Large construction businesses need to stay ahead of the competition every time and the main catalyst in this is to be aware on future trends and upcoming technologies that may help the business, before they turn too common in the industry. Whether it’s wearable technology, modular homes or automation in construction industry, these trends are now shaping the construction industry for sure. 3D printing is used as a construction material in the industry that helps in overhead cuts and enhanced rate of construction. Also, the use of drones on construction sites have resulted in capturing real-time data pertaining to status of the ongoing project.
The market is driven by factors such as adoption of builders to sustainable development in the global arena, rise in population with housing and shelter demands, increase in disposable income, manufacture of novel and eco-friendly products and inclination towards using modular building blocks. Rise in import-export activities and socio-economic conditions and government policies will play a significant role in shaping the global market.
The product categories in the construction materials market include cement, concrete bricks, construction aggregates and construction equipment. Cement and construction equipment account for a significant market share in the near future due to commercial rise in construction activities across the globe.
North America dominated the construction materials market in the past and at present it experiences a moderate growth in the construction industry due to increase in urbanization and modernization. In addition, strategic alliance coupled with government support also contributes as market variables. The industry is in its maturation phase and major players are now engaged into maintenance activities for old construction.
Asia-Pacific market holds a dominant position in the global market in terms of production of cement, granite and stone crushing activities. China and India are the major hubs in the APAC sector with a better hold in regional market. The market being sizeable, contributes significantly to the respective economies.
MEA market is majorly known for supply of raw materials and export activities. The GDP in these regions is mainly affected by the demand for granite, cement materials and construction equipment.
Prominent players mentioned in the construction materials market report are LafargeHolcim, HeidelbergCement, Building Material Company, China National Building Material Company, Aditya Birla Group, CEMEX, L&T, EuroCement, Sumitomo Osaka Cement, Tangshan Jidong Cement, Taiheiyo Cement, Granite Construction, Lucky Cement, Osaka Cement, Ube Industries, Vicat, Vulcan, Winerberger and DALMIA BHARAT.