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Construction Aggregates Market

Market Study on Construction Aggregates: Demand for Crushed Stones to Rise Faster Than Other Product Types

Construction Aggregates Market by Type (Crushed Stones, Manufactured Sand, Natural Sand, Gravel, Recycled Construction Aggregates, Other Construction Aggregates)

Construction Aggregates Market Outlook (2023 to 2033)

According to Persistence Market Research, the global construction aggregates market showcased impressive performance over the past few years. In 2018, the market reached sales of US$ 310.9 billion, indicating significant demand for construction materials worldwide. This growth trend continued, and by 2022, the market experienced a noteworthy year-on-year increase of 4.3%, reaching a size of US$ 92.4 billion in 2023. This report forecasts worldwide sales of construction aggregates to increase at 6.5% CAGR and reach US$ 738.2 billion by the end of 2033.

Construction aggregate materials are granular, such as crushed stones, sand, and gravel, which find applications in the construction industry. Aggregates are one of the most mined materials in the world. They are resistant to wear and erosion and offer volume stability and other desired physical properties to the finished products.

The market for construction aggregates is poised for remarkable growth, driven by several key factors. One of the primary drivers is the resurgence of the construction industry in developed regions, coupled with the promising growth and opportunities for new construction in developing and emerging economies. This surge in construction activities is paving the way for increased demand for construction aggregates across the globe.

There is growing emphasis on sustainable and eco-friendly construction practices, which is leading to higher adoption of recycled and reclaimed aggregates. Governments and the construction sector are recognizing the importance of environmental concerns and are thus actively contributing to market growth by prioritizing eco-friendly construction raw materials.

Ever-increasing global population, coupled with ongoing migration of people to urban areas, is driving the need for housing, transportation, and infrastructure development. Urbanization is leading to the requirement for construction aggregates as a crucial component in building modern cities and supporting infrastructural projects.

Attribute Details
Construction Aggregates Market Size(2022A) US$ 367.9 Billion
Estimated Market Value (2023E) US$ 392.4 Billion
Projected Market Value (2033F) US$ 738.2 Billion
Value CAGR (2023 to 2033) 6.5%
Collective Value Share of Top Countries (2023E) 61%
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Consumption Analysis of Construction Aggregates (2018 to 2022) vs. Market Forecasts (2023 to 2033)

The global construction aggregates market has exhibited remarkable growth in recent years, with its value increasing from US$ 310.9 billion in 2018 to US$ 367.9 billion in 2022. The market is projected to expand at 6.5% CAGR through 2033.

One of the key factors behind this growth is rapid urbanization and the ever-increasing global population. As more people move to urban areas, demand for new construction projects escalates, encompassing residential and commercial buildings, infrastructure, and transportation systems. Significant growth in the hospitality and tourism industry is foreseen to create ample opportunities for the construction aggregates market over the coming years.

The travel and tourism sector is going through an exemplary shift as tourists across the world demand new and thoughtful experiences. The young population is a fast-growing segment in terms of travel expenditure. Growth of the travel and tourism sector is prompting government investments in infrastructure development across the globe.

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What are the Market Dynamics Influencing the Demand for Construction Aggregates?

“Growth of Construction Sector Driven by Heavy Investments in Infrastructure Projects”

In recent years, investments in mega construction projects have been rising due to support from multiple investors as well as government subsidies. The construction of dams and skyscrapers, metro and bullet train projects, and infrastructure projects like commercial buildings, stadiums, airports, and ports is on the rise. These projects are foreseen to generate significant income and attract tourists’ attention. These projects also address solutions to local issues such as water scarcity, limited connectivity and transportation facilities, and inadequate sports and tourist avenues.

Many countries are actively inviting foreign investments as well as local support for mega-construction projects. This is primarily driving the construction market across the globe.

“Increasing Government Initiatives Supporting Infrastructure Development in Emerging Countries”

Developing countries have progressed at a significant rate as compared to developed regions in the past few years. Developing nations such as India, Brazil, and Mexico are adopting measures and reforms to strengthen their respective economies. Some of the prominent measures in line with this strategy involve those focused on the improvement of infrastructural facilities.

