by The global building materials market size was exhibited at USD 1,296.79 billion in 2023 and is predicted to reach around USD 1,829.78 billion by 2032, at a CAGR of 3.90% from 2023 to 2032.
Key Takeaways
- Asia-Pacific contributed more than 38% of revenue share in 2022.
- North America is estimated to expand the fastest CAGR between 2023 and 2032.
- By type, the cement segment held the largest market share of 31% in 2022.
- By type, the concrete bricks segment is anticipated to grow at a remarkable CAGR of 4.7% between 2023 and 2032.
- By end-user, the residential segment generated over 30% of revenue share in 2022.
- By end-user, the industrial segment is expected to expand at the fastest CAGR over the projected period.
The global building materials market plays a pivotal role in shaping the construction industry, providing the essential components needed for infrastructure development and real estate projects. This market encompasses a wide array of products, including cement, steel, concrete, wood, and other materials vital for constructing residential, commercial, and industrial structures. The demand for building materials is intricately linked to the growth of the construction sector, making it a key indicator of economic development.
Get a Sample: https://www.precedenceresearch.com/sample/3657
Growth Factors
Several factors contribute to the growth of the building materials market. Population growth, urbanization trends, and increasing disposable income drive the demand for new construction and renovation projects. Technological advancements in materials manufacturing also play a significant role, enhancing the quality, durability, and sustainability of building materials. Moreover, government initiatives promoting infrastructure development and sustainable construction practices contribute to the overall expansion of the market.
Building Materials Market Scope
| Report Coverage | Details |
| Market Size in 2023 | USD 1,296.79 Billion |
| Market Size by 2032 | USD 1,829.78 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 3.90% |
| Largest Market | Asia Pacific |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | By Type and By End-User |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Read More: eCTOL Aircraft Market Size To Hit USD 59.09 Billion By 2032
Building Materials Market Dynamics
Drivers:
Key drivers influencing the building materials market include a surge in construction activities, both in residential and commercial sectors. The rise in global urbanization rates, particularly in emerging economies, fuels the demand for construction materials. Additionally, the growing emphasis on eco-friendly and energy-efficient building solutions propels the adoption of innovative materials. Regulatory frameworks promoting safety standards and environmental consciousness act as further drivers, influencing the market positively.
Opportunities:
The building materials market presents opportunities for innovation and diversification. Companies can explore sustainable materials, such as recycled or environmentally friendly options, to meet the increasing demand for green construction practices. Furthermore, expanding into emerging markets with burgeoning construction needs offers significant growth prospects. Collaboration with technology providers to develop smart building materials also presents an avenue for companies to stay competitive in an evolving market.
Challenges:
Despite its growth potential, the building materials market faces challenges. Fluctuations in raw material prices, regulatory complexities, and the need for substantial initial investments in manufacturing facilities pose obstacles. The industry also grapples with the environmental impact of certain traditional building materials, prompting the need for sustainable alternatives. Global economic uncertainties and geopolitical issues may add further challenges, affecting the market’s stability.
Regional Insights:
The building materials market exhibits regional variations influenced by economic development, construction activities, and regulatory landscapes. In rapidly urbanizing regions, such as Asia-Pacific, there is a heightened demand for construction materials due to extensive infrastructure projects. In developed economies, like North America and Europe, the focus is on sustainable and energy-efficient materials. The Middle East and Africa experience growth driven by major infrastructure initiatives. Understanding these regional dynamics is crucial for companies seeking to navigate the diverse landscape of the global building materials market.
Recent Developments
- In January 2023, Holcim, a global player in the construction industry, successfully acquired Chrono Chape, a leading provider of on-site self-leveling screeds in France. These specialized screeds provide a smooth foundation for flooring finishes like tiles or carpets. Holcim’s extensive ready-mix concrete presence across France synergizes innovation and efficiency within the construction sector.
- In June 2022, CRH plc, a prominent building materials manufacturer, announced the acquisition of Barrette Outdoor Living, Inc. for USD 1.9 billion. This strategic move aims to enhance shareholder value through effective capital allocation within the residential fencing and railing solutions sector in North America.
- In May 2022, CEMEX, S.A.B. de C.V. and its partners introduced the Carbon Neutral Alliance, comprising 20 public and private entities. This initiative focuses on developing advanced technologies to achieve carbon neutrality at CEMEX’s Rudersdorf cement plant by 2030, reinforcing the commitment to renewable energy generation.
- In March 2022, the EU Horizon program awarded funding to Calix and Heidelberg Cement for their LEILAC-2 carbon capture project. This venture targets the separation of 20% of CO2 emissions from the Hanover cement plant, a significant step toward sustainable and environmentally friendly cement production.
