Market Forecast By Product type (Construction aggregates, Concrete bricks, Cement, Construction metals), By Application (Residential, Commercial, Industrial) And Competitive Landscape
Product Code: ETC016738 | Publication Date: Nov 2023 | Updated Date: Dec 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Turkey Construction Materials market currently, in 2023, has witnessed an HHI of 1188, Which has decreased slightly as compared to the HHI of 1946 in 2017. The market is moving towards highly competitive. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
Turkey Construction Materials Market report thoroughly covers the market by product type and application. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Turkey Construction Materials Market is currently witnessing unprecedented growth, with a massive infrastructure development project currently underway. Turkey is an emerging market in the construction materials industry. With a growing population, the demand for housing and infrastructure projects is high. The government's focus on enhancing transportation and logistics infrastructure has also attracted many foreign investors to the country. The market growth is projected to government investments in infrastructure & construction projects, rapid urbanization, and increasing income level.
According to 6Wresearch, the Turkey Construction Materials Market size is expected to grow at a CAGR of 6.5% during the forecast period 2025-2031. One significant driver of the Turkey construction materials market is the government's infrastructure projects, including the building of airports, highways, and bridges. Also, the country's urbanization rate is currently at 70%, and this trend is expected to increase in the next few years, fuelling the demand for new and modernized structures. Lastly, the country's improved economic stability has led to an increase in foreign and local investments in the construction sector. On the other hand, market has several challenges that are the high competition in the market leads to price wars, resulting in low profit margins for construction materials manufacturers and suppliers.
Additionally, some of the construction materials such as cement are imported, further affecting the market price. Furthermore, dependence on international suppliers makes Turkey construction materials industry susceptible to global market fluctuations and supply chain disruptions. Nevertheless, some ongoing trends are contributing to the market growth. One of the significant trends is eco-friendly and sustainable building materials have become trendy, and Turkey is not left behind. Construction stakeholders increasingly choose environmentally friendly materials such as bamboo flooring, recycled glass countertops, and cotton insulation over traditional building materials. Additionally, the use of technology in the construction sector has been on the rise, with the adoption of Building Information Modelling (BIM) and Virtual Reality (VR) technologies, among others.
The Turkish government has been implementing various policies & programmes to drive growth in the construction materials market. The establishment of the Turkish Construction Materials Promotion Group (TMGS), which is tasked with promoting the use of locally manufactured products in the industry. This group's major emphasize is to improve the competitiveness of local companies in the globally by conducting research, organizing international exhibitions, and marketing activities. Another government initiative is the Harmonized Availability of Building Products (HABRAS) project, which aims to upgrade the use of construction materials in Turkey. This estimated is aimed at improving material availability, decreasing costs, and making sure quality control. The HABRAS project is also expected to increase the opportunities for foreign investors to enter the market.
The construction materials market in Turkey is highly fragmented, and the industry has several key players. Some of the leading manufacturers and suppliers of construction materials include Akcansa, Cimsa Cement, AGT, and Celik Kapi. Additionally, Turkey has many local suppliers of building materials, such as Marmo Construction and Turkey Blocks, supplying steel, concrete, and wood products.
According to Nitesh, Research Manager, 6Wresearch, the growth in the industrial construction sector has resulted in an increase in demand for construction materials with a rising expansion of industries. This sector is also increasing Turkey Construction Materials Market share.
Based on the product type, it is difficult to determine which material is leading in the market, as all four construction materials - construction aggregates, concrete bricks, cement, and construction metals – are used during construction activities.
The report offers a comprehensive study of the subsequent market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Turkey Construction Materials Market Overview |
3.1 Turkey Country Macro Economic Indicators |
3.2 Turkey Construction Materials Market Revenues & Volume, 2021 & 2031F |
3.3 Turkey Construction Materials Market - Industry Life Cycle |
3.4 Turkey Construction Materials Market - Porter's Five Forces |
3.5 Turkey Construction Materials Market Revenues & Volume Share, By Product type 2024 & 2031F |
3.6 Turkey Construction Materials Market Revenues & Volume Share, By Application, 2024 & 2031F |
4 Turkey Construction Materials Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Turkey Construction Materials Market Trends |
6 Turkey Construction Materials Market, By Types |
6.1 Turkey Construction Materials Market, By Product type |
6.1.1 Overview and Analysis |
6.1.2 Turkey Construction Materials Market Revenues & Volume, By Product type 2021 - 2031F |
6.1.3 Turkey Construction Materials Market Revenues & Volume, By Construction aggregates, 2021 - 2031F |
6.1.4 Turkey Construction Materials Market Revenues & Volume, By Concrete bricks, 2021 - 2031F |
6.1.5 Turkey Construction Materials Market Revenues & Volume, By Cement, 2021 - 2031F |
6.1.6 Turkey Construction Materials Market Revenues & Volume, By Construction metals, 2021 - 2031F |
6.2 Turkey Construction Materials Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 Turkey Construction Materials Market Revenues & Volume, By Residential, 2021 - 2031F |
6.2.3 Turkey Construction Materials Market Revenues & Volume, By Commercial, 2021 - 2031F |
6.2.4 Turkey Construction Materials Market Revenues & Volume, By Industrial, 2021 - 2031F |
7 Turkey Construction Materials Market Import-Export Trade Statistics |
7.1 Turkey Construction Materials Market Export to Major Countries |
7.2 Turkey Construction Materials Market Imports from Major Countries |
8 Turkey Construction Materials Market Key Performance Indicators |
9 Turkey Construction Materials Market - Opportunity Assessment |
9.1 Turkey Construction Materials Market Opportunity Assessment, By Product type 2024 & 2031F |
9.2 Turkey Construction Materials Market Opportunity Assessment, By Application, 2024 & 2031F |
10 Turkey Construction Materials Market - Competitive Landscape |
10.1 Turkey Construction Materials Market Revenue Share, By Companies, 2024 |
10.2 Turkey Construction Materials Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |
Market Forecast By Product type (Construction aggregates, Concrete bricks, Cement, Construction metals), By Application (Residential, Commercial, Industrial) And Competitive Landscape
Product Code: ETC016738 | Publication Date: Oct 2020 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
Turkey Construction Materials Market is projected to grow over the coming years. Turkey Construction Materials Market report is a part of our periodical regional publication Middle East Construction Materials Market outlook report. 6W tracks Construction Materials market for over 60 countries with individual country-wise market opportunity assessment and publishes with the report titled Global Construction Materials Market outlook report annually.
Turkey Construction Materials Market report thoroughly covers market by Product Type and Application. The market report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Turkey Construction Materials Market Synopsis
Turkey Construction Materials Market is anticipated to gain momentum during the upcoming years on the back of surging disposable income. Substantial increase in the number of buildings owing to increasing urbanization is driving the Turkey Construction Materials Market Growth. Additionally, increasing efforts of the government backed by strengthening of construction sector is adding to the demand for Construction Materials.
According to 6Wresearch, Turkey Construction Materials Market size is projected to register growth during 2020-2026. The substantial increase in the number of commercial offices, buildings, restaurants and hotels. The surging population in the country coupled with expansion of residential sector is driving the establishment of high-rise buildings further adds to the growth of Tukey Construction Materials Industry. However, the outburst of coronavirus pandemic hampered the growth of the market owing to nationwide lockdown. Nationwide restrictions disrupted the supply chain of construction materials further declined the Turkey Construction Materials Market Share.
Market Analysis by Application
On the Basis of application, the residential sector accounted significant share and is anticipated to dominate the market during the upcoming years on the back of rising infrastructure development projects in residential areas.
Key Attractiveness of the Report
Key Highlights of the Report:
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments: