Dublin, July 31, 2024 (GLOBE NEWSWIRE) -- The "Construction Materials - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Construction Materials is estimated at US$1.6 Trillion in 2023 and is projected to reach US$2.5 Trillion by 2030, growing at a CAGR of 6.7% from 2023 to 2030.
The growth in the construction materials market is driven by several factors that underscore the dynamic interplay between emerging market demands and technological innovation. Rapid urbanization in emerging economies is a primary catalyst, increasing the demand for residential and commercial buildings and, by extension, construction materials. Infrastructure development initiatives, such as roads, bridges, and airports, further amplify this demand. Technological advancements that lead to cost reductions and improved material performance are also significant growth drivers, appealing to a market that values durability and sustainability.
Consumer preferences have shifted markedly towards green buildings, evidenced by the proliferation of LEED certifications, which promote the use of environmentally friendly materials. Additionally, the adoption of digital tools and technologies in construction projects enhances the efficiency and effectiveness of material usage, reducing waste and project timelines. These factors collectively fuel the continuous expansion and evolution of the construction materials industry, reflecting its critical role in shaping the built environment.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Aggregates segment, which is expected to reach US$880.4 Billion by 2030 with a CAGR of a 6.4%. The Cement segment is also set to grow at 7.5% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $428.7 Billion in 2023, and China, forecasted to grow at an impressive 9.7% CAGR to reach $579.5 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Market Trends & Drivers
- Green Building Materials Propel Growth in the Construction Industry
- Sustainable Construction Practices Expand Addressable Market Opportunity
- Advances in Prefabrication Technology Strengthen Business Case for Modern Materials
- Increasing Urbanization Generates Demand for High-Performance Construction Materials
- Rise of Smart Cities Accelerates Demand for Advanced Construction Solutions
- Advances in 3D Printing Expand the Market for Customizable Construction Materials
- Aging Infrastructure Spurs Demand for Durable and Long-Lasting Materials
- Sustainable and Green Building Materials Drive Demand in Construction Sector
- Urbanization Trends Propel Global Construction Materials Market Growth
- Innovations in Composite Materials Expand Addressable Market Opportunity
- Prefabrication and Modular Construction Throws the Spotlight On Efficient Materials
- Increase in Infrastructure Spending by Governments Generates Demand for Construction Materials
- Energy Efficiency Goals Strengthen Business Case for Advanced Insulating Materials
- Advancements in 3D Printing Technology in Construction Drive Adoption of Novel Materials
- Recycling and Reuse Trends in Construction Materials Sustain Market Growth
- The Growth of the Real Estate Sector Bodes Well for Construction Materials Market
- Safety Standards and Fire Regulations Set the Stage for Growth in Safety-focused Materials
- Development of Smart Cities Creates New Opportunities for Construction Material Providers
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Ambuja Cements Ltd., Anhui Conch Cement Company Limited, Asia Cement Public Company Ltd., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors Featured:
- Ambuja Cements Ltd.
- Anhui Conch Cement Company Limited
- Asia Cement Public Company Ltd.
- Athabasca Minerals Inc.
- Atlas Concrete
- Boral Ltd.
- UltraTech Cement
Key Questions Answered:
- How is the Global Construction Materials Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 289 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.6 Trillion |
| Forecasted Market Value (USD) by 2030 | $2.5 Trillion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/7oqw3l
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