Countries are focusing on implementing measures to liberalize regulations to attract new investors. Such measures are expected to create opportunities for sand and gravel suppliers to expand their footprints in developing countries, which is expected to in turn benefit their businesses.

Rising public-private partnerships to fund new megaprojects and efforts toward the implementation of trade protectionist policies in the United States and Europe have driven other countries to focus on liberalizing their trade policies and strengthening association and trade agreements with several other neighboring countries. This is expected to create avenues for growth and help instill a sense of confidence among investors.

The building materials and construction industry in the United States, European countries, China, and India is anticipated to exhibit significant growth, which is anticipated to create lucrative opportunities for construction aggregate manufacturers. Developing countries must direct their efforts toward strengthening intra-regional trade.

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What are the Challenges Faced by Manufacturers of Construction Aggregates?

“Rising Material Cost and Political Uncertainties Leading to Low Project Funding”

While rising interest rates are likely to have a long-term dampening effect on the construction industry, rising material costs are an immediate concern for the industry. Construction financing continues to be a challenge for many contractors. While domestic and community banks have the cash to lend, many construction firms face difficulty securing finance for their operations. Insufficient flows of money may hamper the growth of construction projects and consequently impede concrete aggregates market growth.

Political uncertainties are primarily responsible for the diminished labor force participating in the construction sector, owing to the low and unpredictable funding for transportation projects, such as highways and rehabilitation and repair work for bridges.

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Country-wise Insights

What is the Growth Projection for the Sales of Construction Aggregates in the United States?

“Substantially Growing Demand for Luxury Housing”

The United States accounts for 70% share of the North and South American market in 2023, and the market in the country is projected to expand at a CAGR of 4.5% during the forecast period.

Growth of the construction industry stems from rapid urbanization, increasing commercial and infrastructure activities, and growing demand for luxury residences. The market is benefiting from favorable economic conditions and increased government spending on infrastructure development.

How is the Market for Construction Aggregates Shaping Up in China?

“Rising Residential and Commercial Construction Projects Driving High Aggregate Production”

In 2023, China is expected to hold a substantial share of the market both in terms of volume and value. Sales of construction aggregates in China are estimated to reach US$ 360.1 billion by the end of the forecast period. The country's expanding construction industry, coupled with the rise of mega projects, serves as the key driving force behind the growth of the market in China.

The construction sector in China is experiencing significant expansion, necessitating large quantities of aggregates, including crushed stones, sand, gravel, rubble, and more, for various residential, commercial, and infrastructure projects. This heightened demand is further fueled by the rapid urbanization occurring within the country, spurred by the remarkable growth of the manufacturing sector.

As China continues to witness impressive developments in construction and urbanization, demand for construction aggregates remains on an upward trajectory, positioning the country as a prominent player in the market.

Category-wise Insights

Which Application of Construction Aggregates is Set to Be the Most Prominent?

“Extensive Usage of Construction Aggregates in Infrastructure and Township Development”

Infrastructure is one of the key segments and is estimated to hold 40% to 45% share of the market. This can be attributed to various factors such as the construction of townships and the development of new infrastructure within the cities like metro stations, airports, expressways, etc., which require a huge amount of construction aggregates. The segment is anticipated to create an absolute dollar opportunity of US$ 156.7 billion over the forecast period.

The industrial segment is anticipated to advance at a CAGR of 6.8% over the forecast period. Increasing industrialization in emerging economies like India, Brazil, South Africa, etc., is contributing to the high demand for crushed stones.

Which Type of Construction Aggregate Accounts for Higher Demand?

“Crushed Stones Widely Demanded Driven by Their Wide Use in Coastal Protection Projects”

Crushed stones hold 39.3% share of the market in 2023. This segment is projected to experience robust growth recording a CAGR of 7.2% over the forecast period and a market share of 42% by 2033.

