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Global Advanced Building Materials Market Overview
Advanced Building Materials Market Size was valued at USD 54.21 billion in 2021. The Advanced Building Materials market 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
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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.
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
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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 2022Â 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 2022Â Kingspan Group has acquired Ondura to grow its Roofing and Waterproofing business across Europe and North America.
September 2022Â BASF and GS Engineering and Construction have signed a Memorandum of Understanding (MoU) on a strategic relationship to develop modular carbon capture technologies.
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
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North America
- US
- Canada
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Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
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Rest of the World
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Middle East & Africa
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South America
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