The global building materials market size was valued at USD 1,296.79 billion in 2023 and is expected to grow around USD 1,829.78 billion by 2032, at a CAGR of 3.90% during the forecast period 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 is a dynamic and crucial sector, encompassing a wide array of products that are fundamental to the construction industry. These materials include cement, steel, wood, glass, and various composites, serving as the foundation for residential, commercial, and industrial infrastructure. The market is deeply influenced by factors such as urbanization, population growth, and economic development, making it a pivotal component of the broader construction and real estate landscape.
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Growth Factors
The building materials market experiences sustained growth due to the increasing demand for construction projects worldwide. Urbanization trends, particularly in emerging economies, drive the need for new housing, commercial spaces, and infrastructure. Technological advancements in materials, such as sustainable and eco-friendly options, contribute to market expansion. Additionally, government initiatives promoting infrastructure development further propel growth.
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 |
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Building Materials Market Dynamics
Drivers:
Several factors act as drivers for the building materials market. Population growth, coupled with rapid urbanization, leads to a surge in construction activities. Infrastructure projects, driven by government investments, play a significant role in boosting demand for building materials. Innovations in construction techniques and materials, aimed at improving efficiency and sustainability, also drive market growth. Furthermore, the growing awareness of environmental impact encourages the adoption of green building materials.
Opportunities:
The building materials market presents promising opportunities with the increasing emphasis on sustainable and energy-efficient construction. Renewable materials, smart building technologies, and innovative designs are areas where the industry can capitalize. Moreover, the rising trend of prefabrication and modular construction techniques opens up avenues for market players to explore new business models and collaborations.
Challenges:
Despite its growth, the building materials market faces challenges, including fluctuations in raw material prices, which can impact profit margins. Stringent regulations related to environmental standards and safety measures pose compliance challenges for manufacturers. Additionally, economic uncertainties and geopolitical factors can influence the market’s stability, affecting investments in construction projects.
Regional Insights:
The building materials market exhibits regional variations influenced by economic conditions, infrastructure development, and cultural preferences. In emerging economies of Asia-Pacific, rapid urbanization and government investments drive substantial market growth. In developed regions like North America and Europe, the focus on sustainable building practices and renovations contributes to a mature yet evolving market. Africa and South America present untapped potential, with infrastructure development initiatives creating new opportunities for the building materials sector. The Middle East witnesses significant construction activities, driven by ambitious urban development projects. Each region’s unique characteristics shape the demand and supply dynamics within the global building materials market.
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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