Construction Aggregates Market Statistics, Facts, Regional Trends & Growth 2032

WILMINGTON, DELAWARE, UNITED STATES, September 3, 2024 /EINPresswire.com/ -- The construction aggregates available in the market are obtained from crushed stones, and another type available in the market is sand & gravel. Out of these two segments, the sand and gravel segment dominated the construction aggregates market share in terms of revenue in 2021 and the crushed stones segment is expected to grow with high CAGR. Sand & gravel are used in various applications apart from construction such as in sand-blasting, in metallurgy, in coal-firing power plant, water filtration, and land reclamation.

The construction aggregates market size was valued at $375.3 billion in 2021, and is estimated to reach $667.8 billion by 2032, growing at a CAGR of 5.2% from 2023 to 2032.

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Top Impacting Factors:
Construction aggregates are largely used in residential and non-residential applications, and out of these two, the residential segment accounted for a larger market share in terms of revenue in 2021. The growing population across the world is a major factor behind the growth of the non-residential sector. However, the residential segment is expected to grow with a higher market share in the coming years. Rising industrialization in urban areas is driving the construction of industrial buildings, and a rise in urbanization is responsible for the construction of urban infrastructure including roads, bridges, tunnels, and others.

Moreover, construction aggregates are primarily transported using trucks, trains, and ships. Among these transportation modes, the truck segment generated the largest revenue share in 2021 and is expected to keep dominating the revenue share throughout the forecast period. It is mainly due to the capability of trucks to reach the last mile and ship only the required volume of aggregates. On the other hand, the trains segment is expected to grow with a higher CAGR during the forecast period, owing to the fact that a large volume of aggregate can be transported in one trip only.

Population growth tends to increase product demand, owing to increase in housing, apartment, and work construction. Government interest in housing projects and travel and tourism activities can boost the acceptance of building aggregate. These aggregates can be used for various projects in the construction sector. In addition, aggregates are used in concrete to reduce cracks and most importantly, add strength to the structure. Increase in investments in development of leisure projects and growing tourism industry are expected to drive growth of the construction aggregate market.

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Driving Demands:
The transportation cost of construction aggregates is expensive as they are carried from far away mining locations to construction sites. Transportation expenditures make up around half of all building costs. As a result, the market growth is projected to be limited during the forecast period, owing to the high transportation costs of building materials.

In 2021, Asia-Pacific dominated the global construction aggregates market, in terms of revenue, mainly due to it being the most populated region and the one with the highest population growth rate. Furthermore, LAMEA is anticipated to dominate the construction aggregates market forecast by growing with the higher CAGR.

However, various businesses in the construction aggregates market are expected to witness a slow growth rate in the coming year, owing to the looming recession in major countries driven by the Ukraine-Russia war. The inflation has already led to higher prices of construction aggregates, negatively affecting the construction aggregates market outlook for a short duration.

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Top Players:
HeidelbergCement AG, Vulcan Materials Company, Sika AG, Rogers Group Inc., CEMEX S.A.B. de C.V., Martin Marietta Materials Inc., Vicat SA, CRH, Adelaide Brighton Ltd., Holcim Ltd.

Key Findings Of The Study

The report provides an extensive analysis of the current and emerging construction aggregates market trends and dynamics.
Depending on the type, the sand & gravel segment dominated the construction aggregates market, in terms of revenue in 2021 and the crushed stones segment is projected to grow at a significant CAGR during the forecast period.
By application, the non-residential segment dominated the construction aggregates market share in terms of revenue generated in 2021.
By transportation mode, the truck segment registered highest revenue in 2021.
Asia-Pacific is projected to register the highest growth rate in the coming years.
The key players within the construction aggregates market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the construction aggregates industry.

David Correa
Allied Market Research
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