Dallas, Texas (March 29, 2019)—According to a new market report published by Lucintel, the future of the global construction aggregate market looks good with opportunities in the infrastructure, residential and non-residential construction industries. The global construction aggregate market is expected to reach an estimated $452.4 billion by 2024 with a compound annual growth rate (CAGR) of 2.7% from 2019 to 2024. The major growth drivers for this market are growth in residential and non-residential construction activities, increasing urbanization and rising per capita income.
In this market, different types of construction aggregate, such as sand and gravel, crushed stone, and other aggregates are used as product type. On the basis of comprehensive research, Lucintel forecasts that crushed stone will remain the largest product type over the forecast period due to its high durability. Lucintel predicts that sand and gravel will witness the highest growth during the forecast period due to its easy availability and low price. The growth for the sand and gravel segment will also be driven due to increasing demand in the residential industry.
Asia Pacific is expected to remain the largest market and witness the highest growth over the forecast period supported by increasing urbanization and building construction activities.
Emerging trends, which have a direct impact on the dynamics of the construction aggregate market, include increasing adoption of pea gravel and the growing use of recycled stone. Heidelberg Cement, Lafarge Holcim, Martin Marietta, Vulcan Materials Company and CRH Plc are among the major construction aggregate manufacturers.
Lucintel, a global strategic consulting and market research firm, has analyzed and forecasted for the global construction aggregate market by end use, product type, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Construction Aggregate Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
For more information, visit lucintel.com.
