Building Materials – 2013 Global Strategic Business Report
The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. Annual estimates and forecasts are provided for the period 2010 through 2018. Also, a six-year historic analysis is provided for these markets. Asia-Pacific represents the largest and the fastest growing market for building materials, worldwide. Strong construction activities as a result of mass exodus of manufacturing and production bases to low-cost Asian countries, continuous industrialization in regional powerhouses such as China and India, and growing demand for residential and commercial constructions are expected spur demand for building materials in the region. China in particular is witnessing escalating demand for various types of building materials led by steady economic growth, expanding middle class population, and increased allocations for various infrastructure projects. Residential construction activity in the country would be driven by rising household incomes as well as government measures directed at providing affordable housing to low-income groups. Within Asia-Pacific building materials market, cement and concrete represents the largest segment. China and India are the leading producers of cement across the world. The US, which was the epicenter of the economic recession, witnessed steep decline in demand for building materials. The sector is on the recovery mode driven by improving economic scenario and recovering housing market. Tiles segment is expected to grow at the fastest compounded annual growth rate in the global building materials market. The economic recession of 2008 and 2009 led to a steep fall in demand for tiles, with developed countries such as the US, Japan, and Europe being the worst hit markets. The economic crisis had a significant impact on pricing of tiles with designers opting for cheaper tiles, a trend that is expected to continue in the near future. The market is also witnessing favorable demand prospects for green tiles, which is expected to strengthen further in the coming years due to the growing environmental consciousness of consumers. Future growth would be driven by the pace of recovery in the residential construction market. Favorable demand from developing countries of Asia-Pacific, Latin America, and Middle East regions bodes well for the market (Source: Global Industry Analysts).