NEWARK, Del, July 18, 2022 (GLOBE NEWSWIRE) -- Construction Aggregates Market valuation will top US$ 664.6 Bn, and it is expected to exhibit a healthy 6.8% CAGR between 2021 and 2031. As per a Future Market Insights (FMI) study, the increasing use of recycled construction aggregates, coupled with an investment towards infrastructural expansion in the Asia Pacific, Europe, and North America are shaping the construction aggregates demand outlook.
FMI has projected the demand to surge at an impressive 6.8% CAGR between 2021 and 2031 backed by the recovery of construction activities, especially in emerging economies. Increasing investments by the governments to support the development of residential and commercial projects will fuel market growth.
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Key Takeaways
- Fast-paced urbanization and the influx of population have provided an impetus to construction activities globally, subsequently causing construction aggregates sales to uptick.
- Population migration from rural to urban areas has compelled governments across various countries to offer incentives to residential construction, resulting in spurring sales in the construction aggregates market.
- Digital transformations in the construction industry introduced a new approach that has allowed key construction companies and the workforce to adopt a technology framework that will help them to meet the industry's current challenges.
- The introduction of Building Information Modeling (BIM) is rapidly supporting digital transformation in the construction sector. BIM provides assistance with time management, cost planning, sustainability in raw material usage, reduction in waste, and improved overall project performance.
- As per FMI’s analysis, the construction aggregation market in the U.S. will continue expanding at a steady pace owing to investments by governments towards the expansion of roadways and infrastructure.
Competitive Landscape
Heidelberg Cement AG, Martin Marietta Materials Inc, LSR Group, LafargeHolcim Ltd., Cemex SAB de CV ADR, Vulcan Materials Company, CRH plc, Adelaide Brighton Ltd., Eurocement Group, ROGERS GROUP INC. are some of the key companies profiled in the full version of the report.
As per FMI's market survey, prominent players are focusing on production facility expansions and product innovations to develop sustainable construction aggregates. Along with product innovations, players are aiming at strategic partnerships with regional players to strengthen their geographical footprint in the market.
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Construction Aggregates Market by Category
By Product Type:
- Crushed Stone
- Sand
- Gravels
By Application Type:
- Commercial
- Residential
- Industrial
- Infrastructure
More Insights into the Construction Aggregates Market
The US will dominate the construction aggregation market as per the FMI’s analysis. Owing to the investments by governments toward the expansion of roadways and infrastructure in the US, a steady pace in the construction aggregates market is visible.
The U.S. Department of Transportation has announced US$ 905.25 Mn in proposed rewards for FY 2021. These funds are allocated for the development of 24 projects in 18 states that come under the Infrastructure for Rebuilding America (INFRA) grant program.
Germany has emerged as a leading construction aggregates market in Europe. The presence of leading market players and expansion in infrastructure, particularly hotels and resorts are anticipated to shape the growth outlook for the market in Germany.
The construction aggregates market in China is anticipated to reach a market valuation of US$ 143.3 Bn in 2021, owing to increasing urbanization and industrialization in the country. Besides residential projects, infrastructural projects such as roadways, railways, and basic roads in rural areas are anticipated to generate demand for construction aggregates in China.
With rapid urbanization in the country, FMI projects a positive growth outlook for the construction aggregates market between 2021 and 2031. Expansion of the railway and roadways network in the country will propel sales of construction aggregates.
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Table of Content
1. Global Construction Aggregates - Executive Summary
2. Research Methodology
3. Assumptions and Acronyms Used
4. Global Construction Aggregate Market Overview
4.1. Introduction
4.1.1. Global Construction Aggregate Market Definition
4.1.2. Global Construction Aggregate Market Taxonomy
4.1.3. Global Construction Aggregate Product Overview
4.1.4. Marine Aggregates
4.1.5. How Aggregates Are Made
4.1.6. Construction Aggregates Importers and Exporters
4.2. Macroeconomic Overview
4.2.1. Construction Industry Growth
4.2.2. Real Estate Growth
4.2.3. Cement Consumption
4.2.4. Urbanization Growth Rate
Click Here for Construction Aggregates Market 209 pages TOC Report
About FMI- Chemicals and Materials
The Chemicals and Materials division of FMI offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, speciality, and petrochemicals to advanced materials, composites, and nanotechnology, with special emphasis on ‘green alternatives, recycling and renewable technology developments, supply-demand-trade assessment.
Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
Have a Look at Related Research Reports of Chemical & Materials:
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Construction Polymer Market Trends: The global construction polymer market will garner a market valuation of US$ 229,076 Mn in 2022 and is predicted to expand at a CAGR of 6.8% and reach a net worth of US$ 298,384 Mn by the end of 2026.
Road Aggregates Market Outlook: Aggregates are the major component that are used in road construction among all other materials. It is normally used as a base layer for road construction.
Recycled Glass Aggregates Market Growth: Over the past few years, the construction industry has shifted its focus to the environmental impact of many construction materials used in the global market.
Road Aggregates Market Sales: Aggregates are the major component that are used in road construction among all other materials. It is normally used as a base layer for road construction.
Chlorinated Polyethylene Market Value: The chlorinated polyethylene market is predicted to witness an impressive CAGR of 7.2% over the forecasted period of 2022 to 2032.
Propylene Carbonate Market Analysis: The global propylene market was valued at around US$ 239.6 Mn in 2021, registering Y-O-Y growth of 5.0% for the same year.
Acrylic Acid Market Demand: The acrylic acid market is anticipated to register a CAGR of 4.5% during the period of 2022-2032. The acrylic acid market is anticipated to reach US$ 22.6 Billion in 2032, from US$ 14.6 Billion in 2022.
Ammonium Carbonate Market Type: The global ammonium carbonate market is projected to reach US$ 688 Mn in 2022. As per the report, sales of ammonium carbonate will grow at a 5.2% CAGR over the assessment period.
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