Weyerhaeuser Company (U.S.) and West Fraser (Canada) are leading players in the Wooden Decking Market

Wooden decks are manufactured using a primary wooden core structure and lumber. Wooden decks are strong, durable, and capable of bearing enough weight to support home owners enjoy an extended living area. MarketsandMarkets projects that the wooden decking market size will grow from USD 7.21 Billion in 2015 to USD 7.81 Billion by 2021, at a CAGR of 1.43% from 2016 to 2021. The increase in demand of wooden decks from residential applications is driving the growth of the wooden decking market.

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The key players in the wooden decking market are UPM-Kymmene Corporation (Finland), Weyerhaeuser Company (U.S.), West Fraser Timber Co. Ltd. (Canada), Universal Forest Products, Inc. (U.S.), Metsa Group (Finland), Setra Group (Sweden), James Latham plc (U.K.), Cox Industries Inc. (U.S.), Humboldt Redwood Company and Mendocino Redwood Company (U.S.), and Vetedy Group (U.S.). These players have adopted various strategies to expand their global presence and increase their market share. Mergers & acquisitions, partnerships & agreements, investments & divestures, and new product launches are some of the key strategies adopted by the market players to achieve growth in the wooden decking market.

The year 2014 witnessed several mergers & acquisitions and agreements & partnerships in the wooden market by the key players in order to expand their geographical footprint and improve their distribution network through the means of vertical acquisitions. Agreements & partnerships was the second-most adopted key strategy by the market players to increase their share. The increase in demand for wooden decks and high construction growth in emerging markets have encouraged companies to adopt this strategy.

Weyerhaeuser Company (U.S.) merged with Plum Creek Timber Company, Inc. to produce advanced timber and forest products. It continuously focuses on enhancing its global presence by acquiring smaller companies. The company acquired Longview Timber LLC (U.S.) from affiliates of Brookfield Asset Management (Canada), which expanded Weyerhaeuser’s timber holdings in the Pacific Northwest by 33%. The company operates globally with its broad range of product portfolio and is focused on establishing its operations globally.

West Fraser (Canada) focuses on achieving a premium position in the market by strategic acquisitions of a number of sawmills and related timber harvesting rights as well as development of lumber businesses. For instance, in 2014, it acquired two sawmills in Arkansas (U.S.) and one in High Prairie, Alberta (U.S.). In 2012, the company acquired a sawmill at Edson, Alberta (U.S.). These acquisitions have supported the company’s strategic objective of generating profitable growth in the wooden decking market.

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Imerys Minerals (UK) and Keltech Energies (India) are the Key Players in the Perlite Market

The global perlite market size is estimated to grow from USD 1.4 billion in 2020 to USD 1.9 billion by 2025, at a CAGR of 6.3% during the forecast period. The market is projected to witness decent growth in the near future, owing to the wide application in various end use industries of perlite ranging from construction industry. Increasing demand from APAC will further drive the growth of the global perlite market.

Asia Pacific accounted for the largest share of the Perlite market in 2020. Factors such as the rapidly increasing consumption of perlite in the intimate apparels and sportswear industries in countries such as China, Japan, India, South korea, and Australia have led to an increased demand for Perlite in the Asia Pacific region.

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Imerys Minerals (UK), Keltech Energies (India), Dupré Minerals (England), Amol Dicalite (India), and other among others are the leading perlite manufacturers, globally. These companies adopted expansion, and merger & acquisition as their key growth strategies between 2017 and 2020 to earn a competitive advantage in the perlite market.

Imerys Minerals (UK) is the largest player in the market. In October 2020, IMCD US and IMERYS Minerals expanded their distribution agreement. IMCD will now represent IMERYS Performance Minerals as its preferred distributor across the U.S. and Canada.

In June 2020, IMERYS Performance Minerals acquires Cornerstone Industrial Minerals Corp. The acquisition was done to strengthen its offering in the agriculture and horticulture markets.

