Considering the demand for building materials across widespread verticals and the companies in this space enjoying stable profit margins, let’s check out fundamentally strong stocks that are gaining momentum: Griffon Corporation (GFF – Get Rating), Apogee Enterprises, Inc. (APOG – Get Rating) and Holcim Ltd (HCMLY – Get Rating). But first, let’s understand the industry landscape better.
As a testament to the construction industry’s resilience, jobs in the U.S. construction sector in August grew nearly 3% or by 212,000 on a year-over-year basis. On a month-over-month basis, the industry added a net 22,000 jobs compared to the previous month.
Moreover, due to the adoption of green building techniques, the dynamics of the industry have changed a lot. The U.S. green building materials market is expected to grow at a CAGR of 10.9% between 2023 and 2033, while the global industry CAGR is expected to be 11.2%, with the market estimated to reach $962 billion by 2033.
The global construction industry has witnessed significant growth in recent years due to increased infrastructure spending, rising demand for residential properties, and the adoption of new technologies and sustainable building practices. The global construction materials market is expected to expand from $1.32 trillion in 2023 to $1.73 trillion by 2030, exhibiting a CAGR of 3.9%.
Looking at the conducive trends of the Industrial – Building Materials industry, let’s start dissecting the fundamentals of the stocks mentioned above, starting with…
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