APAC Advanced Building Materials Market Size
| 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.
APAC Advanced Building Materials Market Trends
Infrastructure developments driving the market demand
- The Asia-Pacific region is currently experiencing significant growth in infrastructure development projects, primarily driven by increased investments. This surge in investment is, in turn, bolstering the demand for advanced building materials within these projects. For example, in May 2022, the United States, India, and Australia announced plans to invest over USD 50 billion in infrastructure projects across the Asia-Pacific region.
- Moreover, developing countries such as India, China, and Japan are undergoing numerous infrastructure projects, which are further propelling their respective economies. In April 2023, the Indian government revealed plans for infrastructure projects exceeding USD 740 million. Additionally, through the National Infrastructure Pipeline, the government aims to allocate more than USD 1,300 billion to infrastructure development projects in India.
- Meanwhile, in May 2023, Japan committed to funding India with over USD 860 million for three infrastructure projects, including the Patna Metro Rail Construction Project and the Rajasthan Water Sector Livelihood Improvement Project. Furthermore, Chinese public expenditure in 2022 witnessed a substantial growth of over 5% compared to the previous year. Consequently, these increasing investments in infrastructure development projects across the Asia Pacific region are generating a significant demand for advanced building materials.
China construction sector is driving market growth
- The Chinese construction industry is experiencing significant growth despite the pandemic crisis, fueled by substantial investments in infrastructure as outlined in the 14th Five-Year Plan (spanning from 2021 to 2025). This plan comprises 20 quantitative targets across five categories. The Chinese government has allocated over USD 1.1 trillion for diverse infrastructure projects nationwide by 2023, further boosting the development of advanced building materials manufacturing plants in the country.
- Additionally, in 2022, the Chinese government earmarked more than USD 14 billion for green construction projects aimed at curbing pollution associated with buildings. To achieve net-zero carbon emission goals, the government allocated over USD 780 million specifically to mitigate building-related pollution.
- Furthermore, efforts to preserve cultural heritage involve the construction of numerous museums nationwide. For example, the Beijing Municipal Cultural Heritage Bureau planned to build over 460 museums in the city by February 2023, with more than 215 museums already registered. These continuous investments and expanding projects have driven the country's construction output to grow by over 6% compared to the previous year, thereby generating increased demand for manufacturers of advanced construction materials.
APAC Advanced Building Materials Industry Overview
The report covers prominent players operating in the Asia-Pacific advanced building material market. The market is highly competitive and fragmented, with no players occupying a significant share. To remain competitive, the major players are constantly working to enhance their product offerings, expanding their geographical presence, and constantly being involved in mergers and acquisitions. Some of the major players in the market include Huitian, Bondzil, Saint-Gobain Group, Henkel Balti OÜ, Shin-Etsu Chemical Co., Ltd, etc.
APAC Advanced Building Materials Market Leaders
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Saint-Gobain Group
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Henkel Balti OÜ
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Huitian
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Bondzil
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Shin-Etsu Chemical Co., Ltd
*Disclaimer: Major Players sorted in no particular order
APAC Advanced Building Materials Market News
- June 2023: Henkel, a chemical and consumer goods company, inaugurated a new manufacturing facility for its Adhesive Technologies business unit within the Yantai Chemical Industry Park in Shandong Province, China. The company invested more than USD 134 million across 150,000 square meters, which includes state-of-the-art automated production workshops and an 8,000m2 smart warehouse aimed at meeting the escalating demand from both domestic and international markets.
- April 2023: Saint-Gobain, a global manufacturer of glass and building materials, announced plans to invest between USD 730 million and USD 970 million over the next two years for the expansion of its operations in India. The company intends to expand by establishing new greenfield and brownfield facilities, as well as allocating 15% towards mergers.
