The aggregate in road construction market has also seen rapid expansion in recent years, expected to grow from $735.36 billion in 2023 to $828.16 billion in 2024 at a CAGR of 12.6%. Key drivers in the past have included rising urbanization, a growing population, economic development, industrialization, and increased vehicle ownership.
The aggregate in road construction market is expected to grow to $1339.87 billion by 2028, with a CAGR of 12.8%. The growth is fueled by smart city initiatives, stricter environmental regulations, rising green construction adoption, public-private partnerships, and urbanization trends. Trends include increased automation in construction, 3D printing in road building, smart road infrastructure, expanded electric vehicle charging networks, and efforts to reduce carbon emissions in construction.
Major Driver In The Aggregate In Road Construction Market
The increasing adoption of construction technologies is expected to drive the growth of the acrylic-based masking tapes market. The construction sector is rising due to factors like urbanization, infrastructure development, and growing demand for residential and commercial spaces. Acrylic-based masking tapes are used in construction for surface protection during painting and finishing tasks, providing strong adhesion and weather resistance. According to the Office for National Statistics, in November 2023, construction metrics in the UK showed significant growth, with total new work rising by 15.8% and new orders increasing by 11.4% compared to the previous year. The growing adoption of construction activities is propelling the acrylic-based masking tapes market, which is expected to reach $150 million in 2024 and $200 million by 2028.
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Aggregate In Road Construction Market Competitive Landscape
Holcim Group, CRH plc, CEMEX S.A.B. de C.V., Vulcan Materials Company, Terex Corporation, Buzzi S.p.A., Arcosa Inc., Boral Limited, Breedon Group plc, LSR Group, Adbri Limited, Rogers Group Inc., Carmeuse, Norlite LLC, Eagle Materials Inc., Sully-Miller Contracting Co., Titan America LLC, Stalite Lightweight Aggregate, Salt River Materials Group, Liapor Group, Okanagan Aggregates, Wharehine Construction, Rock Road Companies Inc.
Key Aggregate In Road Construction Market Trend
In the aggregate in road construction market, companies are developing carbon-neutral asphalt materials to reduce emissions. For example, in March 2024, Aggregate Industries launched Foamix Eco, a cold-lay asphalt made with recycled materials, contributing to net-zero construction goals by minimizing energy consumption and carbon footprint.
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Global Aggregate In Road Construction Market Segmentation
The aggregate in road construction market covered in this report is segmented –
1) By Type: Granite, Sand, Gravel, Limestone, Crushed Rock, Other Types
2) By Application: Highway Construction, Railway Construction, Other Applications
3) By End-User: Government, Private Contractors, Public-Private Partnership
By Geography:The regions covered in the aggregate in road construction market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the aggregate in road construction market in 2023.
The Aggregate In Road Construction Global Market Report 2024 furnishes information about the global aggregate in road construction market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
