Global Construction Aggregates Market worth over US$565.8bn by end of 2026
It is reported that the global construction aggregates market is tipped to be valued at over US$565.8 billion by the end of 2026 by Persistence Market Research (PMR). Over an eight-year projection period 2018-2026, PMR,expects the market to see a compound annual growth rate (CAGR) of 6.8%.
Exploding industrialization and urbanization to create high demand prospects in China, the rest of Asia Pacific, and rapidly thriving economies in South East Asia. PMR says China will however remain the global leader throughout the forecast period, 2018-2026. Furthermore, developing regions such as Middle East & Africa and Latin America will reportedly represent low-volume high-growth markets, owing to rapid growth of the construction industry and increasing number of organizational tie-ups.
Among product types, the PMR report says that crushed stone is estimated to hold a significantly large share of the total market revenue, owing to exponential infrastructure development. Sand is also one of the key product types; however, PMR says manufactured sand will gradually replace natural sand over the assessment period.
The report notes that the infrastructure sector currently accounts for a sizable global construction aggregates market value share of more than 40, followed by the residential sector with around 25% share. Expanding government investments towards rail and road infrastructure projects, such as remodeling of old airports and development of new airport structures,are presumed to extend strong support to the sales of construction aggregates.
The PMR report forecasts that aggregates recycling, which involves breaking, removing, and crushing existing aggregates into the materials of specified quality and size, will potentially gain in popularity higher, as the process of aggregate recycling preserves the natural resources intact, offering efficiency in terms of both cost and energy.
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