In addition to residential projects, expansions in the tourism and hospitality sectors are creating lucrative growth opportunities for market participants. The construction of hotels and resorts in countries like Germany and Italy improves the sales prospects of building aggregates in the market.

Additionally, the demand for sustainable and recyclable construction aggregates is creating avenues for innovation in the market. Leading players are capitalizing on this trend by introducing sustainable alternatives in the market and boosting overall market growth.

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“Increasing government spending on infrastructure development, coupled with the adoption of the latest technologies, is shaping the growth prospects of the aggregates market,” says the FMI analyst.

Important insights from the building materials market analysis

• Depending on the product type, crushed stone will dominate the market due to its ready availability and affordable price.
• Construction aggregates will find applications in the infrastructure sector due to increased spending on road and rail projects.
• High growth is expected for the USA in the forecast period. US sales are expected to total US$16.4 billion in 2021.
• Expansions in the tourism and hospitality sector in Germany will create opportunities for the sale of construction aggregates.
• China will develop into the most lucrative market due to the increasing industrialization and urbanization of the country.
• Increasing investment in housing and infrastructure development in India will boost sales of building aggregates in the country.
• Japan and South Korea together will account for 7.2% of the total market share.

competitive landscape

Heidelberg Cement AG, Martin Marietta Materials Inc, LSR Group, LafargeHolcim Ltd., Cemex SAB de CV ADR, Vulcan Materials Company, CRH plc, Adelaide Brighton Ltd., Eurocement Group and ROGERS…