Europe's Advanced Building Materials Market Set to Soar to $17.7 Billion by 2032

In a recent report published by Allied Market Research titled "Europe Advanced Building Materials Market by Type, Material, and Application: Opportunity Analysis and Industry Forecast, 2023-2032," the Europe advanced building materials market showed remarkable potential, with a value of $9.9 billion in 2021 and projected to reach $17.7 billion by 2032. This impressive growth is anticipated to be driven by a robust compound annual growth rate (CAGR) of 5.8% from 2023 to 2032.

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The European advanced building materials market encompasses two main categories: green building materials and technically advanced building materials. In 2022, technically advanced building materials took the lead in terms of revenue generation. This category includes ultra-high-strength concrete, self-healing concrete, quick-setting sealants, 3D printable concrete, and enhanced fireproofing solutions, offering benefits such as higher strength, rapid setting, improved insulation, enhanced water and fire resistance, and ease of application. However, the green building materials segment is expected to exhibit a higher CAGR throughout the forecast period, reflecting increasing environmental concerns related to unsustainable construction practices.

The Europe advanced building materials market is further segmented based on material types, including advanced cement and concrete, cross-laminated timber, structural insulated panels, sealants, and others. Advanced cement and concrete held a significant market share in 2022, driven by their extensive use in building and infrastructure projects. The sealants segment, on the other hand, is poised for high growth during the forecast period due to its role in enhancing energy efficiency and building façades.

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In terms of applications, building construction claimed a larger market share in 2022, driven by the rising demand for residential and commercial buildings due to urbanization. Conversely, the infrastructure segment is expected to experience the highest CAGR during the forecast period, supported by increased government investment in infrastructure development and the advantages offered by advanced building materials.

While the Europe advanced building materials market holds great promise, it faces challenges related to fluctuating raw material costs, which could impact its growth in the coming years.

The demand for materials that accelerate construction project completion has surged. High-performance concrete (HPC) and ultra-high-performance concrete (UHPC) have gained popularity for the production of precast products, elements, and 3D printed construction components. Modular construction, utilizing advanced building materials, is also on the rise, as exemplified by TOPHAT's modular homes manufacturing facility in the UK, set to be operational by the end of 2023.

In 2022, Germany dominated the Europe advanced building materials market in terms of revenue, followed by the UK and France. The rest of Europe is expected to exhibit a higher CAGR throughout the forecast period. However, some businesses in the market may experience slow growth due to economic challenges stemming from the Ukraine-Russia war and associated inflation, which has led to higher material costs in various industries, including construction.

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Key Findings of the Study:

The report offers an extensive analysis of Europe's advanced building materials market trends and emerging opportunities.

Green materials led the market in 2022, while the technically advanced segment is projected to grow significantly in the forecast period.

The sealants segment is anticipated to exhibit a higher CAGR during the forecast period.

Building construction accounted for the highest revenue in 2022, with the infrastructure segment poised for substantial growth.

The rest of Europe is expected to register the highest growth rate in the coming years.

The report profiles key players in the Europe advanced building materials market, providing insight into their strategies and the competitive landscape of the industry.

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