Construction

The global construction materials market, valued at around USD 1.37 trillion in 2024, is witnessing robust growth at a CAGR of 3.9%, driven by strong construction demand across residential, commercial, industrial, and infrastructure projects. Rapid urbanization, per capita construction spending growth, and government-backed smart city and township developments are fueling material consumption, while large-scale renovation and retrofitting projects further boost demand. The rising adoption of eco-friendly, energy-efficient, and high-performance materials, including low-carbon cement, advanced composites, and recycled aggregates, is shaping both the global construction materials market and global construction materials practices globally.

Regionally, Asia-Pacific dominates, contributing approximately USD 671 billion in 2024, led by residential and commercial construction demand in China, India, and Southeast Asia. Infrastructure expansion, industrial park development, and smart city projects are also significant growth drivers. North America maintains a premium global construction materials market share, underpinned by mature construction regulations, sustainable building codes, and high adoption of green building certifications (LEED, BREEAM, GRIHA). Europe, the Middle East, and Africa show steady growth through hospitality, healthcare, institutional, and urban infrastructure projects, where prefabrication, modular construction, and advanced building technologies are increasingly utilized. Across all regions, cement, steel, aggregates, and composites remain critical in material consumption, especially in residential and infrastructure segments.

The global construction materials industry is highly competitive, with leaders such as China National Building Material Co., CRH PLC, LafargeHolcim, HeidelbergCement, CEMEX, and BBMG driving innovations in sustainable materials, circular economy solutions, and smart construction technologies. Global construction materials companies focus on optimizing supply chains, material availability, and construction equipment utilization while navigating labor cost trends, material price volatility, and regulatory compliance. With growing demand for energy-efficient, resilient, and technologically advanced buildings, the global construction materials market is well-positioned for sustained long-term growth, supported by continuous investments in infrastructure, residential, commercial, and industrial construction projects worldwide.

Largest contributor to carbon emissions in construction
cement and steel
Most commonly replaced component
Roofing
Widely used sustainable material
Bamboo

