Philippines Construction Aggregates Market Poised To Grow At A Steady Pace Due To Infrastructural Developments In Residential And Commercial Sectors

 

Market Overview

Construction aggregates refer to various crushed stones, sands and gravels which are used in construction activities such as foundations, pavements, pipes, concrete, etc. Some key types of aggregates commonly used in the Philippines include crushed stone, gravel, sand, recycled aggregates, etc. Rising demand from infrastructure, residential and commercial construction projects has been fueling growth of construction aggregates in the country.

The government's plans to build affordable housing units, develop roads and bridges, and construct dams and other public utilities have significantly increased consumption of aggregates. The need for durable, affordable and sustainable construction materials is also driving production and use of recycled construction aggregates.

Philippines Construction Aggregates Market is estimated to be valued at US$ 3.76 Bn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the Philippines Construction Aggregates are Holcim Philippines Inc, Metrocem Cement Ltd, Eagle Cement Corp, Island Quarry & Aggregates Corporation, Pacific Cement Phils Inc, Union Galvasteel Corporation (UGC), San Miguel Northern Cement Inc. (SBNCI), Atlanta Industries Inc., Concrete Stone Corp, and Mav Companies Aggregates Inc. These companies collectively command over 60% share of the market.
The government's infrastructure development plans worth billions of dollars offer significant opportunities for growth of aggregates companies in the Philippines. Major projects lined up include construction of roads, bridges, airports, seaports, rail lines, hydropower plants, etc.
To capitalize on growing demand for construction materials in Asia and other foreign markets, leading Philippines construction aggregates companies are expanding their operations overseas. For instance, Holcim Philippines acquired aggregate assets in Indonesia. Eagle Cement is also exploring opportunities in Cambodia, Indonesia and Vietnam.

Market Drivers

Growing infrastructure spending by the government: The Duterte administration aims to spend over $180 billion by 2022 on infrastructure projects. This will boost demand for construction aggregates.

Rising real estate development activity: Strong economic growth, expanding middle class and development of special economic zones are fueling growth of residential and commercial construction sector in the country.

Market Restraints

High transportation costs: Aggregates have a low value-to-weight ratio and transportation accounts for a large share of overall project costs. This increases delivered costs of aggregates.

Environmental regulations: Rising concerns about illegal quarrying have led to strict regulations regarding extraction and transportation of aggregates. This adds to compliance costs of aggregates producers.

Segment Analysis

The Philippines construction aggregates market is dominated by the sand and gravel sub segment. It holds around 45% share of the overall market owing to high utilization of sand and gravel in cement concrete and asphaltic concrete production for construction activities. Sand and gravel find widespread application in road construction, housing projects, infrastructure development, and commercial buildings. Being locally and widely available at affordable prices, sand and gravel remain the preferred choice among end users.

Global Analysis

Asia Pacific dominated the Philippines construction aggregates market and accounted for over 40% share in 2024. The region will likely witness the fastest growth during the forecast period owing to huge government investments for building road networks, railways, power projects, and commercial buildings to meet increasing demand and support economic growth. The Philippines government's 'Build, Build, Build' infrastructure program focuses on developing six major infrastructure systems connecting all regions of the country by 2022. This is positively impacting the construction activities and demand for aggregates.

Get more insights on this topic:  https://www.marketwebjournal.com/philippines-construction-aggregates-market-primed-for-growth-with-eco-friendly-trends/

About Author:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement. (LinkedIn - https://www.linkedin.com/in/priya-pandey-8417a8173/)

 

What Are The Key Data Covered In This Philippines Construction Aggregates Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Philippines Construction Aggregates's growth between 2024 and 2031.

:- Accurate calculation of the size of the Philippines Construction Aggregates and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Philippines Construction Aggregates Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Philippines Construction Aggregates vendors

FAQ’s

Q.1 What are the main factors influencing the Philippines Construction Aggregates?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top Philippines Construction Aggregates companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the Philippines Construction Aggregates’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?


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