Construction Materials Market Size, Share, Industry Analysis, Trends, Growth, 2032

Construction Materials Industry Prospective:

The global construction materials market size was evaluated at $1,322 billion in 2023 and is slated to hit $1,870 billion by the end of 2032 with a CAGR of nearly 4% between 2024 and 2032.

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Construction Materials Market: Overview

Construction materials consist of cement, bricks, stone aggregates, gravel, and sand. Furthermore, these products provide stiff resistance against fire, rain, and sunlight along with providing durability to the new constructions. Reportedly, construction materials are able to withstand unfavorable climatic conditions. In addition to this, they provide excellent heat conduction which helps in lowering of interior temperatures than exterior ones. These products help in construction of statues, decorative sculptures, bookshelves, concrete tables, and patios.

Key Insights

• As per the analysis shared by our research analyst, the global construction materials market is projected to expand annually at the annual growth rate of around 4% over the forecast timespan (2024-2032)
• In terms of revenue, the global construction materials market size was evaluated at nearly $1,322 billion in 2023 and is expected to reach $1,870 billion by 2032.
• The global construction materials market is anticipated to grow rapidly over the forecast timeline owing to an increase in road construction activities and the construction of highways.
• In terms of material type, the construction aggregates segment is slated to register the highest CAGR over the forecast period.
• Based on end-use, the residential sector segment is predicted to contribute majorly towards the global industry profits in the upcoming years.
• Region-wise, the Middle East & African construction materials industry is projected to register the fastest CAGR during the projected timespan.

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Construction Materials Market: Growth Factors

An increment in the demand for strong buildings & constructions to propel the global market expansion by 2032

A rise in smart city construction will pave the way for the expansion of the global construction materials market. An increase in road construction activities and the construction of highways is likely to proliferate the size of the global market in the years to come. Rising population and urbanization are promoting the growth of the market globally. In addition to this, a rise in per capita income, a rise in infrastructure ventures, and supportive government schemes will drive the expansion of the market globally. Thriving tourism sector leading to a humungous need for tourist accommodation will steer the growth of the global market.  

Construction Materials Market: Restraints

Scarce availability of raw materials to put brakes on the global industry expansion in the coming years

A surge in the costs of raw components and supply chain disruptions can decline the growth of the construction materials industry globally. Lack of investment in the real estate sector in recent years has severely impacted the growth of the global industry. Growing costs of houses with a rise in stamp duties and property taxes have further decimated the demand for construction materials.

Construction Materials Market: Opportunities

Demand for green products and renewable energy trends is likely to bring a paradigm shift in the global market by 2032

Huge demand for environment-friendly materials available at reasonable costs is anticipated to open new avenues of growth for the global construction materials market. Furthermore, the escalating popularity of construction materials made from renewable sources including timber, bamboo, and cork will uplift the growth of the market globally.

Construction Materials Market: Challenges

Changing governments leading to alteration in the government policies can pose a threat to the global industry growth

Fluctuation in product costs along with a rise in the import and export duties can pose a huge challenge for the global construction materials industry in the foreseeable future. Additionally, growing political instabilities across the globe can severely affect the global industry surge in the near future.

Construction Materials Market: Segmentation

The global construction materials market is divided into material type, end-use, and region.                                          

In terms of material type, the construction materials market across the globe is bifurcated into cement, construction aggregates, construction metals, and concrete bricks segments. Additionally, the construction aggregates segment, which gained approximately two-thirds of the global market revenue in 2023, is expected to record the highest annual rate of growth in the forecast timeline. The expansion of the segment in the next eight years can be owing to the flourishing construction sector in emerging economies. Reportedly, construction aggregates are used in asphalt concrete used in the construction of bridges and commercial & residential buildings.  

Based on the end-use, the global construction materials industry is divided into commercial sector, residential sector, and industrial sector segments. Furthermore, the residential segment, which gathered approximately half of the global industry revenue in 2023, is set to make major contributions towards the global industry profitability in the next eight years. The growth of the segment in the forecasting years can be attributed to supportive government policies and the launching of housing schemes for middle-income groups as well as poor people.

Construction Materials Market: Report Scope

Construction Materials Market: Regional Insights

Asia-Pacific is expected to maintain its leadership status in the global market in the forecasting timeline

Asia-Pacific, which contributed about 75% of the global construction materials market revenue in 2023, is expected to establish a key position in the global market in the ensuing years. In addition to this, the regional market expansion in the forecast timeline can be credited to a surge in infrastructural activities in densely populated countries such as China and India. Apparently, an increase in the need of number of households in the highly populated countries of Asia will further contribute to the expansion of the market in the region.  

The Middle East and African construction materials industry is slated to register the highest growth rate in the next eight years. The rapid progression of the industry in the continent can be due to an immense increase in construction activities, urbanization, and infrastructural growth. Moreover, countries such as Saudi Arabia, Qatar, and UAE allocate huge funds for construction ventures that include residential constructions, airports, and stadiums.

Key Developments

• In the first half of 2023, Holchim, a key player in the sustainable construction sector, acquired Chrono Chape, a key French player offering on-site self-leveling screeds.
• In the first quarter of 2024, Heidelberg Materials introduced the evoBuild® brand for low-carbon and circular construction materials products. Such strategic moves are expected to boost the expansion of the global market.

Construction Materials Market: Competitive Space

The global construction materials market profiles key players such as:

• BBMG
• Anhui Conch Cement
• CRH PLC
• China National Building
• Saint-Gobain
• Sika
• Asahi Glass
• Grasim Industries
• Heidelberg Cement AG
• Masco
• Daikin Industries
• LafargeHolcim
• Ferguson
• Cemex

The global construction materials market is segmented as follows:

By Material Type

• Cement
• Construction Aggregates
• Construction Metals
• Concrete Bricks

By End-Use  

• Commercial Sector
• Residential Sector
• Industrial Sector

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa