Construction Aggregates Market

The Increasing Demand For Recycled Construction Aggregates Is Driving The Growth Of Construction Aggregates Market

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The global Construction Aggregates Market is estimated to be valued at US$ 528.09 Bn or Mn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Construction aggregates are basic materials used in construction, including sand, gravel, crushed stone, slag, recycled concrete and geosynthetic aggregates. They are important basic materials for constructing buildings, infrastructure, as well as facilities like roads. Aggregates provide load-bearing foundations and surfaces able to withstand weather effects.

Market key trends:

One of the key trends in the construction aggregates market is the increasing demand for recycled construction aggregates. The construction and demolition waste generated each year is a huge amount globally. Many countries have implemented strict regulations regarding reuse and recycling of construction waste. Using recycled aggregates helps reduce the environmental impact of extracting and processing virgin aggregates. It also helps preserve natural resources. The use of recycled aggregates obtained from construction and demolition waste is gaining momentum in the global construction aggregates market.

Market key trends:

The Global Construction Aggregates Market Size has been witnessing significant growth due to increasing infrastructure development activities across both developed and developing economies. Rising government expenditure on infrastructure projects such as roads, highways, bridges, dams, airports etc. along with growing population is driving the demand for construction aggregates. Moreover, advancement in construction technology and extensive use of aggregates in ready-mix concrete has boosted the consumption of construction aggregates. Sustainable and eco-friendly construction practices along with recycling of construction waste are offering new opportunities for aggregates companies.

SWOT Analysis:

Strength: Huge global demand from infrastructure and construction industries. Abundant natural reserves of raw materials provide sustainable supply.
Weakness: Fluctuating raw material prices and energy costs affect operating margins. Strict environmental regulations increase compliance burden.
Opportunity: Rising public-private partnership projects in developing nations. Growth in concrete roads and sustainable construction using recycled aggregates.
Threats: Slowdown in global economic activities may impact infrastructure spending. Changing consumer preference toward green buildings poses threat.

Key Takeaways:

The Global Construction Aggregates Market Size is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period of 2023 to 2030, due to increasing infrastructure development projects globally. Asia Pacific dominates the global market with China being the largest market globally followed by India. The construction aggregates market in Asia Pacific is projected to grow at the fastest rate during the forecast period due to increasing government spending on infrastructure development in the region.

The global construction aggregates market size for 2023 is US$ 528.09 Bn. Key players operating in the construction aggregates market are China Resources Cement Holdings Limited, EuroCement Group, Vulcan Materials Company, LafargeHolcim, LSR Group, Adbri, Cemex, Heidelberg Cement AG, and Martin Marietta Materials. Rapid urbanization and growth of metro cities are generating huge demand for housing and commercial construction in Asia Pacific region driving the market growth.

Regional analysis:

Asia Pacific accounts for more than 50% of the global construction aggregates market led by China, India, Indonesia and Vietnam. Thriving construction industry coupled with ongoing infrastructure projects makes APAC the most lucrative market. China dominates the Asia Pacific construction aggregates market with huge demand from infrastructure development activities related to One Belt One Road initiative. India is the second largest market in the region growing at a CAGR of over 7% during the forecast period due to government emphasis on road construction and housing projects.

 

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it