Construction aggregates market 2016 - 2024
The global consumption of construction aggregates is expected to reach 62.9 billion metric tonnes by the end of 2024, up from 43.3 billion metric tonnes in 2016, in terms of volume. Sand will experience the maximum demand, recording an absolute incremental opportunity of nearly US$ 89 Bn over 2016-2024.
The global construction aggregates market is anticipated to witness a Y-o-Y growth of 6.3% in 2016. Increasing activities in infrastructure and renovation sectors are the key drivers propelling the demand for construction aggregates globally. In addition, macro economic factors such as industrialisation and urbanisation will continue to drive substantial demand. Other factors include; increasing tourism, an advancing commercial construction sector, and a thriving residential construction sector. A key trend in the market is the growing preference among manufacturers for recycled aggregates and manufactured sand.
Environmental pollution from construction activities poses a strong challenge to the growth of the global construction aggregates market. In addition, the market is expected to see lower growth because of the challenges of transportation, technological limitations, and seasonal variations. Depleting natural resources can also restrain growth.
On the basis of product type, sand will remain the largest segment, accounting for 44 % revenue share of the market in 2016. The crushed stone segment will bring in higher revenues compared to gravel and other aggregates.
Based on the application, the construction aggregates market is governed by four major applications; residential, commercial, industrial, and infrastructure, among which infrastructure is expected to account for the highest revenue share.
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