Explore the key insight

Building Materials
The global building materials market, valued at USD 1.38 trillion in 2024, is underpinned by strong demand across residential, commercial, and infrastructure construction projects. Asia-Pacific accounted for nearly 52% of global consumption in 2024, driven by large-scale urbanization, government-backed infrastructure programs, and rapid housing expansion in China, India, and Southeast Asia. In contrast, developed markets in North America and Europe maintain higher average pricing, reflecting stricter adherence to green building codes, sustainability certifications (LEED, BREEAM), and energy-efficiency mandates, while Asia-Pacific remains primarily volume-driven and cost-competitive. Evolving global trade frameworks are reshaping the cost and supply dynamics of the building materials industry. Import-export flows remain subject to moderate applied tariffs, while non-tariff measures such as safety compliance, carbon disclosure, and recycling mandates are increasing operating costs. Expansion opportunities are most pronounced in prefabricated construction materials, recycled aggregates, lightweight composites, and energy-efficient insulation, as sustainability and efficiency become central priorities across markets. At the same time, raw material price volatility and energy dependence, particularly with cement, steel, and aggregates accounting for more than 65% of operating expenses, pose persistent challenges for manufacturers. The industry’s scale is reinforced by global cement production, which exceeded 4.1 billion metric tons in 2023, continuing to serve as the backbone of construction activity.The building materials market is increasingly shaped by consolidation, innovation, and sustainability commitments. Tier-1 leaders such as CRH plc (Ireland), Heidelberg Materials, Holcim Group, Saint-Gobain, and China National Building Material dominate with integrated supply chains spanning cement, aggregates, glass, and insulation. Market intelligence indicates a wave of consolidation in 2024–2025, particularly in cement and prefabricated solutions, as global players strengthen resilience and expand ESG-compliant portfolios. Investment priorities are shifting toward low-carbon material production, regionalized hubs in Asia-Pacific, and digital construction technologies designed to enhance productivity. Meanwhile, Tier-2 regional firms and specialized suppliers are gaining ground in roofing systems, specialty flooring, and modular panels, while premium segments such as green concrete, smart insulation, and lightweight composites continue to generate higher margins and long-term market differentiation.
Formwork
The global formwork market was valued at approximately USD 11.0 billion in 2024, reflecting strong demand across residential, commercial, and infrastructure projects worldwide. North America and Western Europe dominate the formwork market with premium pricing for advanced formwork technologies, strict safety regulations, and high-efficiency OEM systems, while Asia-Pacific and Latin America focus on cost-effective solutions such as plywood, timber, and aluminum formwork, driven by large-scale infrastructure and real estate developments. Regional trends highlight urbanization, industrial expansion, and government-backed smart city initiatives as key growth drivers. The Middle East and Africa are also witnessing incremental adoption of modern formwork solutions due to mega-projects in urban infrastructure. Global exports of formwork materials under HS codes 4410–7616 exceeded USD 5.4 billion in 2023, underscoring robust cross-border trade in construction equipment and components.Formwork market dynamics are significantly influenced by trade policies and regulatory frameworks. Stringent safety standards, including OSHA in the U.S. and EN 13377 in Europe, dictate design, material sourcing, and installation practices, while Asia’s evolving construction codes stimulate the localized production of modular and prefabricated systems. The market is increasingly driven by lightweight, sustainable, and digitally enabled formwork solutions that shorten construction timelines and enhance project safety. Furthermore, rental and service-based models are gaining traction, particularly for large infrastructure and industrial projects, enabling stakeholders to optimize costs while leveraging advanced formwork technologies. Rising adoption of prefabrication, smart construction techniques, and scalable infrastructure development across the Asia-Pacific also presents significant growth opportunities.The competitive environment in the formwork industry is shaped by leading manufacturers such as PERI Group, Doka GmbH, MEVA Formwork, and RMD Kwikform focus on innovation, regulatory compliance, and project-specific solutions, while Tier-2 companies and regional suppliers provide modular systems and mid-scale commercial services. Investment trends for 2024–2025 prioritize automation, eco-friendly materials, and OEM partnerships to integrate high-performance formwork into large-scale projects. Commodity-grade timber and plywood systems are under margin pressure due to fluctuating raw material costs, whereas engineered and automated solutions maintain steady profitability. Additionally, a 4.5% increase in the U.S. construction equipment manufacturing PPI in 2023 reflects rising input and energy costs, impacting global pricing strategies and procurement planning.
Garage Doors
The Garage Doors Market is anchored by accelerating demand across residential, commercial, and industrial construction, with the global garage doors industry valued at USD 7.1 billion in 2024. North America accounts for nearly 41% of global consumption, driven by high replacement cycles, extensive single-family housing with attached garages, and growing preference for automatic garage doors, insulated garage doors, and sectional garage doors. Europe is supported by stringent energy efficiency regulations and the integration of smart garage doors in modern residential and commercial facilities. Asia-Pacific is emerging as the fastest-growing region, propelled by urbanization, expansion of gated communities, and rising adoption of rolling garage doors, overhead garage doors, and garage door openers in China and India. Market expansion is reinforced by rising household disposable incomes, industrial safety standards, and modernization of commercial facilities, while price fluctuations in steel, aluminum, and insulation materials continue to influence supply-side dynamics.Trade policies and regulatory frameworks are critical factors in shaping the Garage Doors Market, influencing cost structures and expansion strategies. Tariffs on steel and aluminum affect landed costs, while regional building safety codes, thermal efficiency standards, and IoT-device compliance are increasingly central to competitive positioning. Garage Doors Market trends highlight adoption of smart garage doors, garage door automation, energy-efficient garage doors, and garage door openers, which enhance performance, efficiency, and operational convenience. Companies leverage localized production, distribution networks, and technology integration to mitigate raw material dependencies and cyclical