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(EstateNewsWire.com, January 04, 2018 ) The global construction aggregates market is projected to witness steady growth on account of steady recovery in the global construction sector. Announcement of mega projects in developing countries, and push from marquee events such as upcoming Olympics and FIFA World Cup are also likely to impact the growth of the market.
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A new research report “Construction Aggregates Market: Global Industry Analysis and Opportunity Assessment, 2016-2024” highlighting the key governing factors on the construction aggregates market has been added to the vast repository of Market Research Hub. The report offers quantitative and qualitative insights on the construction aggregates market, offering key insights that stakeholders can implement in their strategy.
According to the report, construction aggregates landscape is witnessing evolving trends, as focus shifts to sustainable development.
Recycled aggregates are steadily making their way into construction projects, and it is highly likely that their demand will increase during the assessment period. The recovery in the U.S. construction sector, combined with robust spending on infrastructure projects China and India is likely to provide growth opportunities to construction aggregates manufacturers. On account of the broader macroeconomic and microeconomic factors, the demand for construction aggregates is likely to witness steady growth rate of over 6% during the assessment period. In terms of revenue, the market is projected to reach a valuation of over US$ 468 Mn by the end of 2024.
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Use of construction materials in infrastructure development is likely to create surging growth opportunities for manufacturers and suppliers. According to the report, demand from infrastructure sector is likely to create a steady stream of growth opportunities in the market. Among the different types of construction aggregates, sand will continue to account for the bulk of revenues during the assessment period.
China remains the dominant market in terms of revenues globally, growing at a promising rate of 4.7% during the assessment period. North America is another lucrative market, and the housing market is likely to create growth opportunities for construction aggregates during the assessment period. The Middle East and Africa is also expected to witness steady growth of the construction aggregates sector.
Many economies in Middle East have remained dependent on oil exports for sustaining growth, however, the prevailing oil crisis has meant that many countries are now focusing on building infrastructure and services industry. These broader trends are likely to augur well for the growth of the market during the assessment period. Some of the leading players in the global construction aggregates market include Heidelberg Cement AG, Inc., EUROCEMENT Holding AG, Vulcan Materials Company, Martin Marietta Materials, LSR Group PJSC, LafargeHolcim Ltd., CEMEX S.A.B. de C.V., and CRH plc.
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