The global Construction Aggregates Market is estimated to be valued at US$ 528.09 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Construction aggregates are basic materials used in construction such as sand, gravel, crushed stone, slag, recycled concrete and geosynthetic aggregates. They are used with cement to form concrete. Concrete has wide applications in construction of buildings, bridges, roads and hydraulic structures due to its compressive strength, low permeability and high durability.
Market key trends:
One of the key trends driving the growth of the market is the increasing adoption of green concrete. Green concrete uses industrial byproducts and recycled materials as aggregates to reduce the environmental impact of cement production. It is being adopted across countries to support sustainability goals. The use of industrial waste materials and recycled concrete as aggregates in concrete helps reduce mining pressure and cut costs. Thus, increasing focus on sustainability is favoring the demand for green concrete aggregates.
Segment Analysis
The global construction aggregates market is segmented into crushed stone, sand & gravel, and others. Among these, the crushed stone segment dominated the market in 2023 and is expected to continue its dominance over the forecast period. Crushed stone has better physical and mechanical properties such as high compressive strength, which makes it suitable for usage in infrastructure development, roadways, concrete manufacturing and others.
Key Takeaways
The Global Construction Aggregates Market Size was valued at US$ 528.09 Bn in 2023. The market is projected to grow at a CAGR of 4.8% during the forecast period (2023-2030), owing to rapid urbanization and infrastructure development activities across both developing and developed nations.
Regionally, the Asia Pacific region held the largest share in the global construction aggregates market in 2023. The presence of emerging economies like China and India experiencing strong GDP growth driving infrastructure development is fueling the demand for construction aggregates in the region.
Key players operating in the construction aggregates market include China Resources Cement Holdings Limited, EuroCement Group, Vulcan Materials Company, LafargeHolcim, LSR Group, Adbri, Cemex, Heidelberg Cement AG, and Martin Marietta Materials. Among these, China Resources Cement Holdings Limited and Vulcan Materials Company held significant market share in 2023 owing to their expanded production facilities and strong distribution network across different regions.
For More Insights, Read: https://www.newsstatix.com/construction-aggregates-market-size-share-and-growth-forecast-2023-2030/
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