Rising demand for crushed stones can be attributed to their wide range of applications. One of their primary uses is landscaping for both residential and commercial properties, as crushed stones add an aesthetic appeal to outdoor spaces. Additionally, crushed stones play a crucial role in protecting shorelines from erosion and damage, acting as an essential component in various coastal protection projects.

Crushed stones find extensive use in the construction industry, where they are incorporated into cement and concrete mixtures, enhancing their strength and durability. Their reliable and sturdy properties make them an ideal material for road construction, contributing to the development of well-structured and long-lasting road networks. The versatility of crushed stones makes them an indispensable resource across various industries.

Competitive Landscape

The global construction aggregates market is consolidated given the presence of a few key players holding a considerable market share. Many manufacturers are shifting their focus to the implementation of long-term supply chain connections to achieve continuous improvement of both products and services. Partnerships with reputable vendors enable manufacturers to outsource noncritical activities, decreasing internal workloads while enhancing efficiency.

Manufacturers are also investing in the development of new and innovative sustainable products to penetrate new markets. Key players are focusing on the development of recycled aggregates and manufactured sand.

Construction Aggregates Industry Report Scope

Attribute Details
Forecast Period 2023 to 2033
Historical Data Available for 2018 to 2022
Market Analysis
  • US$ Billion for Value
  • Million Tons for Volume
Key Countries Covered
  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • China
  • Italy
  • France
  • United Kingdom
  • Spain
  • Benelux
  • Nordic Countries
  • Poland
  • Russia
  • Japan
  • South Korea
  • India
  • Australia and New Zealand
  • Gulf Cooperation Council Countries
  • Türkiye
  • South Africa
Key Market Segments Covered
  • Type
  • Application
  • Region
Key Companies Profiled
  • LSR Group
  • Adelaide Brighton Cement
  • Rogers Group Inc.
  • Martin Marietta Materials, Inc.
  • Heidelberg Materials
  • Taiheiyo Cement Corporation
  • Breedon Group PLC
  • Holcim
  • Vulcan Materials Company
  • Eurocement Group
Report Coverage
  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • Drivers
  • Restraints
  • Opportunity Analysis
  • Challenges
  • Strategic Growth Initiatives
Customization and Pricing Available upon Request

Construction Aggregates Industry Research Segmentation

By Type:

  • Crushed Stones
  • Manufactured Sand
  • Natural Sand
  • Gravel
  • Recycled Aggregates
  • Other Aggregates

By Application:

  • Commercial
  • Residential
  • Industrial
  • Infrastructure

By Region:

  • North America
  • South America
  • Northern Europe
  • South and West Europe
  • Commonwealth of Independent States and Eastern Europe
  • Australia & New Zealand
  • Middle East
  • Africa
  • India
  • China
  • Rest of Asia Pacific

- Companies Covered in This Report -

  • LSR Group
  • Adelaide Brighton Cement.
  • Rogers Group Inc.
  • Martin Marietta Materials, Inc.
  • Heidelberg Materials
  • Taiheiyo Cement Corporation
  • Breedon Group plc
  • Holicim
  • Vulcan Materials Company
  • Ducon Industries
  • PPC
  • InterCement

- Frequently Asked Questions -

The global construction aggregates market stood at US$ 367.9 billion in 2022.

Demand for construction aggregates rose at a CAGR of 4.3% from 2018 to 2022.

Sales of construction aggregates are estimated to be US$ 392.4 billion in 2023.

Crushed stones account for a dominant 39.3% share of the market in 2023.

The market for construction aggregates is projected to reach US$ 738.2 billion by the end of 2033.

The global market is projected to expand at a CAGR of 6.5% from 2023 to 2033.

Utilization of construction aggregates in infrastructure projects is projected to increase significantly over the decade.

CEMEX S.A.B. de C.V., HeidelbergCement AG, LSR Group, LafargeHolcim Ltd, and CRH plc are prominent suppliers of construction aggregates.

Consumption of construction aggregates in North America is forecasted to increase at 6.9% CAGR through 2033.

The U.S., Germany, Russia, China, and India are leading producers of construction aggregates.

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