The construction sustainable materials market is finding opportunities in the emerging economies as countries such as China and India are concentrating on infrastructural development. Increasing modernization and urbanization has reflected the focus on using environmentally friendly and sustainable construction materials. The companies in this market are competing against each other to tap the emerging markets in the new regions, with a broad product portfolio, targeting specific needs of the construction industry. The U.S., Asia-Pacific, and the European region account for the majority of the companies in this industry, which cater to global clientele by collaborating with different distribution channels.
It is estimated that the demand for material in the construction sector will double by 2050. Acknowledging this development, LafargeHolcim, one of the key players in the market, has staked $2 million to promote sustainable construction through a global competition that seeks to provide smart solutions for cities and the environment.1
In another development, chemical giant, BASF, announced, in September 2017, of its agreement to purchase Solvay's Polyamides business for €1.6 billion on a cash and debt-free basis. This deal will strengthen BASF's position as a solution provider to various industries, and enhance a backward integration into key raw materials. A company press release outlined the potential benefits to the transportation, construction, industrial applications and consumer industries.2
Prior to this, building products maker, Certain Teed Corp. announced in July 2017 that it is acquiring SimTek Fence. In a July 5 news release, CertainTeed president Benoit Bazin said: "This acquisition adds a key innovation to our outdoor living products portfolio, specifically our Bufftech premium fence line."3
The construction sustainable materials market is gaining traction rapidly and the potential growth for this market is expected to be strong. Acknowledging this growth trend in the market, BIS Research has compiled a report titled ‘Global Construction Sustainable Materials Market, Analysis & Forecast, 2017-2026'. According to the analyst at BIS Research, "the global construction sustainable materials market is expected to grow at a double-digit CAGR from 2017 to 2026 to reach $523.72 billion by 2026." The growth of this market is attributed to the various benefits provided by sustainable materials such as environmental benefits, emission reduction, less energy consumption, and the material's potential to be recycled and reused.
Some of the key players in the market such as Badische Anilin- und Soda-Fabrik (BASF) SE, E. I. du Pont de Nemours and Company (Du Pont), Pittsburgh Plate Glass (PPG) Industries, Owens Corning Corporation, Alumasc Group PLC, Bauder Ltd., Certain Teed Corporation, Red Built LLC, among others, are adopting various strategies such as expansions, agreements, new product launches, contracts, partnerships, collaborations, and mergers & acquisitions to enhance their market share in the construction sustainable materials market.
References:
1 The Guardian Ng
2 TCT Magazine
3 Plastic News
