Press release
Construction Aggregates Market Revenue Expected to Reach US$ 560.9 Bn by 2024
Construction aggregates are a broad category of granular materials such as crushed stone, stone, and gravel etc., which are widely used in the construction sector. Aggregates are the world’s most mined materials. Aggregates have a number of features, including wear and tear resistance and volume stability.
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New trends in construction aggregates such as manufactured sand, and recycled aggregates, along with rising investment in infrastructure globally are driving the global construction aggregates market; whereas high cost of transportation, regulations concerning stringent zoning, seasonal factors, and rising energy costs are expected to act as restraints to growth of the global construction aggregates market.
The growth of the construction industry, increasing construction spending, especially in developing economies such as India and the Middle East, are some of the other major market drivers.
According to analysis results, the global construction aggregates market is estimated to reach a value of US$ 350.2 Bn in 2016, which is expected to expand at a CAGR of 6.1% through 2024, reaching a market value of US$ 468.2 Bn by 2024 end.
Segmentation highlights
During the forecast period, infrastructure segment will continue to account for the maximum share of the total construction aggregates market and is anticipated to expand at a healthy CAGR during the forecast period. By product type, sand will remain the largest revenue generating segment; however, crushed stone segment is expected to expand at a higher CAGR of 7.2% during the forecast period.
Regional projections
Among regions, China is expected to dominate the construction aggregates market throughout the forecast period, expanding at a modest CAGR of 4.7% in terms of value. In 2017, the Chinese market for construction aggregates will witness an impressive Y-o-Y growth of 7.2% over 2016. North and Central America will constitute the next key market, accounting for over 17% market value share by the end of forecast period.
Report outlines global upcoming construction projects and major events impacting the construction aggregates market, along with a list of the top importers and exporters of construction aggregates globally. Capacity factor analysis for each region is also included in the report. Also, construction value added as a percent of GDP for key economies have been included in the report.
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Vendor insights
Leading market players are focused towards mergers and acquisitions, and on expanding their production capacities. Key players in the global construction aggregates market included in the report are Heidelberg Cement AG, Martin Marietta Materials, Inc., LSR Group PJSC, EUROCEMENT Holding AG, LafargeHolcim Ltd., CEMEX S.A.B. de C.V., Vulcan Materials Company, and CRH plc. The reports also focus on key developments and strategies of these key market players.
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