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Including residences in Bangkok And metropolitan area, commercial buildings in Bangkok And perimeter, industrial estates

The construction materials business is an important upstream industry in the construction and real estate sectors.

The construction materials industry will enjoy an improving outlook over 2023 to 2025 thanks to better conditions on both domestic and international markets. (i) Overall domestic expenditure on construction is forecast to expand by 3.0-3.5% annually, lifted by a combination of an acceleration in government investment on megaprojects connected to the Eastern Economic Corridor (EEC) (ii) With the COVID-19 pandemic now receding, regional economies are rebounding, and this will support increased spending on infrastructure and real estate projects

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Over the three years from 2021 to 2023, manufacturers and distributors of construction materials will see improving business conditions thanks to rising demand on both domestic and export markets. This outlook will be helped by two factors. (i) Overall expenditure on construction within Thailand is expected to grow by an annual average of 4.9-5.2%. This will come from stronger government spending on infrastructure megaprojects, especially in the Eastern Economic Corridor (EEC), and on expansions and upgrades to the national road and rail networks, as well as from a rebound in the economy that will then boost private-sector construction. (ii) As the COVID-19 crisis abates, regional economies (in particular in the CLV countries, the main export target for Thai players) will return to growth and this will then feed into greater activity in construction and real estate markets, while in addition, governments in the region are also spending more heavily on infrastructure.

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