09 January 2020
Visiongain’s new report Aggregates Market Report 2020-2030: Forecasts by Type (Crushed stone, Gravel, Sand, Others), Application (Concrete, Gravel, Road base & coverings), and by region and analysis of leading companies operating in this industry.
The global aggregates market is anticipated to surpass USD 800 billion by 2030 while growing at a lucrative CAGR of 6.4% during the forecast period from 2020 to 2030.
The global aggregate market is anticipated to grow on account of growing government expenditure on improving infrastructure facilities, coupled with enhancing educational facilities, healthcare systems, water and sanitation facilities, and emphasizing on implementing sustainable mining solutions, thus resulting in the growing demand for construction aggregates. The growing demand for amusement parks and other luxury sports arenas in the United States, Europe, and Asia Pacific region is contributing to the growth of the global construction aggregate markets.
The concrete application segment is anticipated to dominate the global construction aggregates market. India's construction sector is anticipated to grow at a lucrative growth rate over the forecast period owing to various regulatory reforms including the implementation of the real estate regulatory bill and the 100% Foreign Direct Investment in the Indian infrastructure.
Different regulatory changes are likely to boost the construction sector while contributing to the growth of construction aggregates. Also, India's government approved the development of 100 smart cities across the country in 2015. Several road projects throughout Malaysia, India & Indonesia are likely to have a positive impact on product demand. For example, The Asian Infrastructure Investment Bank (AIIB) is planning to invest up to $2.5 billion in urban transport projects, such as Metro commuter-rail networks and radial roads, giving a boost to New Delhi’s (India) Smart City initiative.
The global construction aggregates market is dominated by the Asia Pacific region owing to the presence of numerous construction activities in emerging economies like India and China. The infrastructure sector plays a vital role in the growth of the Indian economy. As per the report of the Ministry of Commerce and Industry, Government of India, India nearly 9% of India’s GDP is spent on infrastructure services which comprise roads, bridges, dams, power plants, etc. As infrastructure is highly responsible for propelling the growth of other sectors, the Indian governments are investing heavily in construction services in various ways such as 100% FDI, smart cities mission and large budget allocation for infrastructure.
In terms of demand for construction aggregates, the Middle East & Africa is projected to be the second-fastest-growing region over the forecast period. The Middle East & Africa construction industry is anticipated to offer lucrative growth opportunities as countries such as Qatar & Saudi Arabia shift from oil-based countries to manufacturing/service-oriented countries. For example, according to the Middle East Economic Digest, Qatar is anticipated to spend USD 100 billion on infrastructure associated with the 2022 football World Cup. This is anticipated to offer lucrative growth opportunities for aggregates market players.
Some of the key aggregates market players include Luck Stone Corporation, Adelaide Brighton Ltd, Anglo American PLC, Asamer Baustoffe AG, Boral Limited, Brett (Robert) & Sons Limited, Camargo Corrêa SA, Cemex S.A.B. de C.V, CRH plc, Eidelbergcement AG, Eurocement Group, Eurocement Holding AG, Granite Construction Incorporated, Irving Materials Incorporated, Italcementi SPA, LafargeHolcim, LSR Group, Martin Marietta Materials Incorporated, Rettig Group Limited, Rogers Group Inc. among other prominent players.
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