Construction Aggregates Market to Grow from $375.3 Billion in 2021 to $667.8 Billion by 2032, with a CAGR of 5.2%

The global construction aggregates market, valued at $375.3 billion in 2021, is projected to reach $667.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.2% from 2023 to 2032.

Construction aggregates, including crushed stone and sand & gravel, are the most mined granular materials globally and serve as essential components in composite materials like concrete and asphalt. Extracted from natural deposits such as granite, limestone, and other rocks through drilling and blasting, aggregates are critical for infrastructure projects, including highways, airport runways, railroads, and parking lots. They also play a vital role in water filtration, purification, and soil erosion control. As natural sand supplies dwindle, construction aggregates have become a key solution to address infrastructure demands, supporting residential, commercial, industrial, and housing development projects amidst concerns over natural resource depletion.

Download PDF Sample Copy@ https://www.alliedmarketresearch.com/request-sample/A07987

Market Dynamics
The construction aggregates market is driven by rapid urbanization and industrialization worldwide, which fuel the construction industry and, consequently, the demand for aggregates. The United Nations projects the global population will reach 9.7 billion by 2050, an increase of 1.7 billion from 2023, leading to overcrowded cities and necessitating new residential and commercial buildings. According to the World Bank, global Built-Up Areas (BUAs) grew from 794,432 in 2016 to an estimated 849,407 by 2022. Major projects, such as the planned American Dream Mall by Triple Five Group near Everglades National Park in Florida, highlight the rising demand for aggregates in commercial construction. Infrastructure investments, particularly in the U.S., further propel market growth. The U.S. Bipartisan Infrastructure Law, passed in November 2021, allocated $110 billion for road, bridge, and other major projects, while total public and private investment in U.S. road infrastructure is projected to reach $3.42 trillion between 2016 and 2040. Additionally, innovations in construction techniques and growing tourism activities contribute to market expansion.

However, high transportation costs pose a significant challenge, accounting for approximately 50% of the administrative costs of aggregates due to the distance between mining sites and construction locations. These costs are expected to restrain market growth during the forecast period. The COVID-19 pandemic also disrupted the market, with global lockdowns reducing construction activities and aggregate demand. Although the market began recovering in 2023, rising global inflation, driven by the Ukraine-Russia conflict and lingering pandemic effects, has introduced price volatility for aggregates and increased oil and gas costs, further elevating transportation expenses. Inflation has also raised interest rates, discouraging new construction projects. However, markets in India and China have remained resilient, with no significant decline in aggregate demand. A potential peace agreement between Ukraine and Russia could reduce inflation and stabilize the market in the future.

Technological innovations offer significant growth opportunities. Advanced production technologies, such as the Hydro-Clean washing unit by Haver & Boecker, improve efficiency by cleaning toxic materials and reducing water consumption by up to 75% compared to traditional methods. The adoption of Building Information Modeling (BIM) enhances time management, cost planning, and sustainability by optimizing raw material use and reducing waste, further driving market growth.

Market Segmentation
The construction aggregates market is segmented by type, application, transportation mode, and region.

By Type
The market is divided into crushed stone and sand & gravel. In 2022, the sand & gravel segment dominated in revenue due to its critical role in applications like concrete production, sand-blasting, and water filtration. However, the crushed stone segment is expected to grow at a higher CAGR, driven by increasing demand in roadway construction and concrete manufacturing, particularly in developing countries.

Enquire Before Buying@ https://www.alliedmarketresearch.com/purchase-enquiry/A07987

By Application
The market is categorized into residential and non-residential segments. In 2022, the non-residential segment led in revenue, fueled by commercial and infrastructure projects like airports and shopping complexes. The residential segment is projected to grow at a higher CAGR, driven by urban expansion and new city development to accommodate growing populations.

By Transportation Mode
The market is segmented into trucks, trains, and ships. In 2022, trucks accounted for the largest market share due to their ability to deliver aggregates to remote construction sites. However, the train segment is expected to register the highest growth rate, as advancements in rail transport address the increasing distances between mining and construction sites.

By Region
The market is analyzed across North America (U.S., Canada, Mexico), Europe (UK, France, Germany, Italy, rest of Europe), Asia-Pacific (China, Japan, India, South Korea, rest of Asia-Pacific), and LAMEA (Latin America, Middle East, Africa). In 2022, Asia-Pacific held the largest market share, driven by rapid urbanization and population growth, with China and India accounting for a significant portion of global demand. LAMEA is expected to grow at the highest CAGR, fueled by economic and population growth in African countries, which are driving demand for both residential and non-residential construction projects.

Competitive Landscape
The construction aggregates market is competitive, with major players adopting strategies like product launches, acquisitions, and expansions to maintain their market position. Key companies include Adelaide Brighton Ltd., CEMEX S.A.B. de C.V., CRH plc, HeidelbergCement AG, Holcim Ltd., Martin Marietta Materials Inc., Rogers Group Inc., Sika AG, Vicat SA, and Vulcan Materials Company. For example, in January 2023, Holcim US acquired the sand and aggregate operations of Pioneer Landscape Centers, strengthening its market presence in Denver, Colorado Springs, and Phoenix. Similarly, in June 2023, Afrimat acquired Lafarge South Africa Holdings, expanding its product portfolio and customer base in Africa.

Full Report With TOC@ https://www.alliedmarketresearch.com/construction-aggregates-market-A07987

Key Benefits for Stakeholders
This market analysis provides valuable insights for stakeholders, including:

Extensive analysis of current and emerging trends, supported by historical data from 2021 to 2032.
In-depth segmentation to identify growth opportunities across types, applications, transportation modes, and regions.
Comprehensive regional analysis to determine prevailing opportunities in North America, Europe, Asia-Pacific, and LAMEA.
Competitive analysis of major players, including their strategies and market positioning, to facilitate benchmarking.
Revenue and volume forecast analysis from 2023 to 2032 to guide strategic planning.
Insights into key drivers, such as urbanization and infrastructure investments, and restraints, including high transportation costs and inflation.

Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry

This release was published on openPR.