GlobalData’s Global Construction Materials Market report provides key insights into the industry, segmentation, market analysis & outlook of the construction materials market.
The value of the global construction materials market declined by 0.3% in 2020 as a result of the COVID-19 pandemic which reduced construction activity. The market is projected to bounce back in 2021 and follow a strong growth trajectory for the rest of the forecast period. Although demand declined overall during 2020, higher selling prices were observed due to the tighter supply of raw materials following production disruptions in the mining industry. Lower energy prices, particularly during the first half of the year, have mitigated that, improving profit margins for construction material manufacturers.
Complete overview of theGlobal Construction Materialsfrom an analyst’s viewpoint.The performance of the market is forecast to accelerate, with an anticipated CAGR of 8.2% for the five years 2020 – 2025, which is expected to drive the market to a value of $1,322.5bn by the end of 2025. Comparatively, the Asia-Pacific and US markets will grow with CAGRs of 8.6% and 5.1% respectively, over the same period, to reach respective values of $1,085.6bn and $66.1bn in 2025. The gradual easing of containment measures and the immunization of the population will allow the recovery of economic activity, stimulating construction activity, and thereby boosting demand in the construction materials market.
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Market value:The global construction materials market shrank by 0.3% in 2020 to reach a value of $892,226.3 million. The compound annual growth rate of the market in the period 2016–20 was 4.1%Category segmentation:Cement is the largest segment of the global construction materials market, accounting for 37.8% of the market’s total value. The Aggregates segment accounts for a further 33.6% of the marketMarket value forecast:In 2025, the global construction materials market is forecast to have a value of $1,322,516.3 million, an increase of 48.2% since 2020. The compound annual growth rate of the market in the period 2020–25 is predicted to be 8.2%
Source from Global Data
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