Building Materials Market Companies
- LafargeHolcim
- Saint-Gobain
- CRH plc
- HeidelbergCement
- CEMEX
- China National Building Material (CNBM)
- USG Corporation
- Nippon Steel Corporation
- Boral Limited
- Vulcan Materials Company
- Martin Marietta Materials, Inc.
- Owens Corning
- Compagnie de Saint-Gobain
- Sherwin-Williams
- James Hardie Industries plc
Segments Covered in the Report
By Type
- Construction Aggregates
- Cement
- Concrete Bricks
- Metals
- Others
By End-User
- Residential
- Commercial
- Industrial
- Infrastructural
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Building Materials Market
5.1. COVID-19 Landscape: Building Materials Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Building Materials Market, By Type
8.1. Building Materials Market Revenue and Volume, by Type, 2023-2032
8.1.1. Construction Aggregates
8.1.1.1. Market Revenue and Volume Forecast (2020-2032)
8.1.2. Cement
8.1.2.1. Market Revenue and Volume Forecast (2020-2032)
8.1.3. Concrete Bricks
8.1.3.1. Market Revenue and Volume Forecast (2020-2032)
8.1.4. Metals
8.1.4.1. Market Revenue and Volume Forecast (2020-2032)
8.1.5. Others
8.1.5.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 9. Global Building Materials Market, By End-User
9.1. Building Materials Market Revenue and Volume, by End-User, 2023-2032
9.1.1. Residential
9.1.1.1. Market Revenue and Volume Forecast (2020-2032)
9.1.2. Commercial
9.1.2.1. Market Revenue and Volume Forecast (2020-2032)
9.1.3. Industrial
9.1.3.1. Market Revenue and Volume Forecast (2020-2032)
9.1.4. Infrastructural
9.1.4.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 10. Global Building Materials Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.1.2. Market Revenue and Volume Forecast, by End-User (2020-2032)
10.1.3. U.S.
10.1.3.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.1.3.2. Market Revenue and Volume Forecast, by End-User (2020-2032)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.1.4.2. Market Revenue and Volume Forecast, by End-User (2020-2032)
10.2. Europe
10.2.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.2.2. Market Revenue and Volume Forecast, by End-User (2020-2032)
10.2.3. UK
10.2.3.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.2.3.2. Market Revenue and Volume Forecast, by End-User (2020-2032)
10.2.4. Germany
10.2.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.2.4.2. Market Revenue and Volume Forecast, by End-User (2020-2032)
10.2.5. France
10.2.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.2.5.2. Market Revenue and Volume Forecast, by End-User (2020-2032)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.2.6.2. Market Revenue and Volume Forecast, by End-User (2020-2032)
10.3. APAC
10.3.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.3.2. Market Revenue and Volume Forecast, by End-User (2020-2032)
10.3.3. India
10.3.3.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.3.3.2. Market Revenue and Volume Forecast, by End-User (2020-2032)
10.3.4. China
10.3.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.3.4.2. Market Revenue and Volume Forecast, by End-User (2020-2032)
10.3.5. Japan
10.3.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.3.5.2. Market Revenue and Volume Forecast, by End-User (2020-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.3.6.2. Market Revenue and Volume Forecast, by End-User (2020-2032)
10.4. MEA
10.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.4.2. Market Revenue and Volume Forecast, by End-User (2020-2032)
10.4.3. GCC
10.4.3.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.4.3.2. Market Revenue and Volume Forecast, by End-User (2020-2032)
10.4.4. North Africa
10.4.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.4.4.2. Market Revenue and Volume Forecast, by End-User (2020-2032)
10.4.5. South Africa
10.4.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.4.5.2. Market Revenue and Volume Forecast, by End-User (2020-2032)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.4.6.2. Market Revenue and Volume Forecast, by End-User (2020-2032)
10.5. Latin America
10.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.5.2. Market Revenue and Volume Forecast, by End-User (2020-2032)
10.5.3. Brazil
10.5.3.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.5.3.2. Market Revenue and Volume Forecast, by End-User (2020-2032)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.5.4.2. Market Revenue and Volume Forecast, by End-User (2020-2032)
Chapter 11. Company Profiles
11.1. LafargeHolcim
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Saint-Gobain
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. CRH plc
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. HeidelbergCement
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. CEMEX
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. China National Building Material (CNBM)
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. USG Corporation
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Nippon Steel Corporation
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Boral Limited
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Vulcan Materials Company
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Contact Us:
Mr. Alex
Sales Manager
Call: +1 9197 992 333
Email: sales@precedenceresearch.com
Web: https://www.precedenceresearch.com
Blog: https://www.expresswebwire.com/
Blog: https://www.uswebwire.com/
