Global Construction Aggregates Market expected to generate around USD 490 billion by 2025, at a CAGR of 4.6% between 2019 and 2025
NEW YORK, NEW YORK, UNITED STATES, February 27, 2020 /EINPresswire.com/ — Zion Market Research has published a new report titled “Construction Aggregates Market by Product Type (Crushed Stones, Sand, Gravel, and Others) and by End-User (Residential, Commercial, and Industrial): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global construction aggregates market was valued approximately USD 360 billion in 2018 and is expected to generate around USD 490 billion by 2025, at a CAGR of 4.6% between 2019 and 2025.
The construction aggregates market is likely to grow rapidly over the estimated timeframe owing to the flourishing construction industry of various emerging nations, such as India and China. Rapid industrialization, urbanization in developing economies of the world, and the ongoing trend of constructing smart buildings and infrastructures in cities are other factors that are anticipated to boost the construction aggregates market in the future. Additionally, construction organizations are also focusing on mergers and acquisitions to increase their production capacities. Furthermore, the growing acceptance of recycled construction aggregates due to their ability to preserve depleting energy resources and reduce costs are projected to positively impact the construction aggregates market in the upcoming years. The growing demand for readymade concrete is likely to offer new market opportunities over the estimated timeframe. However, the fluctuating prices of raw materials may hamper this market’s growth in the future.
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Based on product type, the construction aggregates market is segmented into the sand, gravel, crushed stones, and others. The crushed stones segment is expected to dominate the market in the future, owing to their extensive use for commercial infrastructural development. According to the U.S. Geological Survey in 2015, about 1.32 billion tons of crushed stones were produced for consumption in the U.S. alone.
Based on end-user, the construction aggregates market is segmented into residential, commercial, and industrial. The residential segment is expected to dominate the market in the future, owing to the growing number of smart buildings in urban and semi-urban areas due to the rising per capita income of people.
Asia Pacific region held an extensive revenue share of the global construction aggregates market in 2018 and is expected to dominate globally in the upcoming years as well. This can be attributed to the increasing construction activities in the region due to rapid industrialization and urbanization and the rising investments made in the construction industry for infrastructural development. North America is expected to provide significant opportunities for the global construction aggregates market in the future, owing to the rising demand for recycled construction aggregates and crushed stones owing to the development of commercial infrastructure across the region.
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Some key players of the global construction aggregates market are Vulcan Materials Company, Adelaide Brighton Cement Ltd., PJSC LSR Group, CEMEX S.A.B. de C.V., LafargeHolcim Ltd., Martin Marietta Materials, Inc., Eurocement Holding AG, CRH PLC, Heidelberg Cement AG, and Rogers Group Inc., among others.
This report segments the global construction aggregates market into:
Global Construction Aggregates Market: Product Type Analysis
Global Construction Aggregates Market: End-User Analysis
Global Construction Aggregates Market: Regional Analysis
The Middle East and Africa
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Source: EIN Presswire