Economics by Tile International
Trends in world building
According to the study realized by Francesco Doria, head of Mapei Research Department (published in Realtà Mapei no. 140), in 2016 global construction investments reached a value of around 8 trillion euros, an increase of just over 2%. This means that the global construction market grew at a slower pace last year than the world economy, estimated by the International Monetary Fund to have expanded by 3.1%.
The region home to the world’s largest construction market is Far East & Oceania with estimated investments of 3,750 billion euros and a 47% share of global construction. It is followed by North America with a value of the construction market estimated at almost 1.6 trillion euros, 20% of the world total. Western Europe is the world’s third largest building market with an estimated value of 1,375 billion euros and a 17% share of global investments.
Far behind are all the other geographical areas. Latin America represents just 5% of total world construction output, followed by Eastern Europe (4.5%), Persian Gulf Countries (3.3%) and Africa and Other Middle Eastern Countries (3.2%).
- A detailed analysis of the trends in each area and the forecasts for the year 2017 are described in the article published in Ceramic World Review 121/2017