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. 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%.
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.
Analysis By Segmentation:
The market report has been segmented on the basis of product type, application, and region. The product type segment includes crushed stone, sand, gravel, and other aggregates. The application segment includes commercial, residential, industrial, and infrastructure. The region includes the North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By Product Type: The sand segment accounted for highest revenue share contribution in 2019, as compared to other segments, and is expected to register a CAGR of over 6.9% between 2019 and 2028
By Application: The infrastructure segment in the global construction aggregates market is estimated to account for major revenue share in 2019, and is expected to register highest CAGR of over 7%.
By Region: The market in Asia Pacific is expected to register highest CAGR of over 6.5% in the global construction aggregates market. Increasing investments by government and private organizations for development of infrastructure in emerging economies is another factor expected to boost demand for construction aggregates market substantially.
Global Construction Aggregates Market: Competitive Analysis
The research report on the global construction aggregates market includes profiles of some of the major companies such as 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., and Adelaide Brighton Ltd.
The Global Construction Aggregates Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2019–2028 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global construction aggregates market for 2018–2028.
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