June 19, 2024

Building Materials Market Size To Cross USD 1,829.78 Bn By 2032

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.

Building Materials Market Size 2023 To 2032

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.

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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 CoverageDetails
Market Size in 2023USD 1,296.79 Billion
Market Size by 2032USD 1,829.78 Billion
Growth Rate from 2023 to 2032CAGR of 3.90%
Largest MarketAsia Pacific
Base Year2022
Forecast Period2023 to 2032
Segments CoveredBy Type and By End-User
Regions CoveredNorth 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

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