The global building materials market size is projected to hit around USD 1,829.78 billion by 2032 from USD 1,296.79 billion in 2023, expanding 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 the construction industry, encompassing a wide array of products essential for residential, commercial, and infrastructure development. This market is characterized by its dynamic nature, influenced by factors such as economic growth, urbanization, and technological advancements. Building materials include cement, steel, wood, glass, insulation materials, and various others, contributing significantly to the construction sector’s overall landscape.
Growth Factors:
The building materials market is propelled by robust growth in the construction industry worldwide. As emerging economies continue to urbanize and develop infrastructure, the demand for construction materials rises. Additionally, the increasing trend towards sustainable and eco-friendly building materials has become a significant growth factor. Green building initiatives and energy-efficient construction practices drive the adoption of innovative and environmentally friendly materials, fostering market expansion.
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Building Materials Market Dynamics
Drivers:
Key drivers influencing the building materials market include population growth, rapid urbanization, and the need for modern infrastructure. Government investments in infrastructure projects, especially in developing regions, act as a strong driver. Technological advancements, such as the development of smart materials and the integration of digital technologies in construction processes, also contribute to market growth. Moreover, a rising awareness of energy efficiency and durability among consumers propels the demand for high-performance building materials.
Trends:
The industry experiences various trends shaping its landscape, including a shift towards prefabricated and modular construction methods. Sustainable construction practices, incorporating recycled and locally sourced materials, are gaining traction. Another notable trend is the increasing use of digital technologies like Building Information Modeling (BIM) for efficient project management and design. Additionally, the incorporation of smart building technologies, such as sensors and automation, is becoming prevalent, enhancing energy efficiency and overall building performance.
Region Snapshot
The building materials market exhibits regional variations influenced by economic conditions, construction activities, and regulatory frameworks. Developing economies in Asia-Pacific, particularly China and India, are witnessing substantial growth due to rapid urbanization and infrastructure development. North America and Europe are driven by renovation and remodeling activities, while the Middle East and Africa show growth prospects in response to large-scale infrastructure projects.
Competitive Landscape:
The building materials market is highly competitive, with numerous global and regional players vying for market share. Major companies invest in research and development to introduce innovative products and gain a competitive edge. Cement manufacturers, steel producers, and providers of specialized materials constitute key players. Mergers and acquisitions are prevalent strategies for market consolidation, as companies aim to expand their product portfolios and geographical presence. Sustainability and environmental responsibility are increasingly becoming factors that differentiate companies in this competitive landscape.
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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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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