Construction Materials Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Construction Materials Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Construction Materials Market

The construction materials market size was valued at USD 1,320.01 billion in 2023, and the market is now projected to grow from USD 1,369.86 billion in 2024 to USD 1,867.16 billion by 2032, exhibiting a CAGR of 3.9% during the forecast period of 2024-2032.

Construction operations, all over the world, suffered quite a lot because of the covid-19 pandemic. Due to the imposition of the lockdown by the governments, all construction activities were ceased hence huge economic losses were incurred by our country, building manufacturers, and contractors. Consequently, the majority of the construction workers migrated to different places and settled in other occupations rather than returning to continue where they left and as a result this caused wage rise in the urban areas. The ‘work-stoppage’ also pinned down an outcome on the company’s revenues, jobs, and interfering with project progress. A number of the industry which employed the largest numbers such as construction, infrastructure and real estate critically affected by restrictions that came with the lockdown. This hindered the construction materials market growth.

Governments in most countries are buying traffic systems to be smarter in managing with booming urbanization of cities and missing out on the opportunity of smart growth by sprawling in remote areas. This is to ensure that the cities monitor and integrate the infrastructure to control the resources optimally and to offer services such as the public services provision adequately. Smart city program is designed to encourage creation of sustainability and inclusiveness cities by providing essential infrastructure that facilitates orderly living and provides good quality of life and ecofriendly environment, among others, through smart and data-driven movements such as intelligent lighting system, traffic management system, etc. The proposal is to research on overcrowded locations and establish a model that could be easily replicated into guidance for other cities who have not achieved similar results. This drives the construction materials market share.

Smart construction materials synthesize and convert into different useful through environmental conditions. In the hands of 3D printing, a startup which may have been thought of impractical and costly in the past and hence was untapped might as well be turned into a successful business because those technologies have minimized waste. Yet 3D printing won't entirely rob builders of their jobs as rebar insertion will be necessary for the printed concrete. The nature of the construction material industry is evolving rapidly, with manufacturers adapting to the technologies which helps customers in the changing construction market. Additive manufacturing techniques and measuring tools like laser are the main tools of construction companies which change their traditional approaches into innovative ones. The evolving usefulness of sustainable products, for instance smart glass and composite shingles, gives the suppliers an option to offer their customers available material options easily.

Comprehensive Analysis of Construction Materials Market

The construction materials market and chemicals & advanced materials industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the chemicals & advanced materials industry. These segmentations are methodically segregated By Material Type Analysis and By End-user Analysis. The construction sector is divided into aggregates, cement, bricks and block, metal and the others on the basis of the material type. The aggregates sector recorded the most significant volume with 65% of the total production in 2023. With respect to end-user, into residential, commercial, infrastructure and industrial the market is classified. Propelled by the continued demand for housing and favorable government policy residential buildings are expected to be a strong rebound in 2023 with a very booming growth in the years to come.

Asia Pacific has occupied the top place in terms of market size for construction material and is envisaged to hold the leadership for a considerable time to come. Market development leads to the construction of the high infrastructural activities of this or that region that trigger different sectors in the area.

The top players in the market play a crucial role in the chemicals & advanced materials industry assuring industrial prospectus growth and setting market standards. These players include, China National Building Material Co., Ltd. (China), CRH PLC (Ireland), LafargeHolcim Ltd. (Switzerland), BBMG Corporation Ltd. (China), HeidelbergCement AG (Germany), CEMEX S.A.B. de C.V. (Mexico), Knauf Gips KG (Germany), Lixil Group Corporation (Japan), Anhui Conch Cement Co., Ltd. (China) and Boral Limited (Australia).

In January 2023, continuing its operation in France, the French leader self-leveling screeds company, Chrono Chape is now a part of the Holcim Group. This is because they are interconnected; one produces the other. Therefore, these undertakings make laying sa trap/bead simpler and are the smooth foundation upon which builders can lay the floor's finish such as tiling or carpets. This is demonstrated by its France-wide portfolio of ready-mix concrete that constitutes a strong knowledge alliance for innovativeness and efficiency.

Segmentation table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 3.9% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Material Type

Aggregates

Cement

Bricks and Blocks

Metals

Others

By End-user

Residential

Infrastructure

Commercial

Industrial

By Geography

North America (By Material Type, By End-user)

- U.S. (By End-user)

- Canada (By End-user)

Europe (By Material Type, By End-user)

- Germany (By End-user)

- U.K. (By End-user)

- France (By End-user)

- Italy (By End-user)

- Rest of Europe (By End-user)

Asia Pacific (By Material Type, By End-user)

- China (By End-user)

- Japan (By End-user)

- India (By End-user)

- South Korea (By End-user)

- ASEAN (By End-user)

- Rest of Asia Pacific (By End-user)

Latin America (By Material Type, By End-user)

- Mexico (By End-user)

- Brazil (By End-user)

- Rest of Latin America (By End-user)

Middle East & Africa (By Material Type, By End-user)

- GCC (By End-user)

- South Africa (By End-user)

- Rest of Middle East & Africa (By End-user)


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