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Construction aggregates are the most mined commodity available in the world and are the key elements of composites such as asphalt and concrete. These materials are made from natural sources such as limestone, rock traps and granite by drilling down the rocks to smaller pieces. Construction aggregates are used as basic materials under roads, airports, runways, parking lots and railroads. This material is also used for water purification, soil erosion prevention and filtration
The development of infrastructure projects owing to the rapid urbanization around the world has driven the market for construction aggregates. The need for offices, residential premises and commercial malls has entailed the supply in the abundance of building aggregates across the globe. Increasing investments by the government on improving transport facilities and enhancing their energy (power generation) networks has fueled the demand. However, in order to mine the aggregates, companies need to invest heavily on fuel. Any rise in fuel prices will have a negative effect on the production of aggregates. This in turn, can impede market growth.
Key Market Driver -
The increased demand for infrastructure projects is likely to drive the market growth.
Key Market Restraint -
High costs of fuels for mining is likely to restrict the market growth.
Based on product type the market for construction aggregates is further segmented into crushed stone, sand & gravels, recycled aggregates and others. Based on the application the market for construction aggregates is further segmented into commercial, residential, industrial, and infrastructure. From a geographical standpoint, the market is categorized to North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global & regional players operating in the Construction Aggregates market include Heidelberg Cement AG, Martin Marietta Materials Inc, LSR Group, LafargeHolcim Ltd, Cemex SAB de CV ADR, Vulcan Materials Company, CRH plc and others.
North America is leading the global market. Housing refurbishment and ongoing home construction are estimated to drive development in the construction sector. This, in turn, is expected to raise demand for construction aggregates in the U.S. during the forecast period. For example, in December 2015, the U.S. Congress passed a five-year highway and transit bill to improve the infrastructure of the country. In Asia Pacific, rural areas are being transformed into cosmopolitan urban centers, and this factor is expected to continue to generate main revenues for the construction aggregate industry. Several infrastructure projects are underway in Europe, such as the development of light rail lines, apartment complexes and shopping centers. This stimulates the growth of the market in the region. The Middle East and Latin America are experiencing moderate growth as a result of emerging infrastructure projects in the region.
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