The Global Construction Materials Market has recently been analyzed and explored by Fortune Business Insights™ in their latest market research report. The team of dedicated analysts and researchers has gone to great lengths to provide a comprehensive overview of both current and future scenarios pertaining to the Construction Materials Market. As a result, this report is packed with valuable insights that will be highly advantageous for industry players looking to maintain a competitive edge.
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.
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Forecast Growth Projected:
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.
List of the Key Players in the Construction Materials Market:
- 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)
Competitors Landscape:
The realm of Construction Materials Market is rife with cutthroat competition and fragmentation, a result of the considerable presence of both global conglomerates and domestic contenders. Industry insiders situated in diverse geographical regions are formulating and executing effective strategies to exploit unexplored opportunities and extend their business outreach. In this highly aggressive environment, prominent players are aggressively pursuing tactics to enhance their market share through various channels.
Segmentation:
- Rising Interest in Building Aggregates to Foster the Segment Expansion
Based on material type, the market is segregated into bricks and blocks, cement, aggregates, metal, and others. The aggregates segment captured the largest U.S. construction materials market share in 2022. The growing interest in building aggregates for residential and business projects owing to the expansion in restoration and restoration activities in the construction sector is fueling the segment growth.
- Growing Migration of People from Remote to Metropolitan Areas to Spur Residential Segment Growth
By end-user, the market is categorized into infrastructure, commercial, industrial, and residential. The residential segment secures the largest share of the market. The initiatives across various countries are being propelled by the migration of people from remote to metropolitan regions by organizing drives across the real estate industry. This factor is bolstering the residential segment growth.
Drivers and Restraints:
SurgingUsage of Sustainable Materials Coupled with Uptake of Smart Technologies to Escalate Market Growth
One of the major factors propelling the U.S. construction materials market growth is a rise in the deployment of sustainable materials and the adoption of smart technologies. New technologies are being embraced by construction materials manufacturers, which aid them with making adjustments to a moving construction market.
However, the growing environmental concerns pertaining to unfavorable construction scenarios may impede market growth. During the assembly system, large amounts of CO2 and toxins, including carbon monoxide and unpredictable natural mixtures are emitted.
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