This study aims to provide a growth outlook and top predictions for 2021 for the global construction materials market. The scope of the study comprises analysis of the construction materials market by material and geographic segmentation.
The consumption of construction materials is dependent on the demand from construction activities across the globe. Construction activities are witnessing a slowdown in the near term because of lockdowns brought in by governments around the world to control the COVID-19 pandemic. The slowdown is expected to impact the construction materials market as well.
Meanwhile, governments, regulatory authorities, and end customers are increasingly wary of the accumulation of construction waste and its recyclability, and the need for environment-friendly and circular solutions. These factors are encouraging construction developers as well as building material suppliers to focus on developing recyclable, sustainable, and energy-efficient alternatives. Manufacturers are also focusing on developing products without compromising the quality, durability and overall costs of manufacturing the materials. Developers are also focusing on bio-based materials such as cork and bamboo and are increasingly using them for structural and insulation applications for a building.