Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Building Finishing Contractors Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global building finishing contractors market is currently witnessing a significant upsurge, with a projected growth from $1,394.81 billion in 2023 to an impressive $1,487.57 billion in 2024, marking a robust compound annual growth rate (CAGR) of 6.7%. This notable expansion can be credited to the broad-reaching developments across the construction industry, urbanization advancements, and a push towards innovative architectural designs and building renovations.
Market Dynamism Fueled by Sustainable Practices and Technological Innovations
As the market horizon extends to 2028, forecasts predict further growth reaching a staggering $1,971.51 billion at an augmented CAGR of 7.3%. The surging trajectory is supported by the industry's embrace of sustainability and environmentally conscious building strategies, the integration of smart building technology, adherence to rigorous health and safety standards, and the rising need for infrastructure capable of supporting global population growth and housing demands.
The advent of predictive analytics has revolutionized the market, offering profound insights that aid in risk management and optimized budgeting for building finishing contractors. Utilizing advanced software tools, these professionals can proactively mitigate construction-related risks and streamline operations.
Leading the Way: Asia-Pacific and Western Europe Dominate the Market
In a comprehensive geographic analysis, Asia-Pacific has emerged as the foremost leader in the building finishing contractors market as of 2023, with Western Europe trailing closely behind. These regions are at the forefront of pioneering trends, pushing the envelope in building standards and innovative practices within the industry.
Market Segmentation: A Diverse Range of Services
The market is composed of various key segments, including drywall and insulation contractors, painting and wall-covering contractors, flooring contractors, tile and terrazzo contractors, finish carpentry contractors, and other building finishing professionals. These specialists are not only integral to the completion of residential and non-residential structures but also utility system construction and additional applications.
Industry Leaders Invest in Digital Innovation for Competitive Advantage
Notable players in the market are pioneering digital solutions, like the Building Material Platform app, optimizing procurement, and enhancing efficiency. Such advancements are crucial in maintaining a competitive edge and responding to the evolving building materials landscape.
Demographic Shifts Shape Market Demand: Catering to the Elderly Population
Additionally, the increasing elderly population is significantly influencing market dynamics, giving rise to a need for contractor services adept at adjusting residential and public spaces to be more inclusive and safe for this demographic.
- Drywall and Insulation Contractors: Experts in construction covering and temperature insulation.
- Painting and Wall-covering Contractors: Specialists in enhancing the aesthetic appeal of interior and exterior walls.
- Flooring Contractors: Professionals dedicated to the installation of various floor types.
- Tile and Terrazzo Contractors: Craftsmen who provide bespoke tiling and ornamental terrazzo finishes.
- Finish Carpentry Contractors: Skilled workers focused on detailed woodwork finishing.
- Other Building Finishing Contractors: A diverse group of experts offering a myriad of finishing services.
A selection of companies mentioned in this report includes
- Fletcher Building Ltd.
- NCI Building Systems Inc
- Interserve Plc
- APi Group Inc
- Performance Contracting Group Inc
- Cleveland Construction Inc
- Irex Corp of Lancaster
- Sherwin-Williams Company
- Pittsburgh Plate Glass Industries, Inc
- RPM International Inc.
- The Valspar Corporation
- Benjamin Moore & Co.
- Behr Process Corporation
- Rust-Oleum Corporation
- Akzo Nobel N.V.
- Axalta Coating Systems Ltd.
- Badische Anilin und Soda-Fabrik SE
- The Dow Chemical Company
- DuPont de Nemours, Inc.
- Eastman Chemical Company
- 3M Company
- Avery Dennison Corporation
- Bostik SA
- Data Acquisition and Processing Products Inc.
- Franklin International Inc.
- H.B. Fuller Company
- Henkel AG & Co. KGaA
- Illinois Tool Works Inc.
- ITW Performance Polymers & Fluids
- Kansai Paint Co. Ltd.
- Nippon Paint Holdings Co. Ltd.
- Pidilite Industries Ltd.
- Sika AG
- United States Gypsum Corporation
- Armstrong World Industries Inc.
- CertainTeed Corporation
- Georgia-Pacific LLC
For more information about this report visit https://www.researchandmarkets.com/r/2pzo3i
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
