Building Materials
Encompasses the extraction, manufacturing, and distribution of raw materials like aggregates, cement, and roofing used in construction and infrastructure projects.
Why it exists
Building materials provide the physical inputs for shelter and infrastructure—concrete, cement, aggregates, asphalt, insulation, etc.
Why it’s necessary
You can’t scale cities, roads, bridges, or housing without bulk materials. They’re the backbone of construction and urbanization.
Key components
Cement & clinker
Aggregates: sand, gravel, crushed stone
Ready-mix concrete & asphalt
Insulation, drywall, related products
Local logistics (quarries, concrete plants, trucking)
How to evaluate businesses
This is a hyper-local, heavy, low-value-per-ton business. Evaluate local market structure (how many competitors within haul radius), logistics advantages, plant utilization, pricing discipline, and exposure to public vs. private construction cycles. Look at margins through the cycle, ability to pass through energy costs, and capital discipline.
How the industry could be improved
Decarbonizing cement and concrete, using alternative binders and recycled aggregates. Digitizing ordering, dispatch, and quality control. Dynamic pricing tied to project timelines. Better integration with construction planning software to reduce waste and idle time on job sites.
Anything to add?