233 Users Online
Construction Aggregates Market Analysis and Review by Types (Crushed Stones, Manufactured Sand, Natural Sand, Gravel, Recycled Construction Aggregates, Other Construction Aggregates)
Newly-released data on the Construction Aggregates market shows that global sales are expected to reach around US$ 368,327.8 Mn by the end of 2022, registering a Y-o-Y growth of approximately 7.0 %. The market of Construction Aggregates is projected to witness a CAGR of magnitude 4.9 % over the period of 2022 and 2033 on a value basis.
|
Construction Aggregates Market Value (2022A) |
US$ 368,327.8 Mn |
|
Construction Aggregates Market Estimation (2023E) |
US$ 394,476.9 Mn |
|
Construction Aggregates Market Forecast (2033F) |
US$ 636,467.9 Mn |
|
Value CAGR (2023-2033) |
4.9 % |
|
Collective Value Share: Top 3 Countries (2023) |
18.1 % |
Construction aggregates are fundamental parts of composite materials like asphalt and concrete. concrete, are the most mined and finely-grained commodity in the marketplace currently. These materials are created by drilling and blasting natural quantities of limestone, and granite, and trapping rock into smaller pieces. The basic materials for roads, airports, runways, parking lots, and trains are construction aggregates. Additionally, this substance is utilized for soil erosion prevention, filtration, and water purification.
As per the research conducted by Persistence Market Research, the global market of Construction Aggregates consumption across the world is expected to reach a value of US$ 636,467.9 Mn by the end of 2033. East Asia and North America are anticipated to remain key regions in the Construction Aggregates business owing to growing consumption in U.S., India, China, and ASEAN countries, and the region is forecast to expand at a CAGR of 4.9 % during the same period.
FREE Report Sample is Available
In-depth report coverage is now just a few seconds away
Get FREE Report Sample
The market of Construction Aggregates had witnessed about 4.6 % year-over-year growth in the past years. Demand for Construction Aggregates has been consistently increasing due to the rising demand for healthcare infrastructure, and construction of the residential and commercial buildings.
Based on the current estimations, the market of Construction Aggregates is to witness a growth outlook of about 4.9 % over the period of 2033 and 2033. The demand for construction aggregates is rising due to technological advancements in the construction industry
Construction 4.0, a concept that incorporates the use of connectivity for real-time decision-making and simplifying operational management, is the term used to describe this digital revolution of the sector.
The approach has made it possible for employees and construction organizations to implement a digital framework that will help them deal with the present issues facing the sector. The use of Building Information Modelling (BIM) is accelerating digital transformation in the construction industry. BIM aids in project performance improvement, time management, cost planning, waste reduction, and sustainable raw material consumption.
Make This Report Your Own
Take Advantage of Intelligence Tailored to your Business Objective
Get a Customized VersionTechnology advancements in the field of construction are required by the manufacturers of aggregates so they can boost manufacturing process efficiency, resulting in considerable productivity gains and high-quality output.
Additionally, a large number of manufacturers involved in the value chain are enhancing their R&D capabilities in order to develop new manufacturing technologies. In turn, this is promoting the expansion of the world market for construction aggregates.
For instance, Haver & Boecker's "Hydro-Clean" washing device removes harmful substances from aggregates while using about 75% less water than other traditional log washers.
Recently, Metso created a mobile jaw plant for crushing material. By reducing the time needed to set up a new crusher plant, this mobile unit can quickly move between working locations, increasing production.
Despite being inexpensive, transportation of construction aggregates is more expensive because of their weight. About half of the total administrative and logistical expenses for construction aggregates are attributable to transportation.
In addition, the availability of these types of construction materials has been limited by unlawful mining and the global depletion of sand and gravel supplies. Prices of goods have increased as a result of stricter mining regulations in worldwide markets, which may have an effect on the market's growth prospects.
Why Does the U.S. Account for a significant share of the Construction Aggregates market?
Demand for Construction Aggregates is expected to remain prominent in the U.S. and the dominating country in the North American Construction Aggregates market. The country is expected to hold around 7.1 % of the regional market.