APAC Advanced Building Materials Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
- 2.1 Analysis Methodology
- 2.2 Research Phases
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Current Market Scenario
- 4.2 Insights on Technological Trends
- 4.3 Industry Value Chain/Supply Chain Analysis
- 4.4 Spotlight on Government Regulations and Key Initiatives in the Market
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4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.1.1 Increase in government expenditures for infrastructural development
- 4.5.1.2 Need for reduced construction time and cost-effective products
- 4.5.2 Restraints
- 4.5.2.1 High initial investments
- 4.5.3 Opportunities
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4.6 Industry Attractiveness - Porter's Five Forces Analysis
- 4.6.1 Threat of New Entrants
- 4.6.2 Bargaining Power of Buyers/Consumers
- 4.6.3 Bargaining Power of Suppliers
- 4.6.4 Threat of Substitute Products
- 4.6.5 Intensity of Competitive Rivalry
- 4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
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5.1 By Application
- 5.1.1 Building Construction
- 5.1.2 Infrastructure
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5.2 By Type
- 5.2.1 Green Materials
- 5.2.2 Technically Advanced
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5.3 By Material
- 5.3.1 Advanced Cement And Concrete
- 5.3.2 Cross-Laminated Timber
- 5.3.3 Structural Insulated Panel
- 5.3.4 Sealants
- 5.3.5 Other Materials
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5.4 By Country
- 5.4.1 China
- 5.4.2 India
- 5.4.3 Japan
- 5.4.4 South Korea
- 5.4.5 Australia
- 5.4.6 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
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6.2 Company Profiles
- 6.2.1 China National Building Material Group Corporatio
- 6.2.2 Henkel Balti OU
- 6.2.3 China Lesso
- 6.2.4 Huitian
- 6.2.5 Zamil Steel Buildings India Private Limited
- 6.2.6 Kingspan Jindal
- 6.2.7 Bondzil
- 6.2.8 Ultratech Cement Limited
- 6.2.9 Arto Precast Concrete
- 6.2.10 Saint-Gobain Group
- 6.2.11 BASF SE
- 6.2.12 DuPont
- 6.2.13 Sika AG
- 6.2.14 Shin-Etsu Chemical Co., Ltd*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. APPENDIX
APAC Advanced Building Materials Industry Segmentation
Advanced building materials are referred to as the new generation of construction materials with exceptional properties, making buildings and infrastructure smarter, more sustainable, energy-efficient, and resilient. Furthermore, this report covers market insights, such as market dynamics, drivers, restraints, opportunities, technological innovation, its impact, Porter’s five forces analysis, and the impact of COVID-19 on the market. In addition, the report also provides company profiles to understand the competitive landscape of the market.
The Asia-Pacific (APAC) advanced building material market is segmented by application (building construction, infrastructure), by type (green materials, technically advanced), by material (advanced cement and concrete, cross-laminated timber, structural insulated panel, sealants, and others), and by country (China, India, Japan, South Korea, Australia, rest of Asia-Pacific).
The report offers market size and forecasts for the Asia-Pacific advanced building materials market in value (USD) for all the above segments.
| By Application | Building Construction |
| Infrastructure | |
| By Type | Green Materials |
| Technically Advanced | |
| By Material | Advanced Cement And Concrete |
| Cross-Laminated Timber | |
| Structural Insulated Panel | |
| Sealants | |
| Other Materials | |
| By Country | China |
| India | |
| Japan | |
| South Korea | |
| Australia | |
| Rest of Asia-Pacific |
APAC Advanced Building Materials Market Research FAQs
How big is the APAC Advanced Building Materials Market?
The APAC Advanced Building Materials Market size is expected to reach USD 30.07 billion in 2024 and grow at a CAGR of 8.30% to reach USD 44.80 billion by 2029.
What is the current APAC Advanced Building Materials Market size?
In 2024, the APAC Advanced Building Materials Market size is expected to reach USD 30.07 billion.
Who are the key players in APAC Advanced Building Materials Market?
Saint-Gobain Group, Henkel Balti OÜ, Huitian, Bondzil and Shin-Etsu Chemical Co., Ltd are the major companies operating in the APAC Advanced Building Materials Market.
What years does this APAC Advanced Building Materials Market cover, and what was the market size in 2023?
In 2023, the APAC Advanced Building Materials Market size was estimated at USD 27.57 billion. The report covers the APAC Advanced Building Materials Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the APAC Advanced Building Materials Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
APAC Advanced Building Materials Industry Report
Statistics for the 2024 APAC Advanced Building Materials market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. APAC Advanced Building Materials analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
