PUBLISHER: The Business Research Company | PRODUCT CODE: 1596974
PUBLISHER: The Business Research Company | PRODUCT CODE: 1596974
Aggregate in road construction refers to a blend of materials, including sand, gravel, crushed stone, and recycled materials, utilized as a base or sub-base to enhance the stability, strength, and drainage of roads. These aggregates play a crucial role in ensuring durability, supporting heavy traffic loads, and maintaining road integrity.
Key aggregate types in road construction include granite, sand, gravel, limestone, crushed rock, and others. Granite, a robust and weather-resistant igneous rock, is commonly employed in road bases and surface courses due to its durability. These materials are applied across various sectors such as highway and railway construction, serving end-users such as government agencies, private contractors, and public-private partnerships.
The aggregate in road construction market research report is one of a series of new reports from The Business Research Company that provides aggregate in road construction market statistics, including aggregate in road construction industry global market size, regional shares, competitors with a aggregate in road construction market share, detailed aggregate in road construction market segments, market trends and opportunities, and any further data you may need to thrive in the aggregate in road construction industry. This aggregate in road construction market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The aggregate in road construction market size has grown rapidly in recent years. It will grow from $735.36 billion in 2023 to $828.16 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth during the historic period can be attributed to factors such as increased urbanization, population growth, economic development, industrialization, and the rise in vehicle ownership.
The aggregate in road construction market size is expected to see rapid growth in the next few years. It will grow to $1339.87 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The projected growth in the forecast period can be driven by smart city initiatives, stricter environmental regulations, increased adoption of green construction practices, growth in public-private partnerships, and urban densification trends. Key trends expected during this period include increased automation in construction processes, the adoption of 3D printing technologies for road building, the integration of smart road infrastructure, the expansion of electric vehicle charging networks, and a heightened focus on reducing carbon emissions in construction.
The rise in road transportation is expected to drive the expansion of the aggregate in road construction market. Road transportation refers to the movement of people and goods through vehicles on roadways and encompasses various modes of transportation. This increase is attributed to factors such as rising car ownership, technological advancements, improvements in road infrastructure, urbanization, regulatory policies, and the growing need for faster delivery of goods as urban areas expand. Aggregate materials enhance road durability, load-bearing capacity, and infrastructure quality, enabling the development of larger and more efficient road networks. For instance, in May 2024, the UK Department for Transport reported that between 2022 and 2023, car traffic on Great Britain's 'A' roads rose by 3.3% to 111.6 billion vehicle miles, and van traffic increased by 1.0% to 24.3 billion vehicle miles. Consequently, the surge in road transportation is fueling the growth of the aggregate in road construction market.
Leading companies in the aggregate in road construction market are focusing on the development of innovative products such as carbon-neutral asphalt materials to align with Aggregate Industries' commitment to reducing emissions and achieving net-zero construction. Carbon-neutral asphalt is designed to either eliminate or offset carbon emissions, resulting in a net-zero environmental impact in terms of carbon dioxide. For example, in March 2024, AGGREGATE Industries, a UK-based construction materials company, introduced Foamix Eco, a carbon-neutral, cold-lay asphalt containing a high percentage of recycled materials. This innovation reduces reliance on virgin resources and minimizes energy consumption during production, while also promoting on-site recycling, lowering HGV movements, and decreasing the carbon footprint, offering a cost-effective, eco-friendly solution that supports net-zero construction objectives.
In June 2024, Aggregate Industries, a UK-based construction and building materials company, acquired Land Recovery Ltd. for an undisclosed amount. This acquisition positions Aggregate Industries to strengthen its role as a leader in the construction and building materials sector by offering high-quality products and sustainable solutions. Land Recovery Ltd. is a UK-based provider of primary and recycled materials, including aggregates for road construction.
Major companies operating in the aggregate in road construction market are Holcim Group, CRH plc, CEMEX S.A.B. de C.V., Vulcan Materials Company, Terex Corporation, Buzzi S.p.A., Arcosa Inc., Boral Limited, Breedon Group plc, LSR Group, Adbri Limited, Rogers Group Inc, Carmeuse, Norlite LLC, Eagle Materials Inc., Sully-Miller Contracting Co., Titan America LLC, Stalite Lightweight Aggregate, Salt River Materials Group, Liapor Group, Okanagan Aggregates, Wharehine Construction, Rock Road Companies Inc.
North America was the largest region in the aggregate in road construction market in 2023. The regions covered in the aggregate in road construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the aggregate in road construction market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The aggregate in road construction market consists of sales of recycled asphalt pavement (RAP), basalt aggregates, slag aggregates, pumice aggregates, and sandstone aggregates. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Aggregate In Road Construction Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on aggregate in road construction market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for aggregate in road construction ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The aggregate in road construction market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.