Construction aggregates are the most mined and grained product available in the world and are basic components of composite materials such as asphalt concrete and concrete. These materials are produced from natural deposits such as limestone, granite, and trap rock by using drilling and blasting the rock into smaller pieces. Construction aggregates are used as base materials underneath highways, airports, runaway, parking lots, and railroads. This material is also used in water purification, filtration, and to control erosion of soil.
The global construction aggregates market is projected to reach US$ 666.7 billion by the end of 2027, in terms of revenue, growing at CAGR of 6.0% during the forecast period (2019 to 2027).
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Increasing investment for introducing new aggregates machinery by major players is expected to propel the market growth of construction aggregates over the forecast period. For instance, in November 2019, AR Demolition has continued investing in the future of its business with cutting-edge machinery worth of US$ 1 million for its aggregates recycling sister company.
The market is anticipated to grow substantially in forthcoming years owing to surge in infrastructure developments across the globe, especially in emerging economies. Governments are focused on strengthening their infrastructures in transportation and energy sector to boost the economic growth of country. Geographically, Asia-Pacific is projected to witness the fastest growth in next few years on account of rising number of construction projects in the region.
Major Keyplayers: HeidelbergCement AG, Martin Marietta Materials, Inc., LSR Group, LafargeHolcim, CEMEX S.A.B. de C.V., Vulcan Materials Company, CRH, Eurocement Group, and Adelaide Brighton Ltd.
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