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Construction Aggregates Market Current Trends and Future Estimations to 2027 | By Type, Application

Key Players: Heidelberg Cement AG, Martin Marietta Materials Inc., LSR Group, LafargeHolcim Ltd, Cemex Sab de CV ADR, Vulcan Materials Company, and CRH PLC

TOKYO, JAPAN, January 8, 2021 /EINPresswire.com/ -- Construction aggregates are the most mined and grained product available in the world. They and are basic components of composite materials such as asphalt concrete and concrete. These materials are obtained from natural deposits, such as limestone, granite, and trap rock, by using drilling and blasting the rock into smaller pieces. These construction aggregates are used in base materials underneath highways, airports, runaway, parking lots, and railroads. They also have their uses in water purification, filtration, and to control erosion of soil. As the gap between the demand and supply of natural sand remains unbridged, construction aggregates have emerged as a viable solution to solve issues regarding infrastructure. With grave concerns of natural resource depletion, construction aggregates remain to be the building blocks for industrial, commercial, infrastructural, and residential development projects. Governments’ interest in housing projects and flourishing travel & tourism activities are likely to move the adoption scale of construction aggregates to a higher value. These aggregates can be used for many different projects within the construction sector. In concrete, an aggregate is used to reduce any cracks and most importantly to provide strength to the structure. In roads and railway ballast, it is used to help distribute the load and assist in groundwater running off the road.

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COVID-19 scenario analysis:

COVID-19 pandemic has shut-down the production of various products in the construction aggregates market, owing to the prolonged lockdown in major countries. This has hampered the growth of the construction aggregates market significantly from last few months, and is likely to continue during 2020.
COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020, and is likely to cause a negative impact on the market growth during the year.

The major demand for equipment and machinery was previously noticed from giant manufacturing countries, including the U.S., Germany, Italy, the UK, and China, which are badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.

Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.

Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

The construction aggregates market has applications in the construction industry. Rise in population has increased the product demand, which acts as a driving factor.

Growing population tends to increase the product demand

The growing tourism industry coupled with increasing investment in the development of recreational projects is expected to propel the market growth of construction aggregates. Therefore, the growing travel & tourism industry is expected to foster the market growth of construction aggregates. Increase in innovation in technologies for the production of aggregates to increase efficiency of manufacturing processes and productivity with high-quality products is projected to fuel the growth of the global construction aggregates market over the forecast period. For example, Haver & Boecker’s Hydro-Clean washing unit cleans toxic material from aggregates and reduces water consumption by around 75% as compared to conventional log washers.

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High transportation cost to restrict the market

High transportation cost of construction aggregates as they are heavy is expected to prohibit the market growth of the construction aggregates. According to the Coherent Market Insights, transportation cost amounts to around 50% of the overall administrative cost on construction aggregates. Therefore, high transportation cost of construction aggregates is expected to restrain the market growth of construction aggregates over the forecast timeframe. Strict zoning rules & regulations on the extraction of aggregates in populated areas are presumed to curb the market growth of construction aggregates. To get permission for a mining site is time-consuming and difficult, owing to environmental laws, zoning laws, and land development laws. According to the Coherent Market Insights, California has 74 billion metric tons of reserves in government-approved mining land; however, mining is permitted in only 6–8% of the land.

Key benefits of the report:

This study presents the analytical depiction of the construction aggregates market along with the current trends and future estimations to determine the future of the market.

The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the construction aggregates market share.

The current market is quantitatively analyzed from 2020 to 2027 to highlight the construction aggregates market growth scenario.

Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.

The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.

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David Correa
Allied Analytics LLP
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