PMR Report: Construction Aggregates Market Going to Touch US$ 592.7 Bn by 2025
Owing to the ongoing large-scale infrastructure development projects undertaken by government in several countries, demand for construction aggregates has gained a healthy traction of late. Moreover, the revival of the global economy to an extent has stimulated the global market for construction aggregates. Asia Pacific, North America and Europe are witnessing an economic resurgence, which is further boosting the construction aggregates markets in these regions. PMR in its latest report projects that the global construction aggregates market will reach a valuation of US$ 592.7 Bn by 2025-end, expanding at a CAGR of 5.3% over the forecast period (2017 – 2025).
Government in major countries continue to focus on the development of transportation facilities and strengthening energy (power generation) infrastructure. In addition, latest technological innovation for the production of aggregates has led to increased efficiency of manufacturing processes, leading to higher productivity as well as better quality of products. This, in turn, is fueling the growth of the global construction aggregates market. In terms of volume, the global construction aggregates market is anticipated to increase from 45.2 BMT in 2017 to 66.3 BMT by the end of 2025.
PMR’s report further reveals that many of the leading players in the global market are emphasizing on strengthening their business relation with local EPC companies and are strategically deploying prime distributors in local regions. Besides, some of these players are also making their presence stronger in the local markets through acquisitions and mergers of smaller domestic brands. PMR in its report has profiled some of the leading companies operating in the global market for construction aggregates, which include Heidelberg Cement AG, Martin Marietta Materials Inc., CEMEX S.A.B. de C.V., LSR Group, LafargeHolcim, Vulcan Materials Company, ADELAIDE BRIGHTON LTD, EUROCEMENT Group and CRH.
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Use of crushed stone as a construction aggregate continues to grow at a staggering rate. Amongst all the types of construction aggregates, crushed stones are estimated to witness a relatively higher demand in 2017 and beyond. This is primarily owing to the exponential amount of infrastructure development activities going on in both developed and developing countries. Crushed stone construction aggregate is projected to account for more than one-third of the value share of the overall market by the end of assessment period.
Government of various countries are investing heavily in infrastructure development, which necessitates a substantial amount of construction aggregates. Application of construction aggregates in infrastructure development remains robust while their use for commercial construction purposes also continues to grow at a steady rate. Based on application, infrastructure development activities will account for nearly US$ 276.4 Bn worth construction aggregates by the end of 2025.
Among the regions/countries, China and India are estimated to remain as the two major markets for construction aggregates throughout the forecast period, due to the overwhelming growth in the construction sector in these two countries. By 2025-end, China is estimated to hold close to 26.8% value share of the market. Meanwhile, the robust urbanization coupled with the strong emphasis by the government to improve the service life of various public utilities in India are expected to be the key factors driving demand for construction aggregates in the country. The construction aggregates markets in North & Central America are also estimated to witness impressive growth rates during the forecast period.
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