In December 2019, Keltech Energies expanded its existing & addition of new explosive products at Village Garamsur, Post Dudhala, Tahsil Katol, District Nagpur. The total cost of the project after expansion was Rs. 63.17 crores.

COVID-19 Impact on the Perlite Market

The global Perlite market includes major Tier I and II suppliers like as Imerys Minerals (UK), Keltech Energies Ltd. (India), Dupré Minerals (England), Amol Dicalite (India). These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, and the Rest of the World. COVID-19 has impacted their businesses as well.

These players have announced the suspension of production due to the lowered demand, supply chain bottlenecks, and to protect the safety of their employees in the US, France, Germany, Italy, and Spain during the COVID-19 pandemic. As a result, the demand for perlite is expected to decline in 2020. Manufacturers are likely to adjust production to prevent bottlenecks and plan production according to demand from tier 1 manufacturers.

Demand for lightweight building structure, drive the pre-engineered buildings market

The pre-engineered buildings market is projected to reach USD 25.0 billion by 2024, at a CAGR of 11.5% from 2019. Factors such as rapid industrialization, growth in the infrastructural investments, an increase in the use of steel in building & construction, and rising demand for sustainable buildings drive the pre-engineered buildings market.

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Growth in new types of non-residential construction, such as healthcare, education, recreational and social infrastructure, and retail is also fueling the demand for single-story pre-engineered buildings. Furthermore, the lower price of single-story buildings and the benefits of creating large open spaces which are efficient, has easy maintenance, and has architectural flexibility, support the demand for single-story pre-engineered buildings.

Recent Developments

In March 2019, Nucor Corporation has planned to expand its steel plate production capacity by building a steel plate mill in Brandenburg, KY, US. The company has planned an investment of USD 1.35 billion in the mill. This mill has a planned production capacity of 1.2 million tons of steel products per annum. This is expected to strengthen the company’s steel plate product portfolio, which is further expected to support its pre-engineered buildings production, as steel plates are used as a raw material to manufacture pre-engineered buildings.
In August 2017, Zamil Steel Pre-engineered Building Company signed a contract with Agility Kuwait to build four air-conditioned warehouses in Mina Abdullah, Kuwait. This contract was valued at USD 6.7 million. Under this contract, the company would provide 4,600 metric tons of pre-engineered steel buildings and over 100,000 square meters of sandwich panels.

Asia Pacific accounted for the largest share in 2018 and is also projected to record the highest growth rate during the forecast period. The key factors driving the growth of the Asia Pacific pre-engineered buildings market are the growth in the residential and non-residential construction industry, huge investments in the infrastructural sector, and rapid industrialization in the developing countries of Asia Pacific. Furthermore, various benefits of these buildings, including time & cost efficiency and reduced environmental impact, as compared to cast-in-situ construction, are fueling the demand for these buildings in the developing countries of Asia Pacific.

The key players operating in the pre-engineered buildings market include BlueScope Steel (Australia), NCI Building Systems (US), Nucor Corporation (US), Kirby Building Systems (Kuwait), Zamil Steel Holding Company (Saudi Arabia), ATCO (Canada), Lindab Group (Sweden), PEBS Pennar (India), PEB Steel Buildings (Vietnam), and Everest Industries (India). These players have adopted various growth strategies to expand their global presence and increase their market share.

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Shift in trends toward rental driving the Construction Equipment Rental Market

In today’s economy and considering the cyclical nature of the construction industry, the benefits of renting construction equipment are amplified. Many contractors, construction companies, and a wide variety of industries are more and more exploring rental options. As cited by Keith Homes, Vice President of operations at the equipment rental platform BigRentz, there has been a significant shift from purchasing new equipment to the rental model among the contractors and construction companies that use the site. Many economists and business leaders foresee economic recession to be on the horizon, which may further fuel the demand for equipment rental and push companies even further away from leasing and ownership. There are several costs associated with the purchase of new equipment, such as the cost of equipment ownership, the initial asset cost, and the tenure to pay off equipment financing, plus maintenance and repair costs. Construction companies are wary of such costs and, on top of this cost factor, the cyclical nature of the construction industry and economic fluctuations can make it difficult for organizations to fully utilize the equipment they have purchased and obtain the most value, especially when that equipment is idle during slow business conditions. In this case, rental is an attractive alternative, particularly as some companies brace for economic recession and the potential implication of operational slowdown.

