Construction Materials Market Drivers, Threats And Growth Forecast To 2032
The construction materials market is a broad and diverse market that encompasses a wide range of materials used in the construction of buildings, infrastructure, and other structures. The market is driven by the growth of the construction industry, which is expected to continue to grow in the coming years due to factors such as urbanization, economic development, and population growth. The global construction materials market was valued at USD 1.27 trillion in 2022 and is projected to reach USD 1.72 trillion by 2030, growing at a CAGR of 3.9% during the forecast period. The market is segmented by type, application, and region. By type, the market is segmented into aggregates, concrete, cement, construction metals, and others. Aggregates are the largest segment of the market, accounting for over 30% of the total market share. Concrete is the second largest segment, followed by cement. Construction metals are expected to grow at the fastest CAGR during the forecast period. By applicat