Aggregates Market Size to grow by USD 51.86 billion between 2024-2028
According to a research report “ Aggregates Market” by Application (Concrete, Road base and coverings, Others) Product (Crushed stone, Sand and gravel, Others) Geography (APAC, Europe, North America, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 51.86 billion, at a CAGR of 5.2% during the forecast period. The global aggregates market is experiencing significant growth due to substantial investments in the construction sector, particularly in APAC, Europe, and the MEA region. Governments in these regions have been actively driving infrastructure development, with the GCC leading the charge through its focus on economic transformation. This investment trend is expected to continue, fueling the growth of the aggregates market. Additionally, major transport infrastructure projects, such as expanding road networks, roundabouts, and highways, will further boost demand for aggregates. Furthermore, the upcoming FIFA World Cup in Qatar in 2022 is attracting substantial construction investments, providing a significant impetus to the global aggregates market.
Browse market data tables, figures, and in-depth TOC on “Aggregates Market” by Application (Concrete, Road base and coverings, Others) Product (Crushed stone, Sand and gravel, Others) Geography (APAC, Europe, North America, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample
By Application, the Concrete segment is projected to dominate the market size in 2024
In the realm of construction materials, crushed stone holds significant importance, with approximately 1,491.36 MMT utilized in 2021. A substantial 76% of this demand stemmed from its application as a construction aggregate in the production and upkeep of roads. Beyond road construction, crushed stone is also employed in the creation of residential driveways, paths, and walkways. Furthermore, it plays a crucial role in the manufacture of concrete for diverse construction projects worldwide. Crushed stone's versatility extends to the realm of drainage systems, where it functions as a filler material. The burgeoning employment market has resulted in increased disposable income, thereby fueling the demand for construction materials, including crushed stone.
By Product, Crushed stone segment is expected to hold the largest market size for the year 2024
In the realm of construction materials, aggregates play a pivotal role, particularly in concrete applications. Notable aggregates include sand, gravel, granite, and crushed stones. Among these, sand is a crucial component, characterized by its loose structure derived from disintegrated rocks. It contributes significantly to the strength and overall properties of construction materials like concrete and asphalt. Various types of sand are utilized in the industry, such as coarse sand, river sand, artificial sand (crushed stone sand/manufactured sand), and M-sand. M-sand, a substitute for river sand, is increasingly adopted in concrete construction due to its availability and sustainability.
APAC is forecasted to hold the largest market size by region in 2024
The APAC aggregates market is experiencing significant growth due to the surge in construction projects in key countries, including China, India, and Japan. In China, the market growth is moderated by stringent environmental regulations limiting the emission of nitrogen oxide (NO) and carbon dioxide (CO2) during cement production. However, China and India are embracing alternative fuel sources, such as hydroelectric power, to produce cement, thereby fueling the demand for aggregates. Natural gravel and crushed stone are increasingly preferred in countries like India and China, with India traditionally utilizing gravel for the construction of architectural marvels.
The Aggregates Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The aggregates market encompasses a wide range of minerals including sand, gravel, crushed stone, limestone, granite, and natural sediments. These minerals play a crucial role in various industries such as soil erosion control, purification, and water filtration. In infrastructure development, aggregates are used extensively in the construction of parking lots, railroads, highways, and airport runways. They serve as foundation materials and are essential in blasting and drilling operations to prevent falling rocks. Composite materials made from aggregates find extensive use in new infrastructure projects, particularly in railway and roadway applications. In high-rise buildings, aggregates are used in the production of bricks, pipes, concrete blocks, and gravel. The demand for aggregates is driven by the growth in GDP and the increasing need for transport infrastructure in emerging economies. The application segments include road base & coverings, railway ballast, concrete manufacturing, and cement production. Overall, the aggregates market is a significant contributor to the global economy and is expected to continue its growth trajectory in the coming years.
Market Research Overview
The aggregates market encompasses the production and transportation of sand and gravel, which are essential construction materials used in various sectors. The transportation modes for aggregates include ships, trains, and trucks. Major aggregate producers face volatility in prices due to factors like interest rates, shipping cost, and inflation. The coronavirus pandemic disrupted supply chains, causing delays and increasing transportation cost. In the oil & gas industry, the demand for aggregates is high for infrastructure development, including pipelines and drilling sites. High-quality products are produced using advanced machinery from companies like Haver & Boecker, such as the Hydro-Clean washing unit, ensuring productivity and efficiency in the manufacturing process. The Bipartisan Infrastructure Law is a significant investment in infrastructure development, including transportation infrastructure, schools, hospitals, shopping malls, commercial buildings, and residential buildings. The World Bank reports that as global population and urbanization increase, infrastructure problems persist, driving the need for new infrastructure projects. Natural sand and gravel are used for various applications, including soil erosion control, purification, water filtration, and parking lots. Aggregates are also used in railroads, highways, airport runways, and foundation materials. The blasting, drilling, and crushing of limestone, granite, and natural sediments produce composite materials like concrete, cement, and crushed stone. The application segment includes high-rise buildings, bricks, pipes, concrete blocks, gravel, sand, and crushed stone. The GDP of emerging economies is driving the demand for aggregates, leading to the development of new infrastructure projects in railway and roadway sectors.
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