Construction Aggregates Market Size Trends And Growth Analysis
Construction aggregates include crushed stone, sand, gravel, and recycled concrete. These materials are essential raw materials for use in construction activities such as buildings, roads, bridges, canals, and other infrastructure projects. Aggregates constitute the major raw material for concrete production and are widely used in residential and non-residential construction. The growing construction sector globally driven by urbanization and industrialization has resulted in increased demand for construction aggregates.
The global construction aggregates market is estimated to be valued at US$ 480 billion in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the construction aggregates market are LafargeHolcim Ltd., CEMEX S.A.B. de C.V., HeidelbergCement AG, CRH plc, Vulcan Materials Company, Martin Marietta Materials Inc., Eurocement Holding AG, and Adelaide Brighton Ltd. Key players are focusing on capacity expansion, mergers & acquisitions and product portfolio expansion to gain a competitive advantage in the market.
The increasing infrastructure development projects worldwide offer lucrative opportunities for growth of the Construction Aggregates Market Demand Government initiatives for development of roads, rail networks, affordable housing, and commercial real estate will drive the demand.
Asia Pacific region is expected to witness the fastest growth owing to huge infrastructure development plans in major countries such as China and India. Major players are expanding their production facilities in developing Asian countries to leverage the high growth potential.
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