Building and Construction Sheets Market - Growth, Trends, and Forecasts (2023 - 2028)

The building and construction sheets market is poised to register a CAGR of more than 4% during the forecast period.

A large volume of building and construction sheet companies felt the impact of the COVID-19 pandemic in multiple dimensions, and they are now emphasizing sustained growth over the long-term future. As the global building and construction sheet and other chemical industries play a vital role in the economic recovery of countries, such companies are likely to witness potential opportunities in the short term period.

The use of polymer and metal sheets in sound and waterproofing, roofing, heating, ventilating, and air conditioning (HVAC) is predicted to increase the demand for sheets in the near future. The increasing population and speedy growth of urbanization and industrialization in emerging economies are forcing the government to accelerate investment in the building and construction sheets market. The accelerated investment will further satisfy infrastructural rising needs and ultimately boost the market. Besides, the market is projected to experience significant growth in the construction industry due to the rising disposable income in developing countries.

The growing construction industry across the world, coupled with rising population, rapid urbanization, and industrialization in emerging economies, is expected to drive market growth over the forecast period.

Increasing construction spending by governments in various countries, especially in China and India, to meet rising industrial and public infrastructure requirements is expected to be a major factor driving the demand for the product in construction applications over the forecast period. As a result, Asia-Pacific is expected to remain the fastest-growing construction market.

Building & Construction Sheets Market Trends

The Asia-Pacific Region Leads in Demand for Polycarbonate Sheets

The Asia-Pacific market is anticipated to be a leader for polyolefins with respect to demand. The region has the presence of many global leaders in polymer sheet manufacturing. The region has a relatively high growth rate as a result of its continuously increasing demand. The demand in the region is mainly due to the increasing appetite for polymer sheets in China. The Middle East, being the second fastest-growing polyolefins market globally, is witnessing high industrial growth, which hints at increasing demand for polyolefins for their diverse applications.

India's polymer demand is likely to bounce back with a robust growth due to a sharp recovery in economic activity on account of a sustained fall in new COVID-19 cases in the country.

The market for extruded polymer for signage and interior partition applications in Asia-Pacific is dominated by PMMA resin. However, ongoing refinement of formulations by key players along with cost benefits and superior mechanical, thermal, and chemical properties exhibited by the product may enhance its application scope in the construction sector.

Steel Sheets Leads the Building and Construction Sheets Industry

Steel is projected to be the largest segment of the global sheet metal market. The key factor driving the growth of the segment is the high tensile strength of the material that is offered at a low cost. Steel sheet metal is widely used in multiple end-user industries. For instance, the construction sector accounts for around 50% of global steel consumption.

The increasing demand for HVAC systems in the commercial sector for energy conservation is expected to boost the market growth during the forecast period. Asia-Pacific is expected to be the largest and fastest-growing regional market during the forecast period. The growth is attributed to rapid industrialization and urbanization in the region. Moreover, the continuously growing population is further expected to boost the production and consumption of sheet metal during the forecast period.

Building & Construction Sheets Market Competitive Analysis

The market is quite fragmented but highly competitive, with large players catering to the international market and local players to the regional demand. Also, the availability of a large number of product suppliers across the regions is likely to restrain the entry of new players into the industry.

The major players in the market mostly offer a wide range of construction products as opposed to manufacturing only a single type of product. As a result, these companies mostly compete based on pricing and product portfolios. The companies strive to gain market share by providing specialized and installation services.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support