Press release
The Construction Materials Market to Be Worth $1,827.5 Billion by 2031-Exclusive Report by Meticulous Research®
According to a new market research report titled, 'Construction Materials Market by Material (Bricks, Aggregates, Concrete & Cement, Metals, Mud & Clay, Sand), Application (Residential, Commercial, Industrial, Public Infrastructure), and Geography-Global Forecast to 2031,' the construction materials market is projected to reach $1,827.5 billion by 2031, at a CAGR of 3.4% from 2024 to 2031.Construction materials are building materials used in the construction of buildings, homes, and other structures. These materials include cement, concrete, metals, bricks, wood, stone, and aggregates. The choice of material depends on a number of considerations, including the type of structure to be constructed, the desired aesthetics, the budget, and local material availability. Material quality determines the strength and longevity of the building. With advances in technology, engineers are using increasingly efficient techniques to mix and match construction materials and build high-quality structures.
Rapid urbanization has boosted the need for new housing, commercial buildings, and infrastructure such as roads and public transport, driving the demand for construction materials. Factors such as rising disposable incomes, increasing government investments in infrastructure development projects, the shift toward sustainable construction practices, advancements in construction techniques & materials science, and the increasing number and scale of infrastructure projects in growing economies are supporting the growth of the construction materials market.
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The construction materials market is segmented by material (bricks, aggregates, concrete & cement, metals, stone, sand, plastic, glass, mud & clay, wood, and other materials), application (residential [apartments & buildings, standalone housing, and other residential applications], commercial [offices, malls & retail stores, hotels & restaurants, educational institutes, medical facilities, and other commercial applications], industrial [warehouses, data centers, manufacturing facilities, and other industrial applications], and public infrastructure [bridges, dams, highways & overbridges, tunnels, railways, water infrastructure, sewers, and other public infrastructure applications]) and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on material, the construction materials market is segmented into bricks, aggregates, concrete & cement, metals, stone, sand, plastic, glass, mud & clay, wood, and other materials. In 2024, the concrete & cement segment is expected to account for the largest share of over 39% of the construction materials market. The large market share of this segment is attributed to the rapid growth of cities worldwide, the rising demand for concrete due to growth in high-rise buildings, commercial spaces, and urban infrastructure, and the development of new concrete formulations & construction techniques. The players in the concrete & cement market are focused on partnerships to introduce technologically advanced products. For instance, in November 2021, Ambuja Cements Ltd (India) partnered with the IITD (Indian Institute of Technology Delhi, India) to develop next-generation calcined clay cement, a low-carbon material, to promote sustainable construction.
Based on application, the construction materials market is segmented into residential, commercial, industrial, and public infrastructure. In 2024, the commercial segment is expected to account for the largest share of over 28% of the construction materials market. The large market share of this segment is attributed to the increasing construction of new office spaces, retail stores, warehouses, and other commercial facilities due to growth in business, advancements in construction technologies, and the increasing use of sustainable building practices in the construction of commercial spaces. In November 2023, NCP Industries (U.S.) and Carbon Limit Limited (U.S.) launched their first commercial CCS concrete line with innovative CaptureCrete technology for the building industry.
Based on geography, the construction materials market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of over 51% of the construction materials market. Market growth in Asia-Pacific is driven by the increasing government investments in infrastructure development projects, the rapid pace of urbanization in the region driving the demand for housing, commercial buildings, and related infrastructure, the increasing focus on sustainable building practices, and economic growth in Asian countries boosting investments in construction projects. In February 2024, the China Cement Association (CCA) signed an agreement with GCCA Inc. (U.K.) to work together on sustainability and low-carbon development of the cement & concrete industry.
The key players operating in the construction materials market are CRH plc (Ireland), Cemex, S.A.B. de C.V. (Mexico), Heidelberg Materials AG (Germany), LIXIL Corporation (Japan), Ambuja Cements Ltd (India), Knauf Digital GmbH (Germany), China National Building Material Group Co., Ltd. (China), Boral Limited (Australia), Grasim Industries Limited (India), Holcim (Switzerland), BBMG Corporation (China), Anhui Conch Cement Co., Ltd. (China), Saint-Gobain Group (France), Sika AG (Switzerland), and ArcelorMittal (Luxembourg).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/construction-materials-market-5938
Scope of the Report:
Construction Materials Market Assessment-by Material
• Bricks
• Aggregates
• Concrete & Cement
• Metals
• Stone
• Sand
• Plastic
• Glass
• Mud & Clay
• Wood
• Other Materials
Construction Materials Market Assessment-by Application
• Residential
o Apartments & Buildings
o Standalone Housing
o Other Residential Applications
• Commercial
o Offices
o Malls & Retail Stores
o Hotels & Restaurants
o Educational Institutes
o Medical Facilities
o Other Commercial Applications
• Industrial
o Warehouses
o Data Centers
o Manufacturing Facilities
o Other Industrial Applications
• Public Infrastructure
o Bridges
o Dams
o Highways & Overbridges
o Tunnels
o Railways
o Water Infrastructure
o Sewers
o Other Public Infrastructure Applications
Construction Materials Market Assessment-by Geography
• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Netherlands
o Rest of Europe
• Asia-Pacific
o Japan
o China
o India
o South Korea
o Australia & New Zealand
o Rest of Asia-Pacific
• Latin America
o Mexico
o Brazil
o Rest of Latin America
• Middle East & Africa
o UAE
o Saudi Arabia
o Rest of Middle East & Africa
You can Buy Report from Here: https://www.meticulousresearch.com/Checkout/60097775
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https://www.meticulousresearch.com/product/construction-equipment-market-5847
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https://www.meticulousresearch.com/product/modular-construction-market-5820
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https://www.meticulousresearch.com/product/3d-printing-construction-market-5450
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