First publishedin Aggregates Business International
The global construction aggregates market is tipped to be valued at over US$565.8 billion by the end of 2026, according to a new report by Persistence Market Research (PMR). Pic - Metso
The global construction aggregates market is tipped to be valued at over US$565.8 billion by the end of 2026, according to a new report by Persistence Market Research (PMR). Over the period 2018-2026, PMR, a leading U.S.-based global business market research consultancy, expects the market to see a compound annual growth rate (CAGR) of 6.8%.
Exploding industrialisation and urbanisation will continue 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 the Middle East & Africa and Latin America will reportedly represent low-volume high-growth markets, owing to rapid growth of the construction industry and increasing numbers of organisational 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.
Some of the leading players in the global construction aggregates market are said by the PMR report to include HeidelbergCement, Martin Marietta Materials, LSR Group, LafargeHolcim, CEMEX, Vulcan Materials Company, CRH, Eurocement Group, and Adelaide Brighton.
The new PMR report also forecasts that aggregates recycling will potentially gain in popularity. It states: “Growing demand for recycled construction aggregates is expected to efficiently conserve diminishing resources of urban aggregates, and effectively help local governments meet production targets.”