Construction Materials Market Size, Share, Growth, And Industry Analysis by Type (Construction Aggregates, Concrete Bricks, Cement, Construction Metals and Others) by Application (Residential Sector, Industrial Sector, Commercial Sector), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Construction Materials Market Report Overview

• 
• Request Free Sample to learn more about this report

The global construction materials market size was USD 1121100 million in 2022 and market projected to touch USD 1724335.7 million by 2031, exhibiting a CAGR of 4.9% from 2022 to 2031.

Any substance used in structural building is referred to as a construction material. Buildings have been made using a variety of naturally existing materials, including clay, pebbles, sand, wood, even twigs and leaves. In addition to naturally existing materials, a variety of man-made items, some more synthetic than others, are in use. Building materials production is a well-established sector in many nations, and the trades that employ them are often divided into particular specialties like carpentry, insulation, plumbing, and roofing. They offer the components of ecosystems and buildings, such as houses.

The construction material market size is being driven by the growing uses of construction materials in the residential and commercial sectors. Around the world, producers are active in the lucrative construction material sector. To match customer demands, these firms are raising their capital investments while putting more of an emphasis on R&D operations and higher-quality products. The ongoing construction of infrastructure in emerging nations is a factor in the quick growth of the world market for building supplies. However, a significant obstacle to the global construction market growth is high production costs. The development of the construction material market is also being hampered by developing nations' lack of knowledge about the advantages of eco-friendly materials in the construction industry.

COVID-19 Impact: Construction Market Sees Sharp Decline Amidst COVID-19 Pandemic

The COVID-19 pandemic has undoubtedly had an effect on the construction material market. The virus has reduced the demand for construction projects, as well as the supply of construction workers and supplies which had hampered the construction material market share. Construction activity has decreased and expenditures have gone up as a result of these causes. A number of building projects have also been halted or abandoned as a result of the COVID-19 outbreak. Although the long-term effects of the virus on the building business are unknown, the immediate effects are anticipated to persist.

Latest Trends

"Increasing Government Initiatives to Use Eco-friendly Packaging "

Construction materials are in high demand as a result of governments' increasing efforts to encourage the adoption of eco-friendly packaging options. Eco-friendly packaging options are used to comply with any revised government rules as well as to differentiate products from the competition. Different techniques are being used by market participants to keep ahead of the competition. Businesses operating in this industry also have the objective of doing in-depth research and developing cutting-edge packaging solutions. Numerous governmental and non-governmental groups make significant efforts to encourage consumers and business owners to buy and utilize eco-friendly packaging. New, creative, and affordable green construction material variations are likewise being introduced by several organizations, and they are predicted to significantly lessen the consequences thus resulting in increase of construction material market growth.

Construction Materials Market SEGMENTATION

• 
• Request Free Sample to learn more about this report

• By type

Depending on construction materials market given are types: construction aggregates, concrete bricks, cement, construction metals and others. The construction aggregates  type will capture the maximum market share through 2031.

• By Application

The market is divided in residential sector, industrial sector, commercial sector based on application. The global construction materials market  players in cover segment like residential sector will dominate the market share during 2031.

Driving Factors

"Growing Need For Infrastructure Development Across The World, Which Is Driving The Demand For Construction Services"

The construction industry is increasing as a result of the fast industrialization and urbanisation, necessitating the expansion of the construction infrastructure. Due to the fast industrialization and urbanisation, there is a rising need for infrastructure development in the construction industry. The population is expanding quickly, disposable incomes are growing, and people's lifestyles are changing, which are the main drivers of the construction sector's expansion. A nation's GDP is mostly contributed by the building industry, which also employs a sizable workforce. The development of construction infrastructure is a labor-intensive sector that needs a lot of manpower, money, and raw resources. One of the biggest users of raw materials like cement, sand, and steel is the building industry.

"Foreign Investment Is Pouring Into The Construction Sector In Many Countries, Providing A Boost To The Market"

Foreign investment has various advantages for the construction industry. For starters, foreign investment gives them the money they require to grow their companies and take on new initiatives. Foreign investment also introduces modern management techniques and technology to the construction industry, which may assist raise the calibre of building projects. Finally, foreign investment can assist to lower unemployment by creating jobs in the building industry. Although the USA remains the top destination for international investment, the emergence of Asia Pacific as a financial hub is noteworthy. China, Australia, and Singapore are the nations in the area that have drawn the most foreign investment for their building industries. Between 2013 and 2018, the value of the Chinese construction market is anticipated to rise by 54.5%, while the value of the Australian construction industry is anticipated to rise by 46.7%.

Restraining Factors

"Unfavorable Construction Circumstances Are Having An Influence On The Market For Construction Materials"

The construction material market has faced a variety of difficulties in the past as a result of unexpected meteorological conditions, such as extended winters, the rise in sea levels, and erratic rainfalls. These circumstances have an effect on the construction materials industry as well, making it challenging to predict the material requirements for upcoming construction projects. Because of the intense competition in the construction materials sector, prices are always under pressure. This directly affects how profitable the market's active businesses are. The market for construction materials market share is also being impacted by other factors, such as the growing cost of raw materials and the requirement to adhere to government-set quality requirements.

Construction Materials Market Regional Insights

• 
• Request Free Sample to learn more about this report

"North America Will Dominate The Global Market For Construction Materials"

The market for building materials worldwide is dominated by North America. The region's market for construction materials is expanding as a result of strict laws governing the use of environmentally friendly products in the construction sector. Additionally, the market size is expanding as green building technology in North America is becoming more widely used and recognised. The increased use of green construction technology in several applications for renovation and retrofitting is anticipated to drive construction material market size in North America.

With a fall in investor confidence, the economic downturn and soaring inflation have had a detrimental influence on the future for building in Western Europe. Although several markets in the area had promising starts to the year, the output is expected to continue to fall from its peak in Q1 2022. Weak investment growth, high prices for essential building materials, and energy costs will all have a negative impact on output. Given the significance of Russian and Ukrainian commodities supply, this tendency has been made worse by the impact of the Ukraine war.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• CEMEX (Mexico)
• China National Building Material Company (China)
• HeidelbergCement (Germany)
• LafargeHolcim (Switzerland)
• Knauf (Germany)
• Saint Gobain (France)
• BaoWu (China)
• ArcelorMittal (Luxembourg)
• USG (U.S.)
• CSR (Australia)
• Nippon (Japan)
• Etex (Belgium)
• Boral (Australia)
• Arauco (Chile)
• AWI (U.S.)
• Kronospan (U.K.)
• BNBM (China)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.