July 25, 2024
Building Construction Partnership Market

Constructing the Future: The Building Construction Partnership Market is Trending Towards Sustainability

The building construction partnership market comprises construction materials and products that aid in sustainable construction including gypsum, cement, and building materials. With rising concerns over climate change and depleting natural resources, sustainable construction using recycled and energy efficient materials has become imperative. The global building construction partnership market offers products that help reduce the carbon footprint of construction and promote the use of waste materials.

The Global building construction partnership market is estimated to be valued at US$ 145.71 Mn in 2024 and is expected to exhibit a CAGR of 3.8% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the building construction partnership market include Knauf AG, LafargeHolcim, Yoshino Gypsum Co. Ltd., Global Mining company, Saint Gobain, Jonoub Gypsum, Georgia Pacific, Zawami Minerals Co., Rajasthan State Mines, FCI Arawali Gypsum, AI Jood Natural Resources, American Gypsum, Gypsco, Vinayak Gypsum, Gypsona, Boero USA, Arcosa Specialty Chemicals. These key players are focusing on developing sustainable and recycled construction materials to cater to the growing demand for green buildings.

The growing awareness about sustainability and environmental protection has increased the demand for green Building Construction Partnership Market Demand materials globally. Various government policies and construction codes are encouraging the use of recyclable and energy efficient materials in infrastructure development projects.

The global building construction partnership market is observing high growth in developing regions due to large scale urbanization and infrastructure development projects. The emergence of green building standards and regulations in Asia Pacific and Middle East countries is boosting the adoption of sustainable construction materials in these regions.

Market Key Trends

Rising concerns about carbon emissions from the construction industry have made sustainability a key trend in the building construction partnership market. Materials that encourage recycling and reuse of construction waste are gaining popularity. For example, recycled gypsum boards capture at least 94% of pre-and post-consumer waste and help reduce over 1 million tons of construction waste from landfills annually. Properties made with sustainable materials can also receive LEED certifications and tax credits, further propelling the uptake of green building partnerships globally.

Porter’s Analysis

Threat of new entrants: New construction firms find it difficult to enter the market due to high initial investment and established network of existing players.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and differentiated requirements of construction projects.

Bargaining power of suppliers: Major suppliers include cement, steel and wood companies. They have moderate bargaining power due to availability ofsubstitute materials.

Threat of new substitutes: Substitutes include concrete, steel, bricks and wood. However, their usage depends on type of construction and climate conditions.

Competitive rivalry: Intense competition exists among existing construction firms to take up new projects.

Geographical Regions

Asia Pacific region accounts for around 35% of the global building construction market value due to rapid urbanization and infrastructure development initiatives in countries like China and India. China represents the largest construction market in the world.

Middle East and Africa is expected to witness highest growth during the forecast period owing to huge investments in commercial and industrial building projects across GCC countries and government plans to diversify economies and enhance tourism through real estate development.

Geographical Regions

North America currently holds around 25% share of the global building construction market led by ongoing activities in United States. Presence of leading construction companies and recovering construction spending are driving growth.

Europe accounts for 20-25% share led by commercial construction boom in UK, infrastructure projects in Germany and residential construction in Nordic nations.

Latin America is majorly driven by Brazil and Mexico due to large scale investments in industrial and urban infrastructure like roads, airports and metro rail projects.

*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.