The global construction aggregates market size in Europe is expected to reach USD 23,327.3 million by 2027 and is expected to grow at a CAGR of 4.2% during the forecast period. Growing development of residential skyscrapers will drive opportunities for Europe construction aggregates market during the forecast period, says Fortune Business Insights, in a report titled “Europe Construction Aggregate Market Size, Share & Industry Analysis, By Type (Crushed Stones, Sand & Gravel, Recycled Aggregates and Others), by Application (Structural Material, Ready-Mix Concrete, Precast Concrete, Asphalt Types and Others), by End-Use Industry (Commercial, Residential, Industrial and Infrastructure) and Regional Forecast, 2020 -2027. The market size stood at USD 17,788.1 million in 2019.
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The report lists the main players of the construction aggregates market in Europe:
- LafargeHolcim (Switzerland)
- Cemex (Mexico)
- Heidelberg Cement Group (Germany)
- Eiffage Group (France)
- Saint-Gobain (France)
- Taiheiyo Cement Corporation (Japan)
- Aggregate Industries (UK)
- LSR Group (Russia)
- CRH plc (Ireland)
- EuroCement Group (Russia)
Increase in employment rate to increase market growth
Population growth coupled with rising employment rate has fueled the demand for European construction aggregates which will expand the market. The migration of workers to urban areas with improved living standards may further drive the development of the market in the coming years. The growing demand for high-rise buildings in urban areas can have a huge impact on the global market. Expansion of buildings and infrastructure such as schools, colleges, industries, and transportation structures can simultaneously improve the market outlook. In addition, urban centers such as London and Paris increasingly used European construction aggregates before industrialization. Also, the demand for high quality building materials including aggregates will drive the market growth.
Construction activity delayed to disrupt market amid coronavirus
The pandemic has led to the confinement of many European countries, including Germany, France and Italy. The lockdown has caused an economic recession and disrupted various industries across the continent. According to Eurostat, the EU recorded a contraction of around 14.4% in the second quarter of 2020 on an annual basis. Declining demand for construction materials has further reduced the need for construction aggregates in Europe, thus hampering the growth of the market. However, market recovery will be visible by 2021 as governments prepare to implement regulations to support green infrastructure, which, in turn, will bode well for the market.
Germany leading the market due to growing number of infrastructure projects
Germany is expected to hold the dominant share during the forecast period. It has been a key hub for infrastructure development with vast urban areas. It currently holds a 14.7% share in the European construction aggregates market and is expected to lead the way during the forecast period. In addition, infrastructure projects in the Benelux are gaining momentum due to the high spending capacity of the population and strong support from the government. Thus, the demand for aggregates in Belgium and the Netherlands will create opportunities for the European construction aggregates market in the coming years.
July 2020: LSR Group has announced that it has acquired the Tarayka 3 sand quarry in the Kingiseppsky district of the Leningrad region in Russia. The acquisition was made to expand its market share in the home region and optimize its logistics.
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