Building Products Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region

The global building products market is poised for substantial growth in the coming years, according to a recent analysis by the publisher. With a projected Compound Annual Growth Rate (CAGR) of 5.2% from 2024 to 2031.

Asia Pacific Emerges as Dominant Force

The Asia Pacific region demonstrates strong growth potential, with a steady value CAGR forecasted during the projected period. By 2031, it is expected to solidify its position as the leading player in the global building products market. This remarkable expansion is fueled by thriving construction sectors in countries like China and India, supported by key contributions from industries such as telecom, urban infrastructure, oil and gas, and railways.

Driving Forces of Growth

The surge in construction activities, particularly in developing economies, is a primary driver propelling the global building products market forward. Factors such as recovering construction activities post-historical stagnation, residential growth fueled by mortgage credit expansion, and rising investments in construction projects across various countries are catalyzing market expansion. Moreover, the non-residential sector is experiencing notable growth in regions like Mexico and Chile, further bolstering market prospects.

Continued Growth in North America

North America is poised to experience significant growth, closely trailing behind Asia Pacific in the global building products market. Throughout the forecast period, the region is expected to maintain a steady Compound Annual Growth Rate (CAGR), solidifying its status as a key player in the industry. The early adoption of building products in both Europe and North America has cemented their positions in the market.

Challenges and Opportunities

While the market outlook is promising, it is not without its challenges. Factors such as the impact of Brexit, potential exit of Greece from the EU, and ongoing economic slowdowns in regions like Brazil present hurdles to market growth. However, opportunities abound, particularly in emerging economies where infrastructure development projects are on the rise.

Impact of Economic Indicators

Several economic indicators play a crucial role in shaping the trajectory of the global building products market. Construction spending, in particular, exerts a significant influence, with associated markets such as paints and grey cement also contributing to market growth. GDP growth rates, albeit with a lower weightage, still wield influence over market dynamics, highlighting the interconnectedness of economic factors and the building products market.

Competitive Analysis

Some key companies are

• Akzo Nobel N.V.
• PPG Industries, Inc.
• Sto SE & Co. KGaA
• USG Corporation
• Compagnie de Saint-Gobain
• Ardex
• Knauf Gips KG
• Kerakoll Group
• PCI Group
• Parex Group SA
• Mapei S.p.A
• Baumit GmbH
• Toupret
• Caparol
• JUB Group
• Ceresit
• Rockwool International A/S
• China National Building Material Company
• Etex S.A
• PABCO Building Products
• Others.

Global Building Products Market Segmentation

By Product Type

• Plaster
• Renders
• Skim Coats
• Filling Compounds

By End Use

• Residential
• Commercial
• Industrial
• Infrastructural

By Region

• North America
• Latin America
• Europe
• Asia Pacific (APAC)
• Middle East and Africa (MEA)

By End Use

• Residential
• Wholesale and Retail Buildings
• Offices
• Academic and Educational Buildings
• Hotels and Restaurants
• Others

By Region

• North America
• Latin America
• Europe
• Asia Pacific (APAC)
• Middle East and Africa (MEA)

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