The construction materials market was valued at $1.2 trillion in 2022, and is projected to reach $1.7 trillion by 2032, growing at a CAGR of 3.8% from 2023 to 2032.
Construction materials are the substances used for the building of an infrastructure. The buildings are made from a broad range of naturally occurring materials, such as wood, pebbles, clays, sand, roots and leaves. Bricks, cement, corroding additives, concrete, timber, ceramic, steel, recycled materials, polymers, glass fibers, rammed earth, bamboo, bituminous material and advanced building materials are among the major raw materials used for construction.
The demand for affordable housing is expected to propel market growth during the forecast period. In many regions, there is a shortage of housing units, leading to increased construction activity and construction materials demand. Besides, as economies grow, the demand for commercial spaces such as offices, shopping malls, and entertainment complexes increases, leading to higher consumption of construction materials. Also, the development of smart cities and intelligent infrastructure necessitates the integration of advanced materials for energy-efficient buildings, data communication, and sensors.
In addition, the growth of industries such as manufacturing, logistics, and warehousing requires construction of new industrial facilities, driving the demand for construction materials. However, the cost fluctuation associated with construction materials is expected to act as a major restraint for market growth. Nevertheless, growing demand for green construction materials is expected to offer lucrative market growth opportunities in coming years.
The construction materials market is segmented on the basis of material type, end-use, and region. By material type, the market is categorized into aggregates, cement, bricks and blocks, metals, and others. By end-use, the construction materials market is classified into residential, commercial, and industrial. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players in the construction materials industry include Ambuja Cements Ltd; ArcelorMittal; Grasim Industries Limited; LIXIL Corporation; Sika AG; CRH; Knauf Digital GmbH; CEMEX, S.A.B. de C.V.; Holcim; and Boral.
Construction materials are the substances used for the building of an infrastructure. The buildings are made from a broad range of naturally occurring materials, such as wood, pebbles, clays, sand, roots and leaves. Bricks, cement, corroding additives, concrete, timber, ceramic, steel, recycled materials, polymers, glass fibers, rammed earth, bamboo, bituminous material and advanced building materials are among the major raw materials used for construction.
The demand for affordable housing is expected to propel market growth during the forecast period. In many regions, there is a shortage of housing units, leading to increased construction activity and construction materials demand. Besides, as economies grow, the demand for commercial spaces such as offices, shopping malls, and entertainment complexes increases, leading to higher consumption of construction materials. Also, the development of smart cities and intelligent infrastructure necessitates the integration of advanced materials for energy-efficient buildings, data communication, and sensors.
In addition, the growth of industries such as manufacturing, logistics, and warehousing requires construction of new industrial facilities, driving the demand for construction materials. However, the cost fluctuation associated with construction materials is expected to act as a major restraint for market growth. Nevertheless, growing demand for green construction materials is expected to offer lucrative market growth opportunities in coming years.
The construction materials market is segmented on the basis of material type, end-use, and region. By material type, the market is categorized into aggregates, cement, bricks and blocks, metals, and others. By end-use, the construction materials market is classified into residential, commercial, and industrial. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players in the construction materials industry include Ambuja Cements Ltd; ArcelorMittal; Grasim Industries Limited; LIXIL Corporation; Sika AG; CRH; Knauf Digital GmbH; CEMEX, S.A.B. de C.V.; Holcim; and Boral.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the construction materials market analysis from 2022 to 2032 to identify the prevailing construction materials market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the construction materials market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global construction materials market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Material Type
- Aggregates
- Cement
- Bricks and Blocks
- Metals
- Others
By End-use
- Residential
- Commercial
- Industrial
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- UK
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- ArcelorMittal
- Grasim Industries Limited
- Sika AG
- Boral
- Knauf Digital GmbH
- Ambuja Cements Ltd
- LIXIL Corporation
- CRH
- Holcim
- CEMEX, S.A.B. de C.V.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CONSTRUCTION MATERIALS MARKET, BY MATERIAL TYPE
CHAPTER 5: CONSTRUCTION MATERIALS MARKET, BY END-USE
CHAPTER 6: CONSTRUCTION MATERIALS MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the construction materials market was valued at $1.2 trillion in 2022, and is projected to reach $1.7 trillion by 2032, growing at a CAGR of 3.8% from 2023 to 2032.Construction materials are essential elements used in the building and infrastructure industry to create structures such as buildings, bridges, roads, and more. These materials are chosen based on their properties, durability, cost-effectiveness, and suitability for specific applications. In the industrial sector, construction materials play a crucial role in creating facilities that are durable, efficient, and optimized for specific industrial processes. Industrial buildings need to withstand heavy loads, harsh environments, and specialized equipment. Steel frames provide strength and support for heavy equipment and machinery in manufacturing plants. Also, steel structures are commonly used for warehouses and storage facilities due to their open spans and durability.
