The global construction aggregates market was valued at US$ 358.80 billion in 2017, and is expected to reach US$ 571.57 billion by 2025, witnessing a CAGR of 6.3% over the forecast period (2018 – 2025), according to Construction Aggregates Market Report, by Product Type (Sand, Gravels, Crushed Stones, and Others), by End-use Industry (Residential, Commercial, Industrial, and Infrastructure), by Application (Road Base & Coverings, Hydraulic Concrete, Asphaltic Concrete, and Others), and by Regions (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), published by Coherent Market Insights.
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Aggregates are generally defined as granular materials, which are used with the addition of lime or cement in the construction. Increasing demand for construction aggregates in various applications such as concrete, road stone, mortar, railway ballast, asphalt and others is driving growth of the construction aggregates market. According to Mineral Products Association (MPA), in 2015, road spending and asphalt sales increased by 6.5% in Great Britain.
However, rising energy cost and high transportation cost is restraining growth of the construction aggregates market. For instance, at a pit, the sand and gravel was valued at US$ 7/metric ton. Transporting it 35 kilometers to the point of its consumption cost an additional US$ 7 and thus the consumer has to pay US$ 14 per ton. This may negatively affect the market growth.
To know the latest trends and insights prevalent in this market, click the link below:
Key Trends and Analysis of the Construction Aggregates Market:
- Among end-use industry, residential segment accounted for a significant market share in 2017, owing to growing disposable income, which in turn increased the demand for more modern housing, fueling the growth of this segment. According to United States, Bureau of Economic Analysis (BEA), the disposable personal income in the U.S. was US$ 52.5 billion in July 2018, 0.3% increased as compared to June 2018.
- Among product type, crushed stones segment is expected to account for significant share in the global construction aggregates market due to increasing consumption of crushed stones in construction activities. According to the U.S. Geological Survey, Mineral Commodity Summaries, in 2016, the production of crushed stones was 1.48 billion tons, with an increase of 11% as compared to 2015, in the U.S.
Key Takeaways of the Market:
- Asia Pacific was the fastest growing region in the global construction aggregates market in 2017. This is attributed to rapid development of infrastructure in emerging economies such as India and China coupled with increasing infrastructure investment is driving growth of the construction aggregates market. According to the India Brand Equity Foundation (IBEF), the government is majorly investing in infrastructure sector. For instance, in January 2018, in India, the National Investment and Infrastructure Fund (NIIF) partnered with DP World UAE, to create a platform, which will mobilize investment valued US$ 3 Bn into terminals, ports, transportation businesses.
- The government backed affordable housing programs in India is further fueling growth of this market. In February 2018, government announced to an affordable housing fund to boost the supply and demand of low cost homes, under National Housing bank (NHB).
- Europe is expected to exhibit significant growth in the global construction aggregates market over the forecast period, owing to increasing demand for crushed stones and recycled aggregates, which is propelling the growth of the construction aggregates market. According to British Geological Survey, Natural Environment Research Council, in 2011, crushed rock which include igneous rock, limestone, and sandstone supply was 90,928 thousand tones in Great Britain.
- Some of the key players operating in the global construction aggregates market include Heidelberg Cement AG, PJSC LSR Group, LafargeHolcim Ltd, Martin Marietta Materials, Inc., CEMEX S.A.B. de C.V., Eurocement Holding AG, CRH plc., Adelaide Brighton Cement Ltd., Vulcan Materials Company, and Rogers Group Inc.
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