Philippines Building System Component Market Report and Forecast 2025-2034

Philippines Building System Component Market Size

The Philippines building system component market is projected to grow at a CAGR of 7.2% between 2024 and 2032. The market is being driven by the robust growth of the Philippines construction sector.

Philippines Building System Component Market Outlook

• With the emergence of new ceiling formats, the demand for suspended ceiling and dry wall systems is expected to rise significantly.

• The anticipated growth of the construction sector is expected to lead to the market growth.

• Sustainability is expected to emerge as a key market driver of the forecast period.

Philippines Building System Component Market Growth

In 2023, the Philippines’ construction industry built over 150,000 new buildings, the total value of which reached PhP 457.36 billion. This is a 6% year-on-year increase from PhP 431.37 billion in 2022. The construction of non-residential buildings reached a value of PhP 219.56 billion and constituted a share of 48% of overall new constructions. This represents a year-on-year growth of 17.6% when it attained a value of PhP 186.68 billion. Commercial buildings dominated most of the new constructions and were valued at PhP 108.08.

Residential buildings constituted over 67% of the total number of new constructions in the Philippines (110,532). Most of them were single-type houses (95,061). The region of Calabarzon witnessed the greatest number of new constructions, while Central Visayas and Central Luzon followed closely behind.

Cost-effective building system components that are termite-proof, natural, lightweight, and reduce the risk of fire hazards in buildings are expected to witness a surge in sales over the forecast period.

Major real estate developers are focusing on sustainable and energy-efficient designs to enhance the consumer appeal for new infrastructure. The usage of recycled materials has increased substantially, and recycled steel has emerged as the ideal choice of raw material for making metal frames and decks.

Philippines Building System Component Industry Segmentation

Philippines Building System Component Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

• Light Metal Frame

• Steel Deck

• Suspended Ceiling and Dry Wall System

• C Purlins/z Purlins

• Ceiling Frames

• Studs and Tracks

• Decking for Flooring

Philippines Building System Component Market Share

Based on product type, the market is divided into light metal frame, steel deck, suspended ceiling and dry wall system, C purlins/Z purlins, ceiling frames, studs and tracks, and decking for flooring. Steel deck is projected to grow at a CAGR of 8.2% during the forecast period of 2024-2032. This is being aided by the growing construction of green buildings and the high strength-to-weight ratio offered by steel decks.

Leading Companies in the Philippines Building System Component Market

Major market players are expected to utilise smart building technologies like building management systems to automate building operations and switch towards the usage of renewable energy to power their activities.

• Power Steel Specialist Trading Corporation

• Knauf Group

• United Steel Technology International Corp.

• iSteel Inc.

• JEA Steel Industries, Inc.

• Others

Key Highlights of the Report