Construction aggregates are inert granular material such as gravel, sand, and crushed stones, which are used with a binding medium such as lime, water and portland cement, and others to form compound materials such as concrete and asphalt concrete. Growing infrastructural and residential sectors are expected to drive growth of the construction aggregates market over the forecast period. According to the office for National Statistics, the value of construction new work was US$ 114,977.3 million and is expected to grow continuously, owing to growing private sector.
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Among product type, the crushed stones segment is expected to account for a significant market share over the forecast period. According to U.S. Department of the Interior, U.S. Geological Survey, in U.S., the total of 1.33 billion metric tons of crushed stones was produced for consumption in 2015.
Among end-use industry, the residential segment is expected to account for a significant revenue share over the forecast period. This is attributed to growing residential construction. According United States Census, the value of residential construction was US$ 560,088 million.
The construction aggregates market was valued at US$ 358.80 Bn in 2016 and is expected to expand at a CAGR of 6.3%, in terms of revenue, during 2017 – 2025.
Major Players in the Global Construction Aggregates Market
Some of the key players operating in the global construction aggregates market include Vulcan Materials Company, PJSC LSR Group, Heidelberg Cement AG, LafargeHolcim Ltd, Martin Marietta Materials, Inc., CEMEX S.A.B. de C.V., Eurocement Holding AG, CRH plc., Adelaide Brighton Cement Ltd., and Rogers Group Inc.
Asia Pacific is one of the major contributors to the construction aggregates market, owing to constantly growing construction industry in emerging economies such as India and China. According to India Brand Equity Foundation (IBEF), the Indian construction industry is expected to be valued at US$ 5 billion by 2020.
Various manufacturers are focused on organic and inorganic growth strategies such as mergers, acquisition, and joint venture in order to enhance their global presence. For instance, in January 2018, Vulcan Materials Company, one of the key player in construction aggregates market, acquired Aggregates USA, llc to expand their footprint in Florida, South Carolina and Georgia.
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