London, April 16, 2024 (GLOBE NEWSWIRE) -- Global construction aggregates market is expected to value at US$420 Bn in 2024 and is projected to reach a value of US$710 Bn in 2031, securing a CAGR of 7.79% during the forecast period from 2024 to 2031.
Construction aggregates refer to a broad category of granular materials such as sand, gravel, crushed stone, slag, recycled concrete, and other materials used in the construction of buildings, roads, bridges, railways, and other infrastructure projects.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2023 | |
| Forecast Year | 2024 – 2031 | |
| Market Size in 2024 | US$420 Bn | |
| Estimated Market Size in 2031 | US$710 Bn | |
| CAGR | 7.79% | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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Growing investments in infrastructure projects such as roads, highways, airports, and railways are driving demand for construction aggregates. The global construction aggregates market has been experiencing steady growth, driven by increasing infrastructure development activities, urbanization, and population growth.
The construction aggregates market is expected to continue growing, driven by sustained infrastructure investments, urbanization, and construction activities globally. However, the industry is likely to witness increased emphasis on sustainable practices, innovation in materials and technologies, and regulatory compliance.
Recycling and reuse of construction waste, adoption of alternative materials, and integration of digital solutions are expected to shape the future of the construction aggregates market
Population growth in emerging economies is fueling demand for residential and commercial construction, driving the need for construction aggregates. Increasing construction activities, particularly in developing regions, contribute to the demand for construction aggregates.
Ongoing maintenance and repair activities in aging infrastructure also drive demand for aggregates. Growing emphasis on sustainable construction practices, including the use of recycled aggregates and alternative materials, is influencing the market.
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Key Research Insights
- Asia Pacific and North America stand out as regional frontrunners in the market.
- Crushed stone, sand and gravel, and recycled aggregates are identified as top-performing segments.
Insights into Segmentation Analysis
Sand and Gravel Uptake Accelerates as Sustainability Takes Centre Stage
- Sand and gravel constitute a significant part of the construction aggregates market, catering to the demand from residential, commercial, and infrastructure construction projects.
- Their natural abundance, and cost-effectiveness make sand and gravel essential for concrete production, road construction, and as a component in asphalt.
- The increasing number of infrastructure projects globally, coupled with the growth in the housing sector, especially in developing countries, fuels the demand for sand and gravel.
Demand for Crushed Stone Contributes the Maximum Revenue Share
- The crushed stone segment is a leading contributor to the construction aggregates market. This dominance is primarily due to its widespread use in construction applications, including as a base material for roads, as aggregate in concrete, and for landscaping purposes.
- Crushed stone's versatility, availability, and durability make it a preferred choice for a wide range of construction projects.
- Infrastructure development projects, particularly in emerging economies, have led to increased demand for crushed stone.
- The segment benefits from investments in transportation infrastructure, urban development, and new construction projects, driving its growth.
Key Report Highlights
- Increasing investments in infrastructure projects are driving demand for construction aggregates.
- Growing construction activities, particularly in developing regions, contribute to the demand for construction aggregates.
- Development of technologies for producing high-quality recycled aggregates from construction and demolition waste is fueling the market growth.
Insights into Regional Analysis
Sustained Expansion Prevails in North America
- The United States and Canada have a long history of construction activity with a well-developed infrastructure. This translates to consistent demand for aggregates in both residential and non-residential projects.
- Government investments in upgrading roads, bridges, and other ageing infrastructure further stimulate the construction aggregates market, requiring materials for repairs and expansions.
- Strict environmental regulations regarding dust control and quarry reclamation can increase production costs for companies in North America. However, this also pushes for innovative extraction techniques, and a focus on sustainability.
Growth of Housing Sector and Infrastructure Drive Asia Pacific’s Lead
- Fuelled by population shifts toward cities, this region experiences a constant need for new housing, commercial buildings, and infrastructure. This translates to high demand for crushed stone, sand, and gravel for construction purposes.
- China, and India are developing the economic powerhouses leading the regional market with massive infrastructure development projects like high-speed rail networks and urban transportation systems, requiring vast quantities of aggregates.
- The green construction trend, driven by the growing environmental awareness is pushing the use of recycled aggregates in construction, creating new market opportunities alongside traditional quarrying methods.
Key Companies Profiled in the Global Construction Aggregates Market
- Martin Marietta Materials, Inc.
- CEMEX
- Adelaide Brighton Cement
- Holcim
- Breedon Group PLC
- Heidelberg Materials
- Eurocement Group
- LSR Group
- Taiheiyo Cement Corporation
- Rogers Group Inc.
- Vulcan Materials Company
Global Construction Aggregates Industry Analysis, Size, Share, Growth, Trends and Forecast 2024-2031 - (By Product Type Coverage, By Application Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/construction-aggregates-market
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