Aggregates Market

Global Aggregates Market:

The global aggregates market size reached USD 569.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 758.1 Billion by 2033, exhibiting a growth rate (CAGR) of 3.07% during 2025-2033. Rising levels of urbanization and increasing number of infrastructure development projects are driving the market growth.

Global Aggregates Market Analysis:

• Major Market Drivers: Increasing investments in infrastructure projects, such as roads, bridges, airports, and railways, are driving the demand for aggregates globally, particularly in emerging economies. Furthermore, the expansion of the construction industry, propelled by population growth, urbanization, and economic development, is also creating a positive outlook for the market.
• Key Market Trends: Innovations in aggregate extraction, processing, and transportation technologies are improving efficiency, reducing environmental impact, and enhancing product quality, thereby driving market competitiveness. Moreover, increasing emphasis on sustainable construction practices is leading to the use of recycled aggregates, alternative materials, and eco-friendly production processes, which is propelling the aggregates market share.
• Competitive Landscape: Some of the leading companies operating in the global market include ADBRI Limited, Cement Industries of Malaysia Berhad (United Engineers Malaysia Berhad), Cemex S.A.B. de C.V., China Resources Cement Holdings Limited, CRH Plc, Eurocement Group, HeidelbergCement AG, LafargeHolcim Ltd, LSR Group, Martin Marietta Inc., Rogers Group Inc., and Vulcan Materials Company, among others.
• Geographical Trends: According to the report, Asia-Pacific dominates the global market. With growing construction activities in countries such as China, India, and Japan, the consumption of aggregates is increasing in the region.
• Challenges and Opportunities: Environmental concerns regarding quarrying, permitting issues, and transportation costs pose obstacles to the aggregates market. However, the growing demand for sustainable construction materials, infrastructure development projects, and technological innovations offers avenues for market expansion and differentiation.

Global Aggregates Market Trends:

Increasing Number of Residential Construction Projects

The elevating levels of urbanization and a significant rise in rural population migrating to urban areas are primarily driving the demand for residential establishments, which in turn is creating a positive outlook for the global aggregates market. Aggregate materials are mixed with cement, bitumen, lime, gypsum, or other adhesives to form concrete or mortar that forms a major part of building blocks. Moreover, the government authorities and private builders of various countries, especially developing nations, are increasingly investing in the development of the housing sector. For instance, Under the Pradhan Mantri Awas Yojana, the Indian government sanctioned the construction of 3.61 lakh homes in November 2021. In addition, with the clearance of the new housing units, 1.14 crore homes have already been approved for the program. Similarly, Saudi Arabia's housing demand is expected to rise by more than 50% by 2030, reaching 153,000 dwellings from 99,600 in 2021. To reach a housing stock of 4.96 million houses by 2030, the Kingdom will need to build approximately 1.2 million new homes over the next decade. Besides this, many multi-families housing construction projects are commenced to meet the increasing demand in Europe. For instance, the Sackville Road Residential Community project (US$ 332 Million) involves the construction of a residential community comprising six blocks ranging from 2 to 15 stories on 3.59 ha of land in Hove, the UK. Such a significant rise in residential construction projects across the globe is anticipated to propel the aggregate market value in the coming years. 

Rising Investments in Infrastructure Development

Increasing investments in infrastructure development projects globally are driving the demand for aggregates as they serve as essential construction materials for building roads, bridges, airports, and other infrastructure facilities. Government authorities of various nations are increasingly focusing on developing smart cities and improving the existing infrastructure, which is offering lucrative growth opportunities to the overall market. For instance, in November 2022, the Ministry of Road Transport and Highways sanctioned projects worth INR 68,000 crore (~US$ 8.25 billion) in India, thereby providing a positive outlook to the global aggregates market. Moreover, the rising number of national highways and airports is also contributing to the demand for aggregates. For instance, the Federal Aviation Administration (FAA) of the US Department of Transportation allocated over US$ 479 Million in funding to support airport infrastructure projects across all 50 states, Puerto Rico, and American Samoa, benefiting a total of 123 projects. Similarly, Dubai International Airport will undergo a revamp, which will likely continue for the next 5-7 years, and this will lead to DXB handling up to 120 million annual passengers within the next 15 years. Such investments drive the market growth, presenting opportunities for aggregate producers and suppliers to meet infrastructure demands globally.

