PUBLISHER: 360iResearch | PRODUCT CODE: 1497852
PUBLISHER: 360iResearch | PRODUCT CODE: 1497852
[197 Pages Report] The Construction & Building Materials Market size was estimated at USD 1.94 trillion in 2023 and expected to reach USD 2.04 trillion in 2024, at a CAGR 5.43% to reach USD 2.81 trillion by 2030.
The construction & building industry encompasses producing a variety of materials used in the construction and renovation of residential and commercial buildings. High-quality construction and building materials are used to secure the highest possible standards in terms of strength, durability, and sustainability in construction. The increase in urbanization and construction of high-rise buildings worldwide, along with surging demand for easily installed products for the construction industry, are major factors boosting the market. However, the highly fluctuating cost of building materials creates difficulties in exercising good stock control, affecting the availability of building materials, including cement, steel, and wood, limiting the market growth. Moreover, the development of innovative construction materials such as reinforced concrete and translucent concrete are attracting strong demand from the customer side. Additionally, the cement manufacturers' amalgamation activities are creating lucrative market growth opportunities.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 1.94 trillion |
Estimated Year [2024] | USD 2.04 trillion |
Forecast Year [2030] | USD 2.81 trillion |
CAGR (%) | 5.43% |
Regional Insights
The construction & building materials market in the Americas is anticipated to grow during the forecast period; owing to the growing demand for construction, more people are shifting to cities, increasing the congestion in urban regions. This mandates the need for the development and enhancement of smart cities. The increase in the number of smart city projects in the United States and Canada is one of the primary factors augmenting the development of the construction & building materials market. Furthermore, the rapid growth in urbanization and industrialization across the APAC regions paves the way for construction and building materials opportunities. The APAC market's growth is driven by innovative materials and technology innovations in construction methods in major economies such as India, China, South Korea, Japan, Australia, and Vietnam. The EMEA has witnessed substantial investments in infrastructure development, including transportation, energy, and urbanization projects. Additionally, an increasing emphasis on sustainable and eco-friendly construction practices in the EMEA region leads to a growing demand for environmentally friendly materials, energy-efficient solutions, and green building certifications. On a cumulative basis, the EMEA construction and building materials market is characterized by robust growth driven by infrastructure development, urbanization, and sustainability requirements.
Market Insights
The market dynamics represent an ever-changing landscape of the Construction & Building Materials Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Construction & Building Materials Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Construction & Building Materials Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Strategic Partnership Enhances Building Material Supply Chain in Saudi Arabia
National Housing Company (NHC) has entered into a strategic partnership with CITIC Construction, a subsidiary of China's CITIC Group, with significant development aimed at strengthening the building materials supply chain within Saudi Arabia. This collaboration underscores a joint commitment to bolstering the construction sector in Saudi Arabia through enhanced supply chain solutions that ensure the availability of high-quality building materials. [Published On: 2024-05-06]
Strategic Partnership Enhances E-Commerce for LBM Dealers through Specialty Building Products and Toolbx Alliance
Specialty Building Products (SBP) has formed a strategic partnership with Toolbx, a construction material procurement platform. This collaboration is set to revolutionize e-commerce for lumber and building material (LBM) dealers by integrating SBP's extensive product inventory with Toolbx's innovative technology. This partnership aims to improve service delivery by providing comprehensive solutions and seeks to drive growth and adaptability in the ever-evolving building materials market. [Published On: 2023-12-14]
Building Materials Firm Etex Launches Offsite Construction Brand
Etex Group launched a new commercial brand called 'Remagin' which is specifically focused on offsite construction. With the invaluable support of Etex Group's research and development resources, Remagin is strategically positioned to expedite the expansion and influence of offsite construction. [Published On: 2023-06-27]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Construction & Building Materials Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Construction & Building Materials Market, highlighting leading vendors and their innovative profiles. These include Ambuja Cements Ltd. by Adani Group, Anhui Conch Cement Co., Ltd., ArcelorMittal S.A., Asia Cement Public Company Ltd., Atad Steel Structure Corporation, Athabasca Minerals Inc., BBMG Corporation Ltd., Boral Limited, CEMEX S.A.B. de C.V., China National Building Material Co., Ltd., Compagnie de Saint-Gobain S.A., CRH PLC, HeidelbergCement AG, Holcim Group, Kirby Building Systems, LafargeHolcim Ltd., Lindab Group, Lixil Group Corporation, Memaar Building Systems, Nippon Steel Corporation, Norsteel Buildings, Nucor Corporation, Sumitomo Corporation, USG Corporation, Vulcan Materials Company, and Wienerberger AG.
Market Segmentation & Coverage
structures