Aggregates Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Aggregates Market Analysis
The aggregates market is projected to register a CAGR of more than 6% during the forecast period.
The construction industry was negatively impacted due to the COVID-19 pandemic. Most projects were halted due to the unavailability of raw materials in time. Also, at the end of 2020, a new COVID-19 strain was detected in Europe, due to which manufacturing and industrial activities were affected in the first half of 2021. However, the market has recovered to pre-pandemic levels in 2022.
- Over the long term, the major factor driving the market studied is the increasing demand for residential and commercial construction activities across the globe.
- Various factors, including supply chain disruption, shortage of subcontractors and materials, and the termination of contracts to control expenses, are affecting the growth of the market across the world. Due to these factors, the aggregates market is affected on a short-term basis.
- The development of smart aggregates is likely to act as an opportunity for the market to grow.
- The Asia-Pacific region dominates the global market, with the largest consumption being registered in China, India, and Japan.
Aggregates Market Trends
This section covers the major market trends shaping the Aggregates Market according to our research experts:
Growing Demand from Construction Applications
- Aggregate is a broad category of coarse to medium-grained particulate material used in construction activities, which includes sand, gravel, crushed stone, slag, recycled concrete, and geosynthetic aggregates. Aggregates are the most mined materials in the world. Aggregate materials are mixed with cement, bitumen, lime, gypsum, or other adhesives to form concrete or mortar that forms a major part of building blocks.
- In 2020, the total value of new construction put in place was about USD 1,469 billion in the United States, which reached about USD 1,590 billion in 2021, with a growth rate of about 8%. Thus, this increased the demand for flooring and roofing, which, in turn, increased the demand for the aggregates market.
- China is in a construction mega-boom. The country has the largest building market in the world, making up 20% of all construction investment globally. China is expected to spend nearly USD 13 trillion on buildings by 2030.
- Additionally, in India, massive urbanization is expected to happen in the next decade, pushing the demand for the aggregates in the construction sector.
- For instance, India is trying to build more than 100 smart cities all over the country to achieve rapid urbanization, which is expected contribute greatly for the aggregates demand in the country during the forecast period.
- Hence, with the growing construction activities, the demand for aggregates is expected to rapidly increase over the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the aggregates market during the forecast period. With growing construction activities in countries such as China, India, and Japan, the consumption of aggregates is increasing in the region.
- According to the Chinese Ministry of Water Resources, CNY 703.6 billion (~ USD 98 billion) was invested in water-conservation infrastructure projects in 2022, a 63.9% increase over the same time in 2021.
- In November 2022, the Ministry of Road Transport and Highways sanctioned projects worth INR 68,000 crore (~USD 8.25 billion) in India, increasing the scope of the market studied.
- In March 2021, the Parliament of India passed a bill to create a USD 2.5 billion development finance institution called National Bank for Financing Infrastructure and Development (NaBFID) to fund infrastructure projects in India.
- According to the Department for Promotion of Industry and Internal Trade (DPIIT), foreign direct investments in the construction development sector (townships, housing, built-up infrastructure, and construction development projects) and construction (infrastructure) activities stood at USD 28.64 billion and USD 26.22 billion respectively, between April 2000 and June 2022.
- The Chinese government has rolled out massive construction plans, including making provisions for the movement of 250 million people to its new megacities over the next ten years, creating a major scope for construction activity and increasing the demand for the aggregates market during the forecast period.
- The abovementioned factors, coupled with government support, will contribute to the increasing demand for the aggregates market during the forecast period.
Aggregates Industry Overview
The aggregates market is partially fragmented, with the players occupying marginal shares in the industry. Some major companies (not in any particular order) are China Resources Cement Holdings Limited, EUROCEMENT Group, Vulcan Materials Company, LSR Group, and Holcim Limited.
Aggregates Market Leaders
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China Resources Cement Holdings Limited
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EUROCEMENT group
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Vulcan Materials Company
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LSR Group
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Holcim Limited
*Disclaimer: Major Players sorted in no particular order
Aggregates Market News
- November 2022: LSR Group entered the insulation market with the production of 'LSR TERMO' aerated concrete insulation, which is environment friendly and has high fire resistance, lightness, and durability.
