Market Size of APAC Advanced Building Materials Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 30.07 Billion |
| Market Size (2029) | USD 44.80 Billion |
| CAGR (2024 - 2029) | 8.30 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Advanced Building Materials Market Analysis
The APAC Advanced Building Materials Market size is estimated at USD 30.07 billion in 2024, and is expected to reach USD 44.80 billion by 2029, growing at a CAGR of 8.30% during the forecast period (2024-2029).
- The pandemic had impacted building materials manufacturing and disrupted the supply chain, further preventing the market from expanding due to restrictions, border closures, etc. Additionally, the pandemic caused delays in construction projects, further affecting the advanced building materials industry. Later, after easing restrictions, the market recovered when compared to pre-pandemic levels.
- The growing building construction and infrastructure sectors are the major drivers of the advanced building materials industry. These materials are employed in construction projects to achieve structural strength, energy efficiency, decarbonization goals, etc. In addition, to meet net-zero goals set by the country, most of the developers are interested in adopting green building materials in development projects.
- Meanwhile, in April 2023, the Confederation of Real Estate Developers Association of India (Credai) partnered with the Indian Green Building Council (IGBC) to build over 1,000 certified green projects across India in the next two years, and 4,000 projects by 2030, these projects, in turn, bolsters the utilization of advanced building materials.
- Furthermore, the increasing need for construction time reduction and utilization of cost-effective products is driving the demand for advanced construction materials. In addition, the utilization of ready-mix concrete and precast products saves time in the building construction industry.
- For instance, in July 2022, AboitizLand partnered with Sumitomo Mitsui Construction Co. Ltd., SMCC Philippines Inc., to innovate its residential projects with the introduction of Japanese precast concrete technology. Thus, the growing construction projects and increasing investments in the infrastructure sector are expected to drive the demand for the advanced building materials industry in the region.
