The global construction market is forecasted by GlobalData to grow by 1.8% in real terms in 2024, having grown by 1.7% in 2023. While the residential construction market in many countries will decline, this will be offset by high growth in the infrastructure sector, with output rising by 8.3% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Driving growth in the market in 2022 and over the remainder of the decade are a potential 135 mega hydroelectric projects, costing over $100m each. Here are the largest chemical and pharmaceutical construction projects initiated globally in Q4 2024, according to GlobalData’s construction projects database.
Smarter leaders trust GlobalData
1. Shuangyashan Green Methanol and Green Aviation Fuel Demonstration Base
The project involves the construction of a green methanol and green aviation fuel demonstration base with an annual production of 200,000 tons of green methanol and 300,000 tons of green aviation fuel in Shuangyashan, Heilongjiang, China.
Construction work started in Q4 2024 and is expected to be completed in Q4 2028.
2. Piaui Green Hydrogen Plant
The project involves the construction of a green hydrogen production plant in Piaui, Brazil.
Construction work commenced in Q4 2024 and is expected to finish in Q4 2028.
The project aims to create a new model of sustainable energy for the world’s fast-growing population while reducing dependency and cutting end-user costs on high carbon-emitting fuel sources.
3. Pfaffenhofen an der Ilm Pharmaceutical Plant
The project involves the construction of a new building for Antibody-Drug Conjugate (ADC) in Pfaffenhofen an der Ilm, Bavaria, Germany.
Construction work started in Q4 2024 and is forecast to complete in Q4 2030.
4. Baicheng Green Hydrogen Ammonia Alcohol Integrated Facility
The project involves the construction of a green hydrogen ammonia integrated demonstration plant with an annual output of 300,000 tons of green methanol in Tongyu County, Baicheng, China.
Construction work commenced in Q4 2024 and is expected to be completed in Q3 2027.
5. Shijiazhuang Vaccine Production Base
The project involves the construction of a vaccine production base on a 11.80ha site area in Shijiazhuang, Hebei, China.
Construction work started in Q4 2024 and is expected to be completed in Q4 2026.
For more details on the latest construction projects, buy the profiles here.
Data Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
