The global road aggregates market is projected to have an average-paced CAGR of 6.8% during the forecast period. The current valuation of the market is US$ 367.70 billion in 2022. The market value of the road aggregates market is anticipated to reach a high of US$ 709.91 billion by the year 2032. A historical market valuation of US$ 344.29 billion has been recorded in the analysis conducted by Future Market Insights.
The road aggregates market is identified to witness an unprecedented surge in recent years owing to surging demand from the construction sector, leveraging the strength of the concrete, along with toughness and stiffness for the roads. The new and expanded highways are largely making use of road aggregates as there is an increased investment in highways.
The manufacturers in the road aggregates market are leveraging advancements in technology to launch new products and gain a competitive advantage. These firms are continually investing in research and development activities to keep themselves in tandem with the changing commercial preferences and end-use industry demands. Efforts are being made to strengthen their foothold in the forum and aid the further progression of the shawarma grill machines market.
FMI has analyzed that fast-paced urbanization and the influx of population have provided an impetus to construction activities globally, subsequently causing road aggregates sales to uptick, and the market is likely to continue expanding at a steady pace owing to investments by governments for the expansion of roadways and infrastructure.
Research and development grants are being provided to road aggregate suppliers across developing countries with cost planning to improve overall project performance.
Initiatives are being taken by the new entrants in the market as well. The start-up firms in the road aggregates market are indulged in rigorous R&D activities to study how construction and demolition materials can be recycled for road aggregates.
Recently a number of biggies are announcing the acquisition of new floating bucket chain dredgers, which is likely to boost their gravel production across emerging economies and is a large investment for the forthcoming years, owing to the highway construction segment accounting for a market valuation of US$ 98.3 billion in the base year.
Risk management collaborative approaches are being undertaken by the key players proliferating in the road aggregates market to identify hazards and ensure that actions are in place to mitigate identified risks. Stringent regulations are at par with the new road construction projects imposed by the governments of various countries across geographies. Despite this aspect, the road aggregates market is anticipated to witness substantial growth throughout the estimated period of study.
| Report Attribute | Details |
|---|---|
| Road Aggregates Market Value (2022) | US$ 367.70 billion |
| Road Aggregates Market Anticipated Value (2032) | US$ 709.91 billion |
| Road Aggregates Projected Growth Rate (2022 to 2032) | 6.8% |
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. Road Aggregates are the granular materials such as gravel, limestone, crushed rock that are used along with water, cement for their final application on roads.
Road aggregates finds its application in construction of road over bridges, bypasses, flyover, stand-alone roads, tunnels, underpasses, and others. As there is surge for new road projects, the road aggregate market is expected to gear up in the coming years.
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The global road aggregates market is projected to witness a moderate growth from 2015 to 2025. According to FMI forecasts, the market in Asia-Pacific region is expected to grow at fastest CAGR in the coming years. Western Europe and North America are the matured market for global road aggregates market.
Investments in new and improved roads is accelerating the growth of road aggregates market. Aggregates are consumed in large quantities to meet the repairs & maintenance as well as the new road construction projects and other infrastructure development activities.
It also includes many different grades of sand and gravel which vary in their geologic origin and in their processing techniques such as crushing, screening and washing. The product type is manufactured as per the engineering specifications required for the road projects.
Aggregate is not only used in the construction of new highways, but also in reconstruction, rehabilitation and widening already existing highways. Road standards are changing overtime, modifications in aggregate specifications have led to increased usage of percentages of stone, with greater amount of crushed particles.
These changes have resulted in more aggregate being laid down on highways. All these factors together drive the road aggregates market during the forecast period.
Principal Consultant
The restraints that are hindering the growth of global road aggregate market includes factors such as high cost of transport and environmental effects of the supply of aggregates.
Key players in the global road aggregates market focus on product innovation and introduction of new product grades in order to outperform competitors. Investment on research and development to provide high quality and different grades of road aggregates as per the changed aggregate specifications is also a major strategy that is followed by major players in the global road aggregates market.
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Some of the major players identified in the global road aggregates market are LafargeHolcim Group, Wharehine, Aggregate Industries, Okanagan Aggregates Ltd., Rock Road Companies Inc., Kuari Pati Sdn Bhd, Hanlon Concrete, etc.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
Global road aggregates market is segmented into type, application, and region.
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Road Aggregates Market
