Global Concrete Aggregates Market Highlights over 2022 – 2030
The global concrete aggregates market is estimated to grow at a significant CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing construction activities on a global level, backed by rising urbanization and growing population. Currently, over 7.5 million people are employed in the construction industry, contributing about 5% of the overall employment in the economy. Concrete aggregates are an inexpensive alternative for fillers of cement, which reduces the cost of construction. This is estimated to boost the market growth. The total production of concrete in 2019 amounted to almost 4 billion metric tons, globally. The rapid growth of construction industry is projected to fuel the market growth.
Get more information on this report: Download Sample PDF
The market is segmented by type into gravel, crushed stone, sand, recycled concrete, and others, out of which, the recycled concrete segment is anticipated to hold the significant share in the global concrete aggregates market over the forecast period on account of growing environmental awareness and adoption of recycled concrete. Recycled concrete is being increasingly used for making pavement, parking lots, and driveways, which is expected to boost the market growth.
Major Macro-Economic Indicators Impacting the Market Growth
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Global Concrete Aggregates Market Regional Synopsis
On the basis of geographical analysis, the global concrete aggregates market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to witness noteworthy growth over the forecast period on the back of rising construction activities in United States, and Canada. The U.S. construction sector valued at around USD 1.4 trillion in 2020. Moreover, increasing private residence construction and urbanization in the region is estimated to fuel the market growth.
The market in the Asia Pacific region is anticipated to garner significant market share during the forecast period, owing to the rapid urbanization and growing population in countries, such as, India, and China.
Get more information on this report: Download Sample PDF
The global concrete aggregates market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global concrete aggregates market includes the following segments:
By Type
- Gravel
- Crushed Stone
- Sand
- Recycled Concrete
- Others
By Application
- Industrial
- Commercial
- Residential
- Others
Growth Drivers
- Increasing Construction Activities Globally
- Lower Cost of Concrete Aggregates
Challenges
- Lack of Acceptance of Aggregates as compared to Concrete
Top Featured Companies Dominating the Market
- Anhui Conch Cement Co., Ltd.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- The Taiwan Cement Corporation
- Martin Marietta Inc.
- Holcim Ltd
- HeidelbergCement AG
- CEMEX S.A.B. de C.V.
- Birla Corporation Limited
- Vicat
- Votorantim S.A.
- Jiangsu Huaxin New Material Co.,Ltd.
