Global Construction Aggregates Market Size To Worth USD 622.46 Billion By 2033 | CAGR OF 4.90%
Category: Construction & ManufacturingGlobal Construction Aggregates Market Size To Worth USD 622.46 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Construction Aggregates Market Size is Expected to Grow from USD 385.67 Billion in 2023 to USD 622.46 Billion by 2033, at a CAGR of 4.90% during the forecast period 2023-2033.
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Browse key industry insights spread across 198 pages with 110 Market data tables and figures & charts from the report on the "Global Construction Aggregates Market Size, Share, and COVID-19 Impact Analysis, By Product (Crushed Stone, Sand & Gravel, and Other Aggregates), By Application (Commercial, Residential, Industrial, and Infrastructure), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/construction-aggregates-market
Aggregates are raw materials used in construction that offer strength, stability, and durability to structures. They are granular materials that are combined with a binding medium like water, cement, or asphalt to appearance compound materials like concrete and asphalt concrete. The construction aggregates market is driven by several factors, including, Governments investing in infrastructure projects like highways, bridges, railways, and airports, which require large amounts of construction aggregates. As the world's population grows and more people move to cities, there's a need for more housing, transportation, and infrastructure i.e. rapid urbanization. There's a growing emphasis on eco-friendly construction practices, which is leading to more use of recycled and reclaimed aggregates. However, transportation of construction aggregates is not a complicated concern; nevertheless, the high weight and volume of these materials can increase the cost associated with transportation. Sand and gravel reserves are depleting across the world and illegal mining has hindered the supply of these types of construction aggregates. Additionally, strict mining laws across several countries have resulted in a spike in product prices, which might impact the growth forecast in the market.
The sand & gravel segment is predicted to hold the largest market share through the forecast period.
Based on the Product, the construction aggregates market is classified into crushed stone, sand & gravel, and other aggregates. Among these, the sand & gravel segment is predicted to hold the largest market share through the forecast period. Naturally occurring granular materials formed from the disintegration of rock and stone make up sand and gravel. These versatile building materials are easily accessible and can be processed near construction sites. The continuous development of infrastructure in major economies is a significant driving force behind the widespread use of sand and gravel. Large-scale projects in transportation, energy, and utilities heavily rely on sand and gravel for creating foundations, laying aggregate base courses for roads and highways, and producing ready-mix concrete.
The infrastructure segment is anticipated to hold the highest market share during the projected timeframe.
Based on the application, the construction aggregates market is divided into commercial, residential, industrial, and infrastructure. Among these, the infrastructure segment is anticipated to hold the highest market share during the projected timeframe. Mega construction projects necessitate large quantities of aggregate materials for building activities. These encompass the construction of roads, highways, railway networks, urban infrastructure like bridges and tunnels, energy production facilities, and large public buildings. Many countries are giving priority to infrastructure expenditure to enhance economic growth, connectivity, and urban expansion. Emerging economies are also significantly increasing infrastructure spending to bridge development disparities. The commercial infrastructure sector encompasses the construction of warehouses, distribution centers, and data centers, all of which involve aggregate-intensive civil works.
Asia Pacific is estimated to hold the largest share of the construction aggregates market over the forecast period.
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Asia pacific is estimated to hold the largest share of the construction aggregates market over the forecast period. This is due to increased urbanization, technological advancements, and rising disposable incomes. Key trends include a shift towards sustainability, with a growing emphasis on eco-friendly and energy-efficient products. The availability of affordable land and resources in the Asia Pacific region enables competitive pricing, which in turn drives demand. Increasing prosperity among the population creates additional potential in both commercial and residential construction, complementing the government's infrastructure investments. Positive economic forecasts indicate that Asia Pacific will sustain its rapid market growth.
North America is expected to grow the fastest during the forecast period. Housing refurbishment and ongoing home construction are estimated to drive development in the construction sector. This, in turn, is expected to raise demand for construction aggregates in the U.S. during the forecast period. Alternative materials, including concrete, steel, and wood, are being replaced or supplemented by innovative technologies offering enhanced performance, sustainability, as well as cost-effectiveness. Due to their lightweight, toughness, and environmentally friendly characteristics, materials, including engineered wood, recycled plastic, bio-based composites, and sophisticated polymers, are becoming more popular.
Major key players in the construction aggregates market include Adbri Ltd (Adbri), Big City Crushed Concrete, CEMEX S.A.B. de C.V., CRH Plc. (CRH), Delta Sand & Gravel, Eurocement Group, Ferma Corp, Green Stone Materials, Heidelberg Cement AG, Holcim, Independence Recycling of Florida, Martin Marietta Materials, Rogers Group Inc., Tarmac, Top Grade Site Management, LLC, and others.
Recent Developments
- In July 2024, Heidelberg Materials North America announced that it has entered into a definitive procure agreement to acquire Carver Sand & Gravel, the largest aggregates manufacturer in the Albany, New York, area. Included in this acquisition are four quarries, three sand and gravel pits, two asphalt plants, 70 million metric tonnes of aggregate reserves, a logistics business, and about 200 employees.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the construction aggregates market based on the below-mentioned segments:
Global Construction Aggregates Market, By Product
- Crushed Stone
- Sand & Gravel
- Other Aggregates
Global Construction Aggregates Market, By Application
- Commercial
- Residential
- Industrial
- Infrastructure
Global Construction Aggregates Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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