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Industry Insights, Market Size, CAGR, High-Level Analysis: Aggregates MarketThe global aggregates market size was valued at USD 432.5 billion in 2018 and is projected to expand at a CAGR of 6.5% from 2019 to 2025. Residential & commercial construction and infrastructure are key end-use industries of aggregates. Its usage in concrete and cement manufacturing, road base and coverings, and railway ballast is expected to drive its demand over the forecast period. The market is expected to grow steadily with increased investments in infrastructure projects around the globe. Globally, infrastructure investment is expected to reach USD 49 trillion by 2030. Nearly USD 2.5 trillion is invested annually in transportation, water, and power sectors, respectively across the globe. China emerged as a major construction industry participant globally in the past decade. Rapid infrastructural development in the country and strong economic growth have favored the progress of the countrys construction sector. Economic growth, mainly in terms of domestic consumption, is driving freight transportation levels. Besides, increasing wealth has led to increased ownership of cars, which has further increased the need for investment in roadways. This is critical for Chinas Go West policy to develop Western and Central China. The demand for the product for its use in road infrastructure is expected to drive the industry growth over the forecast period. The government of China, in its 13th Five-Year Plan for the period from 2016 to 2020, has set investment amounting nearly USD 2.1 trillion for the development of transportation and infrastructure projects. The government has categorized the investment into four segments - roads, railways, civil aviation, and water transportation. Therefore, government-backed projects are expected to drive the demand for construction aggregates, and, in turn, trigger the market growth over the forecast period.
Type Insights of Aggregates MarketCrushed stone segment was the largest type segment in 2018 and accounted for a market share of 58.8% in terms of volume. The growth of the construction industry, especially in emerging economies, is leading to an increased demand for the product. For instance, according to Líª Quang Hí¹ng, Deputy Minister of Construction, Vietnam, the countrys construction industry grew at a rate of 8.7% in 2017 owing to an increase in tourism, urbanization, and renovation of old buildings. Favorable government policies are also propelling the product demand in the industry. Sand is a form of aggregate and is categorized as fine aggregates in the construction sector. The product is widely used in the manufacturing of concrete along with cement, coarse aggregates, and water. Nearly 110 tons of the product is used in manufacturing 53 cubic meters of concrete. The demand for concrete around the globe is expected to observe significant growth rate owing to rapid development of housing sectors, especially in the developing countries. Gravel segment held 17.3% of the market share, in terms of volume, in 2018. Gravel is a form of aggregate and it is categorized as fine aggregates in the construction sector. The product is widely used in the manufacturing of concrete blocks, bricks, pipes, and roadway construction activities.
Application Insights of Aggregates MarketConcrete application segment is likely to dominate the global construction aggregates market in terms of both volume and revenue. Indias construction sector is expected to grow strongly over the forecast period owing to various regulatory reforms including the implementation of real estate regulatory bill and the inclusion of 100% foreign direct investments in the real estate sector. Various regulatory reforms are likely to boost the countrys construction sector while contributing to the demand for concrete. Also, in 2015, the government of India approved the construction of 100 smart cities across the country. Road base & coverings segment is expected to emerge as the second-largest application segment over the forecast period. Numerous roadway projects across India, Malaysia, and Indonesia are likely to positively influence the demand for the product. For instance, Rural Development Ministry in Malaysia is highly focused on road projects. The ministry announced 81 road construction projects in rural area at a valuation of around USD 77 million in 2019.
Regional Insights of Aggregates MarketAsia Pacific dominated the global market, accounting for a share of 67.1%, in terms of volume, in 2018. The market in emerging economies such as India is gaining momentum, especially for construction of roadways. For instance, in 2017, the government of India proposed numerous projects for the development of the countrys roadway infrastructure. Indias national highway network is expected to cover nearly 50,000 kilometers by 2020. In terms of volume, Central & South American market is anticipated to progress at a CAGR of 3.7% over the forecast period. The growth can largely be attributed to investments made for the development of roadway infrastructure. For instance, the government of Argentina is planning major road development across the country by 2020. The government has identified 16 key road projects with a total length of nearly 7,000 kilometers. The total cost of these projects is estimated to be around USD 16.7 billion. The Middle East & Africa is expected to be the second-fastest growing region, in terms of demand for construction aggregates, over the forecast period. Construction industry outlook in the Middle East is expected to remain positive over the forecast period as countries such as Saudi Arabia and Qatar are shifting from being oil-based economies to manufacturing/service-oriented economies. For instance, Qatars infrastructure investment is expected to reach up to USD 150 billion by 2022 as it will host the 2022 FIFA world cup. Qatar is expected to invest USD 20 billion in the development of roads; USD 40 billion in railways; USD 4 billion in stadiums; and USD 8 billion in deep-water seaports.
Market Share Insights of Aggregates MarketThe global market for aggregates is highly competitive and fragmented in nature. The widespread deposits across the world have led to the large-scale production of construction aggregates. The market is dominated by major players such as LafargeHolcim; HeidelbergCement AG; CEMEX S.A.B. de C.V.; and Eurocement Group. Key companies are attempting to increase their presence through mergers and acquisitions. Improving digital market presence is another key strategy adopted by global vendors. For instance, in June 2018, CEMEX S.A.B. de C.V. launched Construrama Online Store. This has enabled the company to sell its construction materials through an online medium. The move is likely to help the organization improve its supply chain strategy.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Aggregates Market Research ReportThis report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the global aggregates market report based on type, application, and region:
Type Outlook (Volume, Million Tons; Revenue, USD Million, 2019 - 2030)
- Crushed stone
Application Outlook (Volume, Million Tons; Revenue, USD Million, 2019 - 2030)
- Road base & coverings
Table of Contents Chapter 1 Methodology and Scope 1.1 Market segmentation & scope 1.2 Market definition 1.3 List of data sources 1.4 Information procurement 1.5 Information analysis 1.6 Market formulation & data visualization 1.7 Data validation & publishingChapter 2 Executive Summary 2.1 Market outlook 2.2 Segmental outlook 2.3 Competitive InsightsChapter 3 Aggregates Market Variables, Trends, & Scope 3.1 Market outlook | read more...