According to the new report “Global Construction Aggregates Market – Key Trends and Opportunities to 2017,” the global construction aggregates market was valued at more than $99 billion in 2012, of which the Asia-Pacific region constituted a 42.5 percent share, making it the largest regional market for construction aggregates in the world.
The report was issued by Reportlinker.com.
In the same year, Europe and North America were the second- and third-largest regional markets, representing respective shares of 26.9 percent and 20.8 percent. Continuing economic uncertainty in Europe and a gradual recovery in the U.S. are expected to reduce these regional market shares.
Growing economies in the Asia-Pacific, in particular China, India and Indonesia, are expected to reduce the market shares of Western regions, as the rapid development of infrastructure and other construction markets in these areas increases the demand for construction aggregates. The market shares of the European and North American regions are expected to reach 22.7 percent and 20 percent, respectively, in 2017, down from 2012, while the Asia-Pacific region is forecast to increase its share to 47.6 percent by 2017.
Key Highlights of the report are:
- The global construction aggregates market valued over $99 billion in 2012, of which the Asia-Pacific region constituted a 42.5 percent share, making it the largest regional market for construction aggregates in the world.
- In terms of growth, the global construction aggregates market recorded a CAGR of 2.40 percent during the review period. A key factor for this low growth was a decline in the market by 9.8 percent in 2009.
- The Asia-Pacific construction aggregates market valued over $40 billion in 2012. China constituted the largest share of the regional market with 66.1 percent in 2012.
- Future growth will be driven by large-scale infrastructure development undertaken in emerging economies, and the easing of the economic crisis in Europe. However, the slowdown in Asia, the gradual U.S. recovery and uncertainty in Europe will moderate growth.
- Crushed stone was the largest category in the market during the review period. The category valued over $44 billion in 2012, constituting a 44.8 percent share in the global market.
- Infrastructure networks in developed countries are well established, and many use lower amounts of aggregates and concrete in construction. The majority of construction work in these countries will be limited to repairs and upgrades of existing infrastructure, and demand for construction aggregates will be less than in emerging nations.
- Increasing traffic congestion in urban areas worldwide has forced governments to invest in mass transit projects such as metro railways. GCC nations, in particular, have earmarked large sums of money in the development of a rail network to connect national and regional locations. These developments are expected to drive demand for construction aggregates.
- Stringent environmental and land use regulations in place in developed countries are expected to boost demand for recycled and secondary construction aggregates (waste-based aggregates) such as blast-furnace slag and crushed hydraulic concrete.