Publishing: December 2021 | Report Code: CM11574 | Available Format: PDF
Construction Aggregate Market Overview
Major trend being witnessed in the global construction aggregate market is the increased investments for boosting the capacity of aggregates. With the onset in construction projects across different countries across the world, the companies engaged in the production of aggregates are looking into expanding their production capacity. The infusion of fresh investment is driven by the objective to produce high-quality aggregates. Thus, rising investment trend is likely to result in greater availability of high-quality aggregates used in the construction industry.
Construction aggregate or simply identified as aggregate is a broad category of grained particulate material such as sand, crushed stone, gravel, recycled concrete, slag, and geosynthetic aggregates. Aggregates are the most mined materials in the world and are widely used in development projects, construction of buildings, and infrastructure projects.
On the basis of type, the construction aggregate market has been categorized into sand, crushed stone, gravel, recycled concrete, slag, and geosynthetic aggregates. Among all the types, crushed stone held a significant share in the market during the historical period, owing to large-scale infrastructure development in developing economies. Moreover, sand also contributed a significant share in the market owing to the land reclamation and requirement of sand in building construction.
Based on the end user, the construction aggregate market has been categorized into infrastructure, residential, commercial, and industrial. Globally, infrastructure held a sizeable share in the market during the historical period. This is largely driven by the fact that a large amount of aggregates is used in development of roads, bridges, ports, and highways. Moreover, governments across various nations are increasingly focusing on boosting their infrastructure spending in a bid to boost their economic growth. This is positively impacting the growth of the market.
Moreover, a significant demand for aggregates in the construction aggregate market is expected to be generated from the residential end users owing to development of new housing projects, independent houses, and villas. With growing population in different countries, the demand for housing will continue to rise, which in turn, will boost the demand for aggregates.
Based on region, the construction aggregate market is categorized into Europe, North America, Asia-Pacific, Latin America, and Middle East and Africa. Among all the regions, North America held a significant share in the market in 2017, owing to the modernization and upgradation of ageing infrastructure in the U.S. and Canada. The U.S. held the largest share in the North American construction aggregate market in 2017, valued at over $1.0 trillion. This is owing to the fact that the country is rapidly modernizing its ports and highways. The large-scale construction industry of the country is likely to aid the growth of the market during the forecast period.
Construction Aggregate Market Dynamics
The major driver identified in the construction aggregate market is the increasing investment in the construction of commercial projects. A large number of commercial projects, including commercial centers, office complexes, mixed-use buildings, and hotels have cropped up in different parts of the world. Countries such as the U.A.E., Saudi Arabia, Malaysia, Thailand, China, and several European nations are largely dependent on tourism industry, which continue to attract investment in the development of hotels and recreational projects. The development of such projects will continue to aid the growth of the market in the coming years.
Major restraint identified in the construction aggregate market is fluctuating raw materials’ prices, and requirement of huge capital investment for setting up of construction aggregate production facility. High capital investments and fluctuation in prices of raw materials have a negative impact in liquidity of a company due to which a large number of companies engaged in the production of these microparticles have delayed their decisions to expand their production capacity.
With rapid urbanization and industrialization, construction aggregate market is growing exponentially in developing countries. The growth in infrastructural development in Asian countries such as China and India is encouraging the demand for aggregates. In the coming years, emerging countries will continue to increase investments in development of seaports, airports, smart cities, and highways, which will directly boost the market growth during the forecast period.
Construction Aggregate Market – Competitive Landscape
Some of the major competitors in the global construction aggregate market include CEPSA, LSR Group, EMEX S.A.B. de C.V., LafargeHolcim Ltd., Martin Marietta, HeidelbergCement Group, Vulcan Materials Company, CRH plc, EUROCEMENT group, Rogers Group Inc., and Adelaide Brighton Ltd.
The study provides historical as well the forecast market size data for various countries, including the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, Brazil, Saudi Arabia, and South Africa.
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