Construction Aggregates Market By Product Type (Crushed Stone, Sand, Gravel, and Other Aggregates), By Application (Commercial, Residential, Industrial, and Infrastructure) and Region - Global Forecast to 2028
find_in_page Our Research Methodology is based on the following main points:
- Data Collections and Interpretation
- Data Validation
- Final Projections and Conclusion
The global construction aggregates market is estimated to value at nearly US$ 393.5 Bn in 2019, and is expected to register a CAGR of 6.7%. The global construction aggregates market is segmented on the basis of product type, application, and region.
Global Construction Aggregates Market: Introduction
Construction aggregate is a grained particulate material used in building and construction, these materials are mixed with cement, bitumen, lime, gypsum, or other adhesive to form concrete or mortar. The aggregate gives volume, stability, resistance to wear or erosion, and other desired the physical properties to finished product. Commonly used aggregates include sand, gravel, crushed stone, broken blast-furnace slag, boiler ashes, burned shale, burned clay, recycled concrete, and geosynthetic aggregates.
Global Construction Aggregates Market: Dynamics
Major factors driving growth of the global market are increasing demand for construction aggregate material, increasing activities in infrastructure and demand gains for crushed stone and alternative aggregates such as recycled concrete, fly ash and slag. In addition, innovation in the construction sector, rising tourism activities, and rapidly increasing residential sector are some other factors expected to support growth of the global construction aggregates market to a significant extent. Moreover, changing lifestyle, a rising number of government initiatives and PPP models related to construction are some factors expected to support growth of the target market over the forecast period.
Furthermore, increasing demand for green initiatives in order to reduce overall energy consumption and greenhouse emissions, coupled with growing popularity among consumers regarding recycled aggregate are major factors expected to drive growth of the target market over the forecast period. Significant efforts and practices are being taken by the government in countries such as the US, the Netherlands, and Germany for reducing, reusing, and recycling construction waste. Moreover, new standards for recycling and reuse of construction and demolition waste has further created growth opportunities for the recycled construction aggregates.
Major key players are focusing on mergers & acquisitions, joint ventures, and expansion of plants and facilities to offer construction aggregates and to strengthen market presence and create revenue growth opportunities. In October 2016 for instance, Heidelbergcement Ag completed the acquisition of Italcementi S.p.A, which is an Italian company – produces and sells cement and clinker, ready mixed concrete, and aggregates. This acquisition was aimed at strengthening the company’s position in the global market and increasing innovation capabilities.
However, rising concerns regarding environmental safety and security are expected to further hamper growth of the target market.
Global Construction Aggregates Market Analysis, by Product Type
Among the product type segments, the sand segment is expected to contribute major revenue share, and is expected to maintain its dominance over the forecast period, and is expected to register highest CAGR of over 6.9%, owing to increasing demand for construction materials is also resulting in increasing activities in infrastructure and renovation sectors.
Global Construction Aggregates Market Analysis, by Application
Among the application segments, the infrastructure segment in the global construction aggregates market is estimated to account for major revenue share in 2017, and is expected to register highest CAGR of over 7%.
Global Construction Aggregates Market Analysis, by Region
The global market for construction aggregates is said to expand at more than 6.7% rate of growth. The recent drastic declines in the market of aggregates from 2007 to 2012 are expected to rebound sharply in North America and Europe. However, North America and Europe is expected to show faster growth with an aim and focus at commercial, residential, industrial and public work construction activities.
The European Commission is focusing on introducing new guidelines, protocols, and plans for construction and demolition waste management. In 2018, according to the European Commission, construction and demolition waste account for nearly 25%-30% of the waste generated in the EU.
North America is witnessing increasing usage of recycled construction aggregates in road construction. Moreover, government focusing on adopting recycled asphalt pavement in the road construction.
- The US Geological Survey (USGS) estimates that, during the years 2008 through 2014, California ranked first among the 50 states in recycling asphaltic concrete and first or second in recycling Portland cement concrete
- Construction sand and gravel valued at US$8.9 Bn was produced by an estimated 4,100 companies and government agencies from about 6,300 operations in 50 States. Leading producing States were, in order of decreasing tonnage, Texas, California, Michigan, Minnesota, Utah, Washington, New York, Arizona, Ohio, and Colorado, which together accounted for about 55% of total output. It is estimated that about 44% of construction sand and gravel was used as concrete aggregates
The market in Asia Pacific is expected to dominate in the global construction aggregates market and is expected to continue its dominance over the forecast period. Increasing investments by government and private-public partnership for infrastructure development in emerging economies are some of the major factor driving growth of the construction aggregates market in Asia Pacific. In addition, rapidly growing commercial buildings and construction sectors in India and China are expected to drive the market in the Asia Pacific region. ASEAN countries including Indonesia, the Philippines, and Malaysia offer significant potential opportunities for major players, owing to increasing infrastructural developments in the countries.
- According to report ‘Global Construction 2030’, published by Global Construction Perspectives and Oxford Economics, the worldwide construction output is expected to reach US $ 15.5 trillion by 2030, with the US, China, and India accounting 57% of global growth
- According to Research Institute of Construction and Economy, Japan’s construction investment in 2016 was around US$ 476.5 Bn, which includes US$ 191.5 Bn from government sector, and US$ 285.0 Bn from the private sector. Moreover, government has announced plans to spend JPY6.5 trillion (US$ 53.7 Bn) between 2016 and 2021 to upgrade infrastructure affected by natural disaster in Northern Japan
Global Construction Aggregates Market Segmentation:
Global Construction Aggregates Market Segmentation, by Product Type:
- Crushed stone
- Other aggregates
Global Construction Aggregates Market Segmentation, by Application:
Global Construction Aggregates Market Segmentation, by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Heidelberg Cement AG.
- Martin Marietta Materials, Inc.
- LSR Group PJSC.
- LafargeHolcim Ltd.
- CEMEX S.A.B. de C.V.
- Vulcan Materials Company
- CRH plc.
- EUROCEMENT Holding AG.
- ADELAIDE BRIGHTON LTD.
- 1. Chapter 1
- 1.1. Preface
- 1.2. Assumptions
- 1.3. Abbreviations
- 2. Chapter 2
- 2.1. Report Description
- 2.1.1. Market Definition and Scope
- 2.2. Executive Summary
- 2.2.1. Market Snapshot, By Type
- 2.2.2. Market Snapshot, By Application
- 2.2.3. Market Snapshot, By Region
- 2.2.4. Prudour Opportunity Map Analysis
- 2.1. Report Description
- 3. Chapter 3
- 1. Chapter 1
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