Rising Industrialization in Developing Nations Will Boost Global Construction Industry

Growth in the construction industry is driven by general economic conditions, growing affluence of people, and consequently demand for residential and commercial buildings. Construction sector is characterized with increased number of off-shoring activities to reduce operational costs and maximize profits.

San Jose, CA (PRWEB) September 15, 2008 -- Construction industry is influenced by economic growth, increasing levels of personal income, prices of energy and steel, credit availability, interest rates and industrialization efforts. Rising living standards in developing countries such as China and India will bolster demand for new housing construction, as well as renovation/repair sector with more durable and aesthetically pleasing materials. In Eastern Europe and Africa, building construction and economic expansion will boost construction industry. Unlike developing regions, the industrialized nations will witness restrained increases in construction activity based on slowing economy, weak housing environment and maturity of the building infrastructure. In developed economies, new non-residential constructions as well as remodeling and renovation projects will foster global construction industry.

Traditionally, building materials have remained a functionality driven arena. With a general increase in the standard of living world over, there is an increasing consumer preference for aesthetic products. Looks and external appearance of buildings is molding the consumption pattern in building materials industry. Glass materials are gaining significance for its energy efficiency features and ability to transmit natural light. Inter-segment competition has warmed-up due to the rise of plastics as cheaper and better alternatives to metals, glass and wood in construction. Though market for green building materials currently accounts for minuscule of the global building materials market, the trend is expected to pick up in imminent years due to rising interest in eco-friendly green buildings.
 
The metal building system segment has the highest levels of product development within the nonresidential prefabricated building system industry. Major development efforts within this segment are aimed at improving the performance features and cost efficiency of the systems. Advanced finishes used on wall and roof panels provide an important method of improving the performance of metal building systems.

Worldwide roofing materials market is influenced with rise in construction activity both residential and commercial, in major markets such as China and the US. Economic expansion in Asian countries will raise demand for construction and roofing materials. In roofing material sector, Asphalt Roll Roofing materials and Elastomeric Roofing materials are key growth drivers. Demand is also growing for reproofing materials such as long lasting products for visually appealing products.

The report titled "Construction Industry: A Global Outlook" provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report acquaints the reader with the industry's changing dynamics and provides brief insights into the recent developments, mergers, acquisitions, and other strategic industry activities. With a special focus on the challenged, and faltering US market, discussions in this section are punctuated with 24 data rich tables evaluating construction-spending patterns across sectors, company market shares by revenue, construction contract market by value, private and public construction market by spending, and number of new housing starts, among other parameters. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 1,820 companies worldwide.

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