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The construction equipment rental market reached a record revenue of USD 93 billion in 2018 and is projected to reach USD 122 billion by 2024, at a CAGR of 4.3%, in terms of value, between 2019 and 2024. This is attributed mainly to the increasing revenue of construction equipment rental providers driven by major infrastructure projects in emerging markets and boom in residential construction in the US and Europe. Sales of construction equipment witnessed substantial growth in 2018, reaching 1.13 million units.

Excavators segment to lead the construction equipment rental market

Based on product, the construction equipment rental market is categorized into excavators, backhoes, loaders, crawler dozers, cranes, concrete pumps, compactors, transit mixers, concrete mixers, and others (asphalt pavers, finishers, dump trucks, industrial trucks, etc.). Among these, the excavators segment accounted to the largest share of the market in 2018 due to an increase in miscellaneous activities for construction, repair, and maintenance around the globe, which is expected to drive the growth of the construction equipment rental market. Moreover, the cranes segment is projected to grow at the highest CAGR.

Based on region, the construction equipment rental market is categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Among these, North America accounted for the largest share of the market in 2018 and is expected to continue in the same trend during the forecast period due to increase in building & construction activities in the region, coupled with favorable policies which lead to the demand for construction equipment rental. The market in the Asia Pacific is projected to grow at the highest CAGR during the forecast period.

Key players in the construction equipment rental market, such as United Rentals Inc. (US), Ashtead Group Plc (UK), Loxam (Paris), Herc Holdings Inc. (US), Aktio Corporation (Japan), Nishio Rent All Co. Ltd. (Japan), and Kanamoto Co. Ltd. (Japan), among others, are considered for the study.

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Rainscreen Cladding Market worth $14.3 billion by 2024

The rainscreen cladding market is projected to grow from USD 10.1 billion in 2019 to USD 14.3 billion by 2024, at a CAGR of 7.1% from 2019 to 2024. Rainscreen cladding market is expected to grow in accordance with the growth of the construction industry across the globe. Factors such as increase in the residential and non-residential construction and innovation as well as remodeling activities, along with the demand for durability of rainscreen cladding with the ability to withstand various weathering actions and resist chemical attacks & deterioration are expected to support market growth.

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In terms of value and volume, the new construction segment is estimated to lead the rainscreen cladding market in 2019

The new construction segment held the largest market share among all the construction of rainscreen cladding as it is affordable and is installed in regions having extreme weather conditions. It is a traditional glue-down cladding material which inherits several properties such as durability, flexibility, ease installation, and budget-friendly. The demand for the new construction segment is driving due to its properties, making it a preferred constructional type of rainscreen cladding for the residential as well as commercial application. The renovation segment is considered suitable for almost all applications such as builder, multi-family, residential, and commercial.

In terms of volume, the non- residential segment leads the rainscreen cladding market in 2019

Rainscreen cladding enhance the aesthetic appeal of a building, along with properties such as durability, comfort, and protection from extreme weathering has also driven the residential sector. Also, the rise in housing renovation and maintenance will further drive the demand for rainscreen cladding in the residential sector. The use of rainscreen cladding in residential buildings enhances the aesthetic appeal and provides durability and comfort. Rainscreen cladding is a non-structural, aesthetic layer or thin panel applied on the outer skin of the building that protects everything inside it from the external weather elements.

Europe region is projected to account for the largest share in the rainscreen cladding market during the forecast period

The Europe region is expected to lead the rainscreen cladding market in terms of both value and volume, from 2019 to 2024. Factors such as the increasing number of new housing units and huge investments in the infrastructural sector is expected to drive the rainscreen cladding market growth in the European region. Also, countries such as UK, Germany, France, Russia are considered to be developed markets in the construction sector as compared to the emerging markets such as Italy due to the tremendous growth of the construction opportunities in these countries has also driven the demand for rainscreen cladding .

