GCC Advanced Buildings Materials Market Market Size (2024 - 2029)

GCC Advanced Buildings Materials Market Analysis

The GCC Advanced Buildings Materials Market size is estimated at USD 2.80 billion in 2024, and is expected to reach USD 4 billion by 2029, growing at a CAGR of 7.29% during the forecast period (2024-2029).

• The GCC advanced building materials market is driven by the expanding construction sector in the GCC, and smart-city and smart-home initiatives in the GCC are driving market growth.
• The advanced building materials market has been hampered greatly during the lockdown period as a result of the outbreak of the COVID-19 Pandemic. The segments that were affected the most were the construction and infrastructure segments. On a positive note, the market has started recovering since the end of 2021, according to industry experts.
• Major international global players mainly dominate the GCC advanced buildings materials market. Some of the main factors that have accelerated the market growth in the GCC region are extensive government initiatives and efforts for infrastructural development such as construction, infrastructure, and transportation infrastructure developments. Most Importantly, the need for minimum construction time and more sustainable products is driving the demand for advanced materials for construction applications. Also, the continuous developments that are introduced in the manufacturing technology of advanced building materials are one of the major driving factors of the market.
• Some of the factors restraining the market growth are the higher cost of advanced building materials, the availability of skilled laborers, and changes in properties of ABMs in different environments of application. As the GCC region is heading towards decarbonization and rolling out green building initiatives, the scope of smart cities is expected to increase in the forecast period, thus driving demand for new chemicals and advanced materials in building and construction in the GCC region.
• Among the widely used advanced building materials in the market, the advanced cement and concrete category holds the highest market share. This is beacause of the fact this cement and concrete material provide numerous advantages, including higher strength, better durability, and lower environmental effect as compared to the traditional concrete and cement. Advanced construction materials often include sealants because they help keep moisture and air from penetrating a structure's shell.

GCC Advanced Buildings Materials Industry Segmentation

Advanced Building Materials (ABMs) are the new generation construction materials that possess advanced properties that make buildings and infrastructure more sustainable, smarter, and energy-efficient. A few examples of ABMs include innovative wooden structures, concrete (with lower carbon and fibers that improve its durability and resistance with air purifying capabilities), and glass with enhanced qualities (photovoltaic embedded construction glass and electrochromic glass). 

The GCC advanced building material market is segmented by application (building construction, infrastructure), by type (green materials, technically advanced), by material (advanced cement and concrete, cross-laminated timber, structural insulated panel, sealants, and other materials), and by countries (Saudi Arabia, UAE, and Others). The report offers market size and forecasts for the GCC advanced building material market in value (USD) for all the above segments.