Construction aggregates market in US to grow by USD 17.14 billion from 2023 to 2028; The rising emphasis on sustainable construction practices to drive market growth- Technavio

NEW YORK, Nov. 17, 2023 /PRNewswire/ -- The construction aggregates market in US is expected to grow by USD 17.14 billion between 2023 and 2028. However, the growth momentum of the market will progress at a CAGR of  8.36% during the forecast period. The market is segmented by product (crushed stone, sand, and gravel), type (coarse and fine), and end-user (non-building, residential, and non-residential).

The rising emphasis on sustainable construction practices is the key factor driving market growth. The sustainable construction transition is pushed by factors such as environmental conditions, resource starvation, and government regulations encouraging sustainability. One significant factor driving the focus on sustainable construction practices is the growing awareness of environmental impact. Moreover, another factor contributing to the focus on sustainability is resource scarcity.

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Key Higlights:

• The report recognizes the following as some of the key players in the construction aggregates market in US: Anglo American plc, Arcosa Inc., Boral Ltd., Buzzi SpA, Carmeuse Coordination Center SA, Cementir Holding NV, CEMEX SAB de CV, CRH Plc, EUROCEMENT Group, Fisher Sand and Gravel Co., HeidelbergCement AG, Holcim Ltd., Irving Materials Inc., LSR Group, Martin Marietta Materials Inc., Rogers Group Inc., RW Sidley Inc., Top Grade Site Management LLC, Vicat, and Vulcan Materials Co.
• The construction Aggregates Market in US is fragmented in nature.
• Market to observe 8.08% YOY growth in 2024.

Market Dynamics:

Key Trend

• The rise in the adoption of new construction materials in US is the primary trend shaping market growth. 
• Alternative materials, including concrete, steel, and wood, are replaced by innovative technologies offering improved performance, sustainability, as well as cost-effectiveness.
• New materials deliver opportunities for raised building efficiency, reduced environmental impact, and greater energy efficiency. 

Significant Challenge 

• Fluctuating material costs is a significant challenge that affects market growth. 
• Factors such as the supply and demand dynamics, costs of transport, and market requirements are to be taken into consideration when determining prices for construction aggregates like sand, gravel, or crushed stone.
• The prices of raw materials used in the production of construction aggregates, such as fuel, steel, and chemicals, can be volatile significantly due to factors like global supply and demand, geopolitical events, and economic conditions.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Key Segments:

The crushed stone segment will account for a major share of the market's growth during the forecast period. In road construction and maintenance, crushed stone is an important use of aggregate. In the construction of drainage systems, crushed stone construction aggregates are used as a filling material. The US is the largest producer of crushed stone as demand for it has increased in the construction industry. As construction activities in the US are increasing due to higher government spending on road construction and maintenance, the demand for crushed stone construction aggregate is expected to grow significantly during the forecast period.

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Related Reports:

The construction market is estimated to grow at a CAGR of 5.3% between 2022 and 2027. The size of the market is forecast to increase by USD 1,123.8 billion. 

The construction dumper market size is estimated to grow at a CAGR of 4.85% between 2023 and 2027. The market size is forecast to increase by USD 3,505.05 million. 

ToC:

Excustive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product 

Market Segmentation by End-user 

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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