housing exposure. Expansion is particularly notable in Asia-Pacific, where residential and commercial construction growth drives rising demand, supported by investments in automated and sustainable garage door solutions.The competitive landscape of the Garage Doors industry is dominated by Tier-1 manufacturers such as Overhead Door Corporation, Hörmann, ASSA ABLOY, Clopay, and Ryterna, recognized for brand reputation, advanced designs, and global distribution networks. Tier-2 regional producers focus on mid-range sectional doors and cost-sensitive roll-up models, while OEM suppliers of garage door systems, garage door technology solutions, and smart garage doors strengthen differentiation in next-gen garage solutions. Active M&A and product launches between 2024 and 2025 target automated and energy-efficient doors, aligning with smart city initiatives and energy codes. Investment priorities for the Garage Doors industry from 2025–2032 include smart garage door systems, insulated materials for energy savings, and strategic expansion into Asia-Pacific housing and commercial hubs, ensuring sustainable growth and competitive resilience.
Glazing
Positioned at the intersection of construction, automotive innovation, and sustainable materials, the global glazing market is undergoing a structural transformation. Growth is being fueled by rising adoption of energy-efficient glazing, smart glazing, double glazing, and architectural glazing solutions, with demand supported by residential, commercial, and mobility applications. North America and Western Europe command premium segments through strict energy codes, building regulations, and OEM integration of high-performance glazing systems, while Asia Pacific and Latin America drive volume growth with float glass, laminated glass, and low-emissivity (Low-E) coatings for large-scale urban and infrastructure development. Sustainability-led refurbishment, accelerating automotive production, and next-generation construction projects are advancing the sector, even as manufacturers face supply-side risks tied to volatile raw material costs, energy pricing, and logistics pressures. On the trade front, cross-border demand remains significant, with global exports of glass panels and glazing materials under HS codes 7003–7007 surpassing USD 21.3 billion in 2023.The glazing market is evolving rapidly, shaped by technological innovation, diversification of product portfolios, and the deployment of insulated glass, laminated glass, and advanced glazing solutions. Regulatory frameworks and import-export policies continue to define cost structures and market entry dynamics. The U.S. and EU enforce stringent performance, safety, and sustainability requirements, directly impacting production methods and sourcing strategies. Meanwhile, Asia’s expanding automotive output and urban infrastructure pipeline are driving adoption of curtain wall glazing, structural glazing, and smart glazing technologies at scale. Although energy-intensive production and input price volatility pose risks, opportunities are accelerating in sustainable glazing, digital glazing, and next-gen glazing technologies, attracting strategic capital and OEM collaboration worldwide.The glazing market is anchored by a highly competitive landscape, led by Tier-1 players such as Guardian Glass, Saint-Gobain, AGC Inc., and NSG Group, which dominate through innovation, compliance leadership, and premium offerings. Tier-2 and regional suppliers strengthen the ecosystem with commercial glass solutions, residential glass solutions, and tempered glass systems tailored to diverse applications. OEMs are embedding advanced glazing into vehicles, high-rise towers, and smart infrastructure to secure performance differentiation. Strategic priorities across 2024–2025 include M&A, capacity expansion, and product innovation, with emphasis on energy-efficient coatings, digital glazing, curtain wall glazing, and glazing innovations. While commodity-grade glass continues to face pricing headwinds, architectural glazing and automotive glazing systems deliver stronger margins, evidenced by a 3.9% increase in flat glass manufacturing PPI in 2023. Looking ahead, the glazing industry is set to capture growth opportunities from smart building technologies, electric and autonomous vehicles, scalable production in Asia-Pacific and Latin America, and sustainability-led glazing industry growth initiatives.
Roofing Materials
The global Roofing Materials Market, valued at USD 136.4 billion in 2024, is positioned for stable long-term growth supported by residential roofing demand, commercial roofing expansion, and infrastructure-driven projects. The Roofing Materials Market is led by Asia Pacific, accounting for 46% of global consumption, where urbanization in China and India, affordable housing programs, and the adoption of roof tiles and metal roofing in cost-sensitive markets sustain momentum. In North America and Europe, market growth is anchored in replacement cycles and regulatory-driven demand, boosting adoption of asphalt shingles, green roofing, and advanced roofing systems. On the supply side, volatility in bitumen, steel, clay, and polymers continues to influence cost structures, while tariffs on steel and aluminum imports add price pressures across the value chain.Roofing Materials Market dynamics are being reshaped by trade policies, raw material intensity, and regulatory mandates. Inputs such as asphalt, clay, and metal represent over 65% of total costs, amplifying exposure to commodity price fluctuations. Europe and North America remain hubs for sustainable roofing innovations, driven by strict energy-efficiency standards, fire safety ratings, and climate-resilient construction codes. Meanwhile, Asia Pacific markets remain largely price-sensitive, though gradually moving toward certified green building practices. Trade flows, tariffs, and anti-dumping measures also alter competitive pricing strategies and supply continuity. SWOT analysis highlights consistent replacement demand and the integration of energy-efficient roofing as strengths, offset by raw-material dependencies and cyclical construction exposure. Opportunities are expanding in recyclable composites, smart roofing, and next-gen roofing technology, while risks are tied to cost volatility and housing market slowdowns.The Roofing Materials industry is defined by a competitive structure led by global Tier-1 players such as Owens Corning, GAF Materials, Wienerberger, and Saint-Gobain, leveraging scale, product diversification, and strong distribution. Regional and Tier-2 suppliers remain competitive in clay tiles and corrugated roofing, while OEM suppliers contribute value via roofing coatings, insulation, and waterproof roofing solutions. Competitive strategies are increasingly centered on roofing modernization, with investments in solar-integrated roofing, lightweight composites, and reflective insulation systems aligned to ESG priorities. Looking ahead, investment priorities for 2025–2032 in the Roofing Materials industry will emphasize Asia Pacific capacity expansion, scaling sustainable roofing portfolios, and premium insulated roofing products engineered for long-term performance, efficiency, and regulatory compliance.

