Construction Aggregate Market - Upcoming Trends, Growth Drivers and Challenges – Forecast to 2024

29/set/2020 13:34:02 Automotive Market Research Reports Contatta l'autore

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The global construction aggregate market 2020 reported a 5.4% CAGR jump in the recent period, as the market is boosted by a surge in the construction industry, reveals Market Research Future study. The report encloses that in 2018, the market was been valued at USD 337.8 billion, which is now expected to cross this figure during its course of growth, which is from 2019 to 2024.

Market’s Top Drivers & Challenges

The salient factor that is leading the global construction aggregate market is directed towards rapid infrastructural development along with business capital investments, mainly in emerging regions, such as China and India. These have propelled the demand for the construction aggregates in a considerable way.

At the same time, the rising government investments in road and railway projects are also immensely supporting the sales of construction aggregates, at a global level. Some more projects such as expansion of new airport structures and remodeling of old airports are also keeping the pace of the market’s growth from time to time and fueling demand for construction aggregates. These initiatives are being real time effective in the construction industry and assisting the global construction aggregates market to fulfill its course of growth in the coming years.

Other driving factors also include the growing number of Special Economic Zones (SEZs). These exist in construction industry to promote industrialization and economic growth through sustainable development. In accordance with the Ministry of Commerce, SEZs can enjoy flexible regulations and restrictions, simplified procedures, tax breaks, exemption from customs and duties to promote exportation of goods, employment opportunities, foreign investment, and develop infrastructure facilities, more meritoriously. Due to such government policies, it has been observed that the figure of SEZs is budding, significantly, which in turn, propelling the growth of the global market for the future.

Segmentation of Market: Construction Aggregates

The segmental analysis of the global construction aggregates has been conducted by the elements of material and application.

By the type of material: Stone, gravel, sand, M-sand, and others are the segments. On the basis of application, the global market is segmented as residential, commercial, industrial, and infrastructure. Wherein, crushed stone collected the larger market share of around 37% in the overall construction aggregate market. Looking at such figures, it is further expected that the market would witness the highest growth rate during the forecast period owing to its high commodities that have low value, thus making it is more economical to use these in construction projects. These stones are mostly used in road construction, patios, driveways, paving blocks and concrete for sidewalks, homes, and office buildings.

By the type of application: Commercial, residential, industrial, and infrastructure are the segments. Among which, the infrastructure segment, in 2018 occupied the largest market share, which is now expected to observe the highest growth rate in the global market. The construction industry in emerging regions such as China and India, has witnessed an investment inflow, owing to the numerous government initiatives to develop better infrastructure such as heavy civil works like road, rail, dams, and irrigation canals. On the other hand, the residential segment is also anticipated to observe significant growth in the global construction aggregate market, owing to the rapidly increasing population coupled with rapid urbanization.

Regional Framework

The global construction aggregate market has been segmented region-wise among the key regions of North America, Europe, Asia-Pacific, and the rest of the world (RoW).

Among these, the region of Asia-Pacific occupied the largest market share of around 50% and is now probable to witness the fastest growth rate during the assessment period. Such a growth of the market is mainly attributed to the booming construction industry in the residential, commercial, industrial, and infrastructure sectors that will contribute to the demand for construction aggregate market in the region.

Then comes the region of North America that occupied the second largest market, which is projected to parade sustainable growth rate during the prediction period. It is the repair and renovation activities in the real estate industry and the commercial sector that is projected to augment the demand for construction aggregates in the region.

Market Key Players

The eminent market key players who are actively participating in the global market are listed as HeidelbergCement AG (Germany), LSR Group (Russia), Cemex SAB de CV ADR (Mexico), Martin Marietta Materials Inc. (US), ROGERS GROUP INC. (US), CEPSA (Spain), Vulcan Materials Company (US), Adelaide Brighton Ltd (Australia), CRH plc (Ireland), and Eurocement Group.


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