IMARC Group’s latest report, titled “Construction Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the market. The global construction materials industry also includes competitor and regional analysis, and contemporary advancements in the market.
The global construction materials market size reached US$ 1,177.0 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,516.90 Million by 2028, exhibiting a growth rate (CAGR) of 4.15% during 2023-2028.
Construction Materials Market Overview:
Construction materials are a broad category of substances and products used in building and infrastructure development. These materials encompass a diverse range, including aggregates like sand and gravel, cement, steel, wood, bricks, concrete, and various composites. Each material serves a specific purpose in construction, contributing to the structural integrity, aesthetics, and functionality of buildings and infrastructure.
The selection of construction materials depends on project requirements, environmental considerations, and local building codes. The ongoing evolution of construction materials involves innovations geared towards sustainability, durability, and efficiency, reflecting the industry’s continual pursuit of safer, more resilient, and environmentally conscious building practices.
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Competitive Landscape with Key Players:
- 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
Construction Materials Market Trends:
The global market is majorly driven by rapid urbanization and population growth. These are escalating demands for construction materials to meet the needs of expanding infrastructure residential and commercial projects. Furthermore, increasing awareness and emphasis on sustainable and eco-friendly construction practices drive the market toward environmentally responsible materials.
This includes the adoption of recycled, energy-efficient, and low-emission materials that align with green building standards. Besides, technological advancements in material science, manufacturing processes, and the development of innovative composite materials contribute to enhanced performance, durability, and cost-effectiveness.
The rise of smart materials, incorporating technologies like self-healing concrete and advanced insulation, further shapes the construction materials landscape. Moreover, government initiatives and policies promoting infrastructural development are pivotal in market growth. Investments in large-scale construction projects, especially in emerging economies, create a robust demand for construction materials.
Additionally, the COVID-19 pandemic has accelerated the adoption of new building practices, emphasizing materials that enhance hygiene, safety, and indoor air quality. As the construction industry continues to evolve, driven by these factors, the construction materials market is poised for sustained expansion, reflecting the dynamic and innovative nature of the global building sector.
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Key Market Segmentation:
Breakup by Material Type:
- Aggregates
- Cement
- Bricks and Blocks
- Metals
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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