Aggregates Market Size Worth $602.9 Billion By 2027 | CAGR: 3.3%

Aggregates Market Growth & Trends

The global aggregates market size is projected to reach USD 602.9 billion by 2027 registering a CAGR of 3.3%, according to a new report by Grand View Research, Inc. The market growth is driven by the rising product demand from transport infrastructure and building & construction sectors. Aggregates is a key construction material used for applications such as manufacturing of concrete, roadway construction, and others.

The global market is expected to witness a sharp decline in 2020 owing to the COVID-19 pandemic and the subsequent halt in construction activities. Key countries of Asia Pacific, Europe, and North America have announced plans to unleash massive amounts of fiscal stimulus to reduce the drastic effects of the pandemic. For instance, a package of USD 2 trillion by the U.S. government is expected to boost construction spending and benefit the aggregates demand in the short term.

China is the largest consumer of aggregates in the world due to its vast construction industry and a well-established concrete production base. Furthermore, increased construction spending in China, India, and Southeast Asia is anticipated to drive the market over the coming years. Companies are adopting various strategies, such as capacity expansions and mergers & acquisitions, to strengthen their market position and increase sales.

For instance, in 2019, LafargeHolcim made 8 bolt-on acquisitions in aggregates & ready-mix concrete businesses. The acquired companies include Bedrock Redi-Mix Canada, Transit Mix Colorado, Maxi Readymix Concrete U.K., Colorado River Concrete Texas, Donmix Australia, Sibelco Australia, Somanco Romania, and Alfons Greten Germany.

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Aggregates Market Report Highlights

• Crushed stone led the market in 2019 with a volume share of 59.0% owing to its extensive usage in roadway construction

• Concrete application is predicted to register the fastest CAGR of 3.6%, in terms of revenue, from 2020 to 2027 due to rising demand from the residential construction sector

• The global market is expected to witness a sharp contraction of 7.1% in 2020 owing to the COVID-19 pandemic and the subsequent halt in construction activities

• Asia Pacific was the dominant region in 2019 and held a volume share of over 67% owing to significant construction spendings in emerging economies such as China, India, and Indonesia

• Capacity expansion and acquisition are the key strategies adopted by the market players to signify their presence and sustain the competition

Aggregates Market Segmentation

Grand View Research has segmented the global aggregates market on the basis of type, application, and region:

Aggregates Type Outlook (Volume, Billion Tons; Revenue, USD Billion, 2016 - 2027)

• Crushed Stone

• Sand

• Gravel

• Others

Aggregates Application Outlook (Volume, Billion Tons; Revenue, USD Billion, 2016 - 2027)

• Concrete

• Road Base & Coverings

• Others

Aggregates Regional Outlook (Volume, Billion Tons; Revenue, USD Billion, 2016 - 2027)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • U.K.

• Asia Pacific

  • China

  • India

• Central & South America

  • Brazil

• Middle East & Africa

List of Key Players of Aggregates Market

• LafargeHolcim

• Martin Marietta

• LSR Group

• HeidelbergCement AG

• CEMEX S.A.B. de C.V

• Vulcan Materials Company

• CRH plc

• Adelaide Brighton Ltd

• Eurocement Group

• Rogers Group Inc.