Guatemala Construction Materials Market Outlook
According to a new report by Expert Market Research titled “Guatemala Construction Materials Market Size, Share, Price, Report, Demand, Forecast 2023-2028″, the Guatemala construction materials market reached a value of USD 61.18 million in 2022. Aided by the accelerating demand for sustainable building solutions and the rising real estate investments in the country, the market is further expected to grow at a CAGR of 6.6% in the forecast period of 2023-2028.
Construction materials encompass a broad spectrum of substances, including cement, aggregates, bricks, steel, and various other materials used in the construction of structures. These materials play a crucial role in the structural integrity, aesthetic appeal, and overall durability of constructed buildings and infrastructures.
The Guatemala construction materials market growth can be predominantly attributed to the burgeoning construction industry in the country. Guatemala has been witnessing an upswing in both residential and commercial construction activities, as urbanisation and economic growth spur the need for new infrastructure and housing. This has led to a surge in the demand for diverse construction materials, propelling the market growth.
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Furthermore, the trend of sustainable construction and green buildings has significantly impacted the Guatemala construction materials market demand. Increasing awareness about environmental conservation and sustainability has encouraged the development and use of eco-friendly construction materials. These materials, which include recycled aggregates, green concrete, and bio-based materials, are less damaging to the environment and provide energy efficiency, driving their adoption in various construction projects.
In addition, the broad application of construction materials across various construction projects considerably contributes to the Guatemala construction materials market expansion. Construction materials are vital in the building of residential houses, commercial properties, and infrastructure projects, such as roads, bridges, and public utilities. As these projects continue to multiply in Guatemala, the demand for construction materials escalates correspondingly.
Moreover, technological advancements have had a transformative impact on the construction materials market. Innovative materials, such as self-healing concrete, aerogels, and translucent wood, offer enhanced properties and capabilities that improve the quality and efficiency of construction, fuelling their demand in the market.
Government policies and initiatives also play a significant role in shaping the market. Supportive regulations, tax benefits, and investment in public infrastructure projects by the Guatemalan government are major factors stimulating the construction industry and, in turn, the Guatemala construction materials market.
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Guatemala Construction Materials Market Segmentation
The market can be divided based on type and end use.
Market Breakup by Type
- Tiles Adhesives
- Concrete Admixtures
Market Breakup by End Use
- Medical and Healthcare
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Guatemala construction materials companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Euclid – Guatemala S.A.
- Sika Guatemala SA
- Protección Anticorrosiva de Cuautitlán, S.A. de C.V. (“PASA”)
- Henkel AG & Co. KGaA
- Mixto Listo
- Grupo Cemix
- Mapei S.p.A.
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