for use in seismic zones and hurricane-prone areas. Structural insulated panels offer several advantages over traditional building materials, including high insulation levels, reduced energy consumption, heating, and cooling cost, providing excellent structural support and resistance to impacts and weather events. These panels are high-performance building systems for residential and light commercial use.
May 2021 Saint-Gobain has invested over 320 million dollars in India to manufacture modern building materials such as improved concrete, 3D printing, and many more. Such events propel the need for advanced building materials.
Figure 2 Advanced Building Materials Market, by Material Type, 2021 & 2030
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Advanced Building Materials Application Insights
Based on Application, the Advanced Building Materials market segmentation includes Residential, Commercial, and Industrial. Governments in developing nations, including those in the Middle East and Asia-Pacific, recommend large construction industry expenditures to boost their economies. For instance, China's National Development and Reform Commission (NDRC) authorized 27 development and building projects in 2018, totaling USD 220 billion. These factors will positively impact the market for advanced building materials.
The purpose of using advanced building materials in residential construction is to create more durable, energy-efficient, safe, and sustainable houses. Advanced materials such as insulated concrete forms, energy-efficient windows, sealants, and engineered lumber offer enhanced structural strength and resistance to weather, seismic activity, and other hazards. Advanced building materials are highly versatile and can be applied in various ways in commercial construction. One of the significant applications is in the creation of sustainable and energy-efficient buildings. Advanced construction materials such as green insulation, energy-efficient windows, and renewable energy systems can help reduce energy consumption, thus lowering the carbon footprint of a building. Hence, the rising demand for various Advanced Building Materials in industries positively impacts market growth.
August 2022 Kingspan has partnered with Aqua Trace to offer smart roof systems. Kingspan Insulation provides high-performance flat roof insulation for roof systems, while Aqua Trace provides sophisticated waterproofing monitoring technology.
August 2022 In anticipation of final agreements with Temple EDC, the city of Temple, and Bell Country, PPG has invested USD 9 million to extend an existing product line at its facility in Temple, Texas. The initiative involves growing PPG's line of adhesives and sealants.
Advanced Building Materials Regional Insights
By region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific accounted for the largest market share of 40.09% in 2021. It is expected to register significant growth during the forecast period. The Asia-Pacific advanced building materials market is a dynamic and rapidly evolving industry, driven by factors such as population growth, urbanization, and increasing demand for sustainable and energy-efficient construction materials. The region is home to some of the world's fastest-growing economies.
The North American region is expected to witness the highest growth in the advanced building material market due to the increasing number of manufacturing industries and expansion of retail industries in the region. The population throughout the region is expected to rise due to the increasing birth rate and the government's growing focus on a healthier environment. The availability of advanced building materials at a lower cost is expected to fuel the demand for advanced construction materials across the region. The Europe region has seen a surge in construction projects, particularly in the commercial and residential sectors, which has driven demand for advanced building products. These materials include high-performance concrete, lightweight materials, and advanced insulation systems, which are used to enhance buildings' energy efficiency and durability.
Further, the Germany Advanced Building Materials market held a significant market share, and the UK Advanced Building Materials market was the fastest-growing market in the European region.
Figure 3 ADVANCED BUILDING MATERIALS MARKET SHARE BY REGION 2021 & 2030 (%)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Further, the major countries studied are the US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Advanced Building Materials Key Market Players & Competitive Insights
Major market players are spending a lot on R&D to increase their product lines, which will help the Advanced Building Materials market grow even more. Market participants are also expanding their global footprint through various strategic activities such as new product releases, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other companies. Advanced Building Materials' competitors must offer cost-effective things to flourish and thrive in an increasingly competitive and rising market climate.
One of the primary business strategies adopted by manufacturers in the Advanced Building Materials industry to benefit clients and expand the Advanced Building Materials market sector is to manufacture locally to reduce operating costs.
Key Companies in the Advanced Building Materials market include.
- Kingspan Group PLC
- PPG Industries Inc.
- BASF SE
- DowDuPont Inc.
- Saint-Gobain Group
- Cemex
- APV Engineered Coating Inc.
- Oerlokon Balzers Coating India Limited
- Sherwin-Williams Company
- Knauf Gips KG
Advanced Building Materials Industry Developments
October 2022 Kingspan Group acquired the CALOSTAT high-performance insulation brand to expand its high insulation and specialty chemicals business throughout Germany. Such events propel the need for advanced building materials.
September 2022 Kingspan Group has acquired Ondura to grow its Roofing and Waterproofing business across Europe and North America.
September 2022 BASF and GS Engineering and Construction have signed a Memorandum of Understanding (MoU) on a strategic relationship to develop modular carbon capture technologies.
December 2023- The Italian Trade Agency (ITA), Silver Sponsor of Big 5 Global 2023, has announced a collaboration with the Italian Consulate General in Dubai and the Italian Embassy in Abu Dhabi to offer the Official Italian Pavilion at Big 5 Global and Middle East Stone from December 4th to 7th, 2023. Presenting 99 national companies, the deliberately engineered pavilion, in partnership with key industry associations, spans two distinct areas: the Trade Centre Arena Hall at Big 5 Global, in partnership with CASEITALY, displaying 44 Italian exhibitors clustered by influential associations like FINCO, ANFIT, ACMI, ASSITES, and PILE, showcasing the brand-new Italian solutions for building construction and maintenance. Concurrently, at Middle East Stone in Sheikh Rashid Hall, in collaboration with Confindustria Marmomacchine, the pavilion highlights 55 Italian companies revealing cutting-edge products and technologies for marble and natural stones. In total, Italy proudly has nearly 260 national companies, counting the 99 showcased within the Official Italian Pavilion. Italy further concretes its position as a prime exporter to the UAE's construction and building materials sector, flourishing a significant €60 million in exports during the first semester of 2023. This milestone implies a remarkable 98% rise in the building materials and natural stones sector, along with a significant 29.89% growth in the construction technologies sector compared to the same period in 2022. This strong growth caters as a testament to the outstanding quality of Italian products, customized solutions, and the renowned 'Made in Italy' design commitment.
Advanced Building Materials Market Segmentation
Advanced Building Materials Market Material Type Outlook (USD Million, 2018-2030)
- Advanced cement and concrete
- Cross-laminated timber
- Structural insulated panel
- Sealants
- Other
Advanced Building Materials Market Application Outlook (USD Million, 2018-2030)
- Residential
- Commercial
- Industrial
Advanced Building Materials Regional Outlook
-
North America
- US
- Canada
-
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
-
Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
-
Rest of the World
-
Middle East & Africa
-
South America
-
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
