The American Institute of Architects published its latest consensus forecast for 2024 and 2025. Learn more about what the AIA and other forecasting resources are projecting for the construction market in the coming years.

Simpson Strong-Tie announced the promotion of Scott Lang to the newly created Vice President of Market Development for Residential Digital Solutions position. In his new role, Scott will help expand the company’s residential digital solutions, including developing innovative strategies that cater to customer needs and broaden market reach.

The Fenestration and Glazing Industry Alliance has released the FGIA 2024/2025 Study of the U.S. Market for Windows, Doors and Skylights. The bi-annual report delivers timely information on residential and non-residential market trends and product relationships for both residential and non-residential fenestration products.

The global drywall and insulation contractor market is expected to grow from $474.33 billion in 2022 to $529.04 billion in 2023 at a compound annual growth rate of 11.5 percent. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short-term.

The American Iron and Steel Institute presented two awards to recognize individuals who have made significant contributions to advancing the competitive use of steel in the marketplace — specifically in the construction market.

The industrial insulation market size is projected to reach $5 billion by 2027, at a CAGR of 5.4 percent from 2022. The power industry had the largest market share in 2021, followed by the oil & petrochemical segment during the forecast period.

The thermal insulation market is expected to grow from $53.39 billion in 2022 to $72.9 billion by 2028; it is expected to grow at a CAGR of 5.3 percent from 2022 to 2028.

The global building thermal insulation market will grow to $35.3 billion by 2027, a CAGR of 4.7 percent from $8 billion in 2022. The use of building thermal insulation has witnessed significant growth because of the increasing requirement for improved heating and cooling comfort and better fire resistance of building thermal insulation materials, such as glass wool, stone wool and plastic foams.

On Oct. 24, the experts at Zonda, the housing industry's foremost advisors, released the New Home Market Update report for September 2022. The housing market has entered a wait-and-see phase—consumers are trying to decide if it makes sense to buy today or wait.

Makita U.S.A., Inc. is continuing its commitment to future growth in the U.S. market with the purchase of 80 acres in  Georgia.