Global Construction Materials Market to Reach US$ 1,705.2 Million by 2032, Stimulated by Significant Growth in Construction Industry

September 08, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled “Construction Materials Market by Material Type (Aggregates, Cement, Bricks and Blocks, Metals, and Others), End User (Residential, Infrastructure, Commercial, Industrial), and Region 2024-2032,” the global construction materials market size reached US$ 1,225.9 Million in 2023. Construction materials are fundamental components used in the creation of buildings, infrastructure, and various civil engineering projects. These materials encompass a wide range of substances, each chosen for its specific properties and suitability for different construction applications. Common construction materials include concrete, which provides structural strength and durability, steel, prized for its high tensile strength and flexibility, wood, valued for its versatility and aesthetic appeal, and bricks, recognized for their durability and load-bearing capacity. These materials often offer improved performance characteristics, including enhanced insulation, corrosion resistance, and reduced environmental impact.

Global Construction Materials Market Trends:

The accelerating growth of cities demanding substantial construction projects for residential, commercial, and infrastructural needs is driving the global market. This increase in construction activity directly fuels the demand for various materials such as cement, concrete, metals, and aggregates. Moroever, continual technological advancements are also playing a pivotal role in augmenting the market forward. Innovations, including 3D printing, prefabrication, and advanced manufacturing techniques, are revolutionizing the way buildings are designed and constructed. These technologies offer increased efficiency, reduced waste, and faster project completion, transforming traditional construction practices. Additionally, the recovery and growth of economies post-pandemic are expanding construction activities as governments invest in infrastructure projects to stimulate economic revival. This rise in public and private sector construction initiatives contributes significantly to the demand for construction materials. Heightened environmental awareness and concerns over carbon emissions have pushed the industry to adopt more eco-friendly materials and construction methods. Looking forward, the market value is projected to reach US$ 1,705.2 Million by 2032, expanding at a CAGR of 3.74% during 2024-2032.

Market Summary:

Based on the material type, the market has been segmented into aggregates, cement, bricks and blocks, metals, and others. Currently, the aggregates represent the largest market segment.
On the basis of the end user, the market has been divided into residential, infrastructure, commercial and industrial. Among these, residential exhibits a clear dominance in the market.
Region-wise, the market has been segmented into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. Among these, North America holds the leading position in the market.
The competitive landscape of the market has also been examined, with some of the key players being Aditya Birla Management Corporation Pvt. Ltd., Arauco North America Inc., ArcelorMittal S.A., Boral Limited, Cemex S.A.B. de C.V., CRH plc, HeidelbergCement, Holcim Group, JK Cement Ltd., Kronoplus Limited, Nippon Steel Corporation, and Sika AG.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million
Scope of the Report	Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: Material Type End User Region
Material Types Covered	Aggregates, Cement, Bricks and Blocks, Metals, Others
End Users Covered	Residential, Infrastructure (It Includes Roads, Bridges, Waste Management Considered), Commercial, Industrial
Regions Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Aditya Birla Management Corporation Pvt. Ltd., Arauco North America Inc., ArcelorMittal S.A., Boral Limited, Cemex S.A.B. de C.V., CRH plc, HeidelbergCement, Holcim Group, JK Cement Ltd., Kronoplus Limited, Nippon Steel Corporation, Sika AG, etc.
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Global Construction Materials Market to Reach US$ 1,705.2 Million by 2032, Stimulated by Significant Growth in Construction Industry

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