- May 2022: Holcim group's business in India, i.e., 63.11% holding in Ambuja Cement, which has a 50.05% stake in ACC, along with a 4.48% direct stake in ACC, was acquired by the Adani Group.
Aggregates Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Growing Demand from the Buildings and Construction Segment
- 4.1.2 Other Drivers
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4.2 Restraints
- 4.2.1 High Transit and Overhead Cost
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 By Aggregate Type
- 5.1.1 Sand
- 5.1.2 Gravel
- 5.1.3 Slag
- 5.1.4 Crushed Stone
- 5.1.5 Other Aggregate Types
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5.2 By Application
- 5.2.1 Construction
- 5.2.1.1 Buildings
- 5.2.1.2 Railways
- 5.2.1.3 Roadways
- 5.2.1.4 Others
- 5.2.2 Insulation
- 5.2.3 Other Applications
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5.3 By Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 France
- 5.3.3.4 Italy
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 CEMEX SAB de CV
- 6.4.2 China Resources Cement Holdings Limited
- 6.4.3 EUROCEMENT Group
- 6.4.4 HEIDELBERGCEMENT AG
- 6.4.5 Holcim Limited
- 6.4.6 LSR Group
- 6.4.7 Martin Marietta
- 6.4.8 Tarmac
- 6.4.9 Vulcan Materials Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Development of Smart Aggregates
- 7.2 Other Opportunities
Aggregates Industry Segmentation
Aggregate is a broad category of coarse to medium-grained particulate material used in construction activities, which includes sand, gravel, crushed stone, slag, recycled concrete, and geosynthetic aggregates.
The market is segmented by Aggregate Type (Sand, Gravel, Slag, Crushed Stone, Other Aggregate Types), Application (Construction (Buildings, Railways, Roadways, Others), Insulation, Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, Middle East and Africa). The report also covers the market sizes and forecasts for the aggregates market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done in terms of revenue in USD million.
| By Aggregate Type | Sand | |
| Gravel | ||
| Slag | ||
| Crushed Stone | ||
| Other Aggregate Types | ||
| By Application | Construction | Buildings |
| Railways | ||
| Roadways | ||
| Others | ||
| By Application | Insulation | |
| Other Applications | ||
| By Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Rest of Europe | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| By Geography | Middle East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle East and Africa |
Aggregates Market Research FAQs
What is the current Aggregates Market size?
The Aggregates Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Aggregates Market?
China Resources Cement Holdings Limited , EUROCEMENT group , Vulcan Materials Company , LSR Group and Holcim Limited are the major companies operating in the Aggregates Market.
Which is the fastest growing region in Aggregates Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Aggregates Market?
In 2024, the Asia-Pacific accounts for the largest market share in Aggregates Market.
What years does this Aggregates Market cover?
The report covers the Aggregates Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Aggregates Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What opportunities are emerging in the Aggregates Market?
The opportunities emerging in the Aggregates Market are a) The development of smart aggregates enhances the efficiency and performance of construction materials b) Increasing demand for residential and commercial construction activities
Aggregates Industry Report
The global aggregates market is witnessing significant growth, fueled by rising demand for construction materials across commercial, residential, industrial, and infrastructure sectors. Essential materials like crushed stones, gravel, and sand are crucial for producing concrete, road bases, and coverings. The aggregate industry expansion is particularly strong in emerging economies, driven by urbanization, industrialization, and increased disposable income, with the Asia Pacific region leading in market share. This surge is also supported by government investments in infrastructure, boosting demand for residential and commercial buildings. Concrete manufacturing, the largest market segment, benefits from the booming housing sector and infrastructure projects. Aggregate companies are enhancing their distribution channels and product offerings to meet this growing demand and maintain competitiveness. The aggregates market's growth trajectory is set to continue, backed by the resumption of construction activities and strategic infrastructure investments. For detailed market share, size, and revenue growth rate statistics, Mordor Intelligence™ Industry Reports offer a comprehensive market forecast outlook and historical overview, available for download as a free report PDF.
