The construction materials market has witnessed sustained incremental growth over the years. This can be attributed to favourable economic conditions in numerous countries. The construction industry is anticipated to witness acceleration in large public infrastructural programs, which is expected to create public-private partnership opportunities.
Moreover, increase in healthcare expenditure is expected to fuel the renovation of healthcare facilities, which simultaneously is expected to drive an increase in the demand for construction materials over the forecast period (2020-2030). Spending on educational and schools institutions is also estimated to aid the expansion of the construction aggregates market size.
Increasing Infrastructure Investments in Asia Pacific, North America, and Europe
Growth of the construction aggregates market is mainly driven by the development of large-scale infrastructural projects in developing economies of Asia Pacific, and North America and Europe. Governments of major economies are concentrating on the development of transportation facilities and strengthening their energy (power generation) infrastructure.
High Transportation Costs of Construction Aggregates
Although construction aggregates are low-cost materials, their transportation cost is high due to their heaviness. This is a restraint for the growth of the construction aggregates market. Transportation costs amount to around 50% of the overall administration and logistics cost incurred on construction aggregates
Construction Aggregates Market: Structure Analysis
Major companies in the construction aggregates market are focusing on strategic mergers and acquisitions, intending to expand their global footprints as well as product portfolios. Leading companies in the market are focusing on selling non-core assets and facilities to generate the capital required to reduce debts.
Several prominent suppliers are involved in the global construction aggregates market, such as HeidelbergCement AG, Martin Marietta Materials Inc., LSR Group, LafargeHolcim Ltd., Cemex SAB de CV ADR, Eurocement Group, and others.
COVID-19 Impact on Construction Aggregates Market
Globally, the construction aggregates market is estimated to witness declining growth in 2020, but is expected to rebound in the first half of 2021. The COVID-19 pandemic is having an adverse effect on the construction sector in the short-term. In order to combat the virus spread, globally, construction sites are being shut for the time being. Post-2020, the market is expected to experience steady growth of around 7% in terms of value. Furthermore, China and India are expected to hold around half of the market share in the construction aggregates market, and are expected to continue their dominance in the coming assessment period.
The global construction aggregates market is set to experience steady growth of around 7% through 2030, mainly backed by increasing infrastructure activities in the healthcare, education, energy, and power sectors. Players in the construction aggregates market space can look to China and India, which will hold around half of the market share over the next decade.
Construction Aggregates Market – Report Scope
Persistence Market Research (PMR) recently published a study report on the global construction aggregates market. The report provides detailed valuation on key market dynamics, such as the drivers, trends, opportunities, and restraints, along with detailed information about the construction aggregates market structure. This market research report presents exclusive facts and figures about how the construction aggregates market will grow over the forecast period of 2020 to 2030.
Key indicators of market growth, such as value chain analysis, compounded annual growth rate (CAGR), and year-on-year (Y-o-Y) growth of the market are explained in PMR’s study in a comprehensive manner. This information can help readers understand the quantitative development projections of the construction aggregates market over the forecast period.
The study is relevant for stakeholders in the construction aggregates market, as well as manufacturers, distributors, suppliers, and investors, as it can help them understand applicable strategies to grow in the market. Stakeholders, investors, industry experts, researchers, and journalists, as well as business researchers in the construction aggregates market can leverage the information and statistics presented in PMR’s research report.
The report includes facts and figures related to the macro- as well as macro-economic factors that are impacting the growth of the construction aggregates market. The study also offers actionable insights based on the future trends in the construction aggregates market. Furthermore, regional players and new entrants in the construction aggregates market can also use the information presented in this report to make business decisions and gain momentum in the market.
Key Segments of Construction Aggregates Market
PMR’s study on the construction aggregates market is divided into three significant segments - type, application, and region. This report offers comprehensive data and information about important market dynamics and growth parameters related to these categories.
Key Questions Answered in PMR’s Construction Aggregates Market Report
Construction Aggregates Market: Research Methodology
In PMR’s research report, an exclusive research methodology is utilized to conduct comprehensive research on the development of the construction aggregates market, and reach conclusions on the future growth factors of the market. In this research methodology, secondary and primary research is utilized by analysts to ensure precision and reliability of the conclusions.
Secondary resources are referred to by analysts during the evaluation of the construction aggregates market, which comprises facts and figures from the World Bank, OEM websites, government websites, white papers, trade journals, and external and internal databases. Analysts have thoroughly interviewed several industry experts, such as sales supervisors, sales operation managers, product portfolio managers, senior managers, market intelligence managers, marketing/product managers, and production managers to provide insightful information.
Comprehensive information acquired from primary and secondary resources is validated from companies operating in the market, to make PMR’s projections on the growth prospects of the construction aggregates market more accurate and reliable.