The global construction aggregates market size anticipated in 2022 was US$ 382.4 billion and is estimated to be US$ 395.67 billion in 2023. The global industry holds significant value due to ongoing innovations in the construction sector, a rise in tourism activities, and rapid growth in the residential sector are important factors anticipated to support the development of the construction aggregates market to a significant extent.
Future Market Insights has mentioned in its reports that the construction aggregates market is anticipated to expand at a CAGR of 4.86% between 2023 and 2033, totaling around US$ 636.46 billion by 2033.
Concrete aggregates provide strength to structures and help in reducing cracks. Growth in the tourism industry has been informed by the rise in investments in the development of competitive projects are anticipated to drive market growth.
Innovations in technologies are done so that aggregate production can substitute the efficiency of the manufacturing process and productivity with high-quality products which might thus, push the global construction aggregates market growth during the forecast period.
The inception of Building Information Modelling (BIM) is said to accompany digital transformation in the construction sector where the BIM supports, in terms of time management, cost planning, waste reduction, and overall project performance improvement, henceforth, driving market growth.
Future Market Insights (FMI) study says the increasing use of recycled construction aggregates, coupled with an investment toward infrastructural expansion in Asia Pacific, Europe, and North America are shaping the construction aggregates demand outlook.
| Attributes | Details |
|---|---|
| Projected Forecast Value (2022) | US$ 382.4 billion |
| Projected Forecast Value (2023) | US$ 395.67 billion |
| Projected Forecast Value (2033) | US$ 636.46 billion |
| Growth rate | 4.86% CAGR |
| Forecast period | 2023 to 2033 |
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The global construction aggregates market grew at a CAGR of 3.2% between 2018 and 2022. Growth forecasts remain optimistic, with the market predicted to exhibit a CAGR of 4.86% between 2023 and 2033.
Demand for construction aggregates is considered to be at 3.8% CAGR in 2016-2020. The continued decline in construction activities dampened growth prospects to an extent. The trend continued until 2020, as the unprecedented outbreak of COVID-19 caused supply-chain disruptions.
Increasing investments by the governments to support the development of residential and commercial projects are likely to fuel market growth. As per the Construction Aggregates Market study, the United States, the Netherlands, France, Spain, Malaysia, and India are going to emerge as key producers in the construction aggregates market.
Recovery of Residential Projects is Driving Construction Aggregates Market Sales
Fast-paced urbanization and the influx of population have provided the 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 for residential construction. For example,
United States Department of Agriculture (USDA) assists rural citizens with homeownership, repair, and renovation programs. Department also provides financing to elderly, disabled, and low-income residents while aiding them to manage rent payments. Further, USDA works with private and public organizations to provide financial aid for the construction and repair of rural and multi-family housing complexes.
United States Census Bureau recorded US$ 751.7 billion expenditure in the residential sector in May 2021 as these numbers hint toward the rapid expansion of residential projects, which might further result in high demand for construction aggregates in the upcoming years.
Principal Consultant
Technology has transformed most crucial operations in various domains, including the construction industry.
Digital transformation in this industry is widely known as Construction 4.0, which, as a term, encompasses the usage of connectivity for real-time decision-making and streamlining operational management. This approach has allowed construction companies and the workforce to adopt a technology framework that is going to help them to meet the industry's current challenges.
The introduction of Building Information Modeling (BIM) is significantly supporting digital transformation in the construction sector. BIM assists with time management, cost planning, sustainability in raw material usage, waste reduction, and improved overall project performance. Moreover, driven by these factors, the construction sector is anticipated to witness many developments, which in turn might promote sales of construction aggregates during the assessment period.
Increasing usage of natural sand in construction activities has resulted in the depletion of natural sand from riverbeds. Continuous global sand mining activities have led to the implementation of stringent environmental and land use legislation, making extraction of natural sand difficult and expensive.
Natural sand has inherently high silt and clay content which makes it difficult to mix with concrete if not processed properly. Besides this, high-quality sand pits are often located in remote locations and lead to high costs in transportation.
Factors are encouraging contractors to actively replace natural sand with manufactured sand. Manufactured sand is produced by crushing rocks and quarry stones into fine, sand-size particles. Further, low-value aggregates obtained from by-products of rock crushing can be effectively turned into high-value manufactured sand.
Manufactured sand is cost-effective as compared to natural sand as it is produced in areas near construction sites. This brings down the cost of transportation and promotes a consistent supply.
Manufactured sand has denser particle packaging than natural sand and is free of silt and clay. Further, properties make manufactured sand exhibit high flexural strength, better abrasion resistance, and high unit weight.
