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Feb. 24, 2021, 2:57 a.m. EST

Aggregates Market Demand, Growth, Business Opportunities, CAGR of 5.8%, Manufacturers and Research Methodology by 2027

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Feb 24, 2021 (Market Insight Reports) -- Increasing technological innovation for aggregate production to improve manufacturing process efficiency and productivity with high product quality will drive the Aggregates market.

Market Size - USD 458.97 Billion in 2019, Market Growth – CAGR of 5.8%, Market Trends - High demand from developing nations.

The global Aggregates market is forecast to reach USD 723.28 Billion by 2027, according to a new report by Reports and Data. The market is seeing an expanded interest from the concrete industry for commercial purposes due to its usage in concrete and cement manufacturing, railway ballast, and road base and coverings. Infrastructure aging and the growing construction industry are projected to fuel the growth of the demand for building aggregates over the forecast period. Investment in technology is likely to be a primary priority in the coming years. Developed and emerging countries also depend on expanding the infrastructure market.

Construction aggregate is a broad category of medium-grained particulate used in construction applications. It is extensively used for cement and concrete manufacturing, road base & coverings, railway ballast, and others. According to a recent report by Reports and Data, the Global Aggregates Market size is estimated to reach USD 723.28 Billion from USD 458.97 Billion at a CAGR of 5.8% through 2027.

Some of the players profiled in the report are Martin Marietta Materials Inc., HeidelbergCement AG, LafargeHolcim, Eurocement Group, CEMEX S.A.B. de C.V., CRH plc, Vulcan Materials Company, L.S.R. Group, Adelaide Brighton Ltd., and Hanlon Concrete

Get the sample copy of the report @ https://www.reportsanddata.com/sample-enquiry-form/3228

Market Drivers

The market growth is driven by rise in technological innovation for aggregate production to optimize manufacturing process and productivity and enhance product quality. Increasing requirement for the refurbishment of ageing infrastructure and growing construction industry, especially in the emerging economies is predicted to fuel the demand for building aggregates in the upcoming years. According to India’s 2019 economic survey, it spends nearly USD 200 billion annually, which is 7%-8% of the country's GDP. The Middle East is also spending heavily on infrastructure development projects. Increasing investments in leading regions is also contributing to market growth.

Population expansion in emerging economies and healthy economic development and particularly in the Middle East and APAC is expected to offer lucrative growth opportunities for the aggregates industry.

Further key findings from the report suggest

  • Based on product type, sand generated a revenue of USD 58 billion in 2019 and is expected to grow with a CAGR of 6.0% in the forecast period, owing to its wide variety of applications in concrete production along with cement, coarse aggregates, and water.

  • The concrete industry expected to grow with a CAGR of 5.6% in the forecasted period due to numerous regulatory reforms, including the introduction of real estate regulatory bills and the inclusion in the real estate sector of 100.0% foreign direct investment.

  • The commercial sector is the major contributor to the Aggregates market. The commercial sector of the Asia Pacific region is the major shareholder of the market and held around 32.3% of the market in the year 2019 owing to various government measures, such as a lowered number of regulations and taxes.

  • The Asia Pacific region dominated the market for Aggregates in 2019. Driving the market is the region’s strong emphasis on cost-effective and advanced procedures implemented in the industry. The Asia Pacific region held approximately 65.0% of the market, followed by North America, which held around 17.0% market in the year 2019.

Product Type Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)

  • Crushed Stone

  • Sand

  • Gravel

  • Others

End-User Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)

  • Concrete

  • Road Base & Coverings

  • Others

Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)

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