United States infrastructural growth fuels construction aggregates sales. North America claims 42% market share; United States estimated at 26.8%

NEWARK, DELAWARE, UNITED STATES OF AMERICA, November 10, 2023 /EINPresswire.com/ -- Construction aggregates market to reach a valuation of US$ 395.67 billion in 2023. According to Future Market Insights, the market is expected to secure a 4.86% CAGR from 2023 to 2033 and is anticipated to value US$ 636.46 billion by the end of 2033.

Increase in infrastructural spending i.e., the growth in population and urbanization, where the demand for infrastructure such as roads, bridges, airports, and housing is rising, with an increase in the demand for construction aggregates. Governments are thus, investing largely in the development of such infrastructural projects, with the growing demand for construction aggregates.

The construction industry also acts as a key driver of the construction aggregates market. It is because of the rise in demand for residential, commercial, and industrial construction projects, which are coupled with the increase in the need for new housing, uplifting the growth of the construction aggregates market.

The rise in population and urbanization, with the need to construct new projects is estimated to increase hugely, thereby leading to higher demand for construction aggregates.

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Key Takeaways from the Market Study

Sales of the construction aggregates market expanded at a CAGR of 3.2% from 2018 to 2022.

Growth rate of Asia Pacific for the construction aggregates market is likely to expand at a share of 5.2%.

Demand for construction aggregates was at 3.8% CAGR from 2016 to 2020.

North America is estimated to capture a market share of 42%.

The United States is said to hold a market share of 26.8%.

Construction aggregates market in the United Kingdom is projected to expand at a CAGR of 4.33%.

Germany is said to hold a significant share in its region consisting of a market share of 16.2%.

Construction aggregates market in China is anticipated to reach a market valuation of US$ 143.3 billion.

Increasing urbanization and industrialization in the country China rises with a CAGR of 3.88%.

Asia Pacific holds an important position in this market sector with a share of 20.3%

India’s market is likely to rise prominently at a growth rate of 5.3%

Crushed Stone is said to have a dominant position.

Crushed stone in the construction aggregate sector rises with a growth rate of 4.2%.

Applications in Infrastructure are predicted to hold a leading position.

Infrastructure segment is expected to generate maximum revenue in the construction aggregates market with a share of 33%.

“Impact of Digital Transformation Acts as a Driving Key in Construction Aggregates Market”, comments by Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.

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Competitive Landscape

Some of the Prominent Players in the Global Market are:

Heidelberg Cement AG
Martin Marietta Materials Inc
LSR Group
LafargeHolcim Ltd.
Cemex SAB de CV ADR
Vulcan Materials Company
CRH plc
Adelaide Brighton Ltd.
Eurocement Group
ROGERS GROUP INC.

Some of the Important Developments of the Key Players in the Market are:

In December 2022, Rogers Group published the memoirs of long-time collaborator Guy Hugnin.

In April 2023, PJSC LSR Group (“LSR” or the “Company”) (MOEX: LSRG), one of the leading real estate developers and building materials producers in Russia, today announces its operating results for the first quarter of 2023.

In May 2023, Lehigh Hanson, Inc. announced it has now changed its brand to Heidelberg Materials effective immediately as this exciting new brand identity goes into effect today for the company’s corporate office and its core brands of Lehigh Cement and Hanson Aggregates. The majority of the company’s other subsidiaries in the United States and Canada will change their brands to Heidelberg Materials in the coming months.

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Construction Aggregates Market by Category

By Product Type:

Crushed Stone
Sand
Gravels

By Application Type:

Commercial
Residential
Industrial
Infrastructure

By Region:

North & Central America
South America
India
China
Australia & New Zealand
The Middle East and Africa
Rest of Asia Pacific
Southern & Western Europe
CIS & Eastern Europe
Northern Europe

About the Chemicals and Materials Division at Future Market Insights

The chemicals and materials team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in the Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Have a Look at Related Reports in Chemicals & Materials Domain:

The global construction polymer market is projected to attain a valuation of US$ 244.7 billion in 2023 and is estimated to reach US$ 472.4 billion by 2033 while exhibiting a CAGR of 6.8% during the forecast period.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Ankush Nikam
Future Market Insights, Inc.
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