Building materials and equipment stocks, including cement and asphalt, are also among the most expensive in the industry, according to a new report.
And when it comes to home construction materials, there are plenty of choices, according the report.
The report, from the American Institute of Architects, said that the value of these materials is on the rise, with the cost of building in the U.S. falling slightly in 2016 compared to 2015.
The study estimated that the total value of building materials in the country will reach $2.2 trillion by 2032, with about half of that amount coming from cement.
In contrast, the cost per square foot of cement in the United States is about $2 per square inch, the report said.
The biggest fallers, however, are in the construction industry.
In terms of construction materials and materials used in homes, cement and aluminum are the biggest declines, according.
Other big declines are rubber, plaster, fiberglass, concrete, concrete slabs, glass, and paper.
The number of construction workers will fall over time, too, according, with less than half of workers being employed today, the authors said.
“The building industry has long relied on relatively cheap, low-cost materials, but the value proposition for today’s construction workers has not kept pace with the growth in productivity,” said study co-author Richard Sauter, an assistant professor of economics at New York University.
Sauters report also found that the number of people employed in the manufacturing sector will also drop, with fewer than 3.2 million employed in manufacturing in 2021 compared to 7.6 million in 2020.
And the number working in finance and insurance will also decline.