The construction aggregates market is poised for substantial growth, with a projected valuation of USD 395.67 billion in 2023. According to Future Market Insights, this sector is anticipated to experience a robust compound annual growth rate (CAGR) of 4.86% over the next decade, ultimately reaching an estimated USD 636.46 billion by the end of 2033. This upward trajectory reflects increasing demand driven by ongoing infrastructure development and urbanization trends globally.
Increase in infrastructural spending i.e., the growth in population and urbanization, where the demand for infrastructure such as roads, bridges, airports, and housing is rising, with an increase in the demand for construction aggregates. Governments are thus, investing largely in the development of such infrastructural projects, with the growing demand for construction aggregates.
The construction industry also acts as a key driver of the construction aggregates market. It is because of the rise in demand for residential, commercial, and industrial construction projects, which are coupled with the increase in the need for new housing, uplifting the growth of the construction aggregates market.
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The rise in population and urbanization, with the need to construct new projects is estimated to increase hugely, thereby leading to higher demand for construction aggregates.
Key Takeaways from this Market Study:
- Sales of the construction aggregates market expanded at a CAGR of 3.2% from 2018 to 2022.
- Growth rate of Asia Pacific for the construction aggregates market is likely to expand at a share of 5.2%.
- Demand for construction aggregates was at 3.8% CAGR from 2016 to 2020.
- North America is estimated to capture a market share of 42%.
- The United States is said to hold a market share of 26.8%.
- Construction aggregates market in the United Kingdom is projected to expand at a CAGR of 4.33%.
- Germany is said to hold a significant share in its region consisting of a market share of 16.2%.
- Construction aggregates market in China is anticipated to reach a market valuation of US$ 143.3 billion.
- Increasing urbanization and industrialization in the country China rises with a CAGR of 3.88%.
- Asia Pacific holds an important position in this market sector with a share of 20.3%.
- India’s market is likely to rise prominently at a growth rate of 5.3%.
- Crushed Stone is said to have a dominant position.
- Crushed stone in the construction aggregate sector rises with a growth rate of 4.2%.
- Applications in Infrastructure are predicted to hold a leading position.
- Infrastructure segment is expected to generate maximum revenue in the construction aggregates market with a share of 33%.
“Impact of Digital Transformation Acts as a Driving Key in Construction Aggregates Market,” – comments an analyst at Future Market Insights (FMI).
Competitive Landscape:
Latest Developments by the Key Players in the Market are:
- In December 2022, Rogers Group published the memoirs of long-time collaborator Guy Hugnin.
- In April 2023, PJSC LSR Group (‘LSR’ or the Company’) (MOEX: LSRG), one of the leading real estate developers and building materials producers in Russia, today announces its operating results for the first quarter of 2023.
- In May 2023, Lehigh Hanson, Inc. announced it has now changed its brand to Heidelberg Materials effective immediately as this exciting new brand identity goes into effect today for the company’s corporate office and its core brands of Lehigh Cement and Hanson Aggregates. The majority of the company’s other subsidiaries in the United States and Canada will change their brands to Heidelberg Materials in the coming months.
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Some of the Prominent Players in this Market are:
- Heidelberg Cement AG
- Martin Marietta Materials Inc
- LSR Group
- LafargeHolcim Ltd.
- Cemex SAB de CV ADR
- Vulcan Materials Company
- CRH plc
- Adelaide Brighton Ltd.
- Eurocement Group
- ROGERS GROUP INC.
Construction Aggregates Market Segments:
By Product Type:
- Crushed Stone
- Sand
- Gravels
By Application Type:
- Commercial
- Residential
- Industrial
- Infrastructure
By Region:
- North & Central America
- South America
- India
- China
- Australia & New Zealand
- The Middle East and Africa
- Rest of Asia Pacific
- Southern & Western Europe
- CIS & Eastern Europe
- Northern Europe
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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