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 Q3 2024, according to GlobalData’s construction projects database.
Smarter leaders trust GlobalData
1. Dalian Hydrogen-Based Energy Center
The project involves the construction of a hydrogen-based energy center in Changxiang Island, Dalian, China.
Construction work started in Q3 2024 and is expected to be completed in Q4 2027.
2. Songdo Biologic Therapeutics Production Plants
The project involves the construction of 202,285.20m2 three production plants with a production capacity of 120,000 liters of biologic therapeutics each in Songdo, Incheon, South Korea.
Construction work commenced in Q3 2024 and is expected to finish in Q1 2027.
The project aims to meet the global biotech companies’ demand for biomedical products.
3. Siziwang Banner Wind-Solar-Hydrogen-Ammonia Integrated Facility
The project involves the construction of a wind-solar-hydrogen-ammonia integrated facilities in Siziwang Banner, Ulanqab, Inner Mongolia, China.
Construction work started in Q3 2024 and is forecast to complete in Q4 2027.
4. Guben Battery-Grade Lithium Hydroxide Production Plant
The project involves the construction of a production facilities on a 12.5ha area in Guben, Brandenburg, Germany.
Construction work commenced in Q3 2024 and is expected to be completed in Q1 2026.
The project aims to produce battery-grade lithium hydroxide, a key component of electric car batteries. Buy the profile here.
5. Urumqi International Industrial Park
The project involves the construction of an international industrial park on a 26.66ha site area with a 300,000m2 gross floor area (GFA) in Xinshi District, Urumqi, Xinjiang, China.
Construction work started in Q3 2024 and is expected to be completed in Q4 2032.
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.
