Advanced Building Materials Market to Hit $111.7 Billion by 2031 | Growing at a 6.8% CAGR

The market is primarily driven by rising government expenditures on infrastructure development, including roads, subways, tunnels, and commercial buildings. The global population is projected to grow by approximately two billion by 2040, with urban populations increasing by 46%, triggering significant demand for infrastructure. Advanced building materials, such as ready-mix concrete and precast products, reduce construction time and costs, making them highly sought after. For example, in February 2020, a road in Nagpur, India, was constructed in six hours using precast concrete pavement, a process that typically takes 8-10 days. Similarly, in January 2021, Gage Brothers Concrete Products completed a 440,000 sq. ft. N95 manufacturing facility in just 52 days using precast concrete components, highlighting the efficiency of these materials.

The global advanced building materials market, valued at $56.7 billion in 2021, is projected to reach $111.7 billion by 2031, registering a compound annual growth rate (CAGR) of 6.8% from 2022 to 2031. Advanced building materials are characterized by their sustainability and superior technical properties compared to conventional materials, making them ideal for modern construction needs. These materials, including advanced cement, cross-laminated timber, structural insulated panels, and sealants, are increasingly adopted in construction and infrastructure projects to enhance efficiency, durability, and environmental sustainability.

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Advancements in manufacturing technologies have further propelled market growth. Key players are innovating to expand their offerings, as seen in Kingspan Group's acquisition of Ondura in September 2021 to strengthen its roofing and waterproofing sector in Europe and North America. However, high production costs of advanced materials, which require specialized machinery, pose a challenge, particularly for customers who do not need such equipment continuously. Additionally, the rise of eco-friendly alternative materials that emit zero radiation or harmful gases during production acts as a restraint on market growth.

The COVID-19 pandemic significantly impacted the market in 2020, with lockdowns halting production and reducing demand in major manufacturing countries like China, the U.S., Germany, Italy, and the UK. Supply chain disruptions further hindered growth. However, with the introduction of vaccines and the resumption of construction activities, the market is expected to recover by the end of 2022. The growing demand for sustainable and time-efficient materials in emerging economies presents significant opportunities for market expansion.

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Market Segmentation
By Type
The market is bifurcated into green materials and technically advanced materials. Green materials, which are non-toxic and environmentally friendly, offer benefits like improved occupant health, lower energy costs, and reduced consumption, and are expected to register the highest CAGR during the forecast period. Technically advanced materials, incorporating recent advancements in materials technology, design, and structural analysis, held the largest market share in 2021 due to their widespread adoption in modern construction.

By Material
The market is segmented into advanced cement and concrete, cross-laminated timber (CLT), structural insulated panels (SIPs), sealants, and others. Advanced cement and concrete, including high-strength and self-consolidating varieties, dominated the market in 2021 due to their durability and versatility. CLT, a prefabricated engineered lumber, and SIPs, high-performance building systems with insulating foam cores, are gaining traction for their sustainability. Sealants, used to block fluid passage in construction, are expected to exhibit the highest CAGR, while the "others" category, including advanced fire protection materials and waterproofing solutions, also contributes to market growth.

By Application
The market is divided into building construction and infrastructure. Building construction, encompassing residential, commercial, and industrial projects, held the largest share in 2021, driven by the use of materials like concrete admixtures, polymer composites, and sealants to enhance structural integrity. The infrastructure segment, covering roads, railways, and tunnels, is expected to register the highest CAGR due to increasing global demand for efficient and durable infrastructure solutions.

By Region
The market is analyzed across North America (U.S., Canada, Mexico), Europe (Germany, France, Italy, UK, rest of Europe), Asia-Pacific (China, Japan, India, South Korea, rest of Asia-Pacific), and LAMEA (Latin America, Middle East, Africa). In 2021, Asia-Pacific accounted for the highest revenue share, driven by rapid urbanization and infrastructure development in countries like China and India. LAMEA is expected to exhibit the highest CAGR, fueled by emerging construction activities in the Middle East and Africa.

Impact of COVID-19
The COVID-19 pandemic disrupted the advanced building materials market by halting production and construction activities due to global lockdowns. Major manufacturing countries faced significant demand declines, impacting market growth. However, with vaccine rollouts and the gradual resumption of operations, the market is anticipated to recover by the end of 2022. Companies are now focusing on workforce safety, supply chain resilience, and operational efficiency to navigate future challenges.

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Competitive Landscape
Key players in the market include Saint-Gobain Group, DowDupont Inc., Kingspan Group Plc, PPG Industries Inc., BASF SE, APV Engineered Coatings Inc., Cemex, Knauf Gips KG, Oerlikon Balzers Coating India Limited, and Sherwin-Williams Company. These companies are adopting strategies like acquisitions, partnerships, and business expansions to strengthen their market positions. Notable examples include Kingspan's acquisition of Ondura and Troldtekt A/S in 2022 to expand its insulation and roofing solutions, and Sherwin-Williams' acquisition of AquaSurTech and Sika AG's European industrial coatings business to broaden its coatings portfolio.

Key Benefits for Stakeholders
This analysis provides valuable insights, including:

Quantitative analysis of market size, segments, trends, and dynamics from 2021 to 2031.

Identification of key drivers, such as infrastructure development and technological advancements, and restraints, including high costs and eco-friendly alternatives.

Porter's five forces analysis to assess buyer and supplier dynamics.

In-depth segmentation to highlight prevailing market opportunities.

Regional revenue contributions to understand global trends.

Competitive insights into major players and their strategies.

Analysis of growth strategies and application areas to guide investment decisions

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