Kingspan Insulation (UK), Sika (Switzerland), Rockwool International A/S (Denmark), Everest Industries Limited (Denmark), and Sotech Architectural Facade (UK) are key players operating in the rainscreen cladding market. Expansions, acquisitions, partnerships, and new product developments are some of the significant strategies adopted by these key players to enhance their position in the rainscreen cladding market.

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Stringent government regulations for pipeline safety and security are driving the Pipeline Monitoring System Market

The pipeline monitoring system market size is estimated to grow from USD 4.6 billion in 2019 to USD 6.5 billion by 2024, at a compound annual growth rate (CAGR) of 7.1% from 2019 to 2024. The increase in demand of pipeline monitoring systems for crude & refined oil is driving the growth of the pipeline monitoring system market, which is expected to witness high growth as a result of the increasing number of oil & gas leakages in production, pipelines, and storage tanks due to natural disasters and high pressure; and the stringent government regulations for pipeline safety and security and expansion and upgradation of pipelines. The growing trend of the development of new devices and solutions to monitor pipeline performance, optimize resources, automate the functions, and safeguard the operations are witnessing the growth of the pipeline monitoring system market. The next-generation technologies, which are the future of the pipeline monitoring market, comprise integrated, multi-layered systems using disruptive technologies, Internet of Things (IoT), digital acoustic sensing, and connected pipelines.

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Ultrasonic technology sector to gain maximum traction

The ultrasonic technology segment is estimated to dominate the market in 2019; however, magnetic flux leakage technology is projected to be the fastest-growing technology in the next ten years. The growth in demand for ultrasonic technology in the pipeline monitoring system sector is on account of its preference by many oil & gas companies to detect small and large leakages. This technology is mostly used for leak detection in pipeline monitoring systems, as it provides early detection of deviating conditions, facilitating asset damage prevention, and reducing power consumption.

Leak detection is estimated to be the fastest-growing segment

On the basis of solution, the leak detection segment is projected to grow at the highest CAGR from 2019 to 2024. This can be attributed to the increasing focus on improving the control over pipeline infrastructures and improving productivity, which would enable the monitoring of the conditions of assets and raise the alarm in case of unauthorized events. Some of the major reasons for the growth of the leak detection solution market are the increasing investments from oil & gas companies in pipeline monitoring infrastructures and the need for safe transportation of the liquids.

The North American region accounts for the largest market share in the pipeline monitoring system market

North America contributes a major market share in the global pipeline monitoring system market. The North American market is projected to grow at the highest rate than the other region, as many new pipelines are under construction in this region. Asia Pacific is projected to register the highest growth after North America from 2019 to 2024, while Europe accounts for the second-largest market share in the market. Emerging economies such as India, China, and Japan are projected to grow at moderate CAGRs between 2019 and 2024.

Major players in the pipeline monitoring system market includes Siemens AG (Germany), Honeywell International Inc. (U.S.), BAE Systems (U.K), Perma Pipes(U.S), Transcanada ( Canada), PSI AG (Germany), Pure Technology (Canada), Orbcomm Inc. (U.S.), and Huawei (China).

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Market Leading Players – Fiber Cement Market

The global fiber cement market size is projected to grow from USD 16.4 billion in 2020 to USD 20.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 4.4% during the forecast year. The growth of this market is attributed to the increasing construction activities in the residential and non-residential sectors and government regulations pertaining to the use of asbestos.

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The APAC region is projected to lead the fiber cement market, in terms of both value and volume from 2020 to 2025. The countries in this region is expected to achieve high growth in the construction sector, and in turn, triggering a huge demand for fiber cement products. Growing construction sector, particularly in rapidly-growing countries such as China and India, huge foreign investments, and growing awareness about the ill-effects of using asbestos, drive the demand for fiber cement products.

