by The construction aggregates market consists of crushed stone, sand, gravel, and recycled concrete which are used as raw materials in construction activities such as building and road infrastructure development. Construction aggregates form the basic structure or foundation of buildings and infrastructure projects owing to their strength and durability properties.
The global construction aggregates market is estimated to be valued at US$ 528.09 Bn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing infrastructure and construction industry has been a key driver for the construction aggregates market. Rapid urbanization and industrialization in developing countries has increased the demand for infrastructure projects such as roads, bridges, housing as well as commercial and industrial buildings. The availability of construction aggregates is crucial to meet this growing demand. Furthermore, government initiatives focused on developing transportation and communication networks have also contributed to the growth of the construction aggregates market.
SWOT Analysis
Strength: The construction aggregates market is driven by increased infrastructure development and construction activities globally. Growing urbanization is also driving demand.
Weakness: Fluctuations in raw material prices can impact production costs. Strict environmental regulations around quarrying can increase costs.
Opportunity: Investments in smart city projects and renewable energy infrastructure will open new opportunities. Developing regions in Asia and Africa will see rapid growth in construction.
Threats: Economic slowdowns can negatively impact construction spending. Trade barriers and regulations across regions pose risks.
Key Takeaways
The Global Construction Aggregates Market Size is expected to witness high growth over the forecast period of 2023 to 2030 supported by increased investments in infrastructure development worldwide.
Regional analysis: The Asia Pacific region currently dominates the global construction aggregates market and is expected to maintain its lead through 2030 driven by robust construction activities in major economies like China and India. Countries like India, Philippines, Indonesia, and Vietnam are expected to see particularly fast growth. The construction industry in developed regions like North America and Europe is also growing steadily, supported by investments in road and railway projects.
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 industry is moving towards consolidation as large players acquire smaller competitors to gain regional footprint. Innovation around lightweight and recycled aggregates is opening new product categories.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
