Construction Aggregates Touted as the Future of Building Materials
As the gap between the demand and supply of natural sand remains unbridged, construction aggregates emerge as a viable solution to address the towering infrastructural requisites. With grave concerns apropos of natural resource depletion, construction aggregates have, and will persist as building blocks for the industrial, commercial, infrastructural, and residential development projects. Governments’ interest in housing projects and flourishing travel & tourism activities are likely to move the adoption scale of construction aggregates to a higher value.
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Foreseeing the unbalanced account of demand-supply ratio with the surging construction activities, manufacturers resort to recycling for achieving channelized supply and, in turn, eliminate disposal issues. With the degree of competition intensity rising by a notch on a frequent basis, manufacturers rely on two concrete strategies for their business growth –
- Partnering with governments for long-term contracts
- Raising the quality gradient to increase the life expectancy of buildings
Sensing the scramble of construction aggregates market towards a higher billion dollar value with intense competition present in the landscape, Persistence Market Research (PMR), in its latest report, evaluates latent dynamics that remain influential in tracing the growth prospects. With the information covered in the report, stakeholders can get a glance of the existing as well as emerging opportunities to brick up their position in the construction aggregates market.
Analysing the Maturity of the Construction Aggregates Landscape
The construction aggregates landscape continues to grow amidst the transmutation in the production process, degree of quality, and product types. As governments’ initiatives to steer the wheels of economic developments channel more funding into the transportation sector, road construction activities are likely to intensify. In 2018, construction aggregates registered a volume sales of ~47 Bn Tons, which corresponds to a value of ~US$ 300 Bn and is anticipated to draw more gains, considering the evolutionary nature of the landscape.
Constructors gravitate away from the massive and weighty construction aggregates to light and durable ones, owing to their quality as well as ease of transportation. In addition, customization acquires a distinguished place in the product portfolio of manufacturers, as a single size or shape does not suit the end-use applications well.
With innovation making inroads in the landscape, manufacturers employ advanced manufacturing equipment to meet the desired productivity and quality of construction aggregates, which further boosts their supply capability. However, as construction activities are adversely affected during rainy and winter seasons, demand for aggregates is likely to spectate seasonal spikes.
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Construction Aggregates – Feasible Building Blocks for Future Infrastructure
As digital sales channels surface, manufacturers expend in eCommerce portals to extend the reach of their products and have better chances at sales closure. Urbanization engendering industrialization have been collectively adding new dimensions to the adoption trends of construction aggregates.
Government initiatives towards the development and renovation of robust rail, road, and housing infrastructures have been boosting the adoption of construction aggregates. Beside infrastructure, the scope of construction aggregates has been broadening in residential projects, as financial lucidity of urban consumers offers them a leeway to invest in sophisticated homes.
For the construction activities, contractors prefer crushed stone over other product types, which accounts for ~48% of total sales. However, cost-effective manufactured sand has been witnessing significant traction, as natural sand presents low supply-to-demand ratio, making it a premium commodity.
‘Recycling’ is likely to remain a significant trend in the U.S. and Canada as compared to the developing countries, owing to the infiltration of technologically advanced equipment. However, the growth of the construction aggregates market in the developing countries will remain incremental with high population density upholding the demand for residents.
China remains a key consumer of the construction aggregates during the forecast period, as the government executes the 13th five-year plan, wherein a high investment is anticipated for the development of road and rail infrastructures. The infrastructural growth in China also reflects upon India, which is likely to remain the fastest growing construction aggregates market.