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Building Products (Including Drywall) Market Segmented By Plaster, Renders, Skim Coats, Filling Compounds Product in Residential, Commercial, Industrial, Infrastructural
According to Persistence Market Research analysis, the global building products market is anticipated to grow at a moderate growth rate to register a value CAGR of 5.2% throughout the period of forecast, 2017-2025. The global building products market is expected to reach a value of around US$ 49 Bn by the end of 2025 from an estimation of US$ 33.16 Bn in 2017. The research report covers various opportunities, trends, challenges and several other factors that have an impact on the global building products market growth and performance over the forecast period.
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The Asia Pacific region is expected to record a higher growth rate and is poised to register a robust value CAGR of 6.2% during the period of forecast. Also, Asia Pacific region is expected to reflect a higher market value of about US$ 24 Bn by the end of 2025, thus dominating the global building products market. This region, according to Persistence Market Research, has experienced a continuous steady growth over the years, since 2012.
This significant growth and dominance can be attributed to the growing construction sector in developing economies such as China and India. In addition, the telecom, urban infrastructure, oil and gas and railway industries contribute to this robust growth by generating a large share of construction activities and this trend is expected to grow even further in the coming years. Asia Pacific region is expected to be an opportunistic region and shows higher potential in the global market.
After Asia Pacific, the North America region is poised to reflect a value of about US$ 12.4 Bn by 2025 end, and is expected to grow at a steady CAGR of 4.4% through the period of forecast. Europe and North America regions were among the early adopters of building products. On the other hand, there are limited number of manufacturers in the Latin America and Middle East and Africa (MEA) regions.
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Get a Customized VersionThe global building products market has been impacted by several factors. The global market growth is positively influenced by aspects such as recovering construction activities post historical stagnation, residential growth due to mortgage credit expansion, non-residential sector witnessing growth in certain areas such as Mexico and Chile driving growth in these areas, rising construction activities in developed economies such as Europe as well as in emerging economies such as Asia Pacific and rising investment in construction projects across several countries. However, along with the positives, the market also has experienced some restraints such as the impact of Brexit, possible exit of Greece from the EU along with the ongoing slowdown in Brazil.
The growth in construction spending has a high impact on the growth of the global building products market over the period of forecast. Associated growth of markets such as paints and grey cement have a medium to high impact on market growth. GDP growth also has an influence over the building products market growth, with a medium impact on the market. The weightage of construction spending is the highest (52.3%) whereas GDP growth has a lower weightage of 19.2%.
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