Market Size of Aggregates Industry
| 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 |
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 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 |
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| Insulation | ||||||
| Other Applications |
| By Geography | |||||||
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Aggregates Market Size Summary
The aggregates market is poised for significant growth, driven by the increasing demand for residential and commercial construction activities worldwide. Despite the initial setbacks caused by the COVID-19 pandemic, which disrupted supply chains and halted projects, the market has rebounded to pre-pandemic levels. The Asia-Pacific region, particularly China, India, and Japan, leads in consumption due to extensive construction activities. The development of smart aggregates presents a promising opportunity for further market expansion. However, short-term growth is challenged by supply chain disruptions and material shortages. Aggregates, essential for concrete and mortar production, remain the most mined materials globally, with their demand closely tied to construction industry trends.
The market landscape is characterized by partial fragmentation, with key players like China Resources Cement Holdings Limited, EUROCEMENT Group, Vulcan Materials Company, LSR Group, and Holcim Limited holding marginal shares. Government initiatives and investments in infrastructure projects, particularly in China and India, are expected to bolster demand for aggregates. China's ambitious construction plans and India's urbanization efforts, including the development of smart cities, are significant contributors to the market's growth trajectory. The market's expansion is further supported by foreign direct investments in construction and infrastructure activities, underscoring the critical role of aggregates in supporting global construction demands.
Aggregates Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Demand from the Buildings and Construction Segment
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 High Transit and Overhead Cost
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 By Aggregate Type
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2.1.1 Sand
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2.1.2 Gravel
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2.1.3 Slag
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2.1.4 Crushed Stone
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2.1.5 Other Aggregate Types
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2.2 By Application
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2.2.1 Construction
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2.2.1.1 Buildings
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2.2.1.2 Railways
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2.2.1.3 Roadways
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2.2.1.4 Others
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2.2.2 Insulation
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2.2.3 Other Applications
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2.3 By Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 France
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2.3.3.4 Italy
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle East and Africa
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Aggregates Market Size 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.
