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. 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.
This information is provided by Fortune Business Insights™ in its research report, titled “Construction Materials Market, 2025-2032”.
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Segments:
Aggregates Segment to Gain Traction Driven by Boost in Infrastructure Development
Based on material type, the market is fragmented into aggregates, cement, bricks and blocks, metals, and others. The aggregates segment is estimated to depict appreciable growth throughout the projected period. The rise can be attributed to the increasing demand for modern workplaces, commercial buildings, and shopping malls.
Residential Segment to Register Substantial Surge Owing to Urban Migration
On the basis of end-user, the market for construction materials is subdivided into commercial, residential, infrastructure, and industrial. The residential segment is anticipated to exhibit considerable expansion throughout the study period. The surge is due to population migration from rural to urban areas, owing to government initiatives for residential development.
Drivers and Restraints:
Favorable Government Initiatives to Propel Industry Expansion
One of the key factors impelling the construction materials market growth is the rapid expansion of remote areas and increased urbanization. This is attributed to the fact that governments of various countries are looking at smarter ways for increasing efficiencies, improving the quality of life, and the management of traffic complexities.
However, the market growth could be hindered due to growing concerns for unfavorable construction circumstances.
Regional Insights:
Asia Pacific to Lead Driven by Increasing Infrastructural Activities
The Asia Pacific construction materials market share is estimated to exhibit substantial growth throughout the projected period. This is due to increase in infrastructural activities in the region.
The North America market is expected to register considerable expansion over the estimated period. This is on account of the escalating dependence of the U.S. construction sector on supplies of aluminum, copper, and fixtures from other nations.
Competitive Landscape:
Industry Players Enter into Partnership Agreements to Strengthen Industry Foothold
Key companies ink collaborative deals and agreements for the consolidation of industry position. These market players are formulating and implementing a range of strategic initiatives for strengthening their foothold. Some of these initiatives include mergers, acquisitions, and the rollout of new products.