Construction Materials Market Segmentation, Trends, And Forecast 2032

According to Fortune Business insights the global construction materials market size was valued at USD 1,320.01 billion in 2023 and is 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.

Construction materials are various materials deployed in the establishment of roads, buildings, bridges, and other infrastructure. Each material possesses unique characteristics and attributes, making it suitable for multiple types of construction projects. The market’s growth can be credited to the growing disposable income of the public, which has led to the expansion of property ownership, further supporting the need for property investments.

Fortune Business Insights™ provides this information in its research report, titled "Construction Materials Market, 2025-2032".

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Segmentation Analysis:

Aggregates Segment to Gain Traction Driven by Boost in Infrastructure Development

Based on material type, the market is fragmented into aggregates, cement, bricks and blocks, metals, and others. The aggregates segment is estimated to depict appreciable growth throughout the projected period. The rise can be attributed to the increasing demand for modern workplaces, commercial buildings, and shopping malls.

Residential Segment to Register Substantial Surge Owing to Urban Migration

On the basis of end-user, the market for construction materials is subdivided into commercial, residential, infrastructure, and industrial. The residential segment is anticipated to exhibit considerable expansion throughout the study period. The surge is due to population migration from rural to urban areas, owing to government initiatives for residential development.

Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Report Coverage:

The report provides a comprehensive analysis of the key factors boosting the global business scenario over the forthcoming years. It further gives an insight into the major trends impelling the industry landscape throughout the projected period. Additional aspects of the report include the vital steps taken by leading companies for strengthening their industry position.

Drivers and Restraints:

Favorable Government Initiatives to Propel Industry Expansion

One of the key factors impelling the construction materials market growth is the rapid expansion of remote areas and increased urbanization. This is attributed to the fact that governments of various countries are looking at smarter ways for increasing efficiencies, improving the quality of life, and the management of traffic complexities.

However, the market growth could be hindered due to growing concerns for unfavorable construction circumstances.

Competitive Landscape:

Industry Players Enter into Partnership Agreements to Strengthen Industry Foothold

Key companies ink collaborative deals and agreements for the consolidation of industry position. These market players are formulating and implementing a range of strategic initiatives for strengthening their foothold. Some of these initiatives include mergers, acquisitions, and the rollout of new products.

List of Key Players Mentioned in the Report:

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)
Boral Limited (Australia)
Key Industry Development:

January 2023- Chrono Chape, one of the leading independent providers of on-site self-leveling screeds in France, has been acquired by Holcim. These fluid functions create a smooth foundation upon which builders can lay the floor's finish such as tile or carpet. The company's extensive ready-mix concrete presence throughout France creates a strong alliance of innovation and efficiency.
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