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The US - construction aggregates market size is estimated to grow at a CAGR of 8.36% between 2023 and 2028. The market size is forecast to increase by USD 17,140.28 million. The growth of the market depends on several factors, such as the increasing investment by the government for infrastructure development and the rising emphasis on sustainable construction practices. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.
This report extensively covers market segmentation by product (crushed stone, sand, and gravel), type (coarse and fine), and end-user (non-building, residential, and non-residential). It also includes an in-depth analysis of drivers, trends, and challenges.
US Construction Aggregates Market Forecast 2024-2028
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Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
The sustainable construction shift is driven by factors such as environmental situations, resource starvation, and government regulations encouraging sustainability. One important factor driving the focus on sustainable construction practices is the rising awareness of environmental impact. Moreover, construction activities can have negative effects on the environment, such as habitat destruction, pollution, and carbon emissions. Thus, there is a rising demand for construction aggregates that are sourced and produced in an environmentally responsible manner.
Moreover, another factor contributing to the emphasis on sustainability is resource scarcity. Furthermore, the adoption of sustainable construction practices can also have economic benefits. Hence, these factors are expected to increase the demand for construction aggregates, which will propel the growth of the US construction aggregates market during the forecast period.
Alternative materials, including concrete, steel, and wood, are being replaced or supplemented by innovative technologies offering enhanced performance, sustainability, as well as cost-effectiveness. Due to their lightweight, toughness, and environmentally friendly characteristics, materials, including engineered wood, recycled plastic, bio-based composites, and sophisticated polymers, are becoming more popular.
Moreover, new materials provide chances for increased building efficiency, decreased environmental impact, and greater energy efficiency. The US - construction aggregates market is predicted to experience significant change as a result of the raised focus on sustainable construction methods and innovative building materials, which is expected to drive the growth of the market in focus during the forecast period.
Different factors such as the supply and demand dynamics, costs of transport, and market conditions are to be taken into consideration when determining prices for construction aggregates like sand, gravel, or crushed stone. One major factor contributing to fluctuating material costs is the volatility of commodity prices. The prices of raw materials used in the production of construction aggregates, such as fuel, steel, and chemicals, can fluctuate greatly due to factors like global supply and demand, geopolitical events, and economic conditions.
Besides, regulatory restrictions on aggregate extraction and land-use policies may limit the available sources, leading to increased competition and potential shortages, which can further drive up prices. Therefore, these factors are anticipated to decline the adoption of construction aggregates, which may impede the growth of the market during the forecast period.
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 the predominant 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 is very high from the construction industry.
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The crushed stone segment was valued at USD 16,848.59 million in 2018. The rise in disposable incomes coupled with the low mortgage rates has resulted in higher demand for housing in the US. As the construction activities in the US are rising along with higher government spending on road construction and maintenance, the demand for crushed stone construction aggregate is expected to grow significantly during the forecast period.
Based on type, the market has been segmented into coarse and fine. The coarse?segment will account for the largest share of this segment.?Coarse aggregates are larger-sized particles of materials like gravel, crushed stone, or recycled concrete. They are generally used in foundations, drainage systems, road and highway construction, and concrete production. One of the main applications of coarse aggregates is in the construction of roads and highways. These aggregates supply steadiness and strength to the road surface, allowing it to withstand heavy traffic loads and harsh environmental conditions. Thus, these factors are expected to increase the demand for coarse aggregates, which will propel the growth of the coarse segment in the US - construction aggregates market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
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.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The US construction aggregates market report forecasts market growth by revenue and analyzes the latest trends and growth opportunities from 2018 to 2028.
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US Construction Aggregates Market Scope |
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Report Coverage |
Details |
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Page number |
155 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.36% |
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Market Growth 2024-2028 |
USD 17,140.28 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
8.08 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
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. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Market Segmentation by End-user
9 Customer Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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