Global Paving Materials Market: Highlights
- A pavement, in construction, is an outdoor floor or superficial surface covering. Various types of paving materials are available in the market. Some of them include asphalt; concrete; stones such as flagstone, cobblestone, and setts; artificial stone; bricks; and tiles. In landscape architecture, pavements is a part of the hardscape and they are used on sidewalks, road surfaces, patios, courtyards, etc.
- Some paving materials, such as decorative concrete, offer more design versatility, facilitating a broad range of colors and patterns. Their applicability can be largely seen in residential construction, non-residential construction, and commercial construction.
Key Drivers of Global Paving Materials Market
- Increasing demand for paving materials for use in various constructional activities has promoted growth of the global market for paving materials. There has been increase in constructional activities across the globe over the last few years. According to Statistics Bureau of Ministry of Internal Affairs & Communications of Japan, the country spent US$ 30,380 Bn on construction in 2017, out of which US$ 16,570 Bn were spent on residential buildings and US$ 13,810 Bn on non-residential buildings. Thus, with growth of the construction industry, the demand for paving materials is also expected to increase in the near future.
- The U.S. has also spent significant amounts on construction activities. According to the U.S. Census Bureau, the U.S. Government spent US$ 1,303,469 Mn on overall constructional activities in the year 2019.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF sample of Paving Materials Market report
Global Paving Materials Market, by Application
- In terms of application, the global paving materials market can be segmented into residential construction, non-residential construction, commercial construction, and others. The commercial construction segment is projected to account for a major share of the global market by 2027.
- Expanding at a significant growth rate, the non-residential construction segment is expected to create significant incremental opportunity during the forecast period
- Growth rate of residential construction and others segments is expected to remain moderate to high during the forecast period
Asia Pacific to be a Key Market for Paving Materials
- In terms of region, the global paving materials market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In Asia Pacific, the consumption of paving materials is much higher compared to other regions.
- In terms of demand, Asia Pacific holds the maximum share of the global market, followed by North America and Europe. China was the leading market for paving materials in Asia Pacific, in terms of both volume and value, in 2018. Growing usage of paving materials in residential, non-residential, and commercial applications is expected to drive the market in the region during the forecast period. In China, the overall real estate investment increased by 6% since 2015 to reach over US$ 1.8 Trn in 2018. This investment has been largely focused on residential buildings.
- North America also held a considerable share of the global paving materials market in 2018. Some of the factors driving the market in the region are superior growth of end-use industries and increased number of domestic players in end-use industries.
- The paving materials market in Latin America and Middle East & Africa is estimated to expand at a moderate pace during the forecast period
Expanding operations in future? To get the perfect launch ask for a custom report on Paving Materials Market
Key Manufacturers Operating in Global Paving Materials Market
The global paving materials market was highly fragmented in 2018. Key manufacturers operating in the global market are:
- Veidekke ASA
- Boral Ltd
- Cementos Portland Valderrivas SA
- Grupo Cementos de Chihuahua SAB de CV
- Martin Marietta Materials
- Owens Corning
Global Paving Materials Market: Research Scope
Global Paving Materials Market, by Type
- Concrete Tiles
Global Paving Materials Market, by Application
- Residential Construction
- Non-residential Construction
- Educational Institutions
- Health Care
- Auditoriums & Convention Centers
- Commercial Construction
- Office Spaces
- Malls & Supermarkets
- Leisure & Hospitality
Global Paving Materials Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note:Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.