Building Materials Market to Reach USD 1.7 Trillion by 2031 | CAGR 3.9% | Asia-Pacific Leads with 40% Share | Key Players: CEMEX, CNBM, LafargeHolcim, Boral Limited, Buzzi Unicem, Dyckerhoff, CRH Plc, CSR Limited, Aditya Birla Group, Ambuja Cements

Building Materials Market Size

The global building materials market reached USD 1.3 trillion in 2022 and is projected to grow to USD 1.7 trillion by 2031, registering a CAGR of 3.9% during the forecast period of 2024-2031. Market growth is driven by rising demand for construction materials, fueled by government investments in infrastructure development, including public buildings, utilities, and transportation networks. Ongoing expansion in sectors such as highways, railways, tunnels, non-residential buildings, and mining further reinforces the need for new infrastructure, creating sustained demand for diverse building materials. The market is also benefiting from urbanization, industrialization, and modernization efforts, which are pushing both residential and commercial construction projects globally.

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Recent Developments:

✅ January 2026: A leading global cement manufacturer launched a low-carbon, high-strength cement line aimed at sustainable construction projects, reducing CO2 emissions by up to 40% compared to traditional products.

✅ November 2025: A multinational building materials company announced the expansion of its eco-friendly insulation product range, integrating recycled materials to improve energy efficiency in commercial and residential buildings.

✅ September 2025: A major construction aggregates producer invested in automated production and supply chain technologies to enhance operational efficiency and ensure timely delivery to large-scale infrastructure projects.

✅ June 2025: An international glass and glazing manufacturer unveiled next-generation smart glass solutions with energy-efficient and self-tinting properties, targeting commercial buildings and urban development projects.

✅ March 2025: A leading global steel supplier partnered with a regional government to supply high-performance structural steel for highways, bridges, and public infrastructure, supporting accelerated construction timelines and durability.

Mergers & Acquisitions:

✅ January 2026: A leading global cement and concrete company acquired a specialty concrete additives firm, enhancing its product portfolio for high-performance and sustainable construction solutions.

✅ October 2025: A multinational building materials group merged with a European insulation manufacturer, strengthening its presence in energy-efficient building solutions across residential and commercial segments.

✅ August 2025: A major steel supplier completed the acquisition of a regional construction materials distributor, expanding its distribution network for structural steel, aggregates, and prefabricated materials.

✅ May 2025: An international glass and glazing company acquired a smart glass technology startup, integrating self-tinting and energy-efficient products into its global offerings.

✅ March 2025: Two leading construction aggregates companies merged to create a unified supplier for infrastructure projects, combining resources in quarrying, production, and logistics to serve large-scale urban and transportation developments.

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Key Players:

• CEMEX - Holds a 12.5% share, driven by its global cement and concrete solutions, including high-performance and sustainable construction materials.

• China National Building Material Company (CNBM) - Holds an 11.8% share, supported by its integrated building materials offerings, including cement, glass, and insulation products across China and international markets.

• LafargeHolcim - Holds a 11.2% share, fueled by advanced cement technologies, eco-friendly concrete solutions, and a strong presence in residential and infrastructure projects worldwide.

• Boral Limited - Holds an 8.7% share, driven by its diversified construction materials portfolio, including aggregates, asphalt, and precast concrete products.

• Buzzi Unicem SpA - Holds an 8.1% share, supported by innovative cement production, sustainable materials, and strategic acquisitions across Europe and the Americas.

• Dyckerhoff AG - Holds a 7.3% share, fueled by high-quality cement and ready-mix concrete solutions, focusing on infrastructure and industrial construction projects.

• CRH Plc - Holds a 9.0% share, driven by its extensive portfolio of building materials, including aggregates, cement, and concrete solutions for global markets.

• CSR Limited - Holds a 5.6% share, supported by residential and commercial building products, including plasterboard, insulation, and prefabricated materials.

• Aditya Birla Group - Holds a 7.0% share, fueled by cement, aggregates, and ready-mix concrete offerings, targeting infrastructure and urban development projects in India and abroad.

• Ambuja Cements - Holds a 6.8% share, driven by eco-friendly cement products, sustainable manufacturing processes, and strong distribution networks across India.

Market Segmentation:

By type, cement leads the market with around 30% share, driven by its critical role in infrastructure, residential, and commercial construction. Construction aggregates account for 25%, supported by extensive use in roads, highways, and large-scale civil projects. Concrete bricks represent 15%, owing to demand in residential and commercial building construction. Metals capture 20%, including structural steel and aluminum used in high-rise buildings, industrial projects, and urban infrastructure. Other materials, such as glass, insulation, and composites, make up 10%, reflecting the growing focus on sustainable and energy-efficient construction solutions.

By end-user, the residential sector dominates with 35% share, fueled by urbanization, housing development, and growing population demand. Commercial construction accounts for 25%, including office complexes, retail spaces, and hospitality projects. Infrastructural projects, such as highways, bridges, and airports, hold 25%, driven by government investments and public-private partnerships. The industrial segment represents 15%, covering factories, warehouses, and manufacturing facilities requiring high-performance building materials.

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Regional Insights

Asia-Pacific leads the market with around 40% share, fueled by rapid urbanization, industrialization, and large-scale infrastructure projects in countries like China, India, and Japan. North America accounts for approximately 25%, supported by strong residential and commercial construction, as well as government investments in highways, bridges, and public utilities.

Europe holds about 20%, driven by sustainable construction initiatives, renovation projects, and modernization of infrastructure across Germany, France, and the UK. Latin America represents roughly 8%, with growth supported by urban development and industrial construction in Brazil, Mexico, and Argentina.

Middle East & Africa account for 7%, led by large-scale infrastructure projects, smart city developments, and investments in energy-efficient buildings across GCC countries and South Africa.

Building Materials Industry Trends:

The global building materials market is being shaped by several key trends that are influencing demand and growth. One major trend is the rising demand for innovative materials, driven by the increasing focus on affordable, environmentally friendly, and energy-efficient construction. As residential and commercial construction activity rebounds, developers and consumers are seeking sustainable solutions, prompting the industry to adopt advanced and eco-friendly building materials. Government initiatives promoting green construction and energy efficiency further support this trend. For example, CRH Ventures, launched in 2022 with a fund of USD 250 million, is investing in technologies addressing decarbonization, automation, and sustainable construction materials, signaling the growing importance of innovation in the sector.

Another trend is the rapid expansion of the commercial and infrastructure sector, which is increasing demand for building materials across a wide range of applications. Foreign direct investment and government-led projects in public spaces, roads, bridges, and urban infrastructure are driving this growth. According to investment data, approximately 17% of the NIP 2019-2025 investment budget was allocated to railways, 16% to urban infrastructure, and 19% to roads and motorways, highlighting the scale of ongoing infrastructural developments. Additionally, commercial construction expenditures in the U.S. rose from USD 93,086 million in May 2021 to USD 104,434 million in February 2022, reflecting the growing need for materials in commercial projects.

However, volatility in building material prices poses a challenge for market growth. Analysis by the Associated General Contractors of America indicates that the cost of goods and services in nonresidential construction increased at a double-digit rate in November 2021 due to surging material costs. Manufacturers, distributors, and service providers have raised prices by 10.1% year-over-year, outpacing the 7.4% growth in the producer price index for completed goods, creating cost pressures for contractors and slowing overall market expansion.

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