Construction aggregates are crushed stones or gravels that have various particle sizes and are used in construction of roads, buildings, bridges, etc. Aggregates provide good compressive strength and durability to concrete structures. Rapid urbanization and increasing infrastructure development projects undertaken by governments worldwide are boosting the demand for construction aggregates.
The global construction aggregate market is estimated to be valued at US$ 470 Bn in 2023 and is expected to exhibit a CAGR of 7% over the forecast period 2023-2027, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the construction aggregate market is rising government investments in infrastructure development projects. Several countries are undertaking major infrastructure projects such as highways, airports, metro rails, and new cities to boost economic growth. For example, China's Belt and Road Initiative involves building roads, railways, and ports connecting China with Asia, Europe, and Africa. In India, the government's National Infrastructure Pipeline comprises over 7,000 projects. Similarly, the US government has earmarked around $1 trillion for upgrading its aging infrastructure. Growing infrastructure development is significantly increasing the demand for construction aggregates worldwide.
Segment Analysis
The global construction aggregates market is segmented by type into crushed stone, sand, gravel, and others. The crushed stone segment dominates the market and accounts for more than 60% share globally. Crushed stone is widely used in construction activities for making concrete and asphalt for building roads, bridges, tunnels, and other construction projects. It is affordable and readily available natural resource with high compressive strength. This makes it an ideal choice for usage as aggregate in the construction industry.
Key Takeaways
The Global Construction Aggregate Market Size is expected to witness high growth in upcoming years. The global construction aggregate market is estimated to be valued at US$ 470 Bn in 2023 and is expected to exhibit a CAGR of 7% over the forecast period 2023-2027.
The growth can be attributed to rapid urbanization and increasing construction activities around the world. Regionally, Asia Pacific dominates the global market and the trend is anticipated to continue in coming years. China, India, and countries in Southeast Asia are major contributors to the regional market. China alone consumes over 50% of the global construction aggregates owing to massive investments in transport, energy and urban infrastructure projects under Belt and Road initiative. In India, the government's focus on roads, affordable housing and smart cities has significantly boosted consumption of construction aggregates. Europe and North America are also important regional markets driven by investments in railway & road infrastructure projects. However, their growth is expected to be modest compared to exponential rise seen in developing economies of Asia Pacific and Middle Eastern regions.
Key players:
Key players operating in the construction aggregates market are Vulcan Materials Co., CRH Plc., Heidelberg Cement AG, Martin Marietta Materials Inc., LafargeHolcim Ltd., CEMEX S.A.B. de C.V., EUROCEMENT Holding AG, and Adelaide Brighton Ltd. Vulcan Materials Co. and CRH Plc. have sizable market presence with vertically integrated operations across countries. These players export crushed stone, sand, and gravel to address shortages in regional markets.
For More Insights, Read: https://www.newswirestats.com/construction-aggregates-market-demand-growth-and-regional-outlook-by-2030-2/
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Global “Building & Construction Sheets Market” is projected to reach USD 195.15 billion by 2025 owing to the increase in spending power of consumers in construction industries across the globe.
Apart from industry applications, building and construction sheets are also used for domestic purposes like; for any home appliance, metal surround on a kitchen benchtop, and an interior design feature.
Especially, the emerging nations from Asia Pacific fuel the building & construction sheets industry in the coming years.
Besides, the market is projected to experience significant growth owing in construction industries due to rising disposable income in developing countries.
Building & Construction Sheets industry is categorized on the basis of product type, application, function, distribution channel, end-use and geography.
On the basis of product type, the market can be divided into rubber, polymer, bitumen, and metal.
Market Research Future (MRFR) has published a research report about the global construction aggregate market that predicts growth for this market during the forecast period between 2019 and 2024.Analyzing the market structure, this report calculates the future growth potential of the market.
It weighs the strategies of the key players in the market and supports the competitive developments like joint ventures, new product developments, mergers and acquisitions, research and developments (R) in the market.The key factor driving the global construction aggregate market growth is the increased number of construction projects around the world.
Other factors supporting the market growth include growing investments in this sector, increasing industrialization, and better processes that have increased the production levels, resulting in market growth.The global construction aggregate market has been segmented on the basis of application, material, and lastly, region.
Residential areas are areas where housing societies are located.
Commercial areas the areas where corporate offices, businesses, and retail outlets are located.
The segment called “others” includes geosynthetic aggregates, recycled concrete aggregates, and slag aggregates.The regional segmentation of the global construction aggregate market can segment the market into the regional markets known as North America, Europe, Asia Pacific, and rest of the world (RoW).
The prime objective of Construction Aggregate report is to provide the insights on the post COVID-19 impact which will help market players in this field evaluate their business approaches.
Also, this report covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).Download FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/105581/global-regional-construction-aggregate-2021-2027-33 The global Construction Aggregate market was valued at 26770.59 Million USD in 2020 and will grow with a CAGR of 1.48% from 2020 to 2027, based on Our ResearchER newly published report.By Market Verdors:LafargeHolcim GroupWharehineAggregate IndustriesOkanagan AggregatesRock Road CompaniesKuari Pati Sdn BhdHanlon ConcreteBy Types:GraniteSandGravelLimestoneCrushed RockBy Applications:Highway ConstructionRailway ConstructionKey Indicators AnalysedMarket Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the market?s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027.
With detailed analysis by types and applications.Market Trends: Market key trends which include Increased Competition and Continuous Innovations.Opportunities and Drivers: Identifying the Growing Demands and New TechnologyPorters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.Key Reasons to PurchaseTo gain insightful analyses of the market and have comprehensive understanding of the global market and its commercial landscape.Assess the production processes, major issues, and solutions to mitigate the development risk.To understand the most affecting driving and restraining forces in the market and its impact in the global market.Learn about the market strategies that are being adopted by leading respective organizations.To understand the future outlook and prospects for the market.Besides the standard structure reports, we also provide custom research according to specific requirements.Reasons to Purchase Our Research Report:1.
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