Construction materials market analysis
The development of the construction materials market is linked to the overall development of the construction industry. Rising infrastructure spending and growing demand for housing have driven growth in the global construction industry in recent years, especially in emerging markets. Find out more about the construction materials market from our brief!
How big is the global construction materials market?
The global construction materials market was worth USD 1,272 bn in 2022. The market is forecast to reach USD 1,320 bn in 2023. By 2030 it is expected to reach USD 1,729 bn, with a CAGR of 3.9% over the forecast period. In Europe, revenue in the construction equipment and materials market amounted to USD 204.2 bn in 2023, with a forecast of USD 234.3 bn by 2028. What about the Polish market? Revenue in the equipment and materials market is forecast to reach USD 74.85 m in 2024. With an annual growth rate of 3.62% over the forecast period, revenue is expected to reach USD 86.3 m by 2028.
| Year | Market value (USD bn) |
|---|---|
| 2022 | 1,272 |
| 2023 (forecast) | 1,320 |
| 2030 (forecast, CAGR 3.9%) | 1,729 |
Show chart data as a table
| Year | Revenue (USD bn) |
|---|---|
| 2020 | 202.2 |
| 2021 | 211.8 |
| 2022 | 178.5 |
| 2023 | 204.4 |
| 2024 | 210.4 |
| 2025 | 216.5 |
| 2026 | 222.4 |
| 2027 | 228.2 |
| 2028 | 234.3 |
How did the pandemic affect the construction materials market?
The 2020 pandemic hit the global market with unprecedented economic disruption: broken supply chains, shifts in resource allocation and halted construction work. It also caused huge losses for construction materials manufacturers. Many construction companies learned from this period, for example by developing strategies to secure long-term access to these materials.
What are the segments of the construction materials market?
By end user, the market divides into residential, commercial, infrastructure and industrial segments, with residential the largest and industrial the smallest.
By end user, the global construction materials market divides into four segments: residential, commercial, infrastructure and industrial. The largest segment is residential, while the smallest is industrial. By distribution channel, the market divides into general building materials wholesalers, DIY hypermarkets and supermarkets, and specialist shops.
Why are construction material prices rising?
Construction material prices have risen sharply in recent years because of the pandemic and lockdowns, as well as the war in Ukraine and inflation.
Construction material prices have risen sharply in recent years. This was due to the pandemic and lockdowns, as well as the war in Ukraine and inflation. As Damian Kaźmierczak, vice-president of the Polish Association of Construction Employers (Polski Związek Pracodawców Budownictwa), says: "I see no arguments that could suggest that prices, at least of materials, will fall drastically. Yes, we have a slowdown in the market for new construction investment, but contracts started in 2019–2022 and long-term infrastructure investments are under way and generate demand for materials."
What trends are shaping the construction materials market?
The main trend for the coming years is smart construction materials, which adapt quickly and change their properties depending on conditions. One example is smart glass. 3D printing will also become more important as a way to reduce waste. The market is also driven by growing urbanisation and rapid expansion. Government initiatives and programmes are boosting demand in construction. Customers are becoming more aware and demanding, which makes innovative solutions more popular. We wrote more about industry trends in a recent article.
Authors: Cyprian Laskowski, Katarzyna Kucia
This text is not a full market analysis of the kind we carry out for our clients. It contains only selected information about the market, which we can expand on request.
Ready-made market reports in PDF
Market Scan by MarketHub has ready-made PDF reports on selected markets: market size, key players, trends and data sources. If your market is not covered, we will prepare an in-depth market analysis.