The global construction aggregates market was expected to reach an estimated value of $350.2 billion in 2016, expanding at a CAGR (compound annual growth rate) of 6.1 percent through 2024.
Construction aggregates are a broad category of granular materials such as stone, crushed stone and gravel which are widely used in the construction sector.
New trends in construction aggregates such as manufactured sand and recycled aggregates, along with rising investment in infrastructure globally are driving the market. High cost of transportation, regulations concerning stringent zoning, seasonal factors, and rising energy costs are expected to act as restraints to growth of the market.
The growth of construction spending, especially in developing economies such as India and the Middle East, are some of the major market drivers.
During the forecast period, the infrastructure segment will continue to account for the maximum share of the total construction aggregates market and is anticipated to expand at a healthy CAGR during the forecast period. Sand will remain the largest revenue generating segment. The crushed stone segment is expected to expand at a higher CAGR of 7.2 percent during the forecast period.
China is expected to dominate the construction aggregates market throughout the forecast period, expanding at a CAGR of 4.7 percent in terms of value. In 2017, the Chinese market for construction aggregates will witness impressive growth of 7.2 percent over 2016. North and Central America will constitute the next key market, accounting for more than 17 percent of market value share by the end of forecast period.
