Looking ahead, the US masonry market looks set for a strong recovery as the residential and commercial building markets will positively affect industry performance.
The industry has been forecast to increase at a compound annual growth rate (CAGR) of 3.7% over the next five years, to reach a market value of $31.8 billion by 2017.
In 2012, the US masonry market revenue is expected to increase at a CAGR of 3.8, to hit a valuation on $26.6 billion. The industry is expected to gather momentum during the year and outweigh slower growth in demand from commercial builders, particularly from office building developers, which are dealing with high vacancy rates.
Throughout 2012, competitive pressures are expected to ease and profit margins will widen. Profit, as measured by earnings before interest and taxes, is projected to grow from 2.8% of industry revenue in 2012 to 4.5% in 2017.
The US masonry industry currently employs an estimated 262,907 employees, working across 93,899 businesses.
The US masonry industry generates 45% of its annual revenue from work on residential construction, which commonly includes brick work on exterior wall siding and pavements.
A further 32% of industry revenue derives from the laying of masonry and dimension stone on walls, facades and foyers in offices, retail stores and other commercial buildings.
For more information on the US masonry market, see the latest research: US Masonry Market Report
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