Sustainability Initiatives

Increasing emphasis on sustainable construction practices is leading to the use of recycled aggregates, alternative materials, and eco-friendly production processes, influencing market dynamics and shaping consumer preferences. Moreover, various key market players are focusing on adaption sustainable production practices, which is creating a positive outlook for the overall market. For instance, in November 2022, LSR Group entered the insulation market with the production of 'LSR TERMO' aerated concrete insulation, which is environmentally friendly and has high fire resistance, lightness, and durability. Similarly, in June 2024, the UK's newest aggregate manufacturing plant was officially opened in Wellingborough to provide low-carbon secondary aggregate to help meet the Midlands' construction needs. The plant is anticipated to transform around 200,000 tons per year of incinerator bottom ash (IBA) left over from the energy-from-waste (EfW) process into EcoBlend, a sustainable manufactured aggregate for use in the built environment. Furthermore, consumers are increasingly favoring environmentally responsible construction materials and processes, prompting industry players to innovate and invest in sustainable practices. As a result, the market sees a shift towards more sustainable options, fostering a more environmentally conscious approach to construction while meeting the growing demand for eco-friendly products. This, in turn, is projected to bolster the aggregate market size over the forecasted period.

Global Aggregates Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global aggregates market report, along with forecasts at the global, regional, and country levels from 2025-2033. Our report has categorized the market based on type and application.

Breakup by Type:

• Crushed Stone
• Sand
• Gravel
• Others

Crushed stone currently holds the largest market share

The aggregates market report has provided a detailed breakup and analysis of the market based on the type. This includes crushed stone, sand, gravel, and others. According to the report, crushed stone currently holds the largest market share.

Crushed stones offer numerous benefits in various applications. Their angular shape and interlocking qualities make them ideal for use in road construction, providing stability and durability. Additionally, they are widely used as base materials for foundations, drainage systems, and landscaping projects due to their load-bearing capacity and drainage properties. Crushed stones also serve as cost-effective aggregates in concrete production, enhancing its strength and performance while reducing the need for natural aggregates.

Breakup by Application:

• Concrete
• Road Base and Coverings
• Others

Concrete exhibits a clear dominance in the market

The report has provided a detailed breakup and analysis of the market based on the application. This includes concrete, road base and coverings, and others. According to the report, concrete exhibits a clear dominance in the market.

As per the aggregates market overview by IMARC, concrete is favored for its versatility, durability, and cost-effectiveness in construction. Its high compressive strength makes it ideal for structural applications due to which it is increasingly being used in the construction of buildings, bridges, roads, and infrastructure. Additionally, the significant rise in the infrastructure development projects is also contributing to the segment’s growth. For instance, in 2021, the Philippine government advocated for infrastructure development as a catalyst for substantial economic recovery. The Department of Public Works and Highways received US$ 6.5 Billion for bridge construction, flood management, asset preservation, and transportation network development as part of the 2021 national budget, which placed a heavy emphasis on infrastructure projects. Apart from this, concrete offers thermal mass properties for energy efficiency and can be molded into various shapes and finishes. Additionally, its fire resistance and low maintenance requirements enhance its appeal. With advancements like self-healing concrete and sustainable formulations, concrete remains a cornerstone of modern construction practices.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

Asia-Pacific currently dominates the global market

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia-Pacific currently dominates the global market.

With growing construction activities in countries such as China, India, and Japan, the consumption of aggregates is increasing in the Asia-Pacific region. Moreover, the rising number of infrastructure development projects in the region is also contributing to the growth of the market. For instance, according to the Chinese Ministry of Water Resources, CNY 703.6 billion (~ US$ 98 Billion) was invested in water-conservation infrastructure projects in 2022, a 63.9% increase over the same time in 2021. Similarly, in India, the Ministry of Road Transport and Highways sanctioned projects worth INR 68,000 crore (~US$ 8.25 Billion) in November 2022. Additionally, the increasing foreign direct investment in the region is also offering lucrative growth opportunities to the overall market. For instance, according to the Department for Promotion of Industry and Internal Trade (DPIIT), foreign direct investments in the construction development sector (townships, housing, built-up infrastructure, and construction development projects) and construction (infrastructure) activities stood at US$ 28.64 Billion and US$ 26.22 billion respectively, between April 2000 and June 2022.

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the following key players:

• ADBRI Limited
• Cement Industries of Malaysia Berhad (United Engineers Malaysia Berhad)
• Cemex S.A.B. de C.V.
• China Resources Cement Holdings Limited
• CRH Plc
• Eurocement Group
• HeidelbergCement AG
• LafargeHolcim Ltd
• LSR Group
• Martin Marietta Inc.
• Rogers Group Inc.
• Vulcan Materials Company

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Global Aggregates Market News:

• June 2024: The UK’s newly opened aggregates manufacturing plant provided sustainable materials for Midland’s construction projects. The plant is anticipated to transform around 200,000 tonnes per year of incinerator bottom ash (IBA) left over from the energy-from-waste (EfW) process into EcoBlend, a sustainable manufactured aggregate for use in the built environment.
• February 2024: Prominent construction materials supplier, Aggregate Industries, launched Foamix Eco, a groundbreaking, onsite asphalt material that can achieve carbon neutral status.

Global Aggregates Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the aggregates market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global aggregates market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the aggregates industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.