Impact of Covid-19 Outbreak on Construction Aggregate Market Analysis

12/giu/2020 09:55:14 Automotive Market Research Reports Contatta l'autore

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The worldwide construction aggregate industry has experienced an increase owing to the development of the construction sector throughout the past few years. Rapid infrastructural growth coupled with business capital investments in developing economies, such as India and China, have fueled the demand for the construction aggregates. The rising government investments in railway and road projects are estimated to support the global sales prospects of construction aggregates. Moreover, projects such as the remodeling of old airports and expansion of new airport structures will continue to stimulate the demand for construction aggregates. Besides, the mushrooming Special Economic Zones (SEZs) are also encouraging the worldwide construction aggregates market. Special Economic Zones (SEZs) are identified for promoting industrialization and economic development by the means of sustainable development. Owing to government policies and awareness, the number of SEZs is spurring substantially, which in turn, encourages the growth of the global market. In 2018, the worldwide construction aggregate market reflected a worth of USD 337.8 billion, and is likely to observe 5.4% CAGR growth throughout the forecast period of 2019 to 2024.

Market Segmentation

The worldwide construction aggregate market has been segmented based on application and material. Based on material, the global market is segmented into gravel, crushed stone, M-sand, sand, and others. Based on application, the global market is segmented into commercial, residential, infrastructure, and industrial. Based on material, crushed stone represented the larger market share of around 37% in the global construction aggregate market, which is also estimated to experience the highest growth rate throughout the forecast period. These stones are heavy ingredients with low value, making it is more economical for application in the construction sector. These stones are mostly used in paving blocks, concrete for sidewalks, road construction, patios, driveways, office buildings, and homes. Based on application, in 2018, the infrastructure segment represented the largest market share, which is also projected to observe highest growth rate in the worldwide market. The construction sector in emerging economies such as India and China, has observed an investment inflow, on account of the different government initiatives to encourage better infrastructure. For example, in India, the government has taken steps to establish Special Economic Zones (SEZs), which endorse economic growth and industrialization. The Ministry of Commerce in India, has abridged the number of regulations and curtailed the taxes to surge FDI and expand the infrastructure in the economy. Moreover, the residential segment is expected to experience substantial development within the worldwide construction aggregate market on account of the increasing instance of urbanization coupled with the rising population. This drastic transformation has further boosted the requirement for residential buildings mostly in emerging economies like India and China. Therefore, the construction businesses around the world are coming up with new projects and entering new markets. The market is highly competitive and ruled by several key players. These players have embraced tactics to develop their global presence and expand their market shares.

Regional Analysis

The worldwide construction aggregate market has been geographically studies across Europe, APAC, North America, and the rest of the world (RoW). APAC represented the primary share in the market. The APAC market is expected to grow rapidly over the forecast period. The growth can be owing to the developing construction activities within the commercial, industrial, and residential sectors. North America held the second largest market, which is likely to reflect sustainable growth rate throughout the forecast period. Renovation and repair activities in the real estate sector and the commercial sector is likely to boost the demand for construction aggregates in the region.

Key Players

Global construction aggregate market is ruled by key players such as HeidelbergCement AG (Germany), LSR Group (Russia), Cemex SAB de CV ADR (Mexico), Martin Marietta Materials Inc. (US), CEPSA (Spain), Vulcan Materials Company (US), Adelaide Brighton Ltd (Australia), CRH plc (Ireland), Eurocement Group, and ROGERS GROUP INC. (US).

 

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