The global faucet market is projected to grow from USD 23.27 billion in 2025 to USD 31.03 billion by 2030, reflecting a steady CAGR of 5.93%, driven by urban housing upgrades, hospitality expansion and rising sustainability standards. Advances in touchless and disc-valve technology, along with the use of stainless steel and water-efficient designs, are reshaping performance and pricing trends. Governments tightening water-use regulations and promoting eco-labels are pushing manufacturers toward innovation and sustainability. Meanwhile, the surge in online retail and direct-to-consumer sales is transforming buying behavior, enhancing transparency and increasing…
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Construction Materials Market Outlook Report 2025-2030
The global construction and building materials market is experiencing rapid transformation driven by urbanization, sustainability goals and advancements in digital technology. Valued at $2.04 trillion in 2024 and projected to reach $2.89 trillion by 2030, the market’s growth reflects rising demand for innovative, low-emission materials and efficient building techniques. As cities expand and environmental regulations tighten, builders and manufacturers are prioritizing materials that balance performance with sustainability. This evolution underscores the need for industry leaders to adapt to new economic, technological and regulatory conditions shaping construction worldwide. Innovation and technology…
Read MoreBest-Paying States for Women in Construction
Following the COVID-19 pandemic, the U.S. construction industry saw a surge in activity driven by strong housing demand and infrastructure investment. Between 2020 and 2022, private construction spending soared as new housing starts reached their highest levels in over 15 years before cooling off due to rising mortgage rates. As private activity slowed, public-sector construction spending grew, supported by the Bipartisan Infrastructure Law. However, the industry now faces uncertainty from high interest rates, import tariffs and a softening labor market. Labor shortages remain a critical issue, with an estimated 439,000…
Read MoreConstruction Materials Market to Cross USD 3.90 Trillion by 2034
The global building and construction materials market, valued at USD 2.19 trillion in 2024, is projected to reach USD 3.90 trillion by 2034 at a compound annual growth rate of 5.95%. Growth is being propelled by accelerating urbanization and infrastructure expansion worldwide. The market encompasses traditional materials such as concrete, steel and cement alongside emerging sustainable alternatives like engineered wood, recycled composites and low-emission cement. Government initiatives promoting energy efficiency and environmental responsibility are reshaping industry standards, while digital technologies, including AI, BIM and modular construction, are improving project efficiency…
Read MoreRefinancing Applications Increased Amid Fed Rate Cut
Following the Fed’s rate cut, mortgage and refinancing applications are up week-over-week. Compared to last week, mortgage applications have increased by 29.7% and the Mortgage Bankers Association’s Refinance Index reports a 58% increase. With mortgage rates at their lowest since last October, refinancing applications have jumped to take advantage of the lower rates. In anticipation of the rate cut leading up to the Federal Reserve meeting, homeowners were already jumping to refinance. Through this influx of newly refinanced mortgages, contractors can expect increased remodeling activity to begin shortly. With the…
Read MoreHome Improvement Originations Surge Despite Weak Outlook
Although suffering a dip from the previous quarter, home improvement loan originations have increased over 35% year-over-year to over $3.5 billion, signaling a strong demand for home remodeling and renovations. Datasets from the Joint Center for Housing Studies at Harvard University and the National Association of Homebuilders point to signs that remodeling activity is softening, but the increase in home improvement loan originations demonstrates that remodeling activity fares well, especially as many are likely to finance through home-equity lines of credit. Remodelers are mostly positive while some see activity slowing…
Read MoreSurveys offer glimpse into home remodeling, improvement sentiment
Staying up to date with consumer interest is of vital importance in the remodeling industry, and luckily the National Association of Homebuilders (NAHB) and the Joint Center for Housing Studies (JCHS) at Harvard University have released surveys that detail what statistically receives the most attention from homeowners pursuing renovations. NAHB survey results found a slight decrease in measures from the first quarter, especially in the western part of the country despite an overall positive sentiment among the remodeling market. Directors at Harvard’s Remodeling Futures Program also pitched in their views…
Read MoreNumber of Remodeling Firms Outpaces Single-Family Builders in U.S.
An increase in the number of residential remodelers between 2017 and 2022 of 25% has widened the gap between how many remodelers there are compared to how many residential builders, according to data from the National Association of Home Builders. Further analysis seems to support that the pandemic played a role in the increase of the remodel market as a report from Harvard’s Joint Center for Housing Studies demonstrated a dramatic rise in remodeling spending that remained above $600 billion despite leveling out after 2022. Nevertheless, some data from the…
Read MoreHomebuilders are slashing prices at the highest rate in three years
In response to the weakening demand from homebuyers in the current economy, 38% of homebuilders said they cut prices in the month of July. Alongside builders buying down mortgage rates, the average price reduction has steadily dropped since November as higher interest rates and poor affordability dampened the housing market through the first half of 2025. Nevertheless, confidence has momentarily rebounded thanks to the budget bill passed earlier this month, leaving it up to builders to take initiative in creatively maneuvering through a difficult market. Read More
Read MoreConstruction Materials Market Fueled by Booming Residential and Commercial Construction
Investments in both residential and commercial buildings are expected to bolster the market. The global construction materials market is expected to have a compound annual growth rate (CAGR) of 6.7% from 2025 to 2032 to a valuation of USD 2.45 trillion, up from the current estimated USD 1.57 trillion. Residential construction accounts for a global market share of 43.9% of construction materials usage, making it an especially desirable field as green building trends and sustainable practices mold the trajectory of the industry towards a higher market value. Read More
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