Construction Aggregates Market Industry Overview, Growth Impact and Demand
Posted by anagha on May 24th, 2019
Construction aggregates are inert granular material such as gravel, sand, and crushed stones, which are used with a binding medium such as lime, water and portland cement, and others to form compound materials such as concrete and asphalt concrete. Growing infrastructural and residential sectors are expected to drive growth of the construction aggregates market over the forecast period. According to the office for National Statistics, the value of construction new work was US$ 114,977.3 million and is expected to grow continuously, owing to growing private sector.
Among product type, the crushed stones segment is expected to account for a significant market share over the forecast period. According to U.S. Department of the Interior, U.S. Geological Survey, in U.S., the total of 1.33 billion metric tons of crushed stones was produced for consumption in 2015.
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Among end-use industry, the residential segment is expected to account for a significant revenue share over the forecast period. This is attributed to growing residential construction. According United States Census, the value of residential construction was US$ 560,088 million.
Asia Pacific is the fastest growing region in the global construction aggregates market, owing to increasing construction market in emerging economies such as India and China. According to India Brand Equity Foundation (IBEF), India is expected to become third largest construction market by 2025, globally. Also, India, U.S., and China are expected to account for around 60% of all global growth in the sector by 2025.
North America is expected to account for significant market share in the global construction aggregates market, in terms of revenue over the forecast period. Increasing demand for recycled aggregates coupled with growing investment in constructional activities is fueling growth of the construction aggregates market. According to United States Census Bureau, the U.S. spends over US$ 1 trillion on infrastructure construction annually.
Europe held substantial market share in 2017, in the global construction aggregates market. Aggregates are extracted in larger quantities in European countries such as U.K. as compared to other minerals, which is fueling growth of the construction aggregates market in this region. According to the Office for National Statistics, primary aggregates, which are produced from naturally occurring mineral deposits, accounted for around 55% in 2009.
The construction aggregates market was valued at US$ 358.80 Bn in 2016 and is expected to expand at a CAGR of 6.3%, in terms of revenue, during 2017 – 2025.
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Major Players in the Global Construction Aggregates Market
Some of the key players operating in the global construction aggregates market include Vulcan Materials Company, PJSC LSR Group, Heidelberg Cement AG, LafargeHolcim Ltd, Martin Marietta Materials, Inc., CEMEX S.A.B. de C.V., Eurocement Holding AG, CRH plc., Adelaide Brighton Cement Ltd., and Rogers Group Inc.
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About the Authoranagha
Joined: July 22nd, 2017
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