Advanced Building Materials Market is predicted to reach USD ~91.74 billion at a CAGR of ~6.02% during the forecast period

Pune, India, March 2023, MRFR Press Release/Market Research Future has published a Half- Cooked Research Report on the Global Advanced Building Materials Market.

Advanced Building Materials Market Highlights

Advanced building materials represent a new generation of building materials with unique qualities that make infrastructure and buildings smarter, more sustainable, energy-efficient, and robust. These diverse and numerous solutions include improved versions of currently used materials as well as cutting-edge substitutes for conventional building materials.

Market Synopsis

The Advanced Building Materials Market was valued at USD 54.21 billion in 2021; it is expected to reach USD 91.74 billion in 2030, growing at 6.02% CAGR.

The construction industry constantly seeks ways to reduce time and cost while still delivering high-quality products. This has led to the development and adoption of advanced building materials that are more efficient and cost-effective. These materials help reduce construction time and contribute to the overall sustainability of the built environment. 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 contributing to their market growth.

Also, 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.

Like most industries, the construction industry got affected by the emergence of COVID-19. In the first few months of the pandemic, the growth of the construction industry slumped, characterized by declining revenues and disruption of the supply chain and manufacturing facilities operating with a partial workforce in their production line. However, it accelerated the key mobility value chain trends that were still in the pipeline before the emergence of the pandemic. The construction industry is expected to be more advanced, connected, and digital in the coming years. The players operating in the industry are working on pragmatic plans focused on cash flows, debt levels, and critical operations.

Competitive Landscape

The presence of many regional and local vendors characterizes the Advanced Building Materials Market. The global market is highly competitive, with all the players competing to gain a larger market share. The vendors compete based on cost, product quality, reliability, and aftermarket services. Therefore, vendors must provide cost-effective and efficient products to survive and succeed in a competitive market environment.

Kingspan Group PLC, PPG Industries Inc., BASF SE, Saint-Gobain Group, and Cemex are the major players in the market, competing in terms of a variety of applications for the Advanced Building Materials Market and their components, as well as efficiency, reliability, affordability, and advanced technology. The players' primary focus is to provide advanced products to aid in increasing adoption, which could help strengthen a country's growth with advanced products.

Segmentation

Based on the Material Type

• Advanced cement and concrete: Advanced cement and concrete are some of the most popular building materials that are being used in the construction industry today. These materials offer several features over traditional materials, such as improved durability, increased strength, and reduced environmental impact. One of the primary benefits of advanced cement and concrete is that they can be customized to meet specific requirements. The advantage of advanced cement and concrete is that they can be produced using sustainable materials, which helps to reduce the environmental impact of construction projects.


• Cross-laminated timber: Cross-laminated timber is an advanced building material made from layers of wood panels glued together at right angles. Each layer comprises smaller pieces of wood, usually with the grain running in the same direction, and the panels can be made up of three to seven layers. 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 panel: Structural insulated panels are a type of advanced building material used in the construction of buildings, particularly for walls, roofs, and floors. Structural insulated panels are made from a foam core sandwiched between two rigid sheathing materials, typically oriented strand board. 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. All these features make a structural insulated panel an increasingly popular choice for modern construction.


• Sealants: 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. They are typically made of polyurethane, silicone, or hybrid polymers and come in various forms, such as caulks, tapes, and sealant sprays.


• Other: The other segments of advanced building materials include advanced paints, advanced waterproofing solutions, transparent wood, smart glass, and 3D printed materials. These materials provide superior performance in terms of strength, durability, energy efficiency, and sustainability.

Based on Application

• Residential: The purpose of using advanced building materials in residential construction is to create houses that are more durable, energy-efficient, safe, and sustainable. 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. These materials also provide better insulation, reducing the energy consumption required for heating and cooling homes. Moreover, advanced building materials can improve indoor air quality and fire safety, providing a healthier living environment for occupants.


• Commercial: 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. High-performance concrete, engineered lumber, and composite materials can be used to create structures that are resistant to weather and seismic activity, enhancing the safety and durability of the building.


• Industrial: Advanced building materials are widely used in industrial construction to create durable, efficient, and safe structures. Industrial facilities require materials that can withstand harsh conditions, such as high temperatures, heavy loads, and chemical exposure. Advanced materials such as high-performance concrete, cement, advanced paint, and composites offer enhanced structural strength, resistance to wear and tear, and improved insulation. These materials can also reduce maintenance and repair costs, ensuring that industrial facilities remain operational and productive for longer periods.

Based on Region

• North America: The advanced building materials market in North America is expected to grow significantly in the coming years. These materials are used in the construction industry to improve building strength, durability, and sustainability. The market is driven by factors such as the rising demand for eco-friendly materials, increasing urbanization, and the need for energy-efficient buildings. North America is a significant contributor to the global advanced building materials market, with the United States being the largest market in the region. The market includes various materials such as advanced composites, advanced ceramics, high-performance insulation materials, and advanced coatings.


• Europe: Europe's advanced building materials market is a rapidly evolving sector, driven by factors such as increasing construction activity, demand for advanced sustainable building materials and energy-efficient materials, and government regulations promoting green building practices. The market includes a wide range of products, including advanced concrete, insulation materials, roofing, structural composites, and others. Key trends in the market include the adoption of new technologies, such as nanotechnology and 3D printing, and the increasing use of recycled and bio-based materials.


• Asia-Pacific: 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, such as China, Japan, India, and Southeast Asian countries, which are major contributors to the advanced building materials market growth. The Asia-Pacific advanced building materials market is highly competitive, with a large number of domestic and international players operating in the region.


• Rest of the World: The Rest of the World comprises the Middle East & Africa, and South America. The advanced building materials market in the Middle East and Africa, and South America regions have experienced significant growth in recent years. The MEA 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. South America, Brazil, Chile, and Argentina have seen a similar trend, with increased demand for advanced building materials to support infrastructure development and modernization efforts.