Forecast: Turnover of Building Material Markets in China

From 2013 to 2023, the turnover of building materials markets in China demonstrated fluctuating trends. Growth peaked in 2014 with a significant year-on-year increase of 16.26%, followed by modest gains and some declines. The market faced contractions in 2016, 2017, and 2019, interspersed with notable rebounds, especially in 2020 (11.44% year-on-year growth) and 2022 (7.26% year-on-year growth). As of 2023, the market attained a value of 2.16 Hundred Billion Yuans Renminbi, marking a 2.09% increase from 2022, with a five-year CAGR of 1.32%.

Looking ahead to 2028, the market is projected to grow steadily, with a forecasted CAGR of 1.5% and an overall growth rate of 7.74% over the five-year period. Future trends to watch for include the impact of regulatory changes, the emphasis on sustainable materials, and shifts in construction activity due to urbanization and infrastructure projects, which will likely drive market dynamics in the coming years.