An article published by GlobeNewswire on March 28, 2023 discusses the growing demand for aggregate products in the mining industry and predicts impressive growth in the Construction Aggregates Market. It forecasts the market to reach US $636.46 billion by 2033, primarily driven by increasing construction activities. This forecast was based on a study done by Persistence Market Research.
The rising demand for construction aggregates, including sand, gravel, crushed stone, and other materials, can be attributed to the booming construction sector. This surge in demand is in part fueled by the current administration’s Bipartisan Infrastructure Law, that includes building/rebuilding of roads and bridges across America. Aggregate materials are essential components in the production of concrete, asphalt, and other construction materials used in these infrastructure projects.
One of the key challenges facing the construction aggregates industry is the high cost associated with transporting these products from mining sites to construction sites. The cost of distribution significantly affects the final price of these materials. Thus, the need for mining aggregate products locally can offer substantial benefits to the industry. By sourcing materials closer to construction sites, transportation costs can be minimized, leading to more cost-effective distribution.
In summary, this GlobeNewswire article emphasizes the increasing demand for aggregate products in the mining industry due to the surge in construction activities. It also gives light to the importance of mining these materials locally to reduce the high costs associated with transportation and enhance the overall cost efficiency of the industry.