Peru Construction Materials Market Size To Grow At A CAGR Of 4.3% In The Forecast Period Of 2023-2028
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- Olivia Grande
- February 9, 2023
The ‘Peru Construction Materials Market Trends, Share, Price, Size, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the Peru construction materials market, assessing the market on the basis of its segments like type and end use.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Peru Construction Materials Market Size, Share, Price, Trends, Growth, Key Players, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 166.64 million
• Forecast CAGR (2023-2028): 4.3%
• Forecast Market Size (2028): USD 214.08 million
Construction materials are key components used to create tall buildings and infrastructure for various end uses, ranging from residential and commercial to industrial and healthcare. The Peru construction materials market is being positively impacted by the considerable infrastructure development in the country.
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The need for construction materials is anticipated to rise substantially in Peru as the industrial sector expands. A robust pipeline of mining projects is causing an increase in mining, manufacturing, and export operations, which will lead to a surge in construction. Peru is also investing in infrastructure for the energy and utility sectors, including water, electricity, and telecommunication.
The government’s efforts to rebuild homes, roads, and other infrastructure in Peru’s flood-affected areas are anticipated to aid in the expansion of the Peru construction materials market. Due to the expansion of social housing programmes backed by the Peruvian government, the residential sector holds a significant portion of the market for construction materials in Peru by end use. A growing number of projects under public-private partnerships in housing and bioclimatic dwellings will further spur the Peru construction materials market expansion.
Peru Construction Materials Industry Definition and Major Segments
Construction materials includes wood, metals, cement, bricks, clay, concrete, and other materials that are used in the construction of buildings or structures. Modern construction materials include a wide range of substances including waterproofing materials, building chemicals, and durability aids, among others. They are crucial in the development of strong, long-lasting, and safe-to-use structures and other building and component parts.
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Based on type, the market is segmented into:
• Tiles Adhesives
• Concrete Admixture
On the basis of end-use, the market is divided into:
• Medical and Healthcare
Peru Construction Materials Market Trends
As more businesses and the government invest in safeguarding buildings and structures from water damage, waterproofing is gaining a sizable market share in the Peru construction materials market. The need for waterproofing has increased as a result of Peru’s humid climate and high annual rainfall.
With an increase in construction activities and renovations of older buildings, concrete and concrete admixtures are being added to existing structural elements, which has led to a significant growth in the market for construction materials in Peru. Concrete admixtures are substances added during the mixing process of concrete to enhance the qualities of hardened or fresh concrete. A significant factor influencing the rise in demand for concrete admixture in Peru is self-construction. Many people in the nation continue to use traditional building techniques and ‘noble materials’, which can include concrete, among others.
The Peruvian construction materials market’s commercial end use sector is anticipated to expand during the forecast period. This is a result of expenditures made to support the country’s tourism industry by improving the infrastructure to accommodate both domestic and foreign visitors. Government investments targeted at enhancing Peru’s healthcare capabilities are also fuelling improvements in the country’s medical and healthcare infrastructure.
Key Market Players
The major players in the Peru construction materials market report are:
• Sika AG
• Bostik, Inc
• W. R. Meadows, Inc.
• MAPEI Corporation
• CEMEX S.A.B. de C.V.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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