The Construction aggregates market is expected to secure a 4.86% CAGR from 2023 to 2033 and is anticipated to value USD 636.46 billion by the end of 2033.
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.
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.
Prominent Drivers of the Construction Aggregates Market
- Urbanization and Infrastructure Development: Rapid urbanization and the ongoing expansion of infrastructure projects globally, including residential, commercial, and industrial buildings, drive the demand for construction aggregates.
- Government Initiatives and Investments: Increased government spending on infrastructure, such as roads, bridges, and airports, supports market growth. Public-private partnerships also boost construction activities.
- Rising Construction Activities: Continuous demand for housing, especially in emerging economies, and expansion in commercial real estate contributes to a steady rise in construction projects requiring aggregates.
- Increasing Demand for Sustainable Materials: Growing emphasis on sustainability and the adoption of recycled aggregates in construction to reduce the environmental footprint fuels market expansion.
- Growth in the Residential Sector: The rising global population and an increasing number of middle-class families drive housing construction, particularly in rapidly developing regions.
- Technological Advancements: The use of modern construction methods such as prefabrication and modular construction is increasing, which requires specific types of aggregates, further driving the market.
- Road Construction and Maintenance: Continuous development and maintenance of road networks in both developed and emerging countries significantly contribute to the demand for aggregates like crushed stone and gravel.
- Rising Commercial Construction Projects: The growth in retail, office buildings, and industrial facilities in emerging markets provides a constant demand for construction aggregates.
Competitive Landscape:
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.
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.
Discover the Future of Construction Aggregates Market with Our Detailed Report!
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 over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