The fiber cement market has been dominated by large players, such as the Etex Group NV (Belgium), James Hardie Industries PLC (Ireland), Evonik Industries AG (Germany), Toray Industries Inc (Japan), CSR Limited (Australia), and Nichiha Corporation (Japan). These players have adopted various growth strategies, such as acquisitions, investments, and expansions, to increase their market shares and enhance their product portfolios.

Acquisitions accounted for the largest share of all the strategic developments that took place in the fiber cement market between 2016 and 2020. Key players such as James Hardie (Ireland), Toray Corporation (Japan), and Etex Corporation (Belgium) adopted these strategies to strengthen their business portfolios and presence in the fiber cement industry.(US).

James Hardie’s strong global presence, coupled with the attractive portfolio of fiber cement, makes it a global player in the fiber cement market. Its expertise in fiber cement building materials, and significant investments in its plants and market development programs have contributed toward its significant position in the market. The adoption of strategic initiatives, e.g., acquisitions, has also contributed to the success of the company. For instance, the acquisition of Fermacell GmbH (Germany) enhanced its fiber cement business in the European market.

Etex Group is considered to be one of the most popular companies in building construction in Europe and other regions. The company focuses on the manufacturing process of building products and is a global leader in offering dry and lightweight construction solutions. It provides a wide range of construction solutions to the multi-residential, industrial, as well as commercial sectors, and has worldwide operations. It operates across 42 countries through more than 90 subsidiaries and 113 factories worldwide. The company has 21 factories in America, 76 in Europe, 10 factories in Africa, and six in Asia.

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Ceramic Tiles Market: Growth of the organized retail sector

The penetration of organized retailers increases the availability of different types of ceramic tiles, subsequently driving the growth potential of this market. The rapidly developing global retail industry is witnessing the entry of a large number of retail stores, which include hypermarkets, supermarkets, and specialty stores. Owing to hectic lifestyles and work schedules, convenience and comfort are increasingly becoming important to customers; hence, large organized retail stores focus on stocking more varieties and brands of ceramic tiles under one roof to offer more options to consumers. Dedicated retail stores for interior décor products are also making ceramic tiles available for the customers. With the increasing brand consciousness among consumers, the importance of organized retailers offering branded ceramic products and other home furnishing products has also increased. Organized retailing enables customers to gather information on various brands and compare the price, quality, and design of several products, after which they make a buying decision. Thus, the growth of the organized retailing sector is expected to have a positive impact on the ceramic tiles market in the next few years.

The ceramic tiles market is projected to grow from USD 207.7 billion in 2020 to USD 285.1 billion by 2025, at a CAGR of 6.5% during the forecast period. Growth in investments in the construction industry, coupled with a rise in the number of renovation & remodeling activities, further boost the growth of the market for ceramic tiles. The rise in demand from emerging economies and the growth of the organized retail sector create growth opportunities for the market.

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Recent Developments

In August 2020, SCG Cement-Building Materials Company Limited entered into a share purchase agreement to acquire all shares of Oitolabs Technologies Private Limited in India, to support SCG CBM’s digital technology and software development with the aim of delivering values to customers and enhancing growth opportunities.
In June 2020, RAK Ceramics and Azizi Developments entered into an agreement for the supply of floor and wall tiles, and kitchen and bathroom fittings for the MBR City waterfront project in Dubai, the UAE.

The Asia Pacific is the most attractive market for ceramic tiles due to the rapid socio-economic development in the region. The increasing number of new housing units and huge investments in the infrastructural sector are fueling the demand for ceramic tile materials in this region. The growth of the ceramic tiles market in the APAC region is also driven by increasing demand for ceramic tiles in countries, such as China, India, Thailand, Indonesia, and Vietnam, due to the significant growth in the construction opportunities in these countries.