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Large Transportation Costs are Said to Cause Barriers
Transportation of construction aggregates is not a difficult affair; however, the high weight and volume of these materials can increase the cost associated with transportation.
Sand and gravel reserves are depleting across the world, and illegal mining has hampered the supply of these types of construction aggregates. Furthermore, strict mining laws across several countries have resulted in a spike in product prices, which might impact growth prospects in the market.
Infrastructural Developments Continue to Support Construction Aggregates Sales in the United States
North America is said to hold a market share of 42% whereas the United States is estimated to capture a market share of 26.8%
According to FMI’s analysis, the construction aggregation market in the United States is likely to continue to expand at a steady pace owing to investments by governments toward the expansion of roadways and infrastructure.
The spreading of the novel coronavirus, in construction activities in the United States, temporarily suspended construction, resulting in a downward trend in market growth with an expedited vaccination process and increasing adoption of technological advancements in the country, growth is anticipated to pick up pace in the upcoming years.
United States Department of Transportation has announced US$ 905.25 million 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.
Government initiatives taken that are coupled with a high adoption rate of connective technology in the construction sector are anticipated to propel sales of construction aggregates in the country.
Presence of Leading Market Players in Germany
The construction aggregates market in the United Kingdom is projected to expand at a CAGR of 4.33% whereas Germany is said to hold a major share in its region consisting of a market share of 16.2%
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.
Resumption of international travel, an influx of tourists and students in the country is expected to increase in the coming years fueling the need for accommodation, thereby, creating prospects for the construction of hotels and resorts in the country. These developments are expected to bode well for the construction aggregates market in the forthcoming years too.
The Rise in Per Capita Income of the Population makes China to be the Leading Market
The construction aggregates market in China is anticipated to reach a market valuation of US$ 143.3 billion, owing to increasing urbanization and industrialization in the country with a CAGR of 3.88%.
Rising per capita income, coupled with population migration from rural to urban areas might spur demand for residential facilities. Further, expansions in healthcare infrastructure have also raised the requirement for building hospitals and healthcare facilities in the country, which might further promote sales of construction Aggregates.
Residential projects, and infrastructural projects such as roadways, railways, and basic roads in rural areas are anticipated to generate demand for construction aggregates in the forthcoming years.
Stringent mining laws in the country are promoting the adoption of sustainable construction aggregates as these factors are creating key opportunities for market players to incorporate product innovations and expand production facilities in the country.
Rapid Urbanization and Modernisation in India are Predicted to Raise the Sales of the Construction Aggregates Market
Rapid urbanization in the country, where FMI projects a positive growth outlook for the construction aggregates market. Expansion of the railway and roadways network in the country is estimated to propel sales of construction aggregates.
Asia Pacific holds an important position in this market sector with a share of 20.3% whereas India’s market is said to rise notably at a growth rate of 5.3%
The presence of various local players operating in the market is ensuring an adequate supply of construction aggregates while actively promoting construction activities as this factor also has created prospects for the entry of global players.
Crushed Stone to said to have a Dominant Position
The easy availability and cost-effectiveness of crushed stone will facilitate wider adoption in the construction sector. Crushed stone is used for making cement, which is an integral binding agent in the construction sector with a growth rate of 4.2%
Expansion of the housing sector across several counties including India, China, and the United States might result in the utilization of cement in large quantities. The abundant supply and impressive mechanical properties of crushed stone are estimated to propel sales in the market.
Applications in Infrastructure are said to Hold a Leading Position
The infrastructure segment is expected to generate maximum revenue in the construction aggregates market with a share of 33%. Moreover, growth in the infrastructural sector can be attributed to urbanization and industrialization, which has underpinned the need for various projects such as the construction of bridges, expressways, and roadways. Further, upward trends in such projects are likely to boost sales of construction aggregates during the assessment period.
Prominent Players Working in the Global Market
Important Developments of the Key Players in the Market
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.86% from 2023 to 2033 |
| Market value in 2023 | US$ 395.67 billion |
| Market value in 2033 | US$ 636.46 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | US$ billion for Value and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customisation Scope | Available on Request |
The market is valued at US$ 395.6 billion in 2023.
The market is estimated to exhibit a 4.8% CAGR.
LSR Group and Cemex SAB de CV ADR are the top market players.
Recovery of residential projects to boost the market prospects.
