CAGR Of 6.7%: Construction Aggregates Growth Driven By Growing Activities In Infrastructure & Demand For Crushed Stone
MarketResearch.biz announces publication of its most recently generated research report titled, “Global Construction Aggregates Market by Product Type (Crushed Stone, Sand, Gravel, and Other Aggregates), by Application (Commercial, Residential, Industrial, and Infrastructure) and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa). Global Forecast to 2028.”, which offers a holistic view of the construction aggregates market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2019–2023) is projected to be more than US$ 2,097.0 Bn, which is expected to increase rather moderately over the latter part of the five-year forecast period.
Global Construction Aggregates Market: Definition
Construction aggregates are used in building and construction activities, for mixing with cement, lime, bitumen, gypsum, and another adhesive in order to form concrete or mortar. These construction aggregates give stability, volume, wear resistance, erosion resistance, and other desired physical properties to the finished product. Such aggregate can be natural, manufactured or recycled.
Global Construction Aggregates Market: Market Dynamics
Favorable government support and wide applicability of construction aggregates in commercial, residential, industrial, and infrastructure sector play an important role in growth of the market. Growing population and an increasing number of construction projects are some of the factors expected to have a positive impact on the global construction aggregates market. In addition, increasing spending on infrastructure, rapid economic growth with railways, roads, energy, and rural projects, along with rising urbanization, expected to drive demand for repairing the existing infrastructure. In addition, increasing demand for recycled aggregates in constructional activities is expected to fuel demand for construction aggregates in the coming years. Moreover, rising investment in infrastructure and increasing re-modeling projects are among other factors supporting growth of the target market. Further, rising tourism activities, innovation in the construction sector, and rapidly increasing residential sector are expected to boost demand for the global construction aggregates market in the near future.
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Recent trend shows that preference for pea gravel or pea stones is increasing day by day. It is extensively used for above-ground projects such as patios, walkways, and playgrounds.
However, depleting natural resources, rising mining activities, and rising concerns regarding environmental safety and security are some of the factors restraining growth of the global construction aggregates market.
In June 2018, The Martin Marietta Materials, Inc. has announced that it has acquired CRH America, Inc.’s sand and gravel operations business which is US-based company that sells and manufactures building materials and this acquisition was aimed to expansion of the business in Midwest
Global Construction Aggregates Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global construction aggregates market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global construction aggregates market is expected to register a CAGR of 6.7% during the forecast period.
Global Construction Aggregates Market: Segmental Snapshot
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.
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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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