USD 507.46 billion
Report ID:
SQMIG15F2082 |
Region:
Global |
Published Date: December, 2024
Pages:
157
|Tables:
93
|Figures:
76
Global Aggregates Market size was valued at USD 507.46 billion in 2022 and is poised to grow from USD 534.95 billion in 2023 to USD 837.3 billion by 2031, growing at a CAGR of 5.72% in the forecast period (2024-2031).
Construction aggregates are the most mined commodity on the planet and are essential components of composites such as asphalt and concrete. These materials are created by drilling down to smaller pieces natural sources such as limestone, rock traps, and granite. Construction aggregates are fundamental materials used in the construction of roads, airports, runways, parking lots, and railroads. This material is also used to purify water, prevent soil erosion, and filter it. The development of infrastructure projects as a result of global urbanization has driven the aggregates market. The demand for offices, residential properties, and commercial malls has resulted in an abundance of building aggregates all over the world. Increasing investments by the government on improving transport facilities and enhancing their energy (power generation) networks has fueled the demand.
The impact of the pandemic reshapes global aggregates market as certain manufacturers close down or reduce production due to a lack of downstream demand. While some are having their production halted as a precautionary measure by their respective governments to combat the spread of the virus. Consumers in certain countries are focused on being more regional by looking at the magnitude of the pandemic and the subsequent actions of national authorities. Business dynamics in the Asia Pacific region were very dynamic in these situations, weakening on a regular basis and making stability difficult.
US Aggregates Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 507.46 billion
Largest Segment
Crushed Stone
Fastest Growth
Crushed Stone
Growth Rate
5.72% CAGR
To get more reports on the above market click here to Buy The Report
Global Aggregates Market is segmented by Product Type, Application, End User and region. Based on Product Type, the market is segmented into Crushed stone, sand, gravel, others. Based on Application, the market is segmented into Concrete, road based, coverings, others. Based on End User, the market is segmented into Residential, Commercial, Industrial. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Aggregates Market Analysis by Product Type
The crushed rock is expected to make the largest contribution to the global aggregates market due to its easy availability. The cement can be in combined with crushed stone as these has surface volume property for binding. Aggregates can be smooth surfaced or rough surfaced. Sand is the main component for manufacturing concrete like other aggregates. The crushed stone segment was valued at USD 287.49 billion in 2021 and is supposed to grow at a CAGR of 5.7% from 2022 to 2028.The demand for aggregated product is rising due to enormous growth in construction industry. Due to rapid urbanization in regions of India, Indonesia and China in scaling of housing sector which drives the global aggregates market.
Aggregates Market Analysis by Application
The infrastructure segmented is observed to be the largest segment during the forecast period. Residential is the dominant segment due to increase in urbanization with the increase in population. Infrastructure industry is the backbone of the country. It contributes significantly to quickening overall development and drives its economy's growth because it is one of the robust industries. The Infrastructure segment was valued at USD 2,242.3 billion in 2021 and is expected to reach USD 3,267.3 billion by 2028, a growth rate of 6.48% during the forecast period. In 2021, commercial and infrastructure sectors contributed revenue of over 61%. Some steps are taken by Indian Government as, to establish Special Economic Zones (SEZs) that encourage industrialization and economic development. This drastic change has heighten the need for residential buildings, especially in emerging countries like China and India.
To get detailed analysis on other segments, Request For Free Sample Report
Global aggregates market is classified into North America, Europe, Asia Pacific, and MEA. Asia-Pacific considered as the booming market in respect of aggregates where there is more construction activities in the regions such as country like India, Japan which has many ongoing and future construction projects of roadways, metros, airports and others. As per the stats released by the IMF, the Asia Pacific economy is likely to be the least affected region due to the COVID-19 pandemic. The Indian construction industry employs over 30 million people and creates assets worth over ₹ 200 billion. It contributes more than 5 per cent to the nation's GDP and 78 per cent to the gross capital formation. Planning of major road ways development in 2022 has done by the Argentina government.
The Middle East & Africa are said to be the second-fastest growing region over the forecast period as the construction industry is forecast to record growth in 2021 of 4.4%. The Middle Eastern construction industry as countries, such as Saudi Arabia and Qatar are projected to remain assures as they move from oil-based economies to manufacturing/service-oriented economies. In North America, the market for eco-friendly building aggregates is growing. Due to their low cost advantages, recycled construction aggregate imports are expected to increase in Latin America, the Middle East, and Africa, which would likely enhance the market in these countries.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Aggregates Market Drivers
Aggregates Market Restraints
Request Free Customization of this report to help us to meet your business objectives.
The global aggregates market is highly competitive and most of the companies have vast distribution channels across regions and are fully integrated across the chain. Companies compete among themselves by aggressive pricing strategy, to gain a higher market share. They also focuses on developing new products with the absorption of new technology and refining its produced products to sustain in the competition and to gain higher market shares among the competition. Along with product innovations, players are aiming at strategic partnerships with regional players to strengthen regional footprint in the market.
Top Players in the Global Aggregates Market
Aggregates Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our aggregate market analysis, leading players are increasing investments in the introduction of new aggregates machinery, which are expected to drive construction aggregates market growth. Some of the main opportunities for aggregate manufacturers include the housing market recovery, ongoing residential and industrial projects in areas such as North America and Asia-Pacific, and increased government spending on infrastructure projects such as transportation and power generation. The ongoing infrastructure projects and their maintenance will also increase aggregates market demand, as almost every developing country has massive projects to complete.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 507.46 billion |
Market size value in 2031 | USD 837.3 billion |
Growth Rate | 5.72% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
|
Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Aggregates Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Aggregates Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Aggregates Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Aggregates Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Report ID: SQMIG15F2082
sales@skyquestt.com
USA +1 351-333-4748