by The construction aggregates market comprises crushed stone, sand, gravel, and crushed slag which are basic materials used in construction. They provide strength and contribute to the durability of structures made using concrete, cement, and asphalt. Aggregates are strong, inert materials that add volume and reduce shrinkage during cement hardening as well as add mass.
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 to 2031.
Key Takeaways
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.
The key opportunities in the market include increased government spending on infrastructural projects across both developed and developing economies. Additionally, focus on rural infrastructure development is expected to ramp up demand for construction aggregates over the forecast period. Geographically, Asia Pacific dominates the global Construction Aggregates Market Demand and is expected to maintain its lead through 2031 owing to rapid urbanization and industrialization in China and India.
Market Drivers
Increasing infrastructure development activities such as road construction, residential & commercial construction, and railway projects are the major market drivers for construction aggregates. With growing urbanization globally, the demand for constructing new buildings, roads, highways, bridges is increasing substantially which requires large volumes of construction aggregates. Additionally, focus on rural infrastructure development especially across Asian and African countries is expected to further propel market growth over the coming years.
PEST Analysis
Political: Government spending on infrastructure development projects such as roads, dams, bridges etc drives demand for Construction Aggregates Market Stringent environmental regulations regarding mining and quarrying activities impact supply.
Economic: Aggregate demand from construction industries such as housing, commercial construction, roads etc is dependent on overall economic growth and investment levels in an economy. Changes in spending priorities can impact market dynamics.
Social: Urbanization trends leading to growth of cities and megacities augment the need for housing, transportation and civic Construction Aggregates Market Companies infrastructure development which spurs consumption of aggregates.
Technological: Use of equipment with advanced mining and crushing capabilities helps boost aggregate production volumes. Adoption of new construction techniques allows use of aggregates in innovative ways.
Geographical concentration of market in terms of value
The Asia Pacific region dominates the global construction aggregates market led by China, India and countries in Southeast Asia. This is due to the huge population base and massive ongoing investment in infrastructure modernization and urbanization across developing Asian nations. Countries with large land area and abundant natural reserves of raw materials such as Russia, US and European nations also account for significant market shares.
Fastest Growing Region
The Middle East and Africa region is poised to be the fastest growing market for construction aggregates during the forecast period propelled by infrastructural development projects associated with economic diversification in the Gulf countries and rising demand from population centers in African nations undergoing rapid urbanization. Mega scale projects like Dubai Expo 2020 had fueled aggregates demand across West Asian countries in recent years. Going forward, China’s Belt and Road Initiative is expected to further drive consumption.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.
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