The State of the Economy

Construction Material Market Set to Reach $ 1.2 Trillion by 2027

North America is arguably one of the largest global construction markets due in large part because it imports enormous volumes of construction materials. To that end, the construction materials market in the U. S. has been experiencing steady growth due to a robust demand in both the residential and nonresidential construction sectors. By 2027, the market value is projected to reach $ 1.2 trillion, showcasing a compound annual growth rate of 4.5 % between 2023 and 2027.