LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the construction aggregates market in the US provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the construction aggregates market in the US will grow at a CAGR of close to 3% during the forecast period. However, the market's growth momentum will decelerate owing to a decrease in the year-over-year growth.
The rising construction activities in the US is a major factor driving the market’s growth. Construction aggregates are among the most mined materials in the world and mainly used in the construction industry. Construction aggregate comprises a major part of the concrete used in the construction industry in the US. It is used as a filler material in concrete to provide volume, strength, wear, and erosion resistance to the finished product. Construction aggregates also provide composition, specific gravity, and surface texture to the end-product. As the cost of construction aggregate is lower than the other materials used in concrete such as cement, it accounts for 60%-75% of the total volume of concrete. It is primarily used in beams, columns, and the foundation in buildings or infrastructure.
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In this report, Technavio highlights the increasing demand for recycled aggregates as one of the key emerging trends in the construction aggregates market in the US:
Increasing demand for recycled aggregates
The construction materials industry is regulated by certain ecological restrictions in terms of mining of the raw materials. Considering the environmental impact of mining construction aggregates, a new trend of using recycled aggregate is gaining traction in the market. Recycled aggregate covers the re-use of concrete and asphalt from demolished construction sites. Recycled aggregate is produced by crushing the existing concrete or asphalt from construction debris and using it for new construction activities.
According to a senior analyst at Technavio for construction research, “The advantages of using recycled aggregate in the construction market include environmental sustainability and reduction in construction waste. Moreover, recycled aggregates are finding a major application in general bulk filling processes, in drainage structures as a base or filling material, and in the construction of roads and pavements.”
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Construction aggregates market in the US - market segmentation
This market research report segments the construction aggregates market in the US by the type of products (crushed stone, and sand and gravel). The report also presents a detailed analysis of the market’s growth prospects based on the demand for construction aggregates across non-building, non-residential, and residential end-user segments. In 2017, the crushed stone segment accounted for over 59% of the market, whereas the sand and gravel mix accounted for close 41%.
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