by The construction aggregates such as crushed stone, sand, gravel, and crushed slag are bulk materials which are widely used in the construction industry. Aggregates are used as a basic raw material for concrete and asphalt mixes to pave roads and in the production of ready mix concrete and precast concrete products. Their mechanical properties and low cost make them desirable mineral materials for use in construction.
The global Construction Aggregates Market is estimated to be valued at US$ 608.36 Bn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing infrastructural development activities across the globe is a major factor driving growth of the construction aggregates market. Rising urbanization in developing countries has led to an increase in demand for residential and commercial construction which in turn is propelling demand for aggregates such as sand, gravel, crushed stone etc. for use in construction projects. According to the Global Construction Perspectives and Oxford Economics report, the worldwide value of construction output is projected to grow by 85% to $15.5 trillion worldwide by 2030, driven by megaprojects in North America, China, India and Indonesia. This rising construction activities will directly boost utilization of aggregates in construction applications over the forecast period.
SWOT Analysis
Strength: Construction aggregates like crushed stone, sand and gravel are widely available and renewable resources which provide reliable supply.
Weakness: High transportation and handling costs for construction aggregates due to their bulk and weight properties. Production of construction aggregates causes high levels of noise, dust and visual impact.
Opportunity: Rising infrastructure development activities in developing countries provide opportunities for construction aggregates market. Growing demand for eco-friendly building materials also supports growth of recycled construction aggregates.
Threats: Stringent environmental regulations to control mining and production of construction aggregates pose threats. Availability of alternative materials like glass, plastics and ceramics exert substitution threat to some extent.
Key Takeaways
The Global Construction Aggregates Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The global Construction Aggregates Market is estimated to be valued at US$ 608.36 Bn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024-2031.
Regional analysis comprises the Asia Pacific region dominates the global construction aggregates market currently and is expected to maintain its leading position over the forecast period. China, India, Indonesia, Vietnam etc are major consumers and have witnessed higher spending on infrastructure development which drives the construction aggregates market growth.
Key players operating in the construction aggregates market are Sika Ag, Trelleborg Ab, Henkel Ltd., Flexcon Company, Inc, Nitto Denko Corporation, Pyrotek Inc., Vibratec, Autoneum, Rousch, Avery Dennison Corporation, American Acoustical Products, Polymer Technology Inc. Soundown Corporation, Heathcote Industrial Plastics, Vibracoustic Gmbh, Megasorber Pty Ltd, and 3M. These key players are focusing on initiatives like new product launches, expansions, joint ventures and partnerships to gain higher market shares.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
