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Innovation and Technology Advancement in Construction Sector Driving the Demand for Building Materials

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Building Materials indicate the presence of aesthetics in design and define the utility of a building. Concrete is the most popular building material in the world. cement is a basic material for all kinds of construction and decoration applications, such as houses, roads, schools, hospitals, dams, etc. Wood, cement, aggregates, metals, bricks, concrete and clay are the most commonly used building materials in construction.

Innovations in building materials are a continuing reality in the construction industry, largely dominated by unbeatable technology and knowledge. New building materials enable architects to better realize their visions by enhancing structures with greater strength, durability and flexibility. New technologies are accelerating the growth of construction industry. Moreover, artificial intelligence (AI) and the Internet of Things (IoT) are helping construction companies eliminate years of inefficiency and low productivity. These breakthrough innovations have made workplaces safer and workers more productive. This has resulted in increased productivity, better collaboration, and the ability to take on more challenging projects. Responding to modern and evolving demands, innovative designs and cutting-edge materials and technologies are shaping the industries and economies.

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The global building materials market size was estimated at USD 998.36 billion in 2021, USD 1,070.45 billion in 2022, and is projected to grow at a CAGR of 6.50% to reach USD 1,865.75 billion by 2032.

New building materials can protect building occupants from inhalable hazardous chemicals such as volatile organic compounds or ingestible dust. Being surrounded by natural materials enhances people's overall well-being and is environmentally friendly. Such materials improve indoor air quality and protect humans from high exposure to toxins that can have serious health effects such as headaches, lethargy, and skin & eye irritation. For example, 3D printing in construction has not only enabled complex projects to be developed faster and more accurately, but it has also reduced labour costs and reduced waste. The use of drones and multiple robotic devices is also very beneficial. They have contributed to highly efficient tracking and inspection of hard-to-reach areas of the project, resulting in a safer working environment.

Some of the leading and top building materials companies in the global building materials market include Ambuja Cements Ltd., Anhui Conch Cement Co., Ltd., Asia Cement Public Company Ltd., Athabasca Minerals Inc., Atlas Concrete, BBMG Corporation Ltd., Boral Limited, CEMEX S.A.B. de C.V., China National Building Material Co., Ltd., Compagnie de Saint-Gobain S.A., CRH PLC, Ferguson PLC, Grasim Industries Limited, HeidelbergCement AG, Jaypee Group, LafargeHolcim Ltd., Lixil Group Corporation, UltraTech Cement Ltd., and Other Players.

On the basis of material, the worldwide building materials market can be segmented into aggregates, concrete bricks, ceramic facing & floor tiles, composites, glass, metal, precast concrete, wood & wood products, and others. In terms of applications, global building materials market can be segmented into residential sector, industrial sector, commercial sector, and others. By region, the global building materials market is segmented into North America, Europe, Asia-Pacific, Central and South America, and the Middle East and Africa. The market for building materials worldwide is dominated by North America. The building materials market in the region is growing due to strict legislation regarding the use of environmentally friendly products in the construction sector.

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