February 21, 2024
Construction Aggregates Market

The Resurgent Construction Industry Is Driving the Growth of the Construction Aggregates Market

The construction aggregates market consists of crushed stone, sand, gravel, and recycled concrete used in construction industry. Main applications of construction aggregates include concrete production, road base and coverings, and asphaltic concrete and others. Rise in residential, non-residential, and infrastructure development projects is fueling the demand for construction aggregates globally. Growing construction of roads, highways, bridges, railways and other infrastructure projects in emerging economies is positively impacting the market growth. The construction aggregates are fundamental requirement in the construction industry and play a vital role in the functioning and durability of infrastructure. With the increasing population and rapid urbanization, there is a growing need for housing and infrastructure development which is driving the global construction aggregates market.

The global construction aggregates market is estimated to be valued at US$ 608.36 Bn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends in the construction aggregates market is growing popularity of recycled construction aggregates. With the increased focus on sustainability and circular economy, use of recycled construction aggregates are gaining significance. Recycled construction aggregates are produced from construction and demolition waste, which helps in reducing the landfill waste. Moreover, it lessens the burden on virgin sand and gravel extraction. Various government policies and initiatives are also encouraging greater use of recycled aggregates. For instance, the European Commission has set a target of achieving 70% construction and demolition waste recycling rate by 2020. This is expected to significantly boost the recycled construction aggregates market during the forecast period.

Porter’s Analysis
Threat of new entrants: The threat is moderate as the construction aggregates market requires large capital investments to start production and it has an established distribution network.

Bargaining power of buyers: Buyers have low bargaining power as there are many suppliers in the market offering variety of products at competitive prices.

Bargaining power of suppliers: Aggregates suppliers have moderate to high bargaining power as raw materials require suppliers with large land holdings and equipment.

Threat of new substitutes: The threat is low as construction aggregates have few substitutes and are an essential raw material for concrete and asphalt.

Competitive rivalry: The market is diversified with key global players.

Key Takeaways
The Global Construction Aggregates Market Demand is expected to witness high growth. The global congenital hyperinsulinism treatment market is estimated to be valued at US$ 250.84 Bn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Asia Pacific accounting for largest share currently and expected to dominate during forecast period. Europe holds significant share currently led by countries like Germany and U.K. North America is another major regional market led by U.S. while rapid urbanisation and infrastructure projects in developing economies driving growth in Asia Pacific and Middle East & Africa.

Key players operating in the Construction Aggregates market are Sika Ag, Trelleborg Ab, Henkel Ltd., Flexcon Company, Inc, Nitto Denko Corporation, Pyrotek Inc. These key players are focusing on new product launches and partnerships to gain higher market share.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it