Building Finishing Contractors Global Market Report 2024

The building finishing contractors market size has grown strongly in recent years. It will grow from $1,394.81 billion in 2023 to $1,487.57 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth observed in the historic period can be attributed to the expansion of the construction industry, real estate development, urbanization and infrastructure projects, building renovations, and architectural and design trends.

The building finishing contractors market size is expected to see strong growth in the next few years. It will grow to $1,971.51 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth anticipated in the forecast period can be attributed to a focus on sustainability and green building practices, integration of smart building technologies, adherence to health and safety standards, improving infrastructure resilience, accommodating population growth, and housing needs. Major trends in the forecast period include the use of sustainable finishing materials, integration of smart home technologies, the incorporation of biophilic design elements, the adoption of modular and prefabricated finishing solutions, and a growing emphasis on adaptive reuse of existing structures.

The increasing elderly population in most countries is driving the demand for infrastructure that caters to their needs. For example, according to the World Health Organization (WHO), the number of people aged 80 and older is projected to triple, reaching 426 million by 2050, and the number of people aged 60 and over will double to 2.1 billion by the same year. This demographic shift necessitates the adaptation of homes and their surroundings to enhance safety and inclusivity for the elderly. Local shops and town centers must become more accessible to accommodate the elderly population, and public transport facilities need to be revamped to meet their increased demand. Consequently, there will be a growing demand for building finishing contractors' services during the forecast period.

The primary categories of building finishing contractors include drywall and insulation contractors, painting and wall-covering contractors, flooring contractors, tile and terrazzo contractors, finish carpentry contractors, and other building finishing contractors. Drywall and insulation contractors are experts in drywall, plaster, and building insulation. Building finishing services are offered by both large chain companies and independent contractors, and they can be accessed through various modes, including online and offline. Building finishing contractors are involved in a wide range of applications, including residential construction, non-residential building construction, utility system construction, and other areas.,,,

The building finishing contractors market research report is one of a series of new reports that provides building finishing contractors market statistics, including building finishing contractors industry global market size, regional shares, competitors with a building finishing contractors market share, detailed building finishing contractors market segments, market trends and opportunities, and any further data you may need to thrive in the building finishing contractors industry. This building finishing contractors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The expansion of the construction industry is anticipated to drive the growth of the building finishing contractor market in the coming years. The construction industry encompasses activities related to the planning, design, and physical construction of various structures, including buildings and infrastructure, to meet societal and commercial needs. Building finishing contractors play a crucial role in the construction process, providing a wide range of services essential for project completion. These services encompass tasks such as interior and exterior painting, flooring installation, drywall installation, roofing, insulation, plumbing, and electrical work. For example, in February 2023, the Office for National Statistics reported a 5.6% increase in annual construction output in the UK in 2022 compared to 2021, following a record 12.8% increase in 2021. Hence, the growth in the construction industry is a driving force behind the building finishing contractor market.

Health and safety concerns have long been a significant issue in the building finishing contractor industry. Construction activities inherently carry risks to worker safety, including tasks performed at elevated heights, work in confined spaces, operations in underground environments, close proximity to falling materials, manual handling of heavy loads, exposure to hazardous substances, operation of machinery and equipment, fire hazards, and potential exposure to live electrical cables. For instance, data from '25 Construction Safety Statistics for 2021' reveals that while the American construction industry employs only 6% of the U.S. workforce, it experiences approximately 20% of all workplace fatalities, the highest fatality rate compared to any other industry. Insufficient safety and health measures have a detrimental impact on both the construction and the resulting built environments, leading to fatalities, injuries, and illnesses.

Predictive analytics is assuming a significant role in the building finishing contractor market, streamlining risk management, financial resource allocation, and budgeting. Predictive analytics is a technique used to process vast datasets, extracting actionable insights and behavioral patterns. The software analyzes data gathered from subcontractors, materials suppliers, and design plans to assess and mitigate risk factors. Predictive analytics enables project managers to anticipate and mitigate issues related to labor and equipment availability, collect and predict weather data, and proactively address changing weather conditions to prevent material and labor cost overruns. Building finishing contractors employ various software tools for these purposes, including GanttPRO, Acculynx, Jonas Premier, CoConstruct, Buildertrend, Knowify, Procore, PlanGrid, ProCOntractor, and BIM 360.

Prominent companies in the building finishing contractor market are embracing innovation by developing digital platforms for building materials to optimize procurement processes, improve project efficiency, and maintain their competitive edge. One such solution is the Building Material Platform app, designed to simplify construction material sourcing and management for contractors and builders. As an example, in April 2023, Mistry.Store, an India-based building material platform, introduced a dedicated app for home-building professionals, including architects, designers, and contractors. The app, available on both Android and iOS, offers professionals a streamlined experience, granting access to Mistry's extensive product catalog, a simplified order placement and delivery system, expense and project management tools, and a dashboard for monitoring earnings and transactions.

Major companies operating in the building finishing contractors market include Fletcher Building Ltd., NCI Building Systems Inc., Interserve PLC, APi Group Inc., Performance Contracting Group Inc., Cleveland Construction Inc., Irex Corp of Lancaster, Sherwin-Williams Company, Pittsburgh Plate Glass Industries, Inc., RPM International Inc., The Valspar Corporation, Benjamin Moore & Co., Behr Process Corporation, Rust-Oleum Corporation, Akzo Nobel N.V., Axalta Coating Systems Ltd., Badische Anilin und Soda-Fabrik SE, The Dow Chemical Company, DuPont de Nemours, Inc., Eastman Chemical Company, 3M Company, Avery Dennison Corporation, Bostik SA, Data Acquisition and Processing Products Inc., Franklin International Inc., H.B. Fuller Company, Henkel AG & Co. KGaA, Illinois Tool Works Inc., ITW Performance Polymers & Fluids, Kansai Paint Co. Ltd., Nippon Paint Holdings Co. Ltd., Pidilite Industries Ltd., Sika AG, United States Gypsum Corporation, Armstrong World Industries Inc., CertainTeed Corporation, Georgia-Pacific LLC.

Asia-Pacific was the largest region in the building finishing contractors market in 2023. Western Europe was the second-largest region in the building finishing contractors market. The regions covered in the building finishing contractors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the building finishing contractors market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa

The building finishing contractors market includes revenues earned by entities by drywall and insulation contractors, painting and wall covering contractors, flooring contractors, tile and terrazzo contractors, finish carpentry contractors, and other building finishing contractors. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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