Global Road Aggregates Market: Overview
Aggregates are the major component that are used in road construction among all other materials. It is normally used as a base layer for road construction. Road Aggregates are the granular materials such as gravel, limestone, crushed rock that are used along with water, cement for their final application on roads. Road aggregates finds its application in construction of road over bridges, bypasses, flyover, stand-alone roads, tunnels, underpasses, and others. As there is surge for new road projects, the road aggregate market is expected to gear up in the coming years.
Global Road Aggregates Market: Segmentation
Global road aggregates market is segmented into type, application, and region. The global road aggregates market can be segmented on the basis of type which includes granite, sand, gravel, limestone, crushed rock, & others. On the basis of application the market can be segmented into new construction and repairs & maintenance. Region wise, global Road Aggregates market is segmented into North America, Latin America, Western Europe, Eastern Europe, Japan, Asia pacific (APEJ), and Middle East and Africa (MEA).
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Global Road Aggregates Market: Region-wise Outlook
The global road aggregates market is projected to witness a moderate growth from 2015 to 2025. According to FMI forecasts, the market in Asia-Pacific region is expected to grow at fastest CAGR in the coming years. Western Europe and North America are the matured market for global road aggregates market.
Global Road Aggregates Market: Drivers
Investments in new and improved roads is accelerating the growth of road aggregates market. Aggregates are consumed in large quantities to meet the repairs & maintenance as well as the new road construction projects and other infrastructure development activities. It also includes many different grades of sand and gravel which vary in their geologic origin and in their processing techniques such as crushing, screening and washing. The product type is manufactured as per the engineering specifications required for the road projects.
Aggregate is not only used in the construction of new highways, but also in reconstruction, rehabilitation and widening already existing highways. Road standards are changing overtime, modifications in aggregate specifications have led to increased usage of percentages of stone, with greater amount of crushed particles. These changes have resulted in more aggregate being laid down on highways. All these factors together drive the road aggregates market during the forecast period.
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Global Road Aggregates Market: Restraints
The restraints that are hindering the growth of global road aggregate market includes factors such as high cost of transport and environmental effects of the supply of aggregates.
Global Road Aggregates Market: Competitive Landscape
Key players in the global road aggregates market focus on product innovation and introduction of new product grades in order to outperform competitors. Investment on research and development to provide high quality and different grades of road aggregates as per the changed aggregate specifications is also a major strategy that is followed by major players in the global road aggregates market.
Global Road aggregates Market: Key Players
Some of the major players identified in the global road aggregates market are LafargeHolcim Group, Wharehine, Aggregate Industries, Okanagan Aggregates Ltd., Rock Road Companies Inc., Kuari Pati Sdn Bhd, Hanlon Concrete, etc.