Dry construction market to cross $ 102.8 billion by 2027
Pune, June 14, 2021 (GLOBE NEWSWIRE) – Global dry construction market was valued at $ 79.7 billion in 2019 and is expected to reach $ 102.8 billion by 2027 at a CAGR of 5.1% during the forecast period (2020-2027).
The dry outlook for the construction market looks extremely promising. Factors such as the increase in popularity of dry concrete in recent years and the expansion of the construction industry are driving the growth of the market. In addition, the increasing adoption of dry construction methods for commercial constructions, along with the strong growth of the global economy and substantial investments in the development of the construction industry, are influencing the market landscape.
With the vast demand and adoption of dry construction techniques in the construction of green buildings and sustainable structures, the market is expected to accelerate further in the recent future. According to Market Research Future (MRFR), the global dry construction market value is poised to reach exponential highs by 2027, continuously increasing at an impressive CAGR during the assessment period (2020 to 2027 ).
Dry Construction Technique (DCT) refers to the advanced construction methods used to reduce the consumption of concrete and its impact on the environment. The dry construction technique is a pioneer in global high-end construction standards. DCT involves the use of lightweight construction parts, such as interior walls, ceilings and floors, developed using plasterboard or microfiber panels assembled at the time of installation.
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The dry construction method is gaining popularity over other concrete materials, due to the increasing demand for profitability, high durability, ease of maintenance and lower costs. The construction industry encourages its efforts to manage and reduce its carbon footprint which seriously affects the environment. The CO2 footprint is a primary challenge for the environment due to various chemicals used in concrete formulations.
Supportive government initiatives to promote the use and investment and adoption of advanced construction techniques in infrastructure development projects are the main trends in the dry construction market. In addition, the huge R&D investments made by construction companies justify the dry construction market share. Emerging countries around the world present many untapped opportunities for the market, with updated government mandates and policies.
On the other hand, the market is still experiencing significant setbacks, such as high initial investments required for the implementation of these construction techniques. Nonetheless, the favorable properties of dry construction methodologies allowing optimization of construction works would support the market growth throughout the evaluation period. In addition, the sustainable and green practices followed in dry construction help to obtain building permits faster.
In addition, technological advancements that bring more and more software, effectively facilitate construction processes and help builders enter design data for the project, increase the dry construction market share. These factors, along with the inflations of traditional construction methods, are expected to contribute to the growth of the market, suggesting that dry construction techniques are here to stay.
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The dry construction market forecast is segmented into material, type, system, application, and regions. The materials segment is sub-segmented into plasterboard, metal, plastic, wood and others. Among these, the gypsum board segment holds the largest market share due to the lightness, superior aesthetics, flexibility and durability of these materials. The segment is expected to grow at a phenomenal CAGR during the review period.
The type segment is sub-segmented into support frame and boarding. Among these, the support frame segment holds a larger market share due to its properties, such as fire protection, sound installation and stability. The system segment is sub-segmented into ceiling system, wall system, flooring system and others. Among these, the ceiling systems segment holds the largest market share due to its water resistance property, superior aesthetic appeal and ease of installation.
The applications segment is sub-segmented into residential and non-residential. Among these, the residential segment holds the largest market share due to the increase in various construction projects, mainly in emerging countries. The non-residential segment is then segmented into hospitals and health centers, office spaces, hotels and restaurants, public services, educational and industrial establishments. By regions, the market is sub-segmented into Asia-Pacific, Americas, Europe and rest of the world.
The Asia-Pacific region dominates the global dry construction market. Factors such as rapid economic growth and increasing number of infrastructure projects backed by huge investments justify the region’s dry construction market. The rapidly growing construction sector in the region is undergoing a massive transformation, with a number of mega construction projects currently planned.
The increasing flow of foreign investment to India further encourages the dry growth of the construction market in the region. The APAC dry construction market is expected to grow at a healthy CAGR during the forecast period.
North America ranks second in terms of dry construction market value globally. Market growth is driven by increasing consumer awareness of the benefits and adoption of dry construction techniques for commercial building construction. In addition, the increase in the construction of residential and commercial complexes is increasing the size of the region’s dry construction market.
Europe is a lucrative market in terms of dry construction market income. The high growth potential and increasing adoption of dry construction methods are propelling the market growth. The area has seen increased interest in modern construction techniques. In addition, the booming construction sector and witnessing constant renovation activity justifies the region’s dry construction market share.
In addition, the well-defined infrastructure and growing economy create significant market opportunities. Germany, Italy and France are the main dry construction markets in the region, holding significant shares. In addition, the increase in green building structures creates a substantial demand for ready-mixed concrete.
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The dry construction market is witnessing several strategic initiatives, such as mergers and acquisitions, collaboration, expansion and product launches. The main players in the industry are making strategic investments in R&D activities and expansion plans.
For example, recently on June 02, 2021, the Central Department of Public Works (CPWD) in India announced the adoption of dry construction, a non-polluting and environmentally friendly technology, for the construction of two large apartment buildings. offices in the nation’s capital. Overall, dry construction technology accounts for about 80% of the total work. Outraged,
other environmentally friendly practices promoting energy and water efficiency have been adopted to make buildings green. The foundation is made of reinforced cement concrete with crystalline admixture and zinc cathodic protection system to reduce the porosity of the concrete and the corrosion of the reinforcing bars, thus increasing its durability.
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