Infrastructure development is a major driving force behind the demand for construction materials. As countries and regions invest in improving their physical and social infrastructure, various construction materials are essential to support these projects. New road construction and maintenance projects require materials such as asphalt for road surfaces, aggregates for base layers, and concrete for bridges and overpasses. Also, infrastructure projects involving bridges, tunnels, and flyovers rely heavily on steel and concrete, which provide the necessary strength and durability for these structures. In addition, building or expanding public transportation systems, such as metro systems, light rail, and bus rapid transit, requires construction materials for stations, tracks, platforms, and facilities.
Moreover, the construction and expansion of airports and seaports require a variety of materials, including concrete, steel, and specialized paving materials for runways and terminals. Besides, developing water supply systems, sewage treatment plants, and water distribution networks demands construction materials for pipes, tanks, treatment facilities, and distribution infrastructure. Building power plants, substations, transmission lines, and renewable energy installations involves materials such as steel, concrete, and insulation materials.
The rollout of telecommunications infrastructure, including cell towers and fiber-optic networks, requires construction materials for their installation and support. Infrastructure projects related to smart cities often involve integrating sensors, data communication networks, and advanced materials to enable smart functionality. Besides, projects related to waste management, recycling facilities, and water conservation systems require construction materials for their implementation.
Moreover, infrastructure development encompasses public facilities such as schools, hospitals, community centers, and government buildings. These structures require a range of construction materials for their construction and finishing. Thus, infrastructure development has a significant impact on the construction materials industry. However, cost fluctuations are a significant restraint in the construction materials market, impacting both construction companies and project owners. These fluctuations can lead to uncertainty, budget overruns, and challenges in planning and executing construction projects. Several factors contribute to cost fluctuations in the construction materials market such as supply and demand dynamics, commodity market volatility, raw material costs, transportation costs, and labor costs.
Besides, the cost of raw materials used in manufacturing construction materials, such as steel, cement, and aggregates, can experience price volatility due to factors such as mining restrictions, energy prices, and global demand. Also, fuel prices and transportation disruptions can impact the cost of transporting construction materials to project sites, leading to increased overall costs. Nevertheless, growing demand for green construction materials is expected to offer lucrative market growth opportunities in coming years.
The construction materials market is segmented on the basis of material type, end-use, and region. By material type, the market is categorized into aggregates, cement, bricks and blocks, metals, and others. Cement is the fastest growing segment. Cement is a fundamental material used in the production of concrete, which is widely used in building foundations, structures, roads, and more. Governments and private entities invest in the construction of roads, bridges, airports, ports, utilities, and other infrastructure projects, which significantly drive cement demand. Furthermore, rapid urbanization leads to the construction of residential, commercial, and industrial buildings, increasing the need for cement in construction projects. Besides, the construction of new housing, office spaces, retail outlets, and other real estate projects fuels cement demand.
In addition, the establishment of factories, manufacturing plants, warehouses, and other industrial facilities requires substantial quantities of cement. By end-use, the construction materials market is classified into residential, commercial, and industrial. Commercial is the fastest growing segment. In the commercial construction sector, a wide range of construction materials is used to create various types of commercial buildings such as offices, retail spaces, hospitality venues, industrial facilities, and more. These materials are chosen based on factors such as functionality, aesthetics, durability, and specific requirements of the commercial space. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players in the construction materials industry include Ambuja Cements Ltd; ArcelorMittal; Grasim Industries Limited; LIXIL Corporation; Sika AG; CRH; Knauf Digital GmbH; CEMEX, S. A.B. de C. V.; Holcim; and Boral.
Key Market Insights:
On the basis of material type, the cement segment is the fastest growing segment.Based on end-use, the residential segment was the highest revenue contributor to the market in 2022.
Region wise, Asia-Pacific is the fastest growing region with a CAGR of 4.0%.
Companies Mentioned
- ArcelorMittal
- Grasim Industries Limited
- Sika AG
- Boral
- Knauf Digital GmbH
- Ambuja Cements Ltd
- LIXIL Corporation
- CRH
- Holcim
- CEMEX, S.A.B. de C.V.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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