Bangladesh has experienced rapid urban development for decades and the capital Dhaka has emerged as one of the fastest growing mega-cities in the world. Large-scale infrastructure development and urbanization have driven the growth and demand for building materials such as steel and cement products.
According to the report, the building materials industry in Bangladesh is expected to record a CAGR of 9.4% to reach RS. 2133.1 billion by 2024. In terms of value, the residential construction industry grew at a CAGR of 11.1% ‘between’ 2015-2019. In terms of prices, the commercial building construction market is expected to record a CAGR of 12.3% during the forecast period.
In the 1980s, moderate economic growth, significant project and commodity support, and significant remittance inflows from Bangladeshis working abroad led to steady expansion of construction activities in Bangladesh.
GDP from Construction in Bangladesh increased to 9582.40 BDT Million in 2021 from 8816.90 BDT Million in 2020.
This expansion of construction activities has significantly increased the demand for basic building materials such as cement, steel, sand, brick, wood, bamboo and CI sheets. A number of these materials are imported or produced locally on the basis of imported inputs. Other materials are produced in Bangladesh from local resources (brick, sand, aggregate, wood and bamboo). With these products, there is a tendency for short-term constraints on supply expansion. The brick industry in particular has proven to be surprisingly flexible in response to changing demand.
At the end of the supply chain, most cement manufacturers import clinker, gypsum, fly ash and iron slag from neighbouring countries such as China, Hong Kong, India, Indonesia, Thailand, Japan, Korea, Malaysia and the Philippines.
To ensure the quality of construction materials and other industrial products, there are national and international quality bodies, which are responsible for the production, quality control and testing standards of materials.
Building materials must be of good quality to ensure safe and sustainable building construction.
Best expo organizer Eco Expo, continuously working for this sector.
