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Building Materials Market Size

Report ID: GMI12711
Published Date: Dec 2024
Report Format: PDF

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Building Materials Market Size

The global building materials market size was valued at USD 824.4 billion in 2023 and is estimated to grow at a CAGR of over 6.2% from 2024 to 2032. Smart materials are becoming increasingly integral to modern construction.

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For instance, self-healing concrete autonomously mends cracks over time, while thermochromic glass alters its tint in response to temperature changes. Such innovations not only boost the durability and energy efficiency of structures but also elevate user comfort, catering to the rising appetite for "smart" homes and buildings.

Building Materials Market Report Attributes
Report Attribute	Details
Base Year:	2023
Building Materials Market Size in 2023:	USD 824.4 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	6.2%
2032 Value Projection:	USD 1.4 Trillion
Historical Data for:	2021 - 2023
No. of Pages:	220
Tables, Charts & Figures:	180
Segments covered:	Material Type, Construction Type, Application, End Use, Distribution Channel, and Region
Growth Drivers:	Urbanization & population growth Renovation and retrofit activities
Pitfalls & Challenges:	Fluctuating raw material prices

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Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global building materials industry was valued at USD 824.4 billion in 2023 and is projected to grow at a 6.2% CAGR from 2024 to 2032, driven by the increasing adoption of smart materials in construction.

The concrete segment generated USD 300.7 billion in revenue in 2023 and is expected to grow at a 6.5% CAGR from 2024 to 2032, supported by its durability, strength, and cost-effectiveness in infrastructure projects.

The U.S. building materials market was valued at USD 173 billion in 2023 and is forecasted to grow at a 6.3% CAGR from 2024 to 2032, driven by population growth, urbanization, and demand for larger single-family homes.

Key players in the sector include Anhui Conch Cement, Boral Limited, Cement Roadstone Holding, Cemex S.A.B. de C.V., China National Building Material Group Corporation, Etex Group, Heidelberg Materials, and Holcim Group.