PUBLISHER: The Business Research Company | PRODUCT CODE: 1597035
PUBLISHER: The Business Research Company | PRODUCT CODE: 1597035
Construction aggregate encompasses a wide range of coarse to medium-grained materials utilized in construction, including sand, gravel, crushed stone, slag, and recycled concrete. These materials are combined with cement, lime, or bitumen to create concrete or asphalt, which provides structural strength, stability, and durability for various construction projects such as roads, bridges, buildings, and foundations.
The primary types of construction aggregates include sand, gravel, crushed stone, and other materials. Sand is a fine aggregate composed of small, naturally occurring granular particles, primarily made up of mineral and rock fragments. It is commonly used in construction for applications such as concrete production, masonry, road base, and landscaping. These aggregates are transported via various modes, including truck, train, and ship, and are predominantly employed in residential, commercial, infrastructure, and industrial applications.
The construction aggregate market research report is one of a series of new reports from The Business Research Company that provides construction aggregate market statistics, including construction aggregate industry global market size, regional shares, competitors with a construction aggregate market share, detailed construction aggregate market segments, market trends and opportunities, and any further data you may need to thrive in the construction aggregate industry. This construction aggregate 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 construction aggregate market size has grown strongly in recent years. It will grow from $380.75 billion in 2023 to $405.61 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth observed during the historical period can be attributed to several key factors, including rising construction activities, an increase in the use of recycled aggregates and sustainable practices, enhanced infrastructure development, growing tourism activities, and a rising population.
The construction aggregate market size is expected to see strong growth in the next few years. It will grow to $524.38 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The projected growth during the forecast period can be attributed to several factors, including increasing urbanization, rising disposable incomes, enhanced smart city initiatives, growing government spending on public infrastructure, and heightened demand for residential and commercial buildings. Key trends anticipated during this period include advancements in sustainable construction practices, a rising adoption of smart construction technologies, the expansion of green building regulations, a heightened focus on reducing carbon emissions, and technological innovations in aggregate production.
The anticipated growth in the construction aggregate market is driven by infrastructure development and urbanization trends. Infrastructure development encompasses the creation and expansion of essential facilities and systems, including transportation and utilities, to support a growing population and the evolving demands of increasingly urbanized regions. Key factors propelling infrastructure development and urbanization include rising population levels, demographic shifts towards urban centers, economic growth, and the heightened demand for improved infrastructure and public services. Construction aggregates, which consist of vital materials such as sand, gravel, and crushed stone, are essential for the construction of roads, bridges, and buildings, thereby facilitating the expansion and modernization of urban areas to accommodate increasing population and economic needs. According to The World Bank, data published in April 2023 indicates that approximately 56% of the global population, equating to 4.4 billion people, lived in urban areas in 2023. This trend is expected to persist, with forecasts suggesting that nearly 70% of the world's population will reside in cities by 2050. As such, infrastructure development and urbanization significantly contribute to the growth of the construction aggregate market.
Leading companies in the construction aggregate sector are concentrating on the development of innovative solutions, such as sustainable construction ecosystems, which aim to establish new global benchmarks for sustainable building materials by minimizing carbon emissions and fostering circularity. Sustainable construction ecosystems encompass the interconnected processes, materials, and stakeholders in the construction industry that prioritize environmental stewardship, resource efficiency, and long-term ecological balance throughout the construction lifecycle. For example, in January 2024, Heidelberg Materials, a Germany-based building materials company, introduced evoBuild, a new global brand designed to promote low-carbon and circular construction materials. This initiative features globally standardized criteria that mandate a minimum of 30% reduction in CO2 emissions or 30% recycled content in its products. The importance of this initiative lies in enhancing transparency, advancing sustainability, and aligning Heidelberg Materials' offerings to achieve 50% of its revenue from sustainable products by 2030.
In October 2022, Holcim Limited, a Switzerland-based building materials company, acquired Wiltshire Heavy Building Materials Ltd. for an undisclosed sum. This acquisition aims to bolster Holcim's leadership in circular construction by integrating Wiltshire's advanced recycling systems and expertise. This integration will enhance Holcim's capacity to convert construction and demolition waste into sustainable building materials, supporting its objective of significant growth in waste recycling initiatives. Wiltshire Heavy Building Materials Ltd. is a UK-based company specializing in construction and building materials, including construction aggregates.
Major companies operating in the construction aggregate market are Holcim Group, CRH plc, China National Building Material Co. Ltd, Colas Group, Siam Cement Group (SCG), CEMEX S.A.B. de C.V., Heidelberg Materials AG, EUROVIA Kamenolomy AS, Sika AG, Vulcan Materials Company, Martin Marietta Materials Inc., Fletcher Building, Buzzi S.p.A., Boral Limited, Tarmac, LSR Group, Adbri Limited, Rogers Group Inc, Carmeuse, CEMROS, Eagle Materials Inc., SRC Group, Meyer Industrial Solutions
Asia-Pacific was the largest region in the construction aggregate market in 2023. The regions covered in the construction aggregate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the construction aggregate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The construction aggregate market consists of sales of products such as concrete, asphalt, road base, pavers, drainage materials, and road base. 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.
Construction Aggregate 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 construction aggregate 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 construction aggregate ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The construction aggregate 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.