Construction Aggregates Market Size - By Product (Sand, Gravel, Crushed Stone), By Application (Residential, Commercial, Nonbuilding Construction), Industry Analysis Report & Global Forecast, 2023-2032

Construction Aggregates Market Size

Construction Aggregates Market size surpassed USD 450.3 billion in 2022 and is expected to grow at 6% CAGR from 2023 to 2032. Robust growth in the construction sector, followed by increasing urbanization, expansion of residential, commercial & industrial infrastructure, and rising government spending on public infrastructure are the major factors driving industry growth.

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The overall demand for residential, commercial, and industrial infrastructure will favorably impact the construction aggregates business landscape. According to the Associated General Contractors (AGC), the construction industry in the U.S. creates about USD 1.8 trillion worth of structures every year. As per Eurostat, around 5.6% of the GDP of the European Union was invested in housing in 2021.

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The rising emphasis on environmental sustainability has led to the increasing number of green buildings and regenerative construction practices. These techniques often need construction aggregates, especially recycled aggregates, to reduce ecological impacts. The adoption of green building standards including LEED and BREEAM also supports the use of sustainable & locally sourced construction materials; this will significantly propel the construction aggregates market growth.

Developments in manufacturing technology have allowed for the production of various types of high-quality & durable construction aggregates to suit varied construction needs. Innovations including the production of manufactured sand from crusher dust and the recycling of construction & demolition waste into construction aggregates are boosting industry expansion.

COVID-19 Impact

Mandatory shutdowns and social distancing norms led to a temporary pause in construction activities globally, causing a slump in the demand for construction aggregates. Many countries implemented lockdowns and travel restrictions, which disrupted supply chains and affected the availability of construction materials. Quarries and mining operations were temporarily shut down, leading to a shortage of raw materials for aggregates production. The market regained its growth trajectory owing to the recovering economic growth across nations and the resumption of construction activities.

Construction Aggregates Market Analysis

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Crushed stone segment held 40% of the construction aggregates market share in 2022 and will foresee 6% growth rate through 2032. The varied granularity of crushed stone makes it suitable for use in different applications, thrusting the industry demand. The sector will flourish due to its pivotal role in infrastructure development projects globally, particularly in developing economies. Rapid urbanization and the rising government investments in infrastructure projects are the primary factors fostering business development. The soaring real estate sector, which requires high-quality construction materials for building activities, will also augment the product demand.

With the rising emphasis on sustainability in the construction sector, the use of recycled aggregates has become a significant factor for industry expansion. These aggregates are often used as a more sustainable alternative to primary aggregates, thereby contributing to the circular economy and reducing the environmental impacts caused by construction activities. Increasing focus on green construction and waste management will have a positive impact on the market progression worldwide.

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The nonbuilding construction aggregates market held significant share in 2022 and generated revenue of around USD 144 Billion. The nonbuilding segment requires huge volumes of construction aggregates. The ongoing expansion of transportation infrastructure owing to rapid urbanization and economic development is a major factor driving business expansion. Various initiatives including the Belt and Road Initiative in China are also creating major opportunities for industry advancements.

The residential construction aggregates industry accounts for a considerable share. The escalating world population and rapid urbanization are leading to an increased housing demand, driving segment growth. The rise in living standards and increasing disposable incomes have augmented the need for high-quality residential infrastructure, thereby favoring the industry demand. The trend of continuous growth in the residential construction business is expected to persist over the forecast period, especially in emerging economies. Government initiatives for affordable housing as well as the entrance of innovative construction practices that incorporate high-quality construction aggregates will further fuel sector growth.

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Asia Pacific construction aggregates market is poised to attain 6.3% gains between 2023 and 2032.  The region is witnessing a rise in construction activities due to rapid urbanization, growing populations, and increasing infrastructural development activities. Government projects, such as the India’s ‘Housing for All’ and China’s ‘Belt and Road Initiative’, significantly contribute to the rising demand for construction aggregates. The shift toward sustainable construction practices and recycled aggregates in these markets will also lead to new growth opportunities.

North America construction aggregates industry expansion can be attributed to the public & private investments in infrastructure projects. The proposed Infrastructure Plan of the U.S. government, which deals with the revamping & upgrading of the country's infrastructure, is expected to provide a substantial market demand. This plan, which deals with the creation of durable & resilient infrastructure, relies heavily on high-quality construction aggregates. The green building regulations of Canada including the National Energy Code for Buildings are pushing the demand for sustainable construction aggregates. Such government initiatives are expected to lead the business revenues by 2032.

Construction Aggregates Market Share

The global construction aggregates market is highly competitive owing to the presence of numerous international & regional players. The major players include

• Vulcan Materials Company
• HeidelbergCement AG
• LafargeHolcim Ltd
• CRH plc
• CEMEX S.A.B. de C.V.

The companies in this market engage in strategies including mergers, acquisitions, partnerships, and investments in R&D for sustainable & innovative product development as well as for the maintenance of a competitive edge.

Construction Aggregate Industry News

• In April 2023 HOLCIM launched its circular economy platform to recycle construction demolished materials into new building aggregates. With this platform the company aims to recycle a broad range of demolished materials which include decarbonized raw materials in low-carbon cement formulation, aggregates in concrete and fillers, etc.
• In January 2023 CEMEX announced that it has signed an agreement to purchase the assets of Atlantic Minerals Limited. With this investment, CEMEX establishes a new long-term aggregates resource for its substantial Florida operations and the US east coast, as well as a supply for chemical-grade stone servicing a larger geographic area.

This construction aggregates market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons and revenue in USD Million from 2018 to 2032 for the following segments

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Market, By Product

• Sand
• Gravel
• Crushed stone
• Others

Market, By Application

• Residential
• Commercial
• Nonbuilding construction

Market, By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East
  • South Africa
  • Saudi Arabia
  • UAE