Report: Global construction aggregate market to reach $468 billion by 2024

Future Market Insights offers forecasts on the global construction aggregate market in its report titled, “Global Construction Aggregates Market: Industry Analysis and Opportunity Assessment, 2016–2024.”

New trends in construction aggregate, such as manufactured sand and recycled aggregate, along with rising investment in infrastructure globally, are driving the global construction aggregate market, says the report. On the flip side, the high cost of transportation, regulations concerning stringent zoning, seasonal factors and rising energy costs are expected to act as restraints to growth of the market.

Increased construction spending, especially in developing economies such as India and the Middle East, are some of the other major market drivers.

According to analysis results, the global construction aggregate market is expected to expand at a compound annual growth rate of 6.1 percent through 2024, reaching a market value of $468.2 billion.

Segmentation highlights
During the forecast period, the infrastructure segment will continue to account for the maximum share of the total construction aggregate market and is anticipated to expand at a healthy compound annual growth rate during the forecast period. By product type, sand will remain the largest revenue-generating segment; however, the crushed stone segment is expected to expand at a higher compound annual growth rate of 7.2.

Among regions, China is expected to dominate the construction aggregate market throughout the period, expanding at a modest compound annual growth rate of 4.7 percent in terms of value. In 2017, the Chinese market for construction aggregate will witness an impressive year-over-year growth of 7.2 percent compared with 2016. North America will constitute the next key market, accounting for more than 17 percent market value share by the end of the forecast period.

Future Market Insights is a market intelligence and consulting firm that produces syndicated research reports, custom research reports and consulting services.