Pune, India, May 22, 2023 (GLOBE NEWSWIRE) -- The global construction materials market size stood at USD 1,272.60 billion in 2022 and is estimated to surge from USD 1,320.01 billion in 2023 to USD 1,729.62 billion by 2030, exhibiting a CAGR of 3.9% over the forecast period. The rise can be credited to the surging demand for residential apartments and growing infrastructure spending.
This information is provided by Fortune Business Insights™ in its research report, titled “Construction Materials Market, 2023-2030”.
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List of Key Players Mentioned in the Construction Materials Market Report:
- 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)
- Boral Limited (Australia)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 3.9% |
| 2030 Value Projection | USD 1,729.62 Billion |
| Market Size in 2022 | USD 1,272.60 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 120 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Construction Materials Market Growth Drivers | Government Initiatives Favoring an Increase in the Number of Smart Cities to Boost Product Demand. |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/construction-materials-market-107415
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.
Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report provides a comprehensive analysis of the key factors boosting the global business scenario over the forthcoming years. It further gives an insight into the major trends impelling the industry landscape throughout the projected period. Additional aspects of the report include the vital steps taken by leading companies for strengthening their industry position.
COVID-19 Impact:
Industry Growth Affected Due to Halt on Supply Chain & Construction Activities
The coronavirus pandemic resulted in unprecedented economic disruption. The period led to breaks in supply chains, disruptions in cash flow, shifts in resource allocation, and others. With the enforcement of appropriate safety measures, manufacturers resumed work and started taking on new projects. Furthermore, the pandemic led various firms to develop strategies for building the long-term availability of construction materials.
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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.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Regions
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights on Impact of COVID-19 on Global Construction Materials Market
- Supply Chain Analysis & Challenges due to Covid-19
- Steps taken by Government / Companies to Overcome this Impact
- Potential Challenges and Opportunities due to COVID-19 Outbreak
TOC Continued...!
Key Industry Development:
May 2022 – Adani Cement acquired a majority stake in Ambuja Cement and ACC for USD 10.5 billion. They ranked second and third largest among manufacturers in India with a 70 mtpa cumulative installed capacity.
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