LONDON--(BUSINESS WIRE)--SpendEdge has been monitoring the global building materials market and the market is poised to experience spend growth of more than USD 200 billion between 2018-2023 at a CAGR of over 5% during the forecast period. Request Free Sample Pages.
This increase in building materials procurement will be primarily driven by the steep rise in construction activities spurred by the rapid industrialization and urbanization in the developing nations. In a bid to achieve sustainability goals, organizations are exhibiting a large-scale procurement of green building materials that are expected to give a major boost to spend growth of the building materials market at a CAGR of nearly 12%.
Home to the second-fastest-growing construction industry in the world, APAC will dominate the building materials market during the forecast period. The steadily increasing construction of commercial spaces in India, China, Indonesia, and South Korea will contribute to spend momentum on the market. North America has a series of infrastructure construction projects such as Newark liberty international airport – regional plan association, and the Plaquemines project, among others, in the pipeline. This is indicative of an exponential increase in the building materials market in this region.
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Insights into the building materials price trends
- An increase in the mining of gypsum is leading to a steady decline in the price of this commodity which is also impacting the building materials procurement price. The price growth was lesser in the first quarter of this year than compared to the last year’s growth.
- The prevalence of protectionist trade policies pertaining to a majority of raw materials will propel the manufacturing costs of building materials that include costs of raw materials such as silica, pet coke, and limestone. This will have an inflationary impact on the procurement price for buyers.
Insights into strategies that will help buyers optimize their building materials procurement spend
- Buyers should conduct LCA before building materials procurement. This will allow them to identify material performance, environmental impact, reusability, and recyclability or disposal at the end of their life. The results can be considered by buyers to select the appropriate building materials with high longevity and sustainability.
- It is prudent of buyers to adopt local sourcing of building materials. This helps in the reduction of logistics and inventory costs. Moreover, it facilitates JIT procurement, which can significantly reduce storage costs.
COVID-19 Impact Assessment and Market Insights
SpendEdge’s reports now include an in-depth complimentary analysis of the COVID-19 impact on procurement and latest market data to help your company overcome sourcing challenges. Our Building Materials Procurement Market Intelligence Report offers actionable procurement intelligence insights, sourcing strategies, and action plans to mitigate risks arising out of the current pandemic situation. The insights offered by our reports will help procurement professionals streamline supply chain operations and gain insights in the best procurement practices to mitigate losses.
To stay on top of latest trends and supply market information, check out SpendEdge’s knowledge center on COVID-19 impact assessment.
The top building materials suppliers enlisted in this report
This building materials procurement market intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.
- Compagnie de Saint-Gobain SA
- CEMEX SAB de CV
- CRH Plc
- Sika AG
- HeidelbergCement AG
- LafargeHolcim Ltd.
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Some of the key topics covered in this report are:
- Building materials market spend segmentation by region
- Building materials supply market analysis
- Building materials procurement best practices
- Regional spend opportunity for building materials suppliers
- Building materials suppliers cost structure
- Total cost of ownership analysis in the building materials market
- Building materials suppliers pricing models analysis
- Category management objectives to promote an optimized building materials procurement
- Cost saving opportunities in the building materials market
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About SpendEdge:
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