The market registered a CAGR of 3.2% from 2018 to 2022.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Product Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Product Type, 2023 to 2033
5.3.1. Crushed Stone
5.3.2. Sand
5.3.3. Gravels
5.4. Y-o-Y Growth Trend Analysis By Product Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Product Type, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Application Type, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Application Type, 2023 to 2033
6.3.1. Commercial
6.3.2. Residential
6.3.3. Industrial
6.3.4. Infrastructure
6.4. Y-o-Y Growth Trend Analysis By Application Type, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Application Type, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Western Europe
7.3.4. Eastern Europe
7.3.5. South Asia and Pacific
7.3.6. East Asia
7.3.7. Middle East and Africa
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. U.S.
8.2.1.2. Canada
8.2.2. By Product Type
8.2.3. By Application Type
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Product Type
8.3.3. By Application Type
8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Product Type
9.2.3. By Application Type
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Product Type
9.3.3. By Application Type
9.4. Key Takeaways
10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. U.K.
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Western Europe
10.2.2. By Product Type
10.2.3. By Application Type
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Product Type
10.3.3. By Application Type
10.4. Key Takeaways
11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Poland
11.2.1.2. Russia
11.2.1.3. Czech Republic
11.2.1.4. Romania
11.2.1.5. Rest of Eastern Europe
11.2.2. By Product Type
11.2.3. By Application Type
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Product Type
11.3.3. By Application Type
11.4. Key Takeaways
12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Bangladesh
12.2.1.3. Australia
12.2.1.4. New Zealand
12.2.1.5. Rest of South Asia and Pacific
12.2.2. By Product Type
12.2.3. By Application Type
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Product Type
12.3.3. By Application Type
12.4. Key Takeaways
13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.2. By Product Type
13.2.3. By Application Type
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Product Type
13.3.3. By Application Type
13.4. Key Takeaways
14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Product Type
14.2.3. By Application Type
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Product Type
14.3.3. By Application Type
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. U.S.
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2022
15.1.2.1. By Product Type
15.1.2.2. By Application Type
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2022
15.2.2.1. By Product Type
15.2.2.2. By Application Type
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2022
15.3.2.1. By Product Type
15.3.2.2. By Application Type
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2022
15.4.2.1. By Product Type
15.4.2.2. By Application Type
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2022
15.5.2.1. By Product Type
15.5.2.2. By Application Type
15.6. U.K.
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2022
15.6.2.1. By Product Type
15.6.2.2. By Application Type
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2022
15.7.2.1. By Product Type
15.7.2.2. By Application Type
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2022
15.8.2.1. By Product Type
15.8.2.2. By Application Type
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2022
15.9.2.1. By Product Type
15.9.2.2. By Application Type
15.10. Poland
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2022
15.10.2.1. By Product Type
15.10.2.2. By Application Type
15.11. Russia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2022
15.11.2.1. By Product Type
15.11.2.2. By Application Type
15.12. Czech Republic
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2022
15.12.2.1. By Product Type
15.12.2.2. By Application Type
15.13. Romania
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2022
15.13.2.1. By Product Type
15.13.2.2. By Application Type
15.14. India
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2022
15.14.2.1. By Product Type
15.14.2.2. By Application Type
15.15. Bangladesh
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2022
15.15.2.1. By Product Type
15.15.2.2. By Application Type
15.16. Australia
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2022
15.16.2.1. By Product Type
15.16.2.2. By Application Type
15.17. New Zealand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2022
15.17.2.1. By Product Type
15.17.2.2. By Application Type
15.18. China
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2022
15.18.2.1. By Product Type
15.18.2.2. By Application Type
15.19. Japan
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2022
15.19.2.1. By Product Type
15.19.2.2. By Application Type
15.20. South Korea
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2022
15.20.2.1. By Product Type
15.20.2.2. By Application Type
15.21. GCC Countries
15.21.1. Pricing Analysis
15.21.2. Market Share Analysis, 2022
15.21.2.1. By Product Type
15.21.2.2. By Application Type
15.22. South Africa
15.22.1. Pricing Analysis
15.22.2. Market Share Analysis, 2022
15.22.2.1. By Product Type
15.22.2.2. By Application Type
15.23. Israel
15.23.1. Pricing Analysis
15.23.2. Market Share Analysis, 2022
15.23.2.1. By Product Type
15.23.2.2. By Application Type
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Product Type
16.3.3. By Application Type
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Heidelberg Cement AG
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.2. Martin Marietta Materials Inc
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.3. LSR Group
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.4. LafargeHolcim Ltd.
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.5. Cemex SAB de CV ADR
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.6. Vulcan Materials Company
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.7. CRH plc
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.8. Adelaide Brighton Ltd.
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.9. Eurocement Group
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.10. ROGERS GROUP INC.
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Construction Aggregates Market