According to Statista Research Department, In 2021, the construction industry in the United States had a market size of around 1.6 trillion dollars, and in the following year, more growth was anticipated. Non-residential, Residential, and non-building construction in the United States increased in value overall between 2020 and 2021 by more than 8%.
As private residential building development achieved some of the highest ever recorded levels in 2021, U.S. spending on private construction also increases. Three companies on a list of the 50 largest building contractors in the country generated more than 15 billion dollars in sales in 2020.
What Makes China a Hub for Construction Aggregates Demand?
China is expected to dominate the Asia Pacific as well as the global market for construction aggregates. In 2022, China accounted for over 5.5 % share of the global market.
Rising individual and family incomes, the population shift from rural to urban areas, and the need for residential buildings are all expected to drive up China's demand for construction aggregates.
In addition, China's elderly population is boosting the demand for the building of new hospitals and healthcare facilities, which in turn could support the expansion of the country's construction aggregates market.
The Chinese government has unveiled extensive development plans, including ones that include preparations for the migration of approximately 250 million people to its new megacities over the course of the next 10 years. This will increase the market for construction aggregates in the foreseeable future.
The aforementioned facts with government incentives are contributing to the increasing demand for the construction aggregates market during the forecast period.
Which Application of Construction Aggregates Generates Most of its Revenue?
On the basis of application, the Infrastructure segment accounted for 40.3% market share in 2022. During the forecast period, the infrastructure industry is anticipated to have rapid expansion. Because of expanding infrastructure activities in emerging countries' healthcare, education, energy, and electrical sectors, supported by increased government investment in infrastructure development.
For Instance, according to the Global Infrastructure Hub, G20/GI Hub Framework is based on How to Best Leverage Private Sector Participation to Scale Up Sustainable Infrastructure, which sets out opportunity areas and actions for the G20 to enable the private sector to scale up its investments in sustainable infrastructure.
To build and expand Maafaru International Airport in Noonu, the Maldives, the Ministry of National Planning, Housing, and Infrastructure has signed an agreement with Maldives Transport and Contracting Company PLC (MTCC). Due to all these facts, it is expected that the infrastructure sector creates lucrative opportunities for construction aggregates in the forecast period.
Which Is the Most Preferred Type of Construction Aggregates?
The most preferred type of Construction aggregate is crushed stone. In the global market for Construction Aggregates, the crushed stone type is predicted to have a 39.60 % value share in 2022
Crushed stone will be more widely adopted in the construction industry since it is readily available and affordable. Cement, a crucial binding ingredient in the building industry, is made from crushed stone.
Cement will be used extensively as the housing sector expands in several countries, including India, China, and the United States. Additionally, the market's sales will be boosted by crushed stone's remarkable mechanical qualities and plentiful availability.
Manufacturers are concentrating on distributing their production facilities across regions. Innovation, partnerships, alliances with influential organizations, and the bolstering of local and international distribution networks. For Instance,
|
Attribute |
Details |
|
Forecast Period |
2023-2033 |
|
Historical Data Available for |
2017-2022 |
|
Market Analysis |
|
|
Key Regions Covered |
|
|
Key Countries Covered |
|
|
Key Market Segments Covered |
|
|
Key Companies Profiled |
|
|
Pricing |
Available upon Request |
By Type
By Application
By Region
The global Construction Aggregates market is estimated to be valued at over US$ 394,476.9 Mn as of 2023.
The substantial production volume of Crushed Stones and the increasing production of bio-based products are expected to drive the market in the coming years.
Consumption of Construction Aggregates is projected to increase at 4.9% CAGR during the period of 2023 and 2033 on a volume basis.
China, the U.S., China, India, and Germany are driving most of the demand for Construction Aggregates.
As per Persistence Market Research’s projections, India and China are markets expanding at high CAGRs. China is projected to account for more than two-fifth of the market share through 2033.
According to the Market Research Analysis, HeidelbergCement AG, Martin Marietta Materials Inc., LSR Group, LafargeHolcim Ltd, Cemex SAB de CV ADR, Vulcan Materials Company, CRH plc, Adelaide Brighton Ltd, Eurocement Group and Rogers Group Inc. are identified as Key Players in the Construction Aggregates market.
