The worldwide construction aggregates market is estimated to be valued at $592.7 billion by 2025, according to a study by Persistence Market Research. The market is projected to grow at a compound annual growth rate (CAGR) of 5.3 percent through 2025 on account of the continuing large-scale infrastructure expansion projects carried out by the governments of numerous countries, along with a focus on transportation services and reinforced power generation.
The latest technological improvements for the production of aggregates is directed towards improved manufacturing processes, greater output and improved quality of products. These factors are driving the overall market growth of the global construction aggregates market.
Heavy investments are made by the government of various countries for infrastructure expansion that require a considerable amount of construction aggregates, whereas, commercial construction purposes also carry on to develop at a balanced rate. The infrastructure segment is expected to be evolving as the highest productive division by 2025 end which will be valued nearly $276.4 billion.
Based on the product type, the international market is divided into gravel, crushed stones, sand and other aggregates. Amid the product types, the sand division will continue to be lucrative, accounting for nearly 44 percent share in the overall construction aggregates market all through 2017. The crushed stone division is estimated to be the second largest segment, accounting for nearly 40 percent market share by 2017 end.
India and China are anticipated to continue as the two foremost markets for construction aggregates during the projection period, because of the overpowering development in the construction sector in these two nations.
China is valued to hold nearly 26.8 percent market share by the end of 2025. In the meantime, the strong urbanization together with emphasis by the government to amend the amenity duration of many public utilities in India are likely to be the significant factors fueling the demand for construction aggregates in the country.
The markets in Central and North America are similarly expected to see notable development throughout the forecast period.