Dry Construction Market Share to Reach US$ 212 Billion by 2033: Fact.MR Report

Rockville , Oct. 19, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global dry construction market is forecasted to rise at a CAGR of 5.2% to reach a value of US $212 Bn by late 2033.

Dry construction, also known as off-site construction, involves assembling building components in a controlled factory environment before transporting them to the construction site for installation. It offers several advantages over traditional methods. Firstly, it speeds up construction by reducing on-site work. This means projects are completed faster. Additionally, it causes less disruption and noise in the surrounding area. Quality control is improved because components are made in a controlled environment, leading to higher overall quality.

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The growth of the dry construction market is primarily driven by the increasing emphasis on sustainability in construction practices. This is due to the reduced environmental impact and waste associated with off-site fabrication. Additionally, the need for faster construction timelines and greater cost-efficiency are key factors shaping the market growth. However, in the dry construction industry, there's a strong attachment to traditional building methods, which can make it challenging to introduce dry construction techniques. Moreover, where pre-made parts are transported and assembled on-site, managing risks is crucial for project success and profitability. This includes preventing damage during transportation and ensuring precise assembly.

Key Takeaways:

• The market in China is expected to rise at a CAGR of 8.2% during the forecast period (2023 – 2033). It will likely reach a value of $41.3 Bn by the end of 2033.
• The United States market was valued at US $ 32.1 Bn in 2022 and key companies in the region are eyeing the US to enhance their profitability due to an increase in activities related to building renovation.
• In Germany, the market is likely to grow at a CAGR of 3.8%. This is because, in Germany, most consumers prefer construction practices that can be completed in a short duration.
  

Rise in sustainability, the need for faster construction timelines, and cost-efficiency with reduced on-site disruptions are a few key driving factors fueling the market growth - Says FACTMR Expert

Key Companies Profiled in This Report

• Armstrong World Industries, Inc.
• Etex SA
• CSR Ltd.
• Fletcher Building Limited
• PABCO Gypsum
• Knauf Gips KG
• Panel Rey
• Xella Group
• Saint-Gobain SA
• USG Boral

Market Competition

Within the fierce competition in this market, notable industry leaders are focusing on enhancing their supply chain management, upholding product quality standards, and enforcing rigorous quality control measures.

• In December 2020, Armstrong completed the acquisition of Arktura, LLC, a move expected to boost Armstrong's market position and expand its product offerings and capabilities.
  

Winning strategies

• Using advanced technologies like Building Information Modeling (BIM), automation, and digital fabrication is a smart strategy in the market. BIM creates a digital plan for seamless project coordination, saving time and costs.
• Companies should make a strong effort to use eco-friendly practices and materials. This means choosing sustainable materials like recycled steel and low-impact insulation. Dry construction methods naturally generate less waste, which is better for the environment.
• Listening to what customers have to say and understanding their needs is a smart strategy for success in the industry. It helps companies create products and services that directly meet what the market wants.
  

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Country-wise Insights:

Why are Businesses Looking to the US to Increase Profitability?

Dry construction is becoming more popular because there aren't enough raw materials available for wet construction.

In 2022, the US market was estimated to be worth $32.1 billion. Growing utilization of dry construction techniques is being attributed to a lack of supply of certain raw materials needed in wet construction. Also, the expansion of activities associated to building renovation is boosting player opportunities.

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About Fact.MR:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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