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Globally Speaking

RR082119 GlobeAug. 21, 2019 – The global aggregates market is expected to reach $671.1 billion by 2025, escalating at a CAGR of 6.5% over the forecast period, according to a new report by Grand View Research Inc. Aging of infrastructure and expanding construction sector are anticipated to drive the growth of the construction aggregates market over the forecast period. The crushed stone segment is anticipated to remain the largest segment over the forecast period, in terms of revenue as well as volume, on account of its massive usage in roadway construction. The concrete segment is anticipated to grow at a CAGR of 6.8% over the forecast period, in terms of revenue, due to increasing demand in housing sector. The global construction aggregates market is likely to be dominated by three countries: India, China and the United States, owing to steady growth in their construction activities in infrastructure as well as the real estate sector. "The infrastructure sector in the United States is in dire need of an upgrade as the country has witnessed an increase in bridge collapsing incidents in the past few years," the report states. "Nearly 9.1% of country's bridges are structurally deficient according to the American Society of Civil Engineers (ASCE). The country is expected to observe a huge surge in bridge infrastructure development over the coming years."