Industry definition

The global construction market stood at approximately USD 9.0 trillion in 2024 and is, reflecting a robust CAGR of 5.0% over the forecast period. This growth is anchored in surging infrastructure investments, expanding urban populations, and increasing demand for both residential and commercial developments. Governments worldwide are ramping up spending on smart city initiatives, energy-efficient facilities, and critical public infrastructure, all of which are fueling sustained expansion. Technological advances—such as modular construction, digital project delivery, and innovative building materials are further reinforcing productivity and scaling capabilities across regions. Asia-Pacific leads the regional growth narrative, propelled by rapid urbanization, emerging middle-class housing demand, and large-scale infrastructure projects in countries like China and India. North America follows closely, driven by modernization efforts in transportation, renewable energy, and resilient infrastructure. Europe continues to focus on green building standards and retrofit initiatives, while the Middle East and Africa benefit from mega-projects in energy and tourism infrastructure. In 2025 alone, the market is projected to expand notably, valued at around USD 9.51 trillion, underscoring strong underlying momentum. In this fiercely competitive landscape, key players such as Power Construction Corp. of China, Hochtief, Balfour Beatty, Bouygues, D.R. Horton, and Grupo ACS are setting benchmarks in innovation and execution. Major firms are driving value through digital integration, sustainable construction methods, prefabrication, and public–private project delivery models. Still, challenges persist skilled labor shortages, supply chain volatility, cost inflation, and regulatory complexities continue to exert pressure. Yet, amid these headwinds, opportunities abound in green retrofitting, resilient infrastructure investments, and digitized project management ensuring a forward-leaning outlook for industry leaders.

Chemical and Material