Forecast: Turnover of Retail of Building Material Markets in China

The turnover of the retail building material markets in China has shown significant variability over the past decade. After a sharp increase between 2013 and 2015, the market experienced fluctuations, peaking in 2020 with a value of ¥3,121.9 billion YRMB. However, from 2021 onward, the market has consistently declined, with a -6.27% year-on-year fall in 2023 and standing at ¥1,918.5 billion YRMB. The Compound Annual Growth Rate (CAGR) over the past five years has been negative, at -8.45%.

Future forecasts predict a continued downward trend, with the market expected to decline by -19.97% over the next five years, resulting in a forecasted value of ¥1,442.7 billion YRMB by 2028. Analysts foresee a -4.36% CAGR for the forecast period.

Future trends to watch for include shifts in consumer preferences towards sustainable and eco-friendly building materials, potential government policies aimed at stimulating the construction sector, and the impact of economic fluctuations and real estate market dynamics on building material sales.