LONDON–(BUSINESS WIRE)–SpendEdge has been monitoring the global building materials market and the market is poised to experience spend growth of more than USD 200 billion between 2018-2023 at a CAGR of over 5% during the forecast period. Request Free Sample Pages.
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The rapid phase of industrialization in developing countries will result in a steep rise in construction activities. This will act as one of the primary growth drivers in the building materials market. The pressing necessity to adhere to the global environmental regulatory framework will drive enterprises to procure green building materials which will contribute to spend growth in the building materials market.
In terms of regional spend growth, APAC has the largest share to claim in the global building materials market. The increase in the construction of commercial spaces in India, China, Indonesia, and South Korea will contribute to spend momentum of this market. The unveiling of a series of infrastructure construction projects such as the Newark liberty international airport – regional plan association, and the Plaquemines project, among others, will create massive requirements and will drive spend growth in this market to a significant extent. Out of the market segments, cement held a significant share in the overall spend growth in the building materials market in the US last year owing to the Making it In America initiative. This initiative will lead to an increase in the construction of manufacturing facilities, which will further drive the demand for cement during the forecast period.
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Insights into the market pricing trends
An increase in the mining of gypsum will result in a steady decline in the price of this commodity which will also impact the price of building materials. The price growth was lesser in the first quarter of this year than compared to the last year’s growth.
- The prevalence of protectionist trade policies pertaining to a majority of raw materials will propel the manufacturing costs of building materials that include costs of raw materials such as silica, pet coke, and limestone. This will have an inflationary impact on the procurement price for buyers.
Insights into the supply market that will have potential impacts on your procurement strategy
- Countries like China, India, and the US have a higher concentration of building materials suppliers, particularly of the cement suppliers. Such a high concentration is attributed to the significant availability of raw materials, such as limestone, chalk, and clay, and companies with high annual production capacity.
- Buyers tend to segregate the supply pool based on annual production capacity, type of materials, supplier location, ability to provide dedicated production capacity, and logistical capabilities, among other factors. This rationalization of the supply base will allow buyers to minimize a significant amount of transaction costs and reduce management efforts toward supplier management.
Some of the top building materials suppliers enlisted in this report
- Compagnie de Saint-Gobain SA
- CEMEX SAB de CV
- CRH Plc
- Sika AG
- HeidelbergCement AG
- LafargeHolcim Ltd.
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Some of the key topics covered in this report are:
- Building materials market spend segmentation by region
- Building materials supply market analysis
- Regional spend opportunity for building materials suppliers
- Building materials suppliers cost structure
- Total cost of ownership analysis in the building materials market
- Building materials pricing models analysis
- Category management objectives
- Cost saving opportunities in the building materials market
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