Key players operating in the ceramic tiles market include Mohawk Industries (US), Siam Cement Group (Thailand), Grupo Lamosa (Mexico), RAK Ceramics (UAE), Kajaria Ceramics (India), Grupo Cedasa (Brazil), Ceramica Carmelo Fior (Brazil), Pamesa Ceramica (Spain), Grupo Fragnani (Brazil), and STN Ceramica (Spain). These players have adopted various growth strategies to expand their global presence and increase their market share.

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Driver of Marble Market- Easy and bulk availability of marble

Marble is a very common natural stone composed of calcite mineral. Marble quarries are widely available across the world. There are huge and high-quality quarries of marble in countries such as the US, Italy, Turkey, and Spain, which meet the global demand for good quality marble for residential, industrial, and commercial infrastructures. In each country, there are huge marble quarries that lead to easy availability and logistics of marble for further processing into the final product. Marble is extracted from open-pit mines that range from small to very large scale. Marble mining is a capital-intensive process, and due to the availability of a large number of quarries around the world, the cost of transportation and logistics are minimized.

In 2020, the marble market is estimated at USD 13 billion and is projected to reach USD 16 billion by 2025, at a CAGR of 3.6% from 2020 to 2025. Marble is metamorphosed limestone, which are composed of recrystallized carbonate minerals such as calcite or dolomite. Marble has physical properties such as strength, hardness, variation in color, texture, and pattern among others, which makes it highly suitable for luxurious and aesthetical application in construction industry. Hence, rising demand for infrastructure development in developing economies and growth of construction industry in Asia Pacific region is a major driving factor for the growth of the marble market.

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Building & construction segment accounts for the largest share of the marble market

Marble is widely used building & construction application in flooring, wall, roofing, columns, and exteriors. In addition, marble is among the leading natural stones preferred for construction of residential and commercial buildings. Construction is among the hard hit industries due to COVID-19 pandemic outbreak. However, the building & construction segment is expected to witness growth from second half of 2020 in commercial and residential applications such as hospitals and township apartments.

The European region is expected to lead the marble market during the forecast period. The growth can be attributed to the high demand for marble in countries such as the Italy, the UK, and Spain across the application areas such as building & construction, statues and monuments, and furniture. The region being the largest consumer of marble in the building & construction application area, offers high growth opportunities for marbles in residential and commercial infrastructure development. In addition, the region is the largest market for marbles in furniture application. Also, a large cluster of marble key manufacturers is headquartered in the region that operate in the market by adopting organic and inorganic strategies to stay competitive in the market.

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Perlite Market- Robust growth in the building & construction industry in developing countries

The Perlite market size is expected to grow at a CAGR of 7.0%, by value, during the forecast period. The market is estimated to be USD 1.6 billion in 2020 and is projected to reach USD 2.0 billion by 2025. Thedriving factor for the Perlite market is its growing demand from the construction industry.

It is expected that spending on capital projects and infrastructure will grow significantly over the next decade. China, India, and other countries in the Asia Pacific, along with South Africa and Brazil, are investing considerably in the building & construction industry. This investment is required for modernization and commercialization. Rapid urbanization in emerging markets such as India, Malaysia, Thailand, and Brazil are expected to boost the spending in vital infrastructure sectors such as power, construction, and transportation. Improving economic conditions in these emerging markets are projected to increase the use of perlite.

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Emerging economies have also been focusing on rapid industrialization over the last few decades. Countries such as India, Indonesia, South Africa, Brazil, and Argentina are transforming their economies from being agricultural-based to manufacturing and other industries. With the emergence of new industries, the need for industrial construction is also increasing; this is creating scope for perlite to be preferred over other aggregates.

Perlite is used as an aggregate in lightweight insulating concrete and plaster in masonry blocks as loose fill insulating material, as a cavity wall in residential homes, and also in specialty applications such as chimney fills, fireproofing sprays, acoustical sprays, and interstitial floors. Expanded perlite aggregate (EPA) is used as a heat & sound insulator since it is a lightweight material that ensures economic benefits in building & construction.

Imerys Minerals (UK), Keltech Energies (India), Dupré Minerals (England), Amol Dicalite (India), and other players are the leading perlite manufacturers globally.

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