Forecast: Turnover of Building and Decoration Materials in China

The turnover of Building and Decoration Materials in China stood at 4.09 hundred billion yuan in 2023. Between 2013 and 2023, the turnover saw fluctuating growth initially before entering a consistent decline from 2018 onwards. The highest turnover was noted in 2018, after which a downward trend accelerated, leading to a drop to 4.09 hundred billion yuan by 2023. Over the past two years, the year-on-year turnover decreased by 3.45% in 2022 and 3.23% in 2023. The average annual variation over the last five years (CAGR) was -2.83%.

Looking ahead, further declines are forecasted, with turnover expected to fall to 3.43 hundred billion yuan by 2028, reflecting an average annual drop of 2.83% and an overall reduction of 13.36% over the next five years.

Future trends to watch for:

• Economic policies and incentives for the construction and real estate sectors.
• Evolving consumer preferences and the demand for sustainable materials.
• Impact of technological advancements and innovation in building materials.
• Market